Ok a few of us were pushing hard for a buy back, but if the gold market is rallying and they are prepared to finally get aggressive with exploration it may well be dumb luck by management having waited so long
A few things of interest:-
- they seem to have an off take agreement with Saracen for ore to be purchased from NXM's pinnacle deposit to be processed at Saracen's Carosue dam mine
- 2,000m of initial drilling will target high grade areas
- secured an additional 94skqm of land that is immediately south of Saracen's Whirling Dervish and Karari gold mine which are in operation
Cash backing is around 9c
There are shells and dog gold plays that run about with $3-5M EV's, that would have NXM in double digits
Should be closer to 10c come drilling, if not sooner with POG movements
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