You're right, so current EV is circa 4.5m ..... hard to judge its fair value without some revenue. Hot Copper should really update the Mkt cap (showing it at 2.7m).
KAI Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
MND Albermarle lithium downsize burns $200M hole in Monadelphous's pocket as latter's contracts terminated
GML Gateway Mining sells WA Eastern Montague gold project to Brightstar for $14M – half of that in shares