@JAar that is some very good advice and disciplined investing.. I wish I had drawn the same conclusions as early as you did.
I was skeptical of the forecasts and multiples put forward by the Company and analyst at first (see below forecast P&L summary from April 2021), evidenced by some of my initial HC posts on NNG, but eventually drank the kool-aid. Had the targets been reached it would have been a different story altogether.
NNG has some life left in it provided the dilution ceases, only high-margin profitable revenue pursued, costs completely stripped back . Assuming revenues are around $8.5m for FY23 and the Company is approaching break-even given the cut to overheads, it is looking ridiculously cheap at $2.5m market cap.
Still only has 200m shares on issue today so hopefully the remaining directors have learned their lesson from the mistakes of the past and drive this Company forward responsibly focusing on the basics of good business.
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@JAar that is some very good advice and disciplined investing.....
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STRATEGIC ENERGY RESOURCES LIMITED
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