largest undeveloped tungsten deposit ..., page-38

So if the sellers get fair market value - what's left for RAU holders?

Not much I'd say. The company might end up with a market cap of half a billion before they even have a resource. Two years later and tens of millions spent they may or may not have a resource worth mining but a market cap near a billion dollars. They will start back-pedalling just like CDU. Except that CDU actually had SOME decent drill results to fall back on.