"This really makes me think that Management does not expect to see this stock trading above $3.25 ANYTIME in the near future."

With all due respect, I doubt it! Even if it were true, the institutions that payed up to 4 bucks for this stock just on the last discovery knew very well that it is worth much more than that. All the more today when we know that we have more mineralisation at depth. I guess we will see them suddenly wake up at some stage, like last year, and their timing will be perfect.