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Nwm Mining Corporati (NWM)
0.08 ? -0.005 (-5.88%)
Volume: 156,262 @ 1:41:08 PM ET
Bid Ask Day's Range
0.08 0.085 0.08 - 0.085
TSX:NWM Detailed Quote Wiki
Nwm Mining Corporati (NWM)
0.085 ? 0.0 (0.00%)
Volume: 43,950 @ 2:00:57 PM ET
Bid Ask Day's Range
0.08 0.085 0.085 - 0.085
TSX:NWM Detailed Quote Wiki
Why is there both an NWM board and an NWMMF board?
The other board is http://investorshub.advfn.com/boards/board.aspx?board_id=18865
For that matter, what is the difference between the two stocks?
Go $ NWM / $NWMMF
Nwm Mining Corporati (NWM)
0.075 ? -0.005 (-6.25%)
Volume: 518,820 @ 11:30:50 AM ET
Bid Ask Day's Range
0.07 0.075 0.075 - 0.08
TSX:NWM Detailed Quote Wiki
Gold continues up today, $20 up from yesterday,trend is excellent for legitimate gold mining stocks NWMMF is on my list
for accumulation. The dips present the vihicle to do accumulation
but will rise faster than a speeding bullet as production increases in 2012.
NYBob--I was impressed when I saw how many companies that you monitor. Not sure how you manage doing so many. Any way I found two that caught my interest that you monitor. This being one so
I jumped aboard on friday on the otc. I have no drama and look forward to see how this one progresses. Thank you for all the efforts and time you spend on these boards. It really helps people like me that have little knowledge but brave enough
to test the waters.
Venezuela Gets First Shipment Of Physical Gold Today
Back in August, the news that Venezuela ruler Hugo Chavez had decided to repatirate his gold from London vaults made headlines and was one of the key catalysts sending gold to its all time highs north of $1900/oz. Since then the story died down with no updates.
Until today: Bloomberg has reported that Venezuela will receive the first shipment of gold reserves being repatriated from U.S., Canadian and European banks today.
"Chavez, speaking on state television, said that the bars will be escorted to vaults in Venezuela s central bank by the military after arriving by air to the South American country. The gold that was over there in England will soon be arriving, said Chavez. The opposition says that I'll put the gold in the presidential palace or give it away to Cuba or something. This gold is going back to where it should have never left -- to the Central Bank of Venezuela.
Chavez, a former paratrooper and self-professed socialist, in August ordered the central bank to repatriate $11 billion of gold as a safeguard against volatility in financial markets." Will Chavez demonstrate phenomenal foresight having collected his gold just months ahead of Europe falling into the abyss of a toxic debt spiral or were his worries unfounded? It remains to be seen. However, he will probably sleep sounder knowing that his gold is no longer in the vaults of the LBMA, HSBC, or several hundred feet under the New York Fed. That is, of course, if the "presidential palace or Cuba or something" ends up having real 999 gold, and not just several blocks of Tungsten with a pretty plating on top.
http://www.zerohedge.com/news/venezuela-gets-first-shipment-physical-gold-today
Happy Thanksgiving to all -
orville thanks, well it looking good -
prefer to see some earnings -
negative earning + debt + new developments -
carry some risk to be checked out -
EPS: - 0.06 ?
http://tmx.quotemedia.com/quote.php?qm_symbol=nwm
please, let us know what you find out -
TIA
http://investorshub.advfn.com/boards/board.aspx?board_id=18916
would not mind to see it go back to a higher price again -
a lot of current selling volume ? -
God Bless
Nwm Mining Corporati (NWM)
0.08 ? -0.015 (-15.79%)
Volume: 9,382,058 @ 3:59:52 PM ET
Bid Ask Day's Range
0.075 0.08 0.075 - 0.095
TSX:NWM Detailed Quote Wiki
A solid update...good prospects for 2012
http://www.smallcappower.com/microsite/NWM_Mining_Corp.html
Nwm Mining Corporati (NWM)
0.095 ? -0.005 (-5.00%)
Volume: 1,194,356 @ 3:59:34 PM ET
Bid Ask Day's Range
0.095 0.1 0.095 - 0.1
TSX:NWM Detailed Quote Wiki
Nwm Mining Corporati (NWM)
0.115 ? -0.005 (-4.17%)
Volume: 219,510 @ 12:36:13 PM ET
Bid Ask Day's Range
0.11 0.115 0.11 - 0.115
TSX:NWM Detailed Quote
Nwm Mining Corporati (NWM)
0.15 ? 0.01 (7.14%)
Volume: 213,430 @ 3:59:01 PM ET
Bid Ask Day's Range
0.14 0.15 0.14 - 0.15
TSX:NWM Detailed Quote
NWM Q2 2011 Results and Lluvia-Jojoba Project Update
TORONTO, ON - NWM Mining Corporation (the “Company” TSX-V: NWM) is pleased to report its unaudited financial results for the second quarter ended June 30, 2011. The summary of the selected financial information should be read in conjunction with the unaudited financial statements and the related management's discussion and analysis dated August 29, 2011 together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and the Company's website (http://www.nwmcorp.ca). All figures are in Canadian dollars unless otherwise noted.
