458000 nwrjust crossed at 34.5

NWR has been very very well supported in the face of yesterdays news about the 1 for 3 rights issue at 31 cents. Over one million shares have already changed hands since yesterday morning. The stock will go ex tomorrow.

Judging by shear professionalism of the team running NWR and the fact that they have drilled out a JORC resource of 250,000 ounces of which 190,000 ozs are 43 g/t. and in their Annual Report referred to a potential of one million ouces on the Blue Shear as their 2007 target. I assume that they have some deep pockets who are now coming on board because IMHO this thing is going to get much much larger.

The rights issue will be followed up by results of drilling on the shear system which must be very close. These results must be very interesting to suddenly ramp up the next round of drilling in this way.

$2.8 million is going into development of Blue Spec. which is currently at 165,390 oz equiv at 46.3 g/t over 150m of vertical plunge. That is 1,100 ozs per vertical meter, this number is simply staggering. My reading of their reports indicates that they have been doing more drilling within this same zone for more ounces. NWR have stated that they intend to drill out a further 150m
going ou to the end of this financial year. IMHO this will add another 165,000 ozs to reach 330,700 ounces at 46 g/t PLUS whatever new systems they have uncovered that exist next to this resource.

One analyst alluded to the fact that NWR could be producing 200,000 high grade ounces per year from this property and IMHO Blue Spec will provide the bulk of these ounces.

The 16,000m exploratory drill program is now into well into its third month. At last report NWR had drilled out four conceptual targets AND now they are gearing up for more with $1,500,000 to be fed into drilling on some of the THIRTY plus targets. IMHO they have struck more high grade veins. This is conjecture on my part BUT i cannot avoid this conclusion after reading NWR's reporting and Carmichaels Research on the company.

There is still more and that relates to the other two high grade Specs that have been drilled on and Camel Creek project. I notice that another WA broker called Delta Capital has joined in to support NWR and would not be surpised to see a lot more support coming soon.

I have been buying more oppies this week and am stunned that I can get more at 14 cents this morning. This is like shooting ducks in a barrel. The leverage will be staggering when NWR "lights up".