NMR may well increase in market value again tomorrow and into next week. The prelim inferred resource is massive with four very large coal seams interstected with the 2nd looking quite tasty. The drilling have been very very widely spaced (in the kms2). This is the genesis with further drilling ahead culminating in a Scoping Study.
$13,622,000 plus volume today and the SP has gone up 97%. It's very promising for a micro at a very early stage. The seam thickness and depth is not astonishing, but who knows what they have in resource and in detail. BHP were certainly hunting around in the 70s. Very difficult to compare atm but the market cap suggests any true blue sky has not been fully added in as yet. This is why she went to 6c on open then fell away to 4.4c then eclipsed the 6c once again. Very hard to value but a few more cents at least is highly possible IMO. A few have definitely got it by the curlies.
I speculate we may note some profit taking tomorrow. Check AVB in September 2010.
Just my thoughts.
NMR Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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