My thinking is relatively simple. If I estimate the KBX has 3M oz's equiv (looking forward a bit, but I think this is easy), then with a market cap of around $55M, it would give a $/oz value of $18 or so dollars. Doesn't seem fair when gold is approaching $900. This thing will fly when we cross over $1k soon.
The short-term is hard as heck to predict, but the long-term is pretty clear to me. Do you wanna be early or do you want to be late? That's the question!