HavingfunEven taking the resource numbers at face value,...

Havingfun

Even taking the resource numbers at face value, valuations and market sentiment are a totally different matter in the current climate.

I think in IVA's case the resources were already somewhat factored into their "juicy" $2 float giving them an intial Mkt Cap of $625M, and it was going to be hard for them to surprise significantly on the upside. The retrace to $1.30 is probably more about the overwhelming negative short-term market sentiment that prevails. That said there are still of course some fairly disparate valuations for the various NW/Qld / Cloncurry-based copper plays at the moment (e.g. IVA/CDU/EXS/URL).

In making an assessment I think its most important to contemplate the timeframes & probability for production and the potential price tag for development. These are probably least well understood for IVA at present, hence the market likely thinks there is still plenty of time to wait & see.