No offence to shimmer or HC traders for that matter but if you're equating EUC / MEI success to that- which you seem to elude to, I think you put way too much credit in this forum.
MEI is at about $38m MC fully diluted today, and SP was "gangbusters" because BMR has examples of over 10% grade cobalt / MEI has samples of those grades as well. And they are right next to each other. (Don't forget midrim too)
EUC channel samples and sulphides have 5%+ cobalt grades + waste dumps so far. (Don't forget the fantastic nickel present as well).
If you want to talk about overvalued market cap, look at the Australian cobalt plays with sub .2% grade cobalt and the need for massive capex in order to mine and process - trading at multiple 100's of millions. EUC and MEI economics are multiple factors better. EUC - $200m mc and MEI - $38m mc. Nah I think they are priced well at the moment. Especially considering the massive upside.
Chart, page-146
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