In hindsight, I'd have to say my number one issue with NWC management is they never released the full potential of the surrounding ground, it would have unleashed parabolic multiples of the current bid.
In the early days, pre resource, many of us here were discussing 15mt resource of very high grade material that would prove superior economics. The resource was never in doubt or the economics. What came next is the right question, and this is where I believe maximising the potential sale went wrong (I'll minus the excessive silly dilution here).
If you're a geo or conducted a wee bit of midnight research, you'll know Antler isn't a freak but part of a larger system. This system likely contains, a few Antlers, and some likely larger - what happened with that search? You don't need to go far to see the possibilities, I did ask Mike very early on about Copper World, which he dismissed as a small deposit not worth chasing (deal issues, is more my thinking).
VMS deposits typically form in clusters, yet, NWC never fully pursued targets along strike. To me this is such a shame, who knows the true value that could have been unlocked...20,30,50,+70Mt. Such is the way of these VMS systems.
Many more things could be said about this journey, it will be put to rest by CAML, the irony being is that I thought they'd be the prime bidder for Adriatic Metals four years ago, and both are being bought at the same time - how cruel is the frequency of nature.
*My posts can be verified on Hotcopper over the past five years for the above*
Enough said to my journey men.
Peace out!
Seth D
NWC Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
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