Thanks for all the kind responses.  A few comments...

Greenday - I wasn't employing a methodology... just making an observation that FCU and NXE remain in a fixed ratio that yields the same takeout $ per pound value based on fully-diluted share counts and published NI 43-101 compliant resource estimates.  I wholeheartedly agree that when you take cash and Indicated Resource superiority into consideration then FCU is being very much undervalued by the market compared to NXE, giving it much higher upside potential heading towards an eventual takeout offer.

On the Arrow NI 43-101 Resource Estimate, I did have a read through the document and 2 things immediately jumped out for me.

1.  The Arrow MRE does not include any Metalurgical test results to indicate whether or not the U3O8 contained in the ore can be effectively milled and leached to yield a high U3O8 recovery rate.  (Fission's MRE for PLS contained a set of MET tests that confirmed effective U3O8 recovery rates of between 95% and 99.4%.)  So, not only is the U3O8 captured in RPA's model 100% Inferred, there is no test data indicating whether or not that inferred U3O8 can be processed efficiently and how much could be recovered as yellowcake for delivery