is alara the best horse for coming zinc boom?

Been running the ruler over some investment options after brief review on zinc thread today and have to ask the question.

In short see AUQ as an attractive option due to their progress and timing of their project for 2017. This from a recent preso:
o Project revenue: A$2,074M
o Project costs: A$1,201M
o EBITDA: A$873M
o Cash flow (post Capex): A$467M
o Capex: US$257M
o Project NPV: A$170M
o IRR: 23%
o Weighted Avg cost of capital 9.1%
o Payback: 2.8 years
** Study based on zinc price of $US1.05 per lb
Top 3 shareholders 27%

So I don't overtly cross ramp, there is another player which you guys are probably aware of with these metrics:
o NPV: US$609 million (post tax US$354 million)
o IRR: 32% (post tax 22%)
o Capex: US$429.3 million (contingency included)
o Operating Cost: $US0.68 inc shipping
o Payback Period: 18 months
o Life of Mine Revenue: US$5.65 billion
** Study based on zinc price of $US0.85
Top 3 shareholders 42% (main ones Nyrstar and Glencore)

AUQ have 26MT@ 3.3% zinc and the latter 71MT@ 5.7%

Both companies have current market cap of around $21M, though AUQ are heading towards 60% of the project and the latter has 100%.

Without going on, expect both projects have great expectations and would appreciate comments on why the latter has the same market cap.

Best wishes all zincies!