Extract taken from another forum which sums up this company...

Extract taken from another forum which sums up this company beatifully

Guys and girls what am I reading here?

If NWR has the highest grades in AUS i'll eat my hat and this proves our gold resources are dwindling.

I'm not trying to down ramp here but the Nullagine area is not known for gold quality.

This is honest-I personally work with an old prossie who with a couple of others spent almost 20 years in area prospecting small leases and providing labour to others,he even ran the general store for a few years.

I enjoy listening to his old war stories about living on the land and he's always got a funny one to tell.

He always talks about the up to 30 oz patches they use to find in the early days(late 70s/early 80s) but reckons the finds got smaller and smaller over the years and the land had seen detectors go over and over to the point where now it's hard to even find 1/2 an ounce of gold within a metre of ground level any where up there.

He reckons the gold quality and type up there is no way near as good as the kal/meeka region.

It comes down to what NWR can find in the depths that the prossies and previous companies that have tried couldn't.

DYOR because gold production is getting alot more expensive due to being more labour intensive compared to other commodities, and higher and higher labour costs for producers make it less and less viable.

Plant setup costs mean that many speculative companies sitting on resources under 500,000 OZ will find it very hard to get producing whilst Gold is trading under $700US.

Look at WTE and there delays in start up due to higher than forecast labour costs and reavaluation has seen sp hammered lately due to delay in start up that this has caused.

Only if gold gets and stays over $700 US will we see a greater influx of smaller companies becoming new producers.

MY tip-if your looking to get into speccy gold stocks look to ones with overseas patches.Lower costs!!!

or if staying in AUS, an all ready producing SBM would be less risk I would think.

I maybe wrong but I struggle seeing NWR going over 40c medium term unless you guys know something I don't.Maybe price of AU will get to $1000US medium term!!!