Ann: Quarterly Activities Report - September 2023, page-5

When you pick a pre-revenue stock, buy the management not the story. Management in NMT's case have absolutely zero experience of bringing a company to an industrialized state, let alone in another country. They have zero experience or local knowledge or expertise in those local geographies they wish to operate, and doing business in Europe and the US is all about relationships built over decades.

Unfortunately, NMT will be cutting staff as an immediate step, releasing a capital raise to institutional holders at a discount (that will fail), then they will release the capital raise to retail holders.

Ever since Chris sold at the peak and bought a house this has been like reading from any history book. You can try to find other scapegoats like market forces, economics blah blah blah, but isn't that why Chris gets paid 650k? Because he is meant to anticipate and build a team around him to bring his plans to fruition taking into account all of these factors. The management team they have currently are useless, including Chris - the only experience they have is selling their minority stake in a mining tenement to Min Res - And you want to dump millions of investment in them developing highly complex recycling and other recovery equipment?

Take the hit, claim the loss on tax and move on - there is zero chance the recycling will come to fruition. They will have a clause with MB that will require NMT to remain solvent - that is becoming more and more doubtful with each day.