I have compared to CEO too. I understand both stocks have a very...

I have compared to CEO too. I understand both stocks have a very similar fully diluted number of shares on issue (CEO has way more options and they are in the money).

The key differences for me in the short term are:

CEO has completed it's initial drilling due diligence and is yet to indicate when further drilling will start, TVN is still drilling so more results are due.

TVN has a target resource based on earlier exploration of the area, which will be likely be upgraded significantly.

CEO will need to raise capital, TVN has just raised capital

TVN hit a larger seam of coal than CEO

CEO confirmed quality of coal, TVN has not confirmed yet