Ann: Quarterly Activities Report, page-2

This looks (on paper) to be a really interesting project. Is it the funding risk that's deterring Hot Copper followers?

Latest presentation:

https://static1.squarespace.com/static/590ff67b440243109d2aed50/t/5e4b8a2b6ddc335ff2882e86/1582008935243/20200211+NUS+RIU+Investor+presentation+_FINAL.pdf

Currently NUS own 100% of a gold project in Indonesia.

Mcap currently A$42m at 22.5c

They are looking to secure funding via US$40m deal with an Indo partner – Indika, which will dilute them to a 60% project stake

Research from NUS website:

https://static1.squarespace.com/static/590ff67b440243109d2aed50/t/5e9ea8b19f796240d6c59401/1587456182702/MST+Access+-+NUS+Update+-+20Apr20.pdf

Numbers based on gold at $1250/oz…

‘With a Definitive Feasibility Study (DFS) completed and an estimated capital cost of US$162m, the project hosts an open pit Indicated and Inferred Resource for 2 million ounces (2 moz) of gold and an updated Ore Reserve of 1.1 moz of gold. Production of approximately 100,000 ounces (100 koz) per annum is targeted with a minimum 11-year life’…

Anyone?