I realise the market is always right - and liquidity probably...

I realise the market is always right - and liquidity probably plays a large part here - but Poz currently has a m/cap of 2.5m with cash as f last quarter of 2m. They are 30% free carried on musgrave at present with phase II drilling on a prospective tennament that Anglo are happy enough with p I results to continue.
On this basis alone it appears severe undervalued even disregarding the other exciting projects on going.
Scratching my head.