Frankly I have seen worse. Like I said before, all the mining stocks have been hit hard. These type of stocks are much more risky. So if you have no risk tolerance then get out and stop complaining! Take your loss and get a tax write off.
My time line is different than yours. I feel the company is going in the right direction. I don't know how many years you have been trading or investing. But I had something similar happen to me 12-14 years ago. My friend at the time was invested in the same stock we were buying at $1.50-$2.50. It went to 3.50 and we didn't sell. But it went to 25 cents years later and then back over 3.50 years after that. I had no patience so I sold early. Then later I learned my lesson. There are no guarantees here. So I really am not 100% sure. But I do think that I like what I see for what is setting up for a home run over the long run.
However, if gold and silver fall these type of stocks fall harder. If the market moves up then these guys really move. I really don't know when gold and silver will really start to move up but it is a question of when. When that happens the trend will go the other direction then the stock will move up. Otherwise maybe you need to diversify w/ physical precious metals (PMs) and maybe other bigger junior and senior miners. Maybe you should do less risky stuff like and SLW or Sand, but that is just my opinion. I'm diversified in other miners.
According to Warren Buffet Diversification is a protection from ignorance. Personally, I don't think that is the way to go. All I see is the whole economy getting worse and the media telling you its ok. Detroit goes bankrupt, Congress is shut down, there are more tent cities. Lastly, Many other cities and states are on the verge of bankruptcy.
If I used your pain threshold as a buy signal now would be time again to add. Always do the opposite of the masses and in the long haul I think these contrarins will do well. Good Luck!