Summary of FFX, page-46

I'm posting this here so I don't get abused and accused of x-promoting elsewhere but would someone be so kind to give me a high level overview on why LTR have a $1.8 billion MC in relation to FFX's $391 million MC?

I'm not wanting to shoot down LTR or anything but I honestly just ran my eyes over the latest quarterly and can't reconcile theirs/ours MC's... On the lithium side, don't have a DFS yet, no off-takes, quality of resource I would peg at being below the quality of ours. Is it because of one of their other projects? Vanadium, Nickle/gold etc?

Anyone invested in both LTR and FFX?

thanks in advance!