I wouldn't so easily dismiss the Mexico factor.

Look around. Many gold stocks -- of varying size and description -- with Mexico operations have share prices that are not reflecting the bullion price rise. Check out Goldcorp, Minefinders, and others. This is at the very least an interesting correlation and quite possibly causation.

Mexico is a country in distress and the evidence ranges from drug gangs running wild, to unions and/or ersatz social-justice groups demanding what amounts to extortion from mining operations that they might avoid "trouble."

Kimber's share price has been much higher in the recent and distant past without the proof of deposit size that you mention. Why so much lower now?

Are the troubles of Mexico the only reason for Kimber's present price lethargy? No. Are they a contributing factor? I think the answer to that is yes.