Let's compare.PDI with infer resources of 4.2m oz , cash $50m N...

Let's compare.
PDI with infer resources of 4.2m oz , cash $50m N 10 rigs on ground drilling more metres to convert to indicated resource N reserves.
gold at Depth from 0m to 800m varies.
Drilled 75,000m from 2020 feb to Aug 2022
PDI M. Cap $315m
STILL NEEDS
1. Drill more holes
2. Built a 4 mtaor 4.5mt/a mill
3. More capital funds raising.
4. More nails biting.
5. Time - another 3 years b4 pour gold?

Vs TIE m. cap $482m
Cash end Aug, $60m. What else need to be paid in Sept, Nov and Dec b4 the gold is out?
Fully funded to pour Gold in Dec 2022. Expect 260000 oz in first year.
Let said TIE is Late . Pour in Jan 2023 instead. WE can live with that.
Let said, TIE have another CR. for A$20m to shore up the capital. WE can live with that.
First year expect Gold price US$1700- US$900m = US$800 x 260000 = USD $208m = A$290m
N no debt to pay off. All be profit after taxes are paid.
Open pit
Resources 3.45Moz including 1.82Moz Measured & Indicated. This resources may go up to 4 moz next year as TIE drill more holes
Probable Ore Reserves increased to 1.7Moz
Mill 4.5Mtpa
with 8 rigs .Will drill another 120,000 m X $35/m = $4.2m to $5m ( Fuel price increases) to convert Probable Reserves to proved Reserves.
N increase resources to measured N indicated.

I think TIE is undervalue or PDI is overvalue.
The market is imprefect.

DYOR