NXM came onto my radar over the last week while doing some research into TMX. I feel NXM is well positioned to multi bag over the next 12 months and here is why.
With a 156,000oz resource 90,000 of which is open pit literally a few kms from SARs 2.4Mtpa plant
Not only will NXM be pouring gold over the next 12months with gold at all time highs (across all currencies) and potentially netting profits many bags higher than our current MCAP of roughly $11m. They are also drilling their
Wallbrook Project which is in the vicinity of multi million ounce resource and adjacent to SAR along a known gold corridor. This allows for some major explorational upside and extension to their JORC resource
Some of the historical grades in this area are amazing
3m at 19.36g/t AU from 56m and
15m at 4.5g/t AU from 29mAlong with the amazing potential, NXM is cashed up with roughly $6m is liquid assets. This gives NXM a
tiny EV well below $10m So no need for a raise anytime soon.... if at all if they secure funding for Pinnacles mining operation through the forward sales of gold. Once the gold at pinnacles is flowing then NXM will be well in the money.
I also came across an interview with Andy Tudor who sums everything up perfectly.
Happy to be a shareholder in the this little minnow and looking forward to puring gold going forward!
....now lets get that drill bit spinning!
