regarding PMET... it could work out okay if the permitting comes through on their desired (imo optimistic) timeline, and it gets acquired by a big player.
Scale is desirable. But it also carries high permitting risk, high capex and capital intensity. They even admit in the document that they need the full extension of Route 167 up to the TT highway.
At current valuations PMT's potential upside vs WR1's is hugely limited, plus WR1 has less hurdles, because building a 80km mining road is a lot easier than permitting the draining of a huge lake and building a 18m high x 600m wide dam to protect the mining operation.
A decade+ ago the Quebec govt paid for the majority of the road to Renard. That was before the big govt battery supply chain push which, among other things, has seen provincial and federal govta provide pretty ridiculous subsidies and tax incentives to the big players.
The road isn't going to be unpopular, will facilitate jobs and taxes, and it's good for the Cree. Additionally the Quebec govt will likely become a major holder of WR1 over the next 2-3 years via the exercise of the Renard option.
regarding PMET... it could work out okay if the permitting comes...
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Last
$1.29 |
Change
-0.015(1.15%) |
Mkt cap ! $245.1M | |||
| Open | High | Low | Value | Volume |
| $1.33 | $1.35 | $1.27 | $636.0K | 489.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1970 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.33 | 9000 | 1 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.28 |
Change
-0.015 ( 2.71 %) |
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| Open | High | Low | Volume | ||
| $1.35 | $1.35 | $1.27 | 129488 | ||
| Last updated 15.57pm 03/05/2024 ? | |||||
| WR1 (ASX) Chart |