Highlights for the quarter ended June 30, 2011:
Gold production began in May, 2011 and 1,064 ounces of gold were produced for the quarter ended June 30, 2011.
Net Loss for the quarter was $1,434,201 or $0.004 per share as compared to $1,219,227 or $0.01 per share in the same quarter of 2010. Since the company has not declared commercial production at the Lluvia-Jojoba project, pre-production revenue has been applied against capitalized pre-production expenditures. The Company reported no operating revenue for the three months ended June 30, 2010.
460,480 tonnes of ore was stacked on the leach pads, containing approximately 8,400 ounces of gold.
Exploration activities to expand the identified ore zones at Lluvia continued through the quarter, mainly consisting of air-track drilling to outline targets of interest and follow-up by diamond drilling.
Lluvia Site Activity:
Two new pad extensions at Lluvia, totalling 30,000 square meters were completed and were loaded with ore and placed under leach in the quarter. During the second quarter, construction work began on the Lluvia Dos leach pad facility. Starting the last week in August, this new leach pad was commissioned and started to receive ore.
Current Results and Outlook:
Based on progress to date, and realization of assumptions and targets outlined in this MD&A and in the Company’s press releases of April 27 and 28 and May 31, 2011 and the NI 43-101 technical report of July, 2010, the following points summarize an outlook of expected developments.
Recent NWM gold production has been stronger than anticipated with gold production in May, June July and August meeting or exceeding budgeted targets.
Gold production for the first 28 days of August was 1,440 ounces of gold with the anticipation that continued production will approximate budget by the end of the month.
Approximately 1,065 ounces of gold was produced by the end of June, 2011 and an additional 10,000 ounces is expected to be produced by the end of 2011.
Approximately 5 million tonnes containing over 100,000 ounces of gold will be stacked and under leach by the end of 2012, with approximately 50,000 ounces recovered.
Expansion of the gold extraction circuits will proceed during the year as volume increases. The second train of carbon columns, increasing capacity to 1600 GPM (363 cubic meters per hour), was brought on line during the first part of August 2012.
Reserves at the Jojoba deposit will continue to be developed and will begin to contribute to production by the end of the first Quarter of 2012.
Copper content at the Lluvia deposit is manageable and gold recovery is as anticipated.
ASPN technology is being advanced to handle the Jojoba deposit’s higher copper levels.
The mine site and all administrative support facilities are now fully staffed and operational.
Summary
During Q2 2011 NWM commenced gold production, a milestone for the company. NWM continued to advance the Lluvia site by extending the size of the leach pads. The Company continued to adjust its cost structure, both on the operational and administrative side. The Company also continued to advance the exploration program at Lluvia and Jojoba. NWM continues to focus on ramping up gold production while improving the efficiency of its new gold production processes.
NWM Mining is an emerging gold mining company with two gold ore bodies containing NI 43-101 compliant gold reserves and resources. The Company is focused on demonstrating profitable operations at the Lluvia de Oro mine and growing its reserves through exploration and development.
For more information please see NWM’s website at www.nwmcorp.ca
Contact: Chris Berlet, President & CEO or Chris Chadder, CFO
Phone: 416-364-6799 Fax: 416-364-2595
info@nwmcorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release
Very nice indeed~
NWM Provides Lluvia-Jojoba Mine Update For July
TORONTO, ON - NWM Mining Corporation (the “Company” TSX-V: NWM) announces that it has produced 303 oz. Au in May, 589 oz. Au in June and 1,150 oz. Au in July of this year (2011) from the Lluvia de Oro gold mine. Production in each of the first three months of operation has exceeded budgeted expectations. Production expectations for the balance of 2011 range from 9,000-13,500 oz. Au and for next year (2012) range from 35,000 to 42,000 oz. Au.
The commissioning of Lluvia de Oro gold mine is progressing as planned with all costs equal to or less than budget while actual gold production is outperforming budgeted expectations in the early months of this new mine. The mining rate for July was increased above the budgeted rate, as few problems or complications have been encountered during commissioning. This will result in the mine reaching its normal operating production rate sooner as more ore than anticipated is now available for processing. The effect of this mining rate increase will start to be realized in the third quarter of 2011 as actual gold production should continue to outperform the production budget, as has been the case from May to July 2011. Further guidance on costs, will be forthcoming in the early fall of 2011.
“All gold remains un-hedged and as production ramps up at the mine we are poised to take advantage of the current robust gold prices”, said Chris Chadder, CFO of NWM.
