The current market cap of Monarch seems pretty low considering that the two mills they own are worth more than $50 million. In a presentation with the CEO in the past year he said including permits the rebuilt value of the mills would be even higher around $70 million.
On top of that Monarch has $5.1 million in cash, $3.6 million in short-term investments and 500 ounces of gold in inventory.
The current market cap of Monarch is around $47 million. Go figure...