They should be merging with fnr-49 North Resources has a market cap of $24m yet most of their private holdings are priced at original cost, such as Allstar Energy.  Allstar alone is worth more than $24m, they just sold the viking assets of 49n for $24m and kept the best for nothing.  Have it on the books for $4m and it's probably worth $50m today and who knows what down the road.  The value of the company is close to $100m yet it trades for $24m.   Pinetree and fnr would be a great fit.   They also have a minium of  $315m in gold with OMM when that project starts up soon.  

As a side note:  The best pick of 2013 will be Ger/Gerff-Glen Eagle Resources-Remember this note!   Don't say you were not told.  .22 cents today with $9m market cap and should be $2 by end of year.  You were told!