email highlights

Recently received an Email from Peter and I thought I would share some highlights.

"My focus is on beginning the infill drilling indicated to arrive at a point where we can begin a new resource update – that will be shareholder’s money better spent in my view."

"There are NO obstacles preventing an offtake agreement being signed. I have done a lot of work on the marketing of the product and that has been published in the Concept Study announced to the ASX on April 4 2013. Normally, offtake agreeemnts are not signed this early in a project’s development…we don’t want to spend money on reviewing offtake agreements when we have not completed a feasibility study. So the feasibility study would take precedent. But I reiterate, the product guidance we have given to the commodity brokers is marketable and one consistent comment that I have heard is the low-silica that we have in our T1 mineralisation (~2.0% SiO2). This is very low in global terms."

And one small negative, just for balance; "Our cash position at the end of the quarter was $0.688M. We are an extremely low-spend explorer but we will need to look at financing options in the coming months."

"The biggest challenge facing MDs of exploration and mining juniors is the global market which we can’t control. But what we can do is try and position the company in the best situation to withstand market conditions. With a strong project in Telimele, I hope to update share holders on progress made but until we have significant and price sensitive news, it is inappropriate for me to issue any releases."

Though we seem to be dwindling a bit at the moment, this email certainly gave me a good feeling about Nemex in the longer term.