E25 4.00% 26.0¢ element 25 limited

can someone explain why JMS is already producing manganese and...

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    can someone explain why JMS is already producing manganese and targeting production at 4.5M Tonnes per year for the next 37 years, while E25 is still in development stages and aims to produce 341,000 Tonnes per year. This is an 13x difference in production.

    But somehow the MC of E25 is $348M and the MC of JMS is $597M?

    Which one is overvalued / undervalued?
 
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