Ann: Branches Prospect Results Support Significant Gold Camp, page-15

It seems like NXM has a problem convincing the market that the deposit is sizing up to something meaningful (I say this as a shareholder, who thinks it should be valued higher).

Probably there's the view that the company is going to have to raise new capital soon as well, which will be at a discount to the market price.

The question is what is going to change that perception. A resource update that surprises substantially to the upside? Diamond drill results that suggest growing the discovery at depth? M&A or corporate activity in the region that triggers a reappraisal of the value of NXM's ground?

At the moment, the steady release of more-than-decent results isn't doing the job in raising the share price pre-cap raise, unfortunately.