missing link

I am trying to compare FMG and GBG any input would be appreciated.

Market Cap
FMG $1,457M GBG $270
Resource (all measured, indicated etc)
FMG 2.66MT GBG 766MT
Both expect to firm up higher reserves

Funding
FMG trying a few avenues
GBG firm agreement with 2nd largest Chinese steel mill

Agreements / Contracts
FMG some understandings that did not impress ASIC
GBG firm legally binding agreements for funding and offtake from 2nd largest Chinese steel mill.

So GBG appears to have removed much of the risk has better binding contracts in all areas that matter, 1/3 resource but 1/7 market cap.

Interesting.