re: Ann: Nexus 2012 Annual General Meeting Pr... Pretty simple...

re: Ann: Nexus 2012 Annual General Meeting Pr... Pretty simple here really, my thoughts are:-

NXS will hold the 2% put option up their sleeve for as long as possible.

Management will sell down 5% additional in CRUX and will do this ASAP, this will fund share in development in CRUX and also Longtom, possibly used to further reduce debt. This 5% will attract a value of $100 - $190mil.

The 2% option will only be sold when required and is a ace up NXS sleeve.

Echuca Shoals will be sold down or farmed out, so as to expose NXS to upside without full cost of exploration/development, buyer here may be linked to CRUX buyer. Lets be realistic we tried to stand alone with CRUX, this destroyed share holder value, we cannot make the same mistake with ES.

I dont know what will move this SP, but I would hope that we have a managed fund/s looking to take a stake (Liquidity) in the company once the CRUX/Debt issues are resolved. I see the maturing debt as a non-issue (Put option will clear this if required).
I see the current value of CRUX is determined by development timeline and of course costs to explore/develop, we dont have cash and we are looking to inprove the balance sheet, so my conclusion is NXS has no option but to sell a part stake in the asset (5% +/-) for the fundamentals of the future business.

Hopefully all transpires in the near term as shareholders want action now and no more fluffy nonsense.

GL to all