STTCOMP NAE, FA Long
Market Cap - $9.4m
Cash - $2m + around $1.3m payment from SML received after quarterly
SOI - 429,323,997
SP - 2.2c
New Age Exploration Limited (NAE) is an Australian-based exploration company with interest in coking and thermal coal projects in the United Kingdom and Colombia. Its flagship project is the Lochinvar Coking Coal Project.
NAE have three projects:
- Tin (UK)
- Gold (NZ)
- Coaking Coal (UK)
With the rise in cc prices last year they decided to do a scoping study for their resource. The results of this study were due the end of February, so are expected any day. The price of coal is still high in comparison to early 2016, and with China looking at potentially cutting production to 276 days, and putting bans on North Korean imports, the price could rise again. If this happens, and the coaking coal study shows a project with a positive return, then the SP could re rate. There are results that are expected for gold at the end of the month, and drilling for tin commences soon. If any of these projects can yield positive results, then the SP will move in accordance.
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