Hi @hungrycrocodile, From a “trading” point of view BRE has...

Hi @hungrycrocodile,

From a “trading” point of view BRE has never been under-priced to the same extent. GMN has been held down for many months.
Maybe that's what you meant ?

From a “resource objective” point of view there are significant differences too. Consider this . . .

. . . that "GMN is a mini MEI now" ( not to be confused with mini-Me ), but with “benefits” (Lithium and Niobium)

The recent MEI ASX Anns
ref A https://hotcopper.com.au/threads/ann-exceptional-ree-drill-results-outside-inferred-resources.7821298/
ref B https://hotcopper.com.au/threads/ann-first-mixed-rare-earth-carbonate-mrec-produced-at-caldeira.7877803/
possibly show that MEI's best will be in a "Down Under" context in relation to Morro do Ferro ( -21.916, -46.533 Ref C )

Morro do Ferro is 2.5km E and 150m above MEI PIADD0001. MTR seem to have a nice minerals exhibit (aka 'rock samples') but no mine.
They have high grades, but cannot use hydromet extraction ( pdf ) .
BTW : MEI's highest Hole to-date is still 100m below Morro do Ferro ( MEI CERDD0003 is 1.5 km to the SE ).

Unlike MTR, MEI have demonstrated hydromet extraction from clays ( see Table 4: CDM Master composite plan, pg 2 ref B ).

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GMN's strategy in Bahia East is to be at the interface between uplands and the plain.
BRE's strategy has been aligned with thorium (the uplands), tho' recently has increased claims on the western plains.
The Diamond Drill Core on ( ASX Ann pg 6 ) can be compared with Ref C.
BRE have also reported assays from Auger Holes, so BRE seem to be chasing both hard rock and clay at present.

IMO GMN's focus is on finding a resource where hydromet extraction can be used (like MEI), any source rocks found are just a tenement "bonus".

Disclosure : not a holder of MTR, MEI or BRE