Get this ridiculous mispricing, as of now this moment, these two comparators in Australia, (their currency which is a little above u.s.$):
ARL
ARDEA RESOURCES LIMITED Mkt cap $140.4M
(20 min delayed) $1.65 5.17%
OPEN
$1.76
$1.65 11935
(LAST 12:54) $1.664.87%
VS.
CLQ
CLEAN TEQ HOLDINGS LIMITEDMkt cap $927.7M
(20 min delayed) $1.53 4.69%
OPEN
$1.55
$1.53 9444 10
(LAST 13:00) $1.524.60%
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I view these two companies to have equivalent resources, and while clean has a higher grade of deposit, their entire one to Ardea's MASSIVE entire one, the ARDEA CORE Zone which is in part the object of Ardea's work, and that of its predecessor, is in fact significantly higher than Clean's.
Indeed, Ardea is now enlarging that area with a huge drill program, some 40,000 meters. It has already been upgraded some, per recent news release. The over all size of the larger deposits shows Ardea's to be 4X as large. An astounding figure, So we shall see.
I cannot speak to the nickle and scandium other than to say that Ardea has a huge nickle resource, and per recent NR, obviously meaningful scandium, which it is just investigating. It could be hugely meaningful (we do not know but in their NR they are not shy about their thoughts quite obviously trying to convey something important to Mr. Market)... as they are simply reassessing the core drill receipts from the prior operator, a Major, from 6 years ago. The first target reassessment returns were outstanding. So who knows where this goes, but their nickle is very real and substantial and very valuable to say the least.
All in all, it is my view that these two should be valued about equal, so far, and Clean is a year ahead of them, but that should not account for this ridiculous disparity. Which it is.
Too, remember time is on Ardea's side. The higher the price of cobalt goes, and it will, the more of the massive deposit that they have, can be reclaimed and become economic. If they can add even 25%, due to nothing other than the rise of cobalt, this would be a tremendous motherlode windfall. Think 25% MORE of their overall deposit becoming economic, which it will.
We shall see but at 50 dollar cobalt, it ALL BECOMES ECONOMIC, or most of it, I would speculate, given that cobalt is in shortage about now, and the coming cobalt crunch is guaranteed, which is why the metal is rising........AND THEY HAVE THE LARGEST DEPOSIT IN THE WORLD, OF DEVELOPED COUNTRIES, BY FAR.
Conclusion: Mr.Market will have every opportunity over the next several years to correct this current market cap mispricing, and the fact is, both will go up, as they are wonderful investments.
