at 20 cents, AON has market cap of $52M for 80% project share, which values the project at $65M
VAR owns the other 20%, which based on the AON valuation, should be worth $13M
yet the current VAR market cap at 0.8 cents is $5M
VAR do have other projects they are spending money on and will be out of cash by 30/9/17
Ann: Acquisition of High Grade Tungsten-Copper-Gold Project, page-23
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