RE:I like Paul…If you've watched the recent few interviews with Paul, you will note that he is now focusing on the current metals price environment (which will only continue to move upwards) when discussing the NPV of the Casino project. $5B at today's prices.
He admits there is a price disconnect, but this is likely due to the traders acknowledging that an offer may be at least a year away (dead money in the interim if you're a trader), permitting being a long ordeal (we don't know if it will be WRN or the ultimate suitor pushing this through) and the time it will take to finish the Casino Road.
These are all things outside of the control of Paul. All he can do is be a bulwark against lowball (i. e. BS offers) by sticking to his guns of the $5B NPV as the negotiating number. We won't be getting $5B of course, howver, you start negotiating from the top (position of strength) instead of the bottom (position of weakness). This is what we are paying Paul to do, and it appears that he gets it, he understands what his primary job is: negotiate from strength.
The price won't start to run up until (as ALWAYS happens) the buyout is leaked to the insiders and starts to trickle out to the crowd prior to a buyout announcement. Until that happens (next year possibly) we are, as mentioned before dead money. This isn't Paul's fault whatsoever. It is the market being the market. We can whine about it or take advantage and keep dry powder ready to take advantage when the final washout occurs.
Besides, the market cap will take care of itself after the runup previously mentioned. Until then, you are fighting a losing battle, that is unless you prefer to pay for more for shares today than what you could pay for them shortly. Market sentiment is bad, it is HORRIBLE right now for the juniors. The trend is your friend, no need to fight it or lay blame on our CEO that it is in the opposite direction than what you would prefer.