most undervalued urnanium stock

RSG is probably one of the most undervalued uranium resources in Australia.
Since Sept 'O4, SMM has risen from .05 to .70 or over 1000%. RSG started Sept '04 at $1.10 and has fallen to .96 or some -10%.
What is wrong with this stock. The uranium resource doesn't seem to have any value at all and yet it owns 50% of Summit's Valhalla and Skal projects.

Some more facts
RSG is the third biggest gold miner in Australia and has the third largest quality uranium resource in Australia.
RSG has almost as much uranium as SMM and almost twice SMM's resource value in gold.
If you include RSG gold resources, RSG is worth twice as much as SMM ($7.43 as compared to $2.93)

Check out the calculations below -
RSG
Market capitalisation - $216 million
Bookvalue - .72
Uranium
Bigrlyi 2.38 million lbs
Valhalla 18.2 million lbs
Skal 3.8 million lbs
TOTAL 24.4 million lbs
Value @ $26/lb profit - $634,400,000
Gold
All projects - 9,927,050 oz
Value @ $150/oz profit - $1,489,057,500
No of shares: 228,493,309
Value per share: $7.43
Total Value :$2,123,457,500
Discounted 20% = $1,698,766,000

SMM
Market captilisation - $134 million
Bookvalue = .05
(50% stake with RSG)Valhalla 18.2 million lbs
(50% stake with RSG)Skal 3.8 million lbs
Anderson 4.5 million lbs
TOTAL 26.5 million lbs
value @ $26/lb profit - $689,000,000
Discounted 20%: $551,200,000
No. of shares: 187,930,021
per share value: $2.93

Check facts here v
v
v
http://www.energymetals.net/docs/eme%20q%20final%205.8.05r.pd
http://stocknessmonster.com/news-item?S=SMM&E=ASX&N=272326