At 1m tonne and 100% ownership its still less than Jupiter at...

At 1m tonne and 100% ownership its still less than Jupiter at 50% of Tshipi at 4.5m tonne. JMS is also a lowest quartile tier producer ~$2.20 dmtu, they own all the infrastructure and rail at their mine, and its a preferred mine for transport as they have a fast load out right at the mine.

I've been watching E25 for about 12 months, and bought in a few months back. It looks like a great company and I'm looking forward to seeing it reach production and expand, it doesn't really explain however the market cap proximity to Jupiter. Saying management is the difference isn't a valid argument as Jupiter has a huge share register of majority shareholders from POSCO, to Pallinghurst and AMCI (which recently bought out Pallinghurst's stake). Hans Mende knows his stuff, so does Brian Gilbertson.