XCD looks significantly undervalued on an EV/tonne basis...

XCD looks significantly undervalued on an EV/tonne basis compared to peers. From the Corporate Presentation 12/04:

Moabsvelden (XCD) today
EV per tonne: $0.17 (based on $18.1M market cap)
Status: Awaiting mining licence, feasibility study 2011

Kangala (UNV) today
Valued per tonne: $0.716 (Pursuit Capital Feb 2011)
Status: Mining licence awarded, feasibility 2011)

Vlakvarkfontein (CCC) today
Valued per tonne: $4.90 (Old Park Lane Mar 2011)
Status: In production

Each of these projects are in close proximity to each other

UNV is yet to produce at Kangala. The share price doubled within 2 months of listing in December.

A very simple peer analysis but XCD appears to be sneaking under the radar since re-listing last week. Hopefully won't be long until the market wakes up.

DYOR