I have and a few colleagues have also @Mobze , we're into it for many many many millions of shares across the group.
Doesn't mean we're right but anytime we run the numbers its very undervalued and stacks up as economic at lower prices and higher.
Someone will make money from this deposit, i hope its NWC and its shareholders.
I only say it this way as @arsenic may remember STB which became DNK. The deposit was world class but the management mishandled the project after initial discovery.
I still made money but after meeting the management in Perth and their staff they were all ex BHP and RIO which means they are big company process driven and not the lean and mean small company types needed in the junior space.
I sold out and invested the money elsewhere and by sheer luck made multiples in the new play a month later. (CHZ)
Big company overlay in the small company space has too many inefficiencies. Its why I laugh when people think BHP RIO etc are the be all and end all, they are very inefficient and have too many layers. Its why they always end up buying out mid tiers at the top of mining cycles.
You need small company nouse and a can do common sense approach which i think the team here has. I mentioned the DNK deposit as it was a no brainer, it was Tier 1 but management let it down, compared to the valuation it could have attained based on the size and style of deposit. Different commodity but there's a certain process thay all miner/developers follow.
The analogy here is the deposit is a no brainer (not Tier 1 yet, but super high grade and super economic with low jurisdictional risk). The management here have done it before multiple times in the junior space across many jurisdictions, so very different to the above example.
You can't export conviction, but for me, this is a no brainer, just a matter of when, but I may also be wrong, but obviously i don't think I am.
A bit long winded but I find context is important. Best of luck to us all.
NWC Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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