4.5m market cap, 700k cash plus a gold plant. Seems undervalued...

4.5m market cap, 700k cash plus a gold plant.
Seems undervalued to me due to the following reasons:
1. The Company has continued to be in various discussions with third parties in regard to opportunities to treat third party gold ores or gold concentrate
2. the Company continues to assess the potential acquisition of third party orebodies.
3. The Company has commenced preparations for an exploration program to drill a number of the targets that have been identified during an extensive review of the exploration potential within the Broula King Mining Lease.
4. Drilling expected to commence in September quarter... Well only 3 weeks left so news can be any day.
5. Asipac as a sub holder holding a lot of shares. Top 5 with 205m shares... leaving 207m free float.
6. NWH director as a sub holder recently... a company which went from 6c to 64c within a short time frame
7. Couple of similar board members as TZN and same sub holder... TZN market cap 200m...

This looks undervalued to me IMO and can add significant value in near future IMO...

Cheers