look at the website nadl, page-3

From the broker report:
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Valuation
Should NAD achieve its vision of becoming a fully integrated diamond producer and marketer, its value will increase significantly. We have valued NAD at A$0.48 per share at a
discount rate of 20%.
Tabulated below are NPV per share value for a range of discount rates:
Discount Rate; NPV Per Share(AUD)
15% 0.62
17.5% 0.54
20% 0.48
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20% is a conservative discount rate in calculating NPV in my opinion. Not inappropriate given the hit and miss nature of diamond exploration and mining but if the known pipes deliver the consistency expected you would think that 0.48 would undervalue the company in the long term. Further on they also state that they are using a 2% growth rate. Very interesting reading. Would be nice to see it surge to their short term target and leave the current levels well behind. As nudges said, time for the company to get some news out there and build on this interest.