I have been watching NMG for a little while now without holding stock... I must say NMG is looking very cheap now being on the verge to production... NMG has not participated in the gold rally so far and I believe this is due to investors perception of management and the delays so far, also the capital raising...
Putting all the concerns at the back of the mind, they will be in production in a month or so time, surely management cannot get it so wrong with only 1 month of foresight left... If and when production commences soon, surely a huge re-rating will occur since the PE ratio will only be 3 or 4 by then...
As I have said, I haven't been following this stock for long, so maybe holders that have been investing for a while now can perhaps shed some light on why this stock wouldn't re-rate significantly in the next few months... The price right now seems the perfect entry point with limited downside risk IMHO
NMG Price at posting:
49.5¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)