I'm hoping that they punch out at least two DDH in each...

I'm hoping that they punch out at least two DDH in each prospective area (add another 1000m to the 2000m drill schedule).

Slide 3 of the Corporate Presentation released today, 14 March 2024, indicates that as at 12 March 2024 NXM had $6.2m. https://hotcopper.com.au/threads/ann-corporate-presentation.7900323/

Cash burn is currently circa $700k per quarter, most likley will increase a little, and drilling 2,000m at circa $200 per metre is $400k; this quarter we might spend about $1.2m. Adding another $200k definitely wouldn't hurt us, but Andy is currently running it nice and lean until we know more about what is going on and/or monetise Wallbrook.

Potential capital raise? $1.2m a quarter ($400k a month) suggests that we will have circa $6m at the end of March 2024, with 5 quarters remaining at that cash burn. Assuming we wouldn't want to raise with any less than 2 quarters (using ASX rules) we have until the end of December 2024 before we 'have to consider' a further raise.

Ideally by that time a number of steps will have been taken a raise will not be 'necessary' and any raise will be at a significantly higher SP.

Tough down this end of the market especially with not a lot of love, but I consider that we are currently reasonably well placed, all things considered.

Oh, and @bevter and others, no one is stoked about the significant price decline. That said, I was a buyer from early 20's (missed getting in early sub 10c) through to mid 50's. I should have sold out anywhere above where we are now (lol). There are some very, very tidy investors who managed to keep emotions out of it, and cut their losses towards the peak and throughout the decline. Something I will probably always need to work on, is cutting losses.

However, I've also been a buyer at these low levels (as my posts have indicated). As @robbo24 has said, NXM has some extremely prospective tenemants. If NXM can bring in cash, there is serious future potential. (Frustratingly?), only time will tell.