Seriously forget the rubies, the rubies were a nightmare and precious stones have always been a very specialised field. They were bleeding money on this project and i for one think getting out of rubies and turning that into cash and covering their debts was a great move.
Realistically the reality of making any money out of those Fura shares would be slim to none. An amazing amount of things has to go right for NXE to see any value out of those shares and then you still need to get the liquidity to get out. As it stands they have turned that deal into cash and are able to pay all the liabilities and walk away with a bit of a profit.....which in my view is a great result.
The vanadium and graphite assets they have are world class and they have a very advanced classification with Measured resources which will turn into Reserves early next year. The prospects they have now once they get rid of these final legacy issues will be fantastic....and the company is valued at circa $5.7 million market cap.
Shareholders should be looking forwards not back.
