Working out a value of a stock is hard. Some look at peers, some...

Working out a value of a stock is hard.
Some look at peers, some put down what they want to get in at.
I agree with invincible that they were too high at 20 cents and I can tell you they, being the directors who hold most of them, wanted it a higher EV but we wouldn't sign until they took a haircut, we still thought it a bit too high but we went half way.

The EV or market cap mostly consisted of director shares prior to listing. The are escrowed for 2 years.

Now when Oz Minerals start drilling which is tipped to be July as Don Triggs said that could all change depending on what they find.
Oz Minerals is one of the biggest miners in Aust and already have nearby ground.

Who knows how many ex Ausroc holders still have stock, I know of one who had 500k of them, if you notice now and again a 500k sell order appears to try to cap it, haven't seen it for a while though so not sure if some have been sold. Woomera would know.

Don Triggs is very knowledgeable and I have had a few discussions with him prior to listing.
The others?