Probably not a DT atm but could turn out to be very soon..
So we have for NIU over the past month, and a quick outline for others
NIU
- SOI - 2.5b with 160m options @ .007 expiring January 31 next year (is the pump on to get these in the money??)
- Market cap - $2.5m
- Gold producer + Silver producer + explorer
- Both directors (Lake + Plimer) own over 500m shares / 20% of the register between them
- Directors purposely running this company on the smell of an oily rag - cash burn minimal, salary sacrifice for shares which shows the upside that both of our directors have in the ground we sit on + our operations
- Record Processing levels @ Edie Creek that has seen more material processed in THREE weeks then in the entire past financial year
- Average grade for that period is .9g/t
- Breakeven grade is roughly 1.5g-2g/t
- A half tonne sample was taken 15m below the current dirt we are processing, which returned a grade of 8g/t which is 3-4x more than what the breakeven level is
- This 8g/t dirt is only 2-3 weeks away from being exposed and processed, meaning we are extremely close to being a cashflow positive gold + silver producer with a measly market cap of only $2.5m
- Illegal artisanal miners on the ground aren’t there to check out the scenery and they wouldn’t be there if the ground wasn’t highly prospective, 20g/t average they are getting from near surface
- This is the cheapest gold/silver producer on the ASX and with good reason as it has had a significant downtrend in both operations overall and production, however the company has started to slowly turn the corner and the future is looking a lot, lot brighter than what it did even a month ago
Key takeaways from this announcement I have uploaded below - check out some of those new / historical gold grades!!
