the Minproc plant did use pressure oxidation of the sulphide concentrate during cynadidization
But sulphides are a risk factor for sure. At 7c a share you are only paying $3million for the whole shebang though.
I got onto this stock because I had bought back into MOY when its market cap hit $3million early this year and I noticed NWR next door. I sold out of MOY last week. If the AUS gold price falls below $1000 MOY will find financing tough going. I'm an all out no holds barred gold bug , but that AUS1000 level is critical for the open pits guys who need debt financing. Only the high grade underground mines like at SLR and DOM can really spit out solid cashflow below AUS$1000 gold when you take everything into account
Given there is an excellent chance of NWR finding economic deposits similar to MOY, NWR does seem a no brainer at these prices with $6million in the bank, especially if they dont use the money in the redevelopment but get a J/V partner to stump up all the cash.
NWR Price at posting:
7.1¢ Sentiment: LT Buy Disclosure: Held
