Let’s be fair, DTR has just done a >10x recently in a month, mostly running on "REE potential" alone. Not even a REE resource yet. Current share price is 5.5c, market cap ~A$155m, they’ve got ~2.8 billion shares out + ~850 million options? That’s ~3.7 billion fully diluted, making the true market cap closer to ~A$210 million.Yes, they’ve got 1.1Moz gold, that’s about ~A$5.4 billion in-ground value.
Now look at TMG:
- ~135,000 tonnes of antimony = ~A$13 billion in-ground value at today’s price.
- They’ve got plenty more exploration upside.
- TMG’s current market cap is just A$57m. Even fully diluted it’s a fraction of DTR’s.
And let’s not forget: Antimony is a designated critical mineral by multiple governments , strategic and scarce, and not easily substituted. It’s arguably more essential than both gold and REEs, especially with China holding the cards on supply.
Do the math， it’s not rocket science.
TMG’s fully diluted market cap is about A$77 million.Their in-ground value (based on current resources) is around A$13 billion and that’s before factoring in any upside from exploration, which looks pretty solid.
Now take DTR， they’ve got about A$204 million fully diluted market cap, and just A$5.4 billion in in-ground value (~1.1Moz gold).
That means TMG has roughly 3x the in-ground value, but is trading at only a third of the market cap? Thats too much undervalued.And let’s be real， antimony is not just another metal. It’s a critical, strategically scarce mineral, used in everything from defence to energy storage. You can’t replace it easily, and supply is heavily dependent on China.
So yeah, TMG is undervalued massively.