The Company also granted a total of 3,000,000 incentive stock options, subject to regulatory approval, to the newly appointed COO Mr. John Van De Beuken and CFO, Mr. Christopher Chadder. The options are exercisable at a price of $0.12 per share for a three-year period.
NWM Mining is an emerging gold mining company with two gold ore bodies containing NI 43-101 compliant gold reserves and resources. The Company is focused on demonstrating profitable operations at the Lluvia de Oro mine and growing its reserves through exploration and development, primarily in Sonora, Mexico.
For further information, please contact NWM Mining Corporation at (416) 364-6799.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
That's what you needed, a reply to a (2) month old post with zero thought to what you were saying and spam for dessert!
Nwm Mining Corporati (NWM)
0.11 ? -0.005 (-4.35%)
Volume: 93,500 @ 3:59:52 PM ET
Bid Ask Day's Range
0.11 0.115 0.11 - 0.11
TSX:NWM Detailed Quote
OT.
dd....
BQI
and
CALVF
bottom picks....
e.g.,
CALVF Gold Targets: $6,000 – $7,000 – $10,000:
http://goldswitzerland.com/index.php/gold-entering-a-virtuous-circle-egonvongreyerz/
GOLD Target fiat$25,000.--/oz in my books
CALVF short snippet -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65655037
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65504488
by mick, thanks good chart -
Got CALVF GOLD Mines profitable Gold production at a bottom
Au fishing penny play
Welcome to CALVF -
http://investorshub.advfn.com/boards/board.aspx?board_id=5294
Nwm Mining Corporati (NWM)
0.12 ? -0.005 (-4.00%)
Volume: 99,255 @ 3:17:48 PM ET
Bid Ask Day's Range
0.12 0.125 0.115 - 0.125
TSX:NWM Detailed Quote
Thanks dtstx for your insight.
Teedlum, I had bought my shares from the .08-.12 range. At that time there was another report (I believe on the website) that was a bit more aggressive with a target price of .40. I thought for the short term .20 was a little top heavy so I sold out right after we came close to that number to buy another stock. It would appear the share price suggests it wasn't a bad move but perhaps it had more to do with the company's production numbers ratched back to 12,000 ounces by yr end versus twice that estimate when that report came out.
So I would say since the company is predicting roughly $18+M for the yr (12k ozs @$1500/oz) then they should conservatively generate roughly .025/share NET and with a 15 PE .30 sounds reasonable. How the share price reacts and in what time frame is anyone's guess. Keep in mine they are still drawing down on their credit facility at least for the short term as pr'ed until production numbers pick-up (2k ozs/month starting 7-1) and there will probably be a lawsuit with Biotech and their SART process as a little negative overhang on the stock. Having said that .10 should hold. If not .08 is big support and a great buying opportunity, imo. As a plus, there's always a chance of a buyout as things progress and a potential premium offered based on perceived value. Next yrs production numbers should at least double also.
I'm stating this from memory so take it with a grain of salt, lol. Hope this helps.
That's good to know. Thanks. I read some independent analysis a few months ago with a price target of $0.30. Is that still reasonable?
Last "bi-weekly" update was 4-27. It's just nobody posted it.
A bit troubling the company hasn't updated its website for this news and is no longer issuing its bi-weekly updates. Maybe the new COO need to get settled in.
NWM announces John Van De Beuken as COO
Canada NewsWire
TORONTO, May 13
TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 403,545,785
TORONTO, May 13 /CNW/ - NWM Mining Corporation ("NWM") today announced the appointment of Mr. John Van De Beuken as Chief Operating Officer responsible for the commissioning of gold production at NWM's Lluvia de Oro mine and the development of its adjacent La Jojoba gold mine. John has more than 40 years of experience building, commissioning and operating mines and metallurgical plants. He has been involved in development and commissioning of the Nevada Moly Mine for Anaconda Minerals, the McCoy Cove Mine for Echo Bay Minerals, the Garfield Smelter for Kennecott Copper Corporation, the Alumbrera Mine in Argentina and the Mulatos Gold Mine for Alamos Gold Inc. In the past few years he has consulted for various companies that have required assistance with M&A, due diligence, technical and management issues.
"We are very pleased to have John Van De Beuken step into the role of COO at this point in the development of the Lluvia-Jojoba mines." commented Chris Berlet, CEO. "We look forward also to support from Bruce Thorndycraft in the development and implementation of the ASPN process, a significant development in the treatment of copper which will be used in the processing of ores from the Jojoba deposit."
Additional information about NWM can be found on the NWM website at www.nwmcorp.ca or on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Read more: http://www.digitaljournal.com/pr/308135#ixzz1MmK2Qy8i
Next support at .10. Haven't been paying attention to news/fundamentals lately. Anything amiss?
