You may be right about the 12 cents and I wouldn't argue against that. But that would give the company a market cap of about $17 million while they have many billions of value in the ground at Ashram and a study that shows an internal rate of return of 44%-conservative. They have a few million cash on hand and a few more coming from the Quebec Gov. in the way of exploration expense return. So, immediate future world economic conditions aside, it comes down to whether management can ultimately monetize and deliver some of that value to shareholders. You apparently believe they can't. For me, I don't know if they can, but there is a compelling risk-reward possibility.
So, I have some money invested here and taking the risk but not trying to convince anyone else that it's a good idea. Do expect at least a modest post tax-loss bounce though. And I do admit that management can be awfully slow and plodding although in the current environment slowing cash burn is not such a bad idea,