Agree.
@swingingpig@Gennaro@stucaz and anyone else who is grabbing the pitch forks.
I feel like it might be a little premature. Bad management certainly needs to be called out, and addressed. That said, I cannot see anything that AT has done that was malicious. He was very positive and excited about the Walbrook tenements - perhaps too enthusiastic. However, he raised cash at circa $0.50 - this was prudent. I was a buyer before that, and was a buyer at the raise. If Crusader-Templar had been there at depth, the stock price would have gone stratopheric and everyone would be cheering AT's name. It didn't - but that's the mining game.
Not only do we still have a very large and prospective gold tenement in WA, we now have one of the biggest exploration tenements in the Eastern States. I like that we're called 'Nexus Minerals' - maybe we're not going to just be a gold company. This is probably going to take longer than sharehodlers first expected / hoped with the potential of Crusader-Templar at depth, but with the tenements we have, and the team / leadership, I think we are (long term?) going to be fine.
@ByCon I've attended select parts of the conference the last two days and will try make it in again today, if I have time - especially because AT should be in.
While AT wasn't there when I went by, Adam (exploration manager) and Lara (Corporate Affairs Manager) were there and great (see more about them here -
https://www.nexus-minerals.com/directors-and-management-profiles/).
The team were great to talk to, really know their stuff and were engaing. The current (short term, while capital restrained) plan makes a lot of sense. What they've done with the MRE also makes sense - this is ready to be mined (subject to final pit studies).
While the MRE has underwhelmed a lot of people, apparently the top holders are relatively steady, or have been accumulating. This is a good sign.
Is NXM going to go to the moon with a wild Karari size deposit tomorrow? No. Does it have great tenemnets in WA and some absurdly large and prospective tenements over East, yes.
I've touched on the Eastern tenements a few times in my posts since they were announced, and I'm doing it again here. Yes, they're prospective with no certainty etc. But AT had an associate call him to discuss potential opportunities (he has good connections), AT and the team investigated (he's sensible and practical, and always looking for more opportunities) NXM have then applied for multiple tenements / licenses across Vic and NSW (inclduing
the largest ever pegging exercise in NSW) (AT doesn't stuff around when push comes to shove - he saw a great opportunity and went for it). These actions have increased NXM's prospective tenements 10 fold for relatively little cost - I feel like this has been severely undervalued by the market. Further, when the market reacted poorly to reuslts, and capital has been restrained, AT has shaped the company and activities accordingly (commercial, practical and realistic).
My only real criticism of him right now is that he can tend to be too enthusiastic / optimistic, which created (reasonably or not) certain expectations in the market, and when these expectations 'weren't met' (accurate or not; reasonable or not) the market reacted severely. I've see far worse.
AT still has my vote, I'm just settling in for a longer haul.
Maybe others should consider hitting pause, and hold off for (at least) the rest of this calendar year, and seeing how things unfold, before thinking about grabbing the pitchforks.
