Epstein is a pragmastist...I wouldn't worry about the .20 valuation.
He's basing this on no development and no further acquisitions...I think he's comparing it to much larger operations, therefore giving it a low valuation.
POR is worth a lot more, depending on the assays.
It's still great news as this is an extremely lowball offer, 2.5x the current share price.
This will get moving once there is more news...until then hang tight.