Moly Battery Material, page-5

Think they are both good for different reasons @rightyo and this is reflected in the price differential.  Comparison can be difficult if by compartmentalizing the operation to be mineral specific rather than operations as a whole where there are credits for other minerals or elements pulled out of the hole.  A lot of porphyry have layers determined by temperature where different elements precipitate out flow and mix so grade can be high or low.   Economics determines cut-off grade.   I am no expert here.

The strength of DTM lies in a lot of molybdenum.  HMX  operations have more copper, gold, silver and rare earths but a reasonable amount of moly at high grade, but I believe they have a lot of infrastructure already in place with their hub and partnerships with other big companies which DTM has yet to finalize and like DTM have other mines that are more mineral specific.  Seems they are copying the old SLR model which NST adopted.  DTM has multiple commodity in view too but not as advanced.

With either company, I would prefer to look at the total costs versus total revenue of the whole operation and then look at the credits of marginal costs and marginal revenues of each specific operation outside the most profitable stream  of a mineral sought. But the thing is, I think they are both great prospects which the price of molybdenum will make profitable.

It comes down to a value in terms the price you get for the grade.  Low grade multiplied by high volume  if accessible at low cost and long mine life can equate to high grade multiplied by low volume.  Yep, the maths has to be done.

But I prefer to diversify my portfolio rather than put all my eggs in one basket.  So when hunting up the diversity with porphyry mines that's when I looked at the three moly companies previously mentioned, and had been in before, that I though were again good speculative propositions based on what's out there.  I like to move early and buy a few when they are under the radar.  The problem is the Chinese are smarter and have picked the eyes out of the best with their longer view which is now coming back into play.

These are strategic resources sold out under our noses because this country does not have a national view.  It seems to be a country run by salesmen, and not run by those who generate wealth for toil or can think strategically with a long view, just as China did to be in the position they are in now.