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

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.





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





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.







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.