Ah yes, i thought you were valuing avz, not the resource. Avz do hold further 100% owned tenements that could offer extra value down the track.
At 8c i get an mc of approx $140m (fully diluted with the options)...I don't take the HC market caps at face value.
Very likely the unusual wealth of positive historical data, coupled with that outstanding first drill result, is leading to a lot of optimism that the upcoming 6 results and then more extensive drilling program, will be very positive.