brockman and sundance

Thought I would compare Sundance Resources with BRM given new takeover activity for the African-based company.
Market cap for SDL is about $ 1.4 billion whereas BRM is about $ 485 million.
Neither Mbalam ( SDL ) nor Marillana is yet in production but Mbalam has Indicated hematitic resources of about 420Mt ( DSO ) and BRM are planning to produce about 440Mt of beneficiated hematite at Marillana.
Mbalam hematite grades 61.4% Fe; SiO2 is 5.9%; alumina 2.9%; P .097% and LOI 2-3%. Marillana beneficiated hematite product is expected to grade about 61% Fe; 6.0-6.5% silica ; 2.5-3.0% alumina; 0.08% P with LOI 2-3%.
Hard to pick the difference as far as mine product is concerned--- including scale of annual production
However, Mbalam is located on the border of Cameroon and Congo and will require a 510Km rail line to reach the coast.
By contrast, Marillana is in thelong established Pilbara iron ore field about 300Km from Port Hedland with established rail lines in close proximity and rights to future port infrastructure .

So, why the difference in market value ?