Relative ASX Tungston Co, valuations

So Tungsten (APT) prices are up 80% from their lows to $330 / MTU (Increased demand etc).

KIS currently has a small MC of $10m given drill results and the tenements they have, also seems small relative to other ASX tungsten projects, which seem to be soaring...; TGN has a MC of $420m, WLF has a MC of $60m, AON MC of $44m etc. Is KIS undervalued? I suppose the others are at different stages of development, but still seems a big disparity IMO.