Undervalued?When I look at the sales of other tungsten assets this year in Portugal and Spain I am struck by the divergent valuation for the properties purchased in comparison to the current total valuation of Playfair. In April of this year Ormonde purchased the remaining %10 stake in their Barruecopardo Tungsten project for 2.8 million Euro (about 4 mil CAD) putting the project at a total valuation of approximately 40million for what is essentially an undeveloped tungsten deposit of very similar grade and size to Playfair's Risby. Also, in August of this year Colt resources purchased the mineral and land rights to a project in Portugal for for 10 million Euro of which 3 million (4.3 million CAD) can be attributed to the sole value of the mineral deposit. This Tungsten deposit is similar in total size, but is of lower grade, (1.3MT @ .57%W03) than Playfair's Grey river project (.852 @ .86% W03). While I realize that there is more to consider than simply grade and deposit size it seems that the market isn't giving Playfair's properties the proper consideration they deserve. With nearly 2million in cash on hand and market cap of 6 million that puts the value of Playfair's tungsten assets @ approximately 4 miillion which could be argued is less than the value of Grey River on it's own. Whether or not this is ever realized in the share price is anyone's guess but one has to wonder if Playfair isn't trading at a steep discount relative to the assets it owns.