TNG has a smaller and lower quality battery metals resource than VMC and TNG is in mining unfriendly NT. While TNG is far more advanced towards production the company has a market cap of $111m with low liquidity. VMC has a market valuation of just $37.8m and has 30% of Grace and is equal partner with Rox on a range of highly prospective Younami and Penny West targets. Plus Venus has about $10m in cash or assets easily converted to cash. Market valuation for VMC's monster battery metals project is currently zero. But battery metals will be in high demand with the EV revolution and high quality resources are extremely rare. Of course this is a high CAPEX project, around $600m, which is out of VMCs league. But a farm in with VMC free carried for 10% ownership or an outright purchase of the project ($20m cash plus royalty?) is on the cards imo. Venus has a very low market valuation for its gold and battery metals resources and their potential.
VMC Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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