I think you would need to be very patient. NUS floated about 3 1/2 years ago, they talked of producing gold in 2020, that became 2021, now 2022, I would be surprised if they are producing in 2023. They still need finance to construct the mine. As I understand it, a condition of the mining licence is that after 10 years of production NUS are required to sell out to an Indonesian owner. Always a sovereign risk in these places. There is potential for exploration upside and they should benefit from a rising gold price and vice versa. The slow pace of mine development has been disappointing.
NUS Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
