Needs MT and JE to leave the premises for potential suitors to...

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BoroBoyinoz

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27/05/24

10:00

Post #: 74020287
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Originally posted by muzzab ↑

NAG gets a good mention by Warwick Grigor in his recent newsletter. Link provided.
http://www.fareastcapital.com.au/imagesDB/newsletter/WeeklyComm25May2024.pdf

Thank goodness at least one of NAG's Directors is prepared to step up and publicly share a follow-up analysis after last week's maiden resource definition.

As one of my NAG friends said on the weekend... Ï learnt more in that little article than in the last 8 years".

Warwick Grigor is a serious analyst who has credibility in the market, and when he talks about mining, people listen. He is not known for exagerration, and is generally conservative in his views.

I found three takeaways in his article:

1. Potential.
"....there is good potential for 0.5-1.0 Moz AuEq and a long mine life of 10 years or more".

Doing some back-of-the-envelope numbers using the current spot gold price of around A$3,525 and an AISC estimate like that of the nearby and similar Costerfield gold/antimony mine of US$1,170, that would give a mined resource value (revenue) of A$900M-A$1.8Bn - serious value for a little $8 million MC explorer.

2. Reasonable Certainty.
"If you are underwhelmed by the size of the resource, you shouldn’t be. The main point is that we have something that is cogent and can have a grade attached to it. That takes the project from being a speculative exploration story to something that is tangible.

It is normal for maiden resources to disappoint investors as a dose of reality tends to deflate speculative hype, but in Nagambie’s case the resource is within striking distance of earlier expectations."

3. Looking Forward.
"The next step should be to go underground with a decline or shaft to drill from drives that will also be used to get to know the underground mining conditions."

"The immediate challenge for the Company is the securing of additional funding to take the next steps."

I (and others) have heard whispers that there may be potential suitors lurking, and that we may be looking at a very different company before too long.

With a potential mined value in the billions how much longer will NAG have a market cap of under $8 million, and with over 3 million shares wanted at the current share price I'm expecting to see some decent trading on the ASX this week.

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Needs MT and JE to leave the premises for potential suitors to stop being potential, IMHO

NAG Price at posting: 1.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

3 Great analysis

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Last 2.0¢		Change 0.001(5.26%)		Mkt cap ! $15.93M

Open	High	Low	Value	Volume
2.2¢	2.2¢	2.0¢	$16.00K	795.5K

Buyers (Bids)

No.	Vol.	Price($)
3	73939	2.0¢

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Price($)	Vol.	No.
2.2¢	60000	1

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No.	Vol.	Price($)
3	73939	0.020
2	176315	0.019
2	427777	0.018
2	600000	0.017
2	400000	0.016

Price($)	Vol.	No.
0.022	60000	1
0.023	26086	1
0.024	200000	1
0.025	520000	3
0.026	526000	2

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Needs MT and JE to leave the premises for potential suitors to...

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Needs MT and JE to leave the premises for potential suitors to...

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