Ann: Positive Results Obtained in Phase 1 Metallurgical Test Work, page-37

RMX is currently drilling there lithium brine project so are further advanced than ASN both have colbalt plays, ASN has other plays as well

so the difference in market caps is reasonable imo plus rmx have 3 million in cash,
so RMX EV is 10 million ASN EV is 6 million.

I would consider CAD expensive as its MC is 21 million at 0.004 with no cash and is solely a lithium brine play although more advanced than most.

you could say RLC are a cheap lithium brine play as well but they are 6 months or more off from drilling there project, ASN likewise may be 3 to 6 months off drilling there lithium project too, this may be factored into its cheaper MC than both RMX and CAD