It is a pretty hard question to answer as I don't know anything about ENX but they have their heads screwed on correctly by the looks of this Ann. In simple terms they don't care if they find a Julimar type signature or simply a copper/gold signature. I also found the comment on REE interesting as that it appears to me they think they have a (ionic) clay absorption type deposit somewhere on their tenement coverage which I presume are the ones much further north of Bindi Bindi, but I have no idea, so will be very interesting if they define one as well - these deposits are quite different to your hard rock REE deposits, which I am sure
@TheArchitect can explain as I know he holds IXR.
Returning to PGEs, nickel, copper, gold potential, the LTR Ann -
Post #:50459276 , the view in it is the Julimar signature is heading 'more' north from Julimar, Figure 3, but who knows how far south it goes and where given exploration in the area hasn't been great and IMO I personally think more than 1 nickel-copper-PGE Julimar type event has happened in this region anyway at a guess, and obviously there is also the 'greenstone belt as well'. Figure 2 shows other type prospects, which is a feature of the area as well and these are right near your northern tenements btw. Obviously looks like ENX holds land in the right spots, especially those tenements that abutt CVV and LTR (Bindi Bindi for LTR). And obviously by pegging the ones south of CHN's Julimar find they are hoping the trend line in that figure two deviates a lot further than what is in figure 3 of the Ann, but as I said the area is not well understood and in any event who cares if find say copper/gold.
Appears to me you also looked at this post of mine as well,
Post #:46741749, so given ENX land area you are probably in a better position than OAR to identify a number of drilling targets, which you have by the looks of it. OAR is still trying to work out the geology on its tenement to be frank IMO as nearology and leveraging of increases in the SP of others, without drilling gets, gets you only so far. The two posts you are linking are ok to look at a high level for ENX, as is also this one for understanding etc.
On current information PUR is in the right area given the above, and what is been seen from CVV and CPN results, but anything can happen, but has done a little more work than ENX. Ultimately drilling decides ones fate, and I don't think I will give a view as to whether your market cap should be closer to OAR or PUR, i.e. the market decides that, but I am surprised given your landholding it is closer to OARs. ENX has a very very nice landholding and by the looks of it thinks it has a 'mix' of geology which it hopes will allow it to get a çommercial find - ultimately that is what drilling is all about. A case of risk/reward. Apologies as can't assess any further as ENX appears to be at the beginning of a journey itself, and MLEM, initial exploration will help here as well as soil samples etc etc (footwork exploration).
To repeat geology is not essentially understood in the whole are, but is improving as CHN publishes more date and more exploration results come in from the others, but these further posts below - they are not mine - published in OAR show some maps that cover your south tenements, but I would treat them with caution given the area has not been explored well in the past.
Post #:46739066Post #:46739746Not much to say, so all the best to yourselves and good luck. Given I know you are in some other stocks in the area, diversification appears to be a good strategy too.
All IMO