I can't help you on the price/book ratio because there is no tangible asset per 43-101, I don't know on what the book value is based. As far a John buying, that is true, but in my 25+ years of investing I have satisified myself that insider buying/selling is nearly meanlingless unless you have a large pool of insiders. To presume one or two insiders buy/sell for the same reasons you would is a mistake. Insider activity can have statistical value as to management's thinking if the sample is large enough. If you still doubt my logic, survey a large group of management on this subject the next mineral show you attend. Regards,

Ron