why carrick gold? priced at $8 per ounce, page-27

In reality the share price bears absolutely no relationship to the value of the company and this was pointed out to me yesterday.
Three years ago an independent valuation put a price of $2.22 on Carrick shares.
Considerable work has been done since then in increasing the resource/reserves and delineating the resource. There have been two independent valuations since which have both put a $2.00 minimum valuation on the shares.
The JORC resource is firm. It's not just a hazardous guess. Every ounce that is converted from inferred to measured or indicated will be that much more valuable. That work is going on right now as fast as the company can.
Obviously it is very disappointing that the share price is languishing at these levels and leading to stress for some people but the fact is those who wait will undoubtedly have their patience rewarded.
Those who have the closest interest and best knowledge haven't sold and have in fact increased their holdings. It's very hard to be patient!