Feel free to just list their codes on here, Ill be happy to have...

Feel free to just list their codes on here, Ill be happy to have a look.

No doubt there is value for exploration potential that is what the market decides. You've assigned 5 million in value solely because they've applied for the exploration licenses. You couldn't possibly expect to have applied for those exploration licenses yourself and then sold them on for 5 million.

As for this whole 10b in ground resource and that that somehow means the company should be valued more, there are many many examples of this across the ASX. The first two companies I thought of exceed MCT's example.
GME - 1mt nickel value of 11.7 billion in ground value - MC 14.7 million
HCH - 1.47mt copper .98moz gold value of 11.1 billion in ground value - MC 28.9 million

Each has their own issues etc, much like how the expected capex for AB keeps its value to a minimum.

In regards to the Miners Rights limit to 20kgs, it must be per sample. From the JORC Table on todays announcement.

"At each sampling location, approximately 3 kg of rock was collected using a hammer from outcrop. Samples were intended to characterise the pegmatites by sampling a variety of the rock types present. "

A 3kg rock chip sample hardly sounds like its being restricted. The PLS rock chip samples I compared earlier in the thread were 2-3kgs each.