You addressed your own concern: WR1 won't have an exact timing until Renard option due diligence is complete. It was discussed on the announcement forum yesterday.
The market cap differential has existed long before the Renard option, so it's not that. I would say the current lack of a freight-ready access road is a bigger reason. It's with Eskan and their funding application at the moment. If they win the state funding this risk will largely be forgotten about.
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