I can’t pretend to understand completely the rationale of Management but I believe that part of their thinking is that if they just keep drilling, sooner or later, they will hit the motherlode. This is the sort of deposit which just keeps on giving, and we’ve seen some massive intercepts early on in NN’s drilling life. There is a fair chance that either NN is replicated or that something exceptional is lurking beneath. I don’t think you can blame them for going hunting right at this moment. If you’re going to do it, now’s the time while you still have plenty of cash - conceding that the cash will be used quickly at current rate of drilling. Maybe the current understanding of NN is the best it will get, but the gut tells me we’d be real unlucky to not hit bonanza grade and intercepts at some point in the next 6months. I don’t want to wait ten years to find out. I’m happy to roll the dice at this moment. Just for a little while longer - say 6 months. My opinions only.
SPR Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
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