Tha't is unfortunatly just how it is with mny Jr companies. Unless they have the wherewithall to find and fund a property while keeping a reasonable number of shares outstanding that's all they are willing to pay.
I do hold Hudbay and see some of their Jr partners close to permiting and actually one about to produce (VMS) and the shares are in the dumps. I hold only one Jr mining company that is progressing on their own with good results in Canada and not diluting with room to add more shares. These are the companies that may stand out as winners if a takeover happens. I did have it happen once before in the last three years where a stock went from 45 cents to $3.75. It can happen again with luck or good cherry picking.
In the case of many companies working the ring of fire area the Ontario Governement and Feds are slow to move perhaps making it even more difficult when they could add some values on many fronts. Case in point Noront way down from the glory days. No doubt one day this area will be another Sudbury. If one has time to wait and wait.
Wish they were in Labradore or Nfld or Quebec where the governments are proactive to mining.
To Golden... The stock you wrote to me about may fall into the better class of cherries on that tropical Island.