Ugly Ducking

During the week NTM made a number of significant announcements that for the moment continue to fly under the radar of investors.

Whilst drilling is continuing.. results from previous holes expanding known deposits/targets are coming up trumps.

At Nambi: E2 lode ( newly discovered shoot ) - 4m @ 21 g/t inc 1m @ 67 g/t

Main lode - 4m @ 10 g/t inc 2m @ 16 g/t
5m @ 5.3 g/t inc 1m @ 18.9 g/t

At Golden Terrace South: 14m @ 4.5 g/t inc 4m @ 6.4 g/t

this follows results: 66m @ 3.7 g/t
44m @ 6.4 g/t
12m @ 16.6 g/t

At Golden Terrace North, previous results included 12m @ 4.29 g/t and 3m @ 18.8 g/t

At Kelly, previous results included 15m @ 8 g/t and 9m @ 6.35 g/t


NTM also intend to acquire two permits which show geological similarities to the high-grade GTS deposit. Interestingly numerous nuggets totalling some 50 - 60 oz have been discovered at various locations on the permits, including a 5 oz specimen.

ASL has recently become a 5% shareholder by virtue of accepting shares for drilling, allowing NTM to preserve its cash.
At the end of the last 1/4 they had $1.38m cash after a small CR raising by Argonaut - who are well known to supporting companies with which they do business.

With drilling having recommenced over 2 weeks ago - 3rd campaign - NTM continues to expand known resources and test regional targets along the Mertondale Shear. Historically it has produced over 1.4m oz in total -- an area where NTM have over 30km of strike.

The parallel Great Western fault and Mertondale fault has shown to be well mineralized - deposits being discovered and expanded at either end of granted tenements, and similar to KIN only drilled to shallow depths allowing plenty of potential to be tested.

Remembering that the likes of SBM's Gwalia deposit, which has yielded over 9m oz to a depth of 1200m and still going are in the neighbourhood.. the question is what can NTM find at depth when drilled.

With a current MC of $14.7m - plenty of scope for a re-rate