And both MEI and ARR are slated to release a scoping study in Q1...

And both MEI and ARR are slated to release a scoping study in Q1 2024. So I think this isn't the end of comparing these two against each other, the fact that both studies are releasing at the same time, there is bound to be REE investment money moving from one to the other depending on their relative results. I think I can guess which way the money will be flowing, so I'm going to be looking for an entry here when the SS drops.

Companies can only hide behind generic statements "low capex" and "low opex" for so long, eventually an engineering study completed by an independent third party must be released. And the results can be brutal (exhibit A: CHN).