I've been following with interest the progress of NMR, along with some other Qld explorers such as SHN, BMR, ILT, MMA, and having spent some time in Charters Towers I'm particularly interested in companies in that area. NMR has the advantage of having a processing plant, although I'm not sure what condition the mill is in, but even if it still requires further expenditure, it gives them a head start over explorers without a mill.
Much as I'm tempted to invest in NMR, its Market Cap of $188M appears to be out of whack compared with some other companies which are already in production, such as KSN (MC$109M), KAU ($112M), HRZ ($133M), and ADG ($10M) (ADG also has an old plant coming back into service and about to start production, and they have some interesting tenements in the Vic goldfields).
Obviously there are people who can see value in NMR at its current MC, and if anyone on here is willing to spell out what makes NMR worth so much more than the other companies with much lower MCs, I would greatly appreciate it.
Cheers, Mike
NMR Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held
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