Meridian mining comparison

TSX. MNO

Meridian Mining

https://meridianmining.co/operations/espigao/

"The Espigão Project is Meridian’s flagship manganese project in Rondônia. It is already producing and selling high-quality manganese oxide from surface colluvium while geological work is underway to identify veins of high-grade manganese to support longer-term production."

They are worth CAD$95M, so around AU$97M

They only have 2 plants, one can do around 30ktp.a the other upgrading to 70ktp.a, so 100ktp.a total



Their recent offtake wasn't that huge either, only 38kt

LONDON, Oct. 31, 2017 /CNW/ - Meridian Mining SE (TSX V: MNO) ("Meridian" or the "Company") today announced it had secured an off-take with Grupo Maringafor 38,000t, of which 20,000t will be prepaid in 3 tranches, with the first prepayment received in October, 2017.

There is nothing special about this to warrant it being worth 7.5 times EPM. Then again, ROL was worth $95M with a 700kt resource

So in the event EPM do prove up 1-2Mt and can have this processing 100-200ktpa, it really should be worth circa $100M+

Compared to both ROL and TSX.MNO, EPM is unbelievable value