Hi
@DD72Good point and one that certainly wasn't lost on me. In fact, it was one of the reasons i decided to invest about three years back (that and the low SOI ((then about 88m)), extremely measured expenditure of funds and
Paint).
The question is, how long will NST wait before making a move, assuming of course that they do? Barring exceptional results from the continuing drilling campaign, i don't think it will be this year. Happy to be wrong but i think they'll let us do more hard work before swallowing us up.
From last year's AR
Crusader Resource Estimate (RE) of 2.17Mt @ 1.22g/t Au for 85,000 ounces contained gold
(see Nexus Minerals ASX release 8 July 2019)
(Mineral resource covering only
600m strike length of the >5km strike of the interpreted mineralised corridor and only down to
100m depth)
Pinnacles Resource Estimate of 551,200t @ 4.6g/t Au for 82,000oz gold
(see Nexus Minerals ASX release 13 October 2016).
So currently, we have a JORC compliant RE of 167K oz.If i split the difference in
@Fredwah in situ value we get:
@$75 oz in situ value = $12,525,000 / 244m SOI = ~ 5cps
Now, a few important points to note;
Previous JORC - small area to limited depth (~100m)
Greater understanding of geology has led to targeted drilling which has confirmed modelling and built momentum
Drilling over larger areas and to much deeper depths
Belief that Crusader and Templar are one and the same (connected) = 1.5km strike?
Deeper diamond drilling
Upcoming DDH's at Branches and Paint and ...
Paint. A discovery hole there like SAR made back in the 90's would be a company maker (See numerous previous posts of mine over the past two years. One here:
https://hotcopper.com.au/posts/48216259/single)
I am eagerly awaiting the next couple of ann's and hope that they continue to please to the upside. After following this story for several years it is great to see all the hard work coming together. I guess the question is now, what's it worth?
All the best
Perdy
