Net assets vs market cap

My broker’s website indicates POS has net assets of $138 million, the lion’s share of which is plant and equipment.

Current market cap is $66.6 million, less than half the book value.

I would appreciate it if someone could check my calculations. Am I missing anything?

I understand that plant and equipment needs to be operating to extract vale, and that other mines in the near the Black Swan open pit are stranded due to a lack of access to infrastructure.

I’d appreciate the sharing of any sensible thoughts on this topic.