Nwm Mining Corporati (NWM)
0.125 ? -0.01 (-7.41%)
Volume: 354,450 @ 3:52:00 PM ET
Bid Ask Day's Range
0.12 0.13 0.125 - 0.135
TSX:NWM Detailed Quote
Press Release – February 9, 2011
Posted by Manager on February 9, 2011 under News
NWM Commences Exploration at Campamento
NWM is pleased to announce that the 2011 exploration program has begun this week at the Company’s Campamento exploration area. This is an area south of the proven and probable gold reserve currently defined at the La Jojoba northeast zone.
Campamento is highly-prospective for gold mineralization and has specific target areas identified by an enzyme leach soil geochemical study conducted in 2010. Previous soil geochemical anomalies and several historic workings also provide evidence of the excellent potential for resource discoveries at Campamento.
Field work began this week and consists of mapping existing geological features and historic workings as well as the further collection of surface samples. Engineering support is being provided for the design and construction of roads across the Campamento area, which will facilitate access by exploration drills and geological teams. Construction support has been mobilized to provide a small exploration office, a drill maintenance shop and utilities.
Contracts have been issued for a road building and exploration drilling program. The drilling is scheduled to begin on Feb 14, 2011, and will extend over 2-3 months. The initial contracts are for 4,000 meters of reconnaissance drilling, with holes designed to probe specific target areas. The data from this initial drilling will guide the siting of diamond drill holes to further test any mineralized zones that are detected.
The Campamento Exploration program is being directed by Esteban Dominguez, Chief Exploration Geologist for Minera Columbia de Mexico SA de CV (MCM). MCM holds title to all mineral claims covering and surrounding the Campamento area and the adjacent Lluvia-Jojoba Project. MCM is a 100% owned subsidiary of NWM Mining Corporation.
http://www.nwmcorp.ca/?p=814
Bi-Weekly Update – January 14, 2011
Posted by Manager on January 14, 2011 under News
The New Year starts where we left off last year: drilling and blasting in three different parts of the Creston Pit, loading new ore on the new leach pads, and continuing with exploration and resource definition drilling. Of course, the laboratory is still preparing and assaying samples, the cactus rescue crews are digging-up cactus and replanting them in areas out of harm’s way, and the various construction crews are working on improvements and expansions of a number of things that will increase the productivity and efficiency of operations.
http://www.nwmcorp.ca/?p=798
~Corporate Web Site...
http://www.nwmcorp.ca/
Nwm Mining Corporati (NWM)
0.155 ? -0.015 (-8.82%)
Volume: 2,687,484 @ 3:59:53 PM ET
Bid Ask Day's Range
0.15 0.155 0.145 - 0.155
TSX:NWM Detailed Quote
NWM receives Jojoba Mining Permit and Lluvia Dos Leach Pad Construction Permit
Mar. 7, 2011 (Canada NewsWire Group) --
TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 402,069,593
TORONTO, March 7 /CNW/ - NWM Mining Corporation (the "Company") is pleased to announce that its 100% owned subsidiary, Minera Columbia de Mexico SA de CV (MCM), has been granted a permit to begin mining operations at the Jojoba open pit gold mine. The Jojoba mine is located 6 km west/southwest of the Company's operating Lluvia gold mine.
With only the Lluvia mine in operation, the ore mining rate for the project is 5,000 tonnes per day. The Mining Permit for Jojoba mine will allow MCM to undertake mine expansion in 2011. By year-end 2011, the two mines combined will have an ore mining rate of 10,000 tonnes per day. The Jojoba mine will provide higher grade ore to the heap leach operations of MCM and these higher grades will become more significant as the Jojoba pit is deepened.
Based on NI 43-101 compliant gold reserves published in July 2010, which were calculated using a gold price of US$900/oz. Au, the Jojoba northeast zone mine will produce 8.9 million tonnes of ore, containing 214,975 oz. Au. When the open pit is re-designed at current gold prices, tonnes mined and life of mine gold ounces for the Jojoba northeast zone deposit are expected to increase.
NWM recently announced the start of exploration drilling at Campamento, which is a target zone 1 km southwest of the planned Jojoba open pit mine. No mineral resources exist for the Campamento area to date, however surface sampling and numerous historic workings at Campamento have encouraged NWM to focus exploration efforts there in 2011. The Campamento zone has potential to significantly extend the life of mining operations in the Jojoba district.
NWM is also pleased to announce that MCM has been granted a Construction Permit for the new Lluvia Dos pad. This new pad has overall dimensions of 1.2 km in a N-S direction, and 0.6 km in an E-W direction. It will be constructed in 5 sections, each of which can be used in isolation during construction of subsequent sections. The Lluvia Dos Pad will be constructed for a total capacity of 45 million tonnes of ore material. This is more than the presently confirmed reserves of the Lluvia open pit and the new Jojoba open pit mