I think what we are actually seeing here is that the relative...

I think what we are actually seeing here is that the relative share price differential between JV partners RIE and AUZ, with regard to their respective equity in the Dixon project, has been simply a result of AUZ having been ramped by the influential share tip sheet Resource Speculator. ie. AUZ has been overpriced.

So it has been AUZ's market capitalisation that has been overvalued, not RIE's undervalued.

This anomaly is now being corrected by the fall in AUZ that we have seen over the past few days (not by the rise in RIE that was being promoted above). Which makes much more sense to me, because on an equitable basis RIE's recent closing share price (not this morning's artificial-looking uptick) values AUZ at about 2c, which is exactly the price at which recent rights issue was made.