Based on the coal asset alone, there is absolutely no reason why...

Based on the coal asset alone, there is absolutely no reason why NAE could or should not be valued at $50M MC.... $50M MC, from my observation and analysis of junior explorers seems to be a top that companies can easily reach (bar having a monster metalliferous deposit) before the reality of realising and bringing that value to life comes to fruition i.e funding and development. Then the down cycle begins whilst the market factors in the uncertainty of delivering these outcomes.

NAE is not a 1 horse show though, this is what I believe the market hasn't factored in yet, any actual realised sniff of future gold and tin development could send it through the roof. The market treads carefully and then acts irrationally.

Alas, we await...