Tau, you make a very good point. I have also considered the downside risk and came to the exact same conclusion as you actually, a rock bottom of .20c down -- or somewhere in the neighbourhood of .35-.40c.
However with all the projects on the go, potential news and other catalysts set up for this year I VERY HIGHLY doubt we'll even come close to that mark. That's why I'm willing to take a bit of a gamble and jump in with both feet. After all, exploration stocks aren't exactly like Apple where you're paid dividends and have solid year over year growth. They pretty much are a big gamble and all you can do is weigh out the facts and if they look solid; take a chance, hold on tight and keep on top of the events.

I guess the point I was trying to make with the resource estimate was that we'll have some tangible value that we can attribute to the work that has been done so far. We're not just praying that we *might* hit something like so many other juniors, we actually have resources in the ground and a boat load of money to grow the resources as well. Which I believe could get into the millions of ounces down the line as we drill up a storm. When that potential starts to become a reality, even a glimpse of it -- that's what is going to drive the SP back up like a rocket again. Cause as you said, people like to pay for the future.
Since the areas they are exploring are very easily accessible and mining friendly it's practically money in the bank. Of course the work needs to be done but at least the Golden Mile and other veins in the GB region seem like they could be mined without jumping through too many hoops.
Just pull the ole backhoe and dump truck off the Trans Canada highway and bada bing, bada boom, you're in business ;) (of course I might be *slightly* exaggerating but you get the idea) lol.
I liked your "3 kinds of knowledge" example though, I'm pretty sure you're right about the third option being the most dominant. That'll get you every time if you don't pay insanely close attention.

Either way I'll stop my rambling now I've writte too much as it is. Lets just hope things work out as planned and we all make some big KXL money in the not too distant future.

GLTA.
Gamblor.