Ann: Outcome of Challenge to Nex Metals AGM and EGM, page-8

I'm really not sure what to make of this comment madau, if only it was that simple or truly reflected. I guess when you use the word worth it demands some explanation of how you determine worth?

Also take into account the premature nature of this comment given the AGM results & imminent issue of rights that are significant (22% increase to SOI) and well and truly unrecognized by the market. (Not including any further rights issue dilution pending).

To get to the guts of this comment we need to address how NME have actually fared well with capital preservation, for instance they wouldn't be faced with a $5m liability problem about to become an imminent rights issue if this was the case.
This clearly isn't factored into the current position of the company which has an MC of over $10m at this time. Yes SOI is 295,934,243 with the SP supported at 3.7c makes the MC $10,949,566.99
At present NEX's 295,934,243 SOI is soon to become 364,246,260 with the 22% increase from the rights issue in lieu of payment alone.
At the current SP of 3.7c this represents an MC of $13,477,111.62. Thats a greater MC than MCT & MCT owns 51% of the tenement & 91m securities or 25% of NME. Sooner or later the market always works it out.

Despite all of the above NME still has next to zero working capital and needs to raise funds or we start all over again with the MD's interest free finance. Probably well & truly doing this already I dare say, so the directors are not being paid still. Is this considered capital preservation? on paper it may seem so but in reality, it's more liabilities shrouding the company that can't pay its debts.

I could literally bang on about NME all day, but I won't. I just can't do it to myself tbh.

The figures may look better for NME holders if you don't look hard, but if you don't know better you really should. Cherry picking figures & making a statement doesn't cut the mustard here imo. Interesting topic!