nmr valuation, page-14

All good.

Thanks for the reply.

3.7 looking fairly solid though?

Or can this literally be a case of bigger traders building trust in the that level over a month or so - then looking for T+3 scalps when they pull the floor out and let her drop?

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Couple more questions if I may... seriously asking here mate. You seem to have a strong opinion - so i would like to know what you reckon.

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1) The off-screen sellers - do you reckon they are traders (in one day - out the next - building nice 5/10% "free-carrys" at a time) or genuine sellers buried off the radar of the Top 20? Just wondering were you reckon the volume is coming from.

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2) The $2 million or so NMR have, will seemingly last a while with minimal cash required (drilling being planned at present etc). What do you think the strategy for getting more cash - having seen these things play out in the past?

Noting that last cap raisings were at 6 cent then 2.6 cents - and now with directors, DJC broker, and TRIPROP all holding shares placed for payment of services rendered and transactions completed (ie - not happy to see raising at lower price)? Also given it is a very tough market!

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3) Given the DJC rated this at 17 cents on potential success in Southern drilling, what do you think this will change to if and when NMR were to review the inferred resource to perhaps 6.5 billion tonnes of similar quality.

How much weight have you seen the market give to these type of valuations in the past (especially given DJC will benefit from any increase in SP)? Not knocking the stock here - i am holding quite a few!

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4) What is your understanding of top 20 lists (when you get them weekly form the company). I was wondering if there is a way that people can hide accumulation from others (apart from buying in desperate names/accounts).

Example 1 - normal trade (I wish)

Day 1 - BSH buys 3,000,000 NMR shares
Day 4 - BSH appears with 3,000,000 NMR shars in the top 20 list



Example 2 - dodgy trader trade (is this possible?!)

Day 1 - BSH buys 3,000,000 NMR shares
Day 1 - BSH immediately buts them up for sale - high up in the sell queue
Day 2 - BSH pays broker for 3,000,000 shares
Day 4 - Does BSH now appear on the Top 20 - or would I be hidden from view as it were - given that they are technically now for sale???

Any other tricks any have seen?

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Regards
bsh