13m buy at 0.7c, page-17

"Any more thoughts on how to improve / clarify a valuation?"

I dont think you really can at this stage. Its to early and they dont really know what they are sitting on. Until there is an officcial JORC it is just speculation as to whats there. We have info based on a a several hundred kg 's of samples. Its not enough to extrapolate to a potetial resource.

I think time is the only thing that will allow an impoved valuation. You note that torian was .004 before madagascar and bouncing around .006/.007 now. I think thats a good indication of what the market values madagascar at this stage. Especially as we dont have a JORC.

The $107 came from a asx release for another company but it says it is publically available. Not sure where. I have included below to give an idea of the spread of companies.

How it is used, who knows probably only as a guide as I am sure the market will look at individual companies total resource, grades and ability to mine/produce.

The company is certainly in a better position than 12 months ago. It should be a bit nmore clearer in another 12