True it's not an 100% positive piece - but shows the potential that NMR has, if and when they have a market for their potential resource. Comforting to know we are not buying and holding when everything in the Botswana Coal industry is a giant over-inflated bubble. True there are risks - but if it does move north.......!
Even when sold off severely in a weak market, CIC Energy is still trading at a premium per tonne to what NMR are trying to prove up. Similar resource it seems, though drilled to measured standard. Significantly smaller resource size it would seem, but without the potential to increase resource dramatically - as we are hoping for with NMR in the coming weeks.
Without cruddy market, struggles to agree on off takes, smooth sailing with licence agreements - have a look where CIC energy share price was earlier this year.
Plenty of room to move here at NMR (considering price per tonne and if proven to be economical to mine)?!
Interesting to note the Indian off-take connections that CIC have been chasing - though stalled at present. NMR have their own connection to the Indian market through their very apparent link to JV partner TRIPROP. Patience.....
Have a read of CIC website if you have time - makes for a read/comparison.
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Just some thoughts.. all factoring in long term goals and further drilling success of course!
DYOR etc etc etc
NMR Price at posting:
3.9¢ Sentiment: LT Buy Disclosure: Held
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