Ann: Large mineralised carbonatite emerging at Green -West Arunta, page-15

Don’t forget Ben Grahams invaluable observation: “In the short run, the market is a voting machine but in the long run, it is a weighing machine.”

The problem is that both companies are a long way off being weighed. That is, the economics of extraction and sale can only be speculated upon at this point in time. While WA1 has a head start, as far as market valuation goes it is speculative for both companies.

Relative comparison between the two is fairly pointless, it gives no guide to the intrinsic valuation of either of them.

Whilst I’m a holder of WA1 based on an earlier view of the geological quality of Luni Ike agnostic as to which company has better prospects in the long term. I also find the competitiveness between acolytes a bit confusing. There is no premiership cup here. Each company will benefit from the success of the other in the form of infrastructure and interest from mining houses. Be happy for the success of your neighbour.