lets put this valuation in perspective, page-4

So what do we put the differences down to?
Is being a front runner hindering us? Are we are expected to fail?
Is it our low # of shares making swings in price appear 10 fold?
Is it because AVL have an MOU? Even though it means squat, better having those relationships in writing than nothing to show? Would be nice to have some indication of progress with potential partners.

Ultimately my biggest concern is running out of cash sometime around/before DFS, the price is still in the doldrums and then what is the next play? More dilution with free oppies?

Let's hope this quote from Ian in the email I received rings true:
"The Company is always concerned about a share price that doesn’t reflect the inherent value that has been created in the business – however we believe the news flow over the next few months leading in to the delivery of the DFS and the very high quality of the **anintha Vanadium Project, particularly the high purity of the V2O5 product, will stand us in good stead as we progress discussions with potential strategic partners / offtake partners."