STTCOMP NXM FA LONGNexus MineralsSP- 4.2cSOI- 389millionMarket...

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    STTCOMP NXM FA LONG

    Nexus Minerals
    SP- 4.2c
    SOI- 389million
    Market Cap- $16million
    Cash in bank- $6.3 million(at mid October)

    Nexus minerals has a MRE of 175,000 gold ounces @2.12g/t at their Crusader-Templar prospect. That MRE which is within a larger resource, has a 1g/t cut-off and was focused on mine constrained open pit potential only with further potential to expand from more drilling.


    https://hotcopper.com.au/data/attachments/5869/5869764-cbfee1feb87d05118aff3ab587f9dd74.jpg


    The Crusader-Templar resource is within NXMs Walbrook tenement which has many more shallow gold targets through their 5 mineralised corridors with confirmed gold intercepts from a few already


    https://hotcopper.com.au/data/attachments/5869/5869765-697272e140b2f12771d1482e9daa5294.jpg


    Nexus also has a range of tenements in NSW and VIC focussed on Copper and Lithium.
    Their Bethanga copper project is due to be drill tested in February with a number of historical workings that produced very high grade copper and gold back in the late 1800s- early 1900s. https://hotcopper.com.au/data/attachments/5869/5869783-31b1ffaa379df8693156f1fbaffc6f3f.jpg



    https://hotcopper.com.au/data/attachments/5869/5869792-62180fd7ec8ae17e18b0ec65e07507db.jpg



    All in all I think NXM provides good value at the current price with some exciting projects and enough cash to have a good run for the start of 2024. I’m hoping to see a bit of activity in the next couple of months including commencement of drilling at both the Bethanga copper target and some regional Walbrook gold targets. Mine studies from their Crusader-Templar MRE can’t be too far away with potential to hopefully get a toll treating agreement/JV with Northern Star sometime this year.
    The SP recently saw a good jump from a top20 holder taking a
    larger stake to get them over 5% and the SP moved very quickly. It has since fallen back down but looks primed to run if we see solid progress start up again.
 
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