RE:What's with this stock ?
$4/share is not unreasonable, in fact $7-10 is probably fair market value. When you look a the prices paid for other mineral deposits, and compare against the NAV etc, that would be fair value for this deposit.
A number of years ago a company paid $0.50 per MMton phospate found. With the 1.5billon tons in ground about to be announced that would give over $7/share. The full resource is still not known and will be significantly more.
The major shareholder want fair market value. But, that considered, fair market value is dictated by the market.