Please don't forget that when they did the PEA for Mt. M it was the gold sales that reduced the operating costs and made it economical. They have given up 52.5% of the gold already so that window must be closed now. As for the book value, I doubt that it really is on a fully discounted basis ( liquidation value) would be much more than $5 now. Don't get me wrong I hope they survive but they have certainly made some big mistakes on both Mt. M and at Endako with serious cost overuns. Those mistakes limit your ability to move forward ahead when your cashflow is squeezed.