So NWM have updated the markets and stated the purchase of yet another lease waiting on connecting with Survey Team and need Land Access application to proceed. They have all other leases on hold due to low COH. CR was only $1ml. How with this fund directors salaries, lease obligations, company outgoings and commence any concrete and sustained drilling program on this new lease let alone their existing leases. NWM have provided no historical data on why this lease was acquired. Nearology to WA1 is not a good indicator. What's happening with the pervious lease acquired 6 months ago ?. IMHO the BOD are out of their league, hiding behind, Assessing, Planning, Analysing Studies, Preparing Applications and 2024 will roll on as did 2023 building no value or growth. 2 drill results completed were fizzers. 3 CR's now to the tune of $1ml each and what company value have they accomplished. We are given no time frames for drilling exploration development just " aiming at some time during 2024". Unless this BOD can't find a venture style partnership (and who would want to with their track record in the last 3 years) NWM are dead. Sincerely hope I'm wrong. If I'm ever lucky enough to recoup my investment I will never return to this end of the market.
NWM Price at posting:
3.2¢ Sentiment: None Disclosure: Held
