Comparison with PMT: Market cap: A$850M (LRS) vs A$2000M...

Comparison with PMT:
Market cap: A$850M (LRS) vs A$2000M (PMT)
potential resource: 100MT+ vs. 200MT+ (who knows what we can get out of the 26km corridor)
production rate: 500ktpa sc6 vs. 500-600ktpa sc6 (I reckon PMT would start from 500ktpa as well; note that although PMT has higher grade from drilling, its met test is worse than Latin's)
production time: H2 2026 vs. 2027/2028
capex: US$200-300M vs. US$600-700M
AISC: US$500 vs. US$700
Environmental issue: moderate vs. potentially major

It's not easy to say which one is better. But if we look at investment return based on cashflow models, LRS is still much cheaper than PMT now. I am not saying PMT is not a good investment (there might be some PMT holders here), but high growth of those new star explorers like LRS, AZS, DLI will make those highly-valued stocks such as PMT, CXO, SYA less attractive. Not every junior explorer can reach construction stage, but LRS is the one leading the way.