It is instructive to compare the DEPOSITS and the PROJECTS,
but misunderstanding comes when you compare the COMPANIES and the VALUATIONS.
"Of their present market cap of about $US650M, how much do you attribute to their technology speculation vs mining prospects? Subtract that amount from their present market cap, and now you have a perfect side by side comparison with Ardea."
...well, that is the question, isn't it ?
The solid method would be to subtract a Sunrise valuation based on a comp to ARL from CLQ's cap, and say that the result is the market cap of the technology, non-Sunrise portion. But everyone naturally does it the other way.
Without a figure for the non-Sunrise value in CLQ, what is anyone's basis for saying that another project is undervalued compared to CLQ ?
Matt Bohlsen, Seeking Alpha Post on ARL PFS, page-39
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