Well, that sure was a soft end to a strong starting week. I'm...

Well, that sure was a soft end to a strong starting week.

I'm curious about how it is that all of our peers have EVs north of $20m now, even though some still don't have mining licenses, some have resources so deep that they will never be extracted, and others have capex's so high that they'll be on the drawing board for years to come?

At the end of this week, Alara still only has a $13m EV.
The ML is officially under application in a one horse race, so this is no different to IBG now, with the exception that ALL of the rhetoric coming out of KSA suggests they want to promote Mining and involve western investors, unlike Greenland. Plus we have a viable DFS demonstrating the lowest cash costs of any of our ASX listed peers. And we have strong local partners, a board that has proven themselves to have their eye on the prize, and full support of local government. We are close to going into construction in Oman to produce annual free cashflow greater than our own market cap.

And yet our baseline valuation is still lower than most of our peers.

Funny old game it is.