Mate,
EV/t = MC (sp * shares on issue) / resource.
As I said - its not a fixed formula - there is a premium on offer if the co is a takeover target, if the co is in production etc, if the co has a BFS.
I'd look at those plays where EV/t is greater than $1 and see what stage they're at, then do a comparison.
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comdek limited.
throw your media reports in here, page-16
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