RE:Eric is good with throwing more money away
Or perhaps some think 5 cents a silver ounce in the ground is a good value for 37 million silver ounces, combined with $600K raised at 10 cents, now that those throwing away their shares for nothing seem to have subsided. Maybe they think Stroud can sell to a major and get more than $2,000,000 for it. Or that the drilling over the last two years, while not finding long intervals of high grade, certainly didn't rule it out on any follow up drilling that a prospective buyer might want to pursue.
Right now most explorers without cash are hard up for fund raising in this economic environment, unfortunately.
Valuations for junior explorers are extremely variable, and many make no sense whatsoever. I asked about a $100 million market cap for a company on another board that didn't have any demonstrated resources published such as Measured and Indicated, or Inferred, and was immediately attacked for having the audacity to bring up the subject, but otherwise got no answer. This board obviously is the reverse. It goes both ways.