RE: In the ground First of all, the share price X the float does not represent the market cap of the stock. You need to multiply it by all the shares outstanding, not just the float. Also add in any warrant or options that can be exercised.
Second,the market value of BBS' kaolinite property is not simply a matter of determining the market value of the kaolinite in the ground. The market value will only be a portion of the ultimate realizable value of the kaolinite. All the costs and risks need to be factored in, and all the potential cash flows would need to be discounted to reflect present value amounts.
In any case, I would agree that the stock price does not come close to reflecting the potential of the deposit.
Can anyone answer the following: Since it seems that the kaolinite is not a commodity such as most of the metals, would there be a lot of marketing costs involved in selling the stuff given that there are so many different grades and uses for the product?