Have read your post over at Timbo's general "what's your trading story" thread, and understand that you may have looked here for next potential "multi-bagger."
That at least gives some hope to those who bought the pull back - or as you say, who bought some of the high.
I too missed the big gains that could have been had, buying in anticipation of the initial JORC - which was all clearly indicated well head of time. Wish I had done the volume of reading on NMR then - not now. Looking back it was oh so quiet on NMR HC threads in the early days. 200 listed on ASX - always gonna miss some if not most.
But hey - its grabbed the attention of many - and its still be a great trade/hold strategy for all (umpteen trades OF 5/8/10% at a time if you have the patience).
But just as NMR did very nicely for the early ones like boofhead, not too long ago, it has pulled back quite hard and the crowd watching now are waiting for the next gains - if they are to be had.
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If I can answer a few from your "question" post....
1) "Next set of drill results may be poor"
Like any other spec. They found the start of coal so far in the southern drilling - so here's hoping. Though they missed coal on a few holes in the first drilling, the odds are that they will find something in the next lot.
2) "delayed"
No mention of it yet by NMR. May well happen. But NMR have every reason to get the drilling done. No major Botswana holidays since drilling commenced, no civil strife, natural disasters??? so here's hoping.
3) "and not increas resource."
Any find within their cut-off range is a find... is an increase. We will take the chance/educated guess. Yes, to be of JORC reportable standard more drilling will be required. SP - well that will do its own thing.
4) "Moratorium due January 12th may not support NMR's intentions"
Then all Botswana coal plays are set for a fall. We still appear cheap relative to those?
5) "this has already been set back."
Well known - and yes another risk. However, it might also be a nice announcement. We will take the risk. Many countries/people/companies will prosper if this thing goes ahead.
6) "Years before any sort of production"
Yes - agreed that NMR is an explorer. The market looks ahead though, and I hope, along with NMR management that someone out there will see the future potential in this - hence scoping study and Chris Mason's sales pitch.
7) "more raising"
No doubt. Of some form, however they have cash to last the next little while it seems. Botswana the obvious focus. A few buyers to soak up the current free-float.... we will see. No one in 20 twenty selling yet. Chris Mason is a money man. Let's see what he can wrangle.
8) "more dilution"
No doubt, hopefully limited though, like any other explorer. See posts on options and shares issued then DYOR.
9) "Botswana safe"
A big positive. Three countries against SA.
10) "but no transport"
They have basic road and proposed rail (see your previous question). NMR is looking at others options other than bulk export to fund the project faster it would seem. Scoping study due.
11) "or infrastructure."
That is a bit of a slap in the face for the people of Botswana. Google Botswana. Their % improvement in income and development, whilst starting off a much lower base, is improving year on year - though recently stalled a little by GFC. They have infrastructure and Gabs is the fastest growing city in the region. Ground floor stuff. This is not investing in USA coal/oil/gas. This might well be China 25 years ago. You got to start somewhere. It has its challenges - but NMR still appears cheap compared to peers.
Debeers made a quid out of the place. But yes - it will take some time.
12) "Much of this stock doesnt hinge on what they have in ground."
?????
13) "In this climate if you're not producing you'd want to be fairly certain that you will be soon to have any sustained upwards momentum."
Then we should all go and short all explorers. Or have a go here if you chose. Can't research them all.
14) "There are literally dozens of stocks on ASX right now trading at ridiculously low prices that are producing and making bucket loads."
This is purely an explorer, and we are waiting for a jump in JORC, a nice new finding of non JORC coal, or the start of other NMR projects if that is the right thing to do.
15) "DJC will do a report shortly after it mentioned it in West Australian, that may bring more attention."
Yep - i think it just happened!
16) "Its got my attention but I asked simple questions and they dont respond."
No comment.
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All the best - like you said over in the general thread - sometimes its better to hold for a while.
If we all new for sure we would all be loaded - not here posting here on HC.
Sorry mods but its true - i would rather be sitting on the beach!
bsh
NMR Price at posting:
3.9¢ Sentiment: LT Buy Disclosure: Held
