Outrigger,It was nice to get some news on the tailings in what...

Outrigger,

It was nice to get some news on the tailings in what was a Pretty flat market today. So flat in fact, NMR had 0 volume despite the announcement, (I guess it could have gone down!!)

My take on the announcement is that things seem relatively positive, however, im no geologist and I found the announcement hard to decipher in terms of how commercial the drillings may be.
Obviously, they used a cut-off grading of 100ppm when drilling, but it doesnt really tell us much if we dont know how expensive the leaching etc will be.

Would be nice if management can shortly start to define what the capital costs and likely revenues flows from the tailings are (and if indeed they are commercial)

Once shareholders can rest a bit easier knowing the tailings may be able to fund exploration for the other areas under licence , it may de-risk this stock somewhat and potentially increase the share price.

So, IMO, we still must rest in wait until we hear if the tailings can be leached and if the tailings are commercial following the mineralogical and metallurgical testwork.

Judging by the information in the announcement, we may next hear about some of this in August when the mineralogical and metallurgical testwork performed by Professor John Watling is completed (end of July).

Regardless, its nice to have management release two announcements within the space of a week.
It lets you know the stock is still alive and they are actually working on the stock!.