Unfortunately as an explorer Navarre are cash negative at the moment & would have stayed this way with more copy & paste capital raise, drill holes, spend cash on exploration, capital raise activities. As time ticks buy, more capital raises would have been done on the current path Navarre were on. Navarre would have suffered further dilution unless they find something enticing to sell off to a bigger player to bank some cash.
I'm not someone that keeps an eye on the price of gold mine real estate but at $90M payment in round about ways, there's probably not too many cheaper gold producing mines out there. I say $90M payment in round about ways due to Navarre not needing to find $90M straight up, it's $90M cash, shares & production payments. I believe that give it time & once Navarre are cash positive the share price will increase accordingly as there'll be no more capital raising in theory for exploration activities in Vic etc.
I can't help but think Evolution want in to some of the Victoria assets too & now they'll own 20% of the company they'll in theory get a discount on some assets if they purchase them off Navarre & have some say in the direction the company goes in.
NML Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
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