This Quote is worth repeating:

I've heard this kind of statement quite a bit lately "If cash on hand is less than debt the stock is worthless". The actual resource controlled by the company is given a value of 0. Now I agree limited cash is a concern in a market when it's very hard to secure financing but there is no way that having a permitted mine with a huge resource has no value whatsoever. As this continues the big boys will start snapping up these junior stocks which are trading down to cash value. They could offer triple the stock price and still get the resource for peanuts.” – From vliet on the Homeland Energy Group (TSX: T.HEG, Stock Forum) Bullboard.