I agree with you. the price will soar and even can surpass $2 or $3. Here are the reasons:
1- The property value is more than 65 mil.
2- Considering the very tight structure, management needs higher prices to evantually issue more shares.
3-The 37% institutional investors like RBC, Fidelity, or Sprott have known the value of their holdings.
4- After 2 years constant decline, insiders have made millions and are buying shares again.
5- A bubble is good for management, for share holders, and for future work. Since the market cap is small, with a little bit money and some headlines, it is possible to inflate share prices in a very short period of time.