@Spekul8 ... WA1 has a lot of 'good' ground in NT as part of Arunta basin, but it's only 'ground' just like ENR has until something is discovered.
Currently we have a bit of Nb, nothing else, while everyone holding likes to think we'll discover a lot more (I don't count 0.3m of 2% copper at 634m deep as being worth anything).
IIRC it was Mincor that picked up ground that BHP discarded after a dud hole at Prominent Hill, drill ed about 50m away and made the discovery, with Mincor being taken over by Oz minerals. The point being ground is really worthless unless you make a discovery, or hint of a discovery, so doesn't add any real value.
There are always hundreds of thousands of sqkm of ground that anyone can go and stake a tenement over, and there will be some great minerals under some of it, not yet discovered, nor thought worthy of looking there.
Luni is obviously a great resource of great value for WA1; while we have a discovery, but no idea how big it is. It could be bigger than Luni, or it could be a fraction of the size, hence why our SP should be a fraction of WA1's until it's proven otherwise.
ENR Price at posting:
55.5¢ Sentiment: Hold Disclosure: Held
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