The market value of VEN is 3.31 times the market value of MEL ($70.19 million vs $21.2 million). If Cervantes was a success, there wouldn't be a large difference. Now, MEL has only 25% of Vali and Odin. On the other hand, VEN has two other joint ventures as well as 50% of Vali and Odin.
It seems like the management of VEN is doing all the work for MEL at the moment. The management of MEL appears to be doing things like recycling the company presentations and updating quarterly reports.
The market value of VEN is 3.31 times the market value of MEL...
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