what is nwe worth?, page-22

Great research G.N.

A couple of points and I will be happily corrected on this :

NWE will need to share it's 2P reserves with a JV partner or issue a bunch of shares to have the finance production at TP15.Thus altering it's apparent astronomically cheap price equation.

Also, the comparisons you make are with both producers and explorers it seems. Surely we need to distinguish these for an 'apples vs. apples' comparison values you wish to draw.

Maybe I'm blind and missed something obvious. My humble apologies are then in order.