currently their cash position acts only as "downside share price...

currently their cash position acts only as "downside share price protection" and makes this company so interesting ....

What really matters are their projects, the corresponding "stories" and opportunities ...
As soon as there´s a decision with Sepeda project OR (!) the move to another promising project - this time with better contract (lesson learned ...) - MC will mulitply.

Even a termination of Sepeda project will boost share price as NLI can move forward to next project ... IMO NLI has already prepared a "plan B" but have to wait for outcome of LUSO negotiation first.

btw. have a look at AVZ Minerals ... currently the have appr. 17M cash ... they was worth >500M at the high ...