sir nickel vs mlx wingellina

I'm trying to comes to grips with the value the market is putting on SIR's latest discovery, SIR mkt cap is now close to $150 million. MLX (after merger with WGR) will have a mkt cap of about $200 million of which $100 million in cash, the Renison producing Tin Mine, Wingellina Nickel deposit plus the WGR assets including Central Muchison and Rover wich combined is reported as having 4+ million ounces of Gold Resource, plus various other projects. Maybe it is just a matter of punters all being focussed at once on the one market play. T thought Wingellina was supposed to be one of the world's largest undeveloped Nickel deposits....perhaps I have been given a bum steer.