it does appear that management are happy to see the share price...

it does appear that management are happy to see the share price lose 50% of the companies most recent capital raise.
That is my main concern..
As little as $200k would put an end to what appears to be a co ordinated share price suppression.

There is just more than 200 million shares on offer and NXM is too small to sell short legally so all this stock needs is a few buyers with a game stop mentality to put a stop to what's going on. Have a
look at the top 20 holders. One or two of them must be working together. Maybe worth contacting the company and requesting to view the share register and match up current holdings with the last annual report.
Any shareholder has that right to request access under the Corporations Act if they are a fit and proper person acting in good faith.
I am sure if 10 shareholders contacted the company requesting to view the share register the directors would start making some regular announcements.