Hartley's initiate coverage, page-10

Not that I would bet against a Fosstradamus prediction, but I tend to agree with you.

I just think that if Andy was expecting or looking for a cheap takeover, why bother starting the initial work into the other tenements..... Especially Mt Celia which has been mothballed for years.


My theory is that rather than a complete takeover, we might see someone buy the Crusader to Branches resource(or a JV) within the granted mining licence.
Or even a JV of the whole Walbrook package.

The second party would get the obvious benefit of a good consistent resource to mine, plus a relationship with a proven quality explorer that has much more potential.
NXM would get royalties from the Crusader-Branches ore and a very good cash injection to explore the rest of Walbrook, Mt Celia and Vic tenements. Plus a foot in the door of a gold producer with nearby infrastructure. This is purely speculation, probably more so based on the outcome I would like to see pan out.
I think the movement into the initial steps of exploration at Mt Celia add some weight to that scenario.