RE:RE:Downgraded by Canaccord & RBCI see it differently, with the current price of 7.41 US essentially accounting for an adjustment to a drop in grade to 8+ grams, and a reduction in tonnes by 20 - 25% while also inlcuding the balance of the debt repayment. Believing the shares are still overpriced needs to include a good reason, without that it strains plausibility.
This uncertainty should not be as confusing as it currently is. Considering the difficulties and character of the deposit, the variogram curves with data should have been shown in the reports. The combined Snowden reports would be thick enough to use as a door stop, yet they were wrong by a large margin, and were incomplete and inconclusive without the basis for the model curves shown. The author is now working on his own, no longer with Snowden. PVG has hired him to continue on working on this from his own office. Hopefully something different/better can be done this time, but I will have much difficulty viewing further reports from this source without skepticism.