NXM the next multi bagger, page-848

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20/11/20

22:49

Post #: 49033002
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Originally posted by goldfinger$$: ↑

Summary of current status of Nexus Minerals, highlighting the overall healthy position we find ourselves in and the exciting future we have ahead of us in 2021.

Pinnacles
Current Resources - Open Pit: 159kt @ 2.4g/t Au for 12koz Au; Underground: 450kt @ 4.6g/t Au for 66koz.
Mineralisation looks too thin for feasibility of deeper mining. This project will be shelved in my opinion if successful drill results are returned from Crusader, Branches, or Golden Dyke.

Crusader
Current Resource - 2.17Mt @ 1.22 g/t Au for 85koz.
Minimal drilling below 100m until recently completed drill program.
1,978m RC drill program (11 holes) pending assays to add resources at depth in fresh rock below 100m.
Mineralisation strike now exceeds 400m and remains open along strike and potentially at depth pending results from recent drill program.
In my opinion this prospect offers best return on investment for Nexus to rush through to production.

Branches
Best historical high grade drill result - 15m @ 4.50g/t Au from 29m.
2,739m RC drill program (35 holes) pending assays.

Golden Dyke
Best historical high grade RC drill result - 3m @ 19.36g/t Au from 59m.
1,325m RC drill program (13 holes) pending assays.

Templar
Mineralisation strike of 700m with recent 3,854m RC drill program (40 holes) delivering results up to 12m @ 5.04g/t Au from 39m including 1m @ 57.10g/t Au.
Open along strike with northern most hole drilled to date intercepting 37m @ 1.03g/t Au from 60m.
Templar together with Crusader offers Nexus the opportunity to fast track production from the Wallbrook Project. These prospects are within 4km of one another meaning that any capital invested in roads could service both operations.

The Saracen Factor
Saracen plan to increase Carosue Dam processing plant capacity from 2.4Mt pa to 3.2 Mt pa by the start of FY21 for processing of both open pit and underground sourced tonnes.
There will be benefits to Saracen by processing oxide tonnes from Nexus because these toll treated tonnes will enable Saracen to obtain a balanced blend through the processing plant and minimise wear and tear in the plant caused by processing 100% underground sourced material.
This is a win win for both parties and let’s hope the relationship helps establish Nexus as one of the real emerging companies of the decade ahead as Saracen were a decade ago.

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great post goldfinger.
Can I just clarify, when you say you think Pinnacles will be scrapped...
do you mean the whole project will be scrapped or just the deeper mineralisation underneath the JORC resource??
Seems a shame to scrap the initial mining phase for 18months of cash flow given the Saracen JV makes it a lot more viable. But if it's not worth it then it makes sense.
Thanks in advance
NXM Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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