Totally agree with your comments with regards to Andy Tudors position becoming untenable as soon as the MRE dropped. As I have already previously stated as far back as August last year when I asked whether NXM would be in a position to announce a 500k oz MRE when eventually released, the reply was an emphatic YES we will. The next real kick in the guts for current holders is going to be an inevitable capital raise and the dilution that comes with it. I recall being a little disappointed when the $19 million capital raise was done at 46 cents which was done on the back of all the hype that management themselves created over DD4 and DD5, which both ended up basically being duds. Euroz brokers analysts and larger shareholders where flown up for a site visit, me included. I recall everyone being asked to pick the meter of the core that we thought had the highest grade in it and that an expensive bottle of champagne was on the line for the person that picked the meter with the best grade. How could any Geologist get it so wrong, let alone raise an obscene amount of money on the back of it, only to be so overwhelming inaccurate. It was also touted that the next raise will be well and truly north of 46 cents.
NXM Price at posting:
6.4¢ Sentiment: None Disclosure: Not Held
