I know what you mean re small co's popping up with some great results, share price rises strongly but then falls back to earth. Whilst a short term pullback in NXM's price would not surprise me, longer term I expect that NXM's price will rise further. IMO NXM's rise is sustainable because:
- they have reported numerous batches of excellent results (not just 1)
- these results come from 2 different areas now (Crusader and Templar) and it looks like the mineralisation between the 2 areas may join up. They also have other promising results in the area eg Paint as well as other promising projects
- the gold is high grade with significant gram metres Au
- most importantly, NXM are not a newbie co run mainly by spruikers and financiers chasing the metal of the month. Rather, the MD is a mining professional with a track record of success in looking for and finding minerals. As he has said numerous times in the videos, the geological team has been working on these prospects for years - they haven't just struck it lucky, it has been a methodical process which is now bearing fruit.
IMO, NXM is one of the best small cap gold exposures on a risk/reward basis currently listed on the ASX.
GLTA & DYOR
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Mkt cap ! $14.78M |
Open | High | Low | Value | Volume |
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1 | 279752 | 3.8¢ |
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Price($) | Vol. | No. |
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3.9¢ | 193619 | 1 |
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No. | Vol. | Price($) |
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2 | 1054350 | 0.037 |
2 | 325000 | 0.036 |
2 | 175000 | 0.035 |
1 | 500000 | 0.034 |
Price($) | Vol. | No. |
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0.039 | 193619 | 1 |
0.040 | 459999 | 2 |
0.041 | 25000 | 1 |
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