Further to my earlier response, I couldn't help looking at a couple of other U stocks, both prospective and further developed namely WME and BMN.
In the case of WME there is a proven JORC resource undergoing a likely upgrade and, excellent future prospects with a market cap today around the $54M. Once the upgrade comes through (highly likely), the market cap could quite conceivably more than double. All in the next quarter perhaps.
With BMN, much further developed with not too disimilar grades to WME (generally speaking), and a market cap of $265M!
These values incidentally are not fully diluted for outstanding options.
Both companies are in the African continent and have good sentiment from the government to develop.
With NMR and the administrative support it enjoys, the tailings drilling results would not need to show too much, for the market cap of $41M to go for a reasonable run and, if better than expected will be a multi bag bonanza. Not only because of the possible grades but, is much easier to localise and access logistically for extraction.
Modern treatment (Heap Leaching for instance), will certainly guarantee excellent return for effort and underpin the whole program with cash to burn.
As I said before, I am most hopeful and excited about the opportunity here.
NMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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