ADU and EVG both seem undervalued, ADU looks to have ore that is free milling unlike with EVG that has refractory type ore that requires expensive processing balanced against lower mining costs and a higher grade for EVG, although both seem to have similar OPEX.
The financial company managment of ADU seems superior to EVG and they seem to have kept to their deadlines unlike EVG. Country risk probably lower for EVG but its ore metallurgy is riskier to scale up.
Of course EVG is a smaller project with a shorter life than ADU and thus a smaller NPV and the difference in the companies relative EVs reflects that.
EVG doesnt have the strong personality of Brian Johnson, a factor which is either going to make or break EVG
EVG Price at posting:
7.0¢ Sentiment: None Disclosure: Held
