Yes but RNU also has a market cap 15+ times ITM. Nothing personally against RNU, i think they have great prospects and in some respects potentially paving the way for ITM, but as you suggest they are at different stages - but the battery revolution has many decades to run.
I don't think the resource has to be greater than RNU, for there to be significant value creation opportunity. They have suggested a resource at 40mt can be a significant long term operation.
Obviously though if they can get the mets right at Sugarloaf they likely will have a resource significantly bigger than RNU. Lets hope they are both a huge success!
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