ENR has always attracted a premium valuation as an explorer...

ENR has always attracted a premium valuation as an explorer because Management have a strong track record, they are well connected in both government and private sector, demonstrated ability to attract and do deals with tier 1 mining companies, attract public funding, use innovative data sources and exploration techniques etc. They effectively specialise in project generation for tier 1's, targeting large scale deposits. Niobium happened by accident but they were always valued way above your average two-bit explorer.

To write this company off because they've only got the second most prospective Niobium ground in Australia I think is a bit silly, but each to their own. Any investors who are here hoping for a repeat of WA1 will likely be disappointed, but that isn't why myself and a lot of other investors are here.