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

First 35 Last

Share
Profile

Follow
BoroBoyinoz

7,615 Posts.

1292

27/05/24

10:00

Post #: 74020287
Share

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.

Expand

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

Reply

Top Stories

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

MIN

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

There are more pages in this discussion • 28 more messages in this thread...

First 35 Last

Add NAG (ASX) to my watchlist

(20min delay)
Last 1.9¢		Change 0.002(11.8%)		Mkt cap ! $15.13M

Open	High	Low	Value	Volume
1.8¢	1.9¢	1.8¢	$55.68K	2.995M

Buyers (Bids)

No.	Vol.	Price($)
2	555303	1.7¢

Sellers (Offers)

Price($)	Vol.	No.
1.9¢	996991	2

View Market Depth

No.	Vol.	Price($)
2	555303	0.017
1	100000	0.016
4	755000	0.015
3	641428	0.014
6	889229	0.013

Price($)	Vol.	No.
0.019	996991	2
0.020	2909387	7
0.021	372000	3
0.022	136000	1
0.024	494117	1

Last trade - 16.10pm 04/11/2024 (20 minute delay)

NAG (ASX) Chart

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

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

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

Top Stories

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News