NEL 70mil odd shares on issue fully diluted * 3.80 = $266M mkt cap. Resource is only 19million pounds with no potential to increase the resource(it is not open, and is closed off).
Total value per pound = $14/lb. Seems very expensive. Also in WA politically risky. Addtionally NEL cost per pound is nearly $27/lb, and output is not that high at 600tpy u308
SMM mkt cap $780m dollars. exploration potential of 150million pounds plus another 100million in georgina basin. Costs per lb is $13/lb. Output is 3,500tpy over 6 times that of NEL. Its exploration is much much bigger than NEL. Total value is $3/lb, much less than NEL's $14/lb. This is absolutely ridiculous difference IMHO esp considering QLD is now less risky than WA. Additionally just look at how much less SMM's cost per pound, how much bigger its output rate and how much better the exploration potential/resource size is.
Just doesn't justify this difference. Either NEL is wayy overvalued( i note it doesn't have any other resources in other projects), or SMM is wayy undervalued. The market is clueless at times!!
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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