As others have pointed out, CNB is a good peer to compare/value NXM with.
- Both are potential near term producers (NXM Resource ~78k at pinnacles vs. CNB 10.2k ounces) with both reserves likely being upgraded soon.
- Both have roughly 10 mil cash with CNB another 5ish mil to come from sale of Tick Hill tailings.
- CNB have a positive PFS for Tick Hill and NXM likely will this quarter.
- CNB have another promising prospect in Strelley but it is nowhere near as advanced as Templar/Crusader and Branches now aswell.
I've probably missed a bit of info on CNB but I think that's most of the important stuff to compare.
CNB's market cap has been ranging around 40-60mil, so fair value for NXM would definitely a market cap of 50-60mil IMO, so 20-24 cents approx.(very conservative pre PFS). Not dissing on CNB or anything, it's a great stock I just believe NXM should be valued slightly higher at the moment.
Would love to hear others thoughts, especially that hold both.
Add to My Watchlist
What is My Watchlist?
