Hi Pro, not the best news to wake up to this morning however I...

Hi Pro, not the best news to wake up to this morning however I see it’s as smart move NMT had little option they couldn’t just plow on regardless, they needed to sell down their stake and perhaps in todays climate couldn’t get the right price, plus they needed to put cash in that they don’t have. It’s a rough market the Barrambie off take deal falling away may have ment income they expected being pushed back with the knock on effect they now can’t fund vanadium from slag plant. The tech is still sound and should be attractive to others, let’s hope so.
Not easy watching this get trashed from past highs and the resulting flak to management from posters, income or rather lack of it has always been the concern so halting spend with todays Ann or selling something needed to be done regardless how painful.
Can’t say it’s a comfortable ride far from it but I see the Ann as good bad news a decision forced upon NMT by recent event and market, it doesn’t mean everything else has gone to rat shit.
I also note we burn some $5m a quarter but $3m was in JV investment if that was a one off increasing our share in critical then will burn reduce to approx $2.5m a quarter? Perhaps a question to be asked at AGM.
Like you I’m hurting on value drop but hanging in to see how it plays, Loop.