You are making MIN's case for them.LK1 - NWE MC $51millionLK2 -...

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30/03/23

14:42

Post #: 67045646
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Originally posted by greenleaf: ↑

Alexei ii if you do address your issues with EM, please add in the undermentioned reply by NWE to Brady (hot copper) regarding drilling updates:

NWE's reasoning regarding Nil Drilling Activity Reports is because of the reduced market capitalization of NWE today compared to NWE at the drilling of LK1 - is incorrect and total BS.

Market capitalisation is worked out by the number of share on issue x share price.

Our market capitalisation at beginning of July 2021 (spud of Lk1) was 5.073bln shares @ .01cent = $50,730,000.00
Our market capitalisation at beginning of drilling LK2 (Feb 23) was 6.900bln shares @ .069 cents $476,100,000.00

As our present market capitalixation exceeds LK1 drilling activity date by 9 times their answer offered to Brady for the Board's inactivity in drilling reports is a complete nonsense.

What is going on - another misrepresentation to shareholders. Its not all about minres - this is all about Norwest Energy - minres you are a shareholder in our Company and form part of NWE market capitalisation.

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You are making MIN's case for them.
LK1 - NWE MC $51million
LK2 - NWE MC $476million
ie MC was only around 10% of what it is now,
They are arguing because of this is is less market sensitive to NWE.

I don't agree with MIN, but you can see their reasoning without agreeing with it.

NWE Price at posting: 5.9¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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