RE: RE: Book value River, I am on your side here.
Book value is just a reasonableness test for what one could sell their assets for (or watermark in portfolio mangaement terms). Any market valuation above book value is sentiment which is primarily based on either profits (current or future) and goodwill (perception or brand or otherwise).
Currently the goodwill for a Potash company commands a higher valuation over book than a platinum company which commands a higher valuation over book over a coal company. When comparing S+P MCD and KO commands a higher valuation over book than say JNJ or PG eventhough the ladder carries half the debt, and if you think about those 4 simplistically, people will always need toothpaste and diapers more than they need a soda and a quick hamburger.
Either way there is good appreciation here and these guys have accomplished much in a very short timeframe (by mining standards) and unless a red flag rears its ugly head, I will continue to hold for many years to come.