NMDC to acquire 100% & Delist, page-10

Hi Syd
Last 6 month average of traded shares is all they have to pay mate
Well be lucky to see .003 cps


What is annoying me is that the gold would free carry the Iron ore

The total gold resource at Mt Celia is shown in Table 1.
Table 1 Mineral Resource estimate - Mt Celia Project (as of March 2018)

Deposit Classification Cut-Off (g/t Au) Tonnage (t) Grade (g/t Au) Metal (oz)
Kangaroo Bore Inferred 0.7 2, 800,000 1.48 133,000
Blue Peter Inferred 1.0 607,200 2.62 51,100 Total (Mt Celia) Inferred 3,407,200 1.68 184,100

Gold price AUD currently - $1 900.00 p/oz

Very Basic numbers
184 000.00 oz x $1 000.00 p/oz profit = $184 000 000.00 ($ 900.00 p/oz to process)
184 000.00 oz x $ 800.00 p/oz profit = $147 000 000.00 ($1100.00 p/oz to process)
184 000.00 oz x $ 543.47 p/oz profit = $100 000 000.00 ($1356.52 p/oz to process)

I am happy to be corrected as i have limited knowledge of costs to get it out of the ground and processed, but even at $543.47 p/oz profit the numbers are outstanding

Ben Donovan (company secretary) is very approachable - Number is easily accessed on company website

I contacted him last week to express my concerns/dismay regarding the newspaper article release.
I also quizzed him about - Continuous disclosure requirements

I would urge everyone to
1) Call Company and discuss/express your concerns (not sure what it will achieve)
2) Make a complaint to ASIC via the attached link re the article -https://compliance.asic.gov.au/#/form/583b77dc397bbc319837ea2a/app/5cfe1fccbb21221fbce42d5d

The next Capital raise should get them to 90 % then they can do as they please

Please remember our money has drilled and purchased all the tennamants for LCY/NMDC
We will all walk away with pittence while they walk away with hundreds of millions of dollars due to quality Australian resource's

Sorry for the rant, as stated above i am happy to be corrected please consider making the complaint to ASIC and calling the company


IK