If you believe that we have 300-400k oz, and we know that M&A values for comparable WA deposits is approx $600/oz, then we are talking a MC of $180-240m + cash. Not sure where you get $50-60m MC. That’s essentially a sub-$200/Oz MC, which is ridiculously low in a ~A$2600 gold price environment. I have stated before that I think NXM could be a $200m MC company in the next 18 months or so. Pure speculation though.
But agree completely about Paint. They seem very excited about it, and so am I.
NXM Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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