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15:12
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Originally posted by newguy56:
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The WA1 hype did bring to the attention of NWM. Had the 16 holes found traces of REE then we would be all winners and multi bagger. I bought on this this. But the back up based on MC was bali copper/gold and the REE clay. Just on bali the MC should be a lot higher than the $8m at moment. While they have found RE in the clays, not a very loved resource at moment, i cant understand why given china gets it from clay and the Alacara resource in chile is also clay based. The PPM may be perceived as low but this is from 4 holes. So drilling of this and bali gives potential. Had the SP been 5-7c it would a no brainer to be part of the entitlement. But at under 4c becomes a little more difficult. Say you own 500k, do you put in the $5000. My view is yes on the basis if you dont your total value may disappear as the company won't have money to proceed. Hence why the majority shareholders will. But you will say use the $5000 to buy shares at below 4c. Say a few do same you will see the price rise above 4c. We have bali and an REE resource to be proved for MC of $8m.
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All reasonable ng. But the 1 for 2 options have a value. I judge it as >1.5 c each. Let’s say 1.6c or an extra 0.8c per share in the capital raise. I am not the only one thinking this and it puts the current price at fair value relative to CR of 4c
