Gemfields Quarterly Released Today, page-9

It would seems not. I think the reason is the market doesn't understand how close MUS is to significant revenue. All the other small miners take years and years to get to production and require a massive investment in infrastructure. Also with most miners your cost of production is pretty close to net revenue on the basis that competetion drives the commodity price down over time (the are of course exceptions in booms).

MUS already has all the infrastructure it needs to generate tens of million of dollars of revenue. Their cost of production is way lower than the prices that can be achieved (using GEM as a guide) and there is only one other legal supplier. Significant revenue is months, not years away. Oh and thrown in, there is graphite resource with a JORC due in the next couple of months.

Despite all of this the MC is only $25 million. Not much sign of market efficiency around here.