Agreed, it is priced for failure at these levels. Unfortunately, it seems that nobody wants to touch a company with less than $0.5m in the bank. You would think that Télimélé would be ripe for a farm-in for exploration and DFS. Even if NXR can retain 15-25% it could still be a small slice of a very big pie.
Fingers crossed we will get some bonanza gold numbers from the Ivory Coast sampling shortly
http://www.nemexres.com.au/sites/4dbe04e850ee853d0e00046d/contents/content_instance/525df9ef50ee852b71000df7/files/gold_mining_journal_oct-dec_2013.pdf
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record low, time to buy?, page-2
Currently unlisted. Proposed listing date: WITHDRAWN
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