AZ's valuation and other thoughts about its project in AZFolks, I like zinc and the bullish outlook so I m checking Arizona Mining (AZ) among many zinc plays. But I m somewhat concerned with the valuation given that AZ's Enterprise value far exceeds C$1 billion while AZ remains an explorer and the first cash from its project will appear in 2021. Has AZ run ahead of itself? What about cost overruns by then? What about the additional dilution given that the existing cash is not enough to bring the project in production? I'm a value investor and I m also checking Ascendant Resources (ASND), another zinc producer, a new zinc producer, not explorer, that generates already a lot of free cash flow and has zero debt and a lot of cash. ASND's current Enterprise value is UNDER 2 times its 2018 EBITDA. This is dirt cheap. The latest news shows that ASND is in line with guidance. Insiders own 16% so they are aligned with shareholders. Ideas?