You are comparing apples with oranges.FMG owns their own...

You are comparing apples with oranges.
FMG owns their own railways and mines.

ANS does not hold any mining licenses.
Our only involvement ]currently] is with the railway, and as project management partners.
Although a lot of announcements read more like we're on the sidelines with language like "ANS has been advised..." etc.

Therefore our % "take" will be considerably lower and therefore valuation would be lower than what you are suggesting.

Some posters have been behaving like children in a lolly store.
It's nice to dream, but keep it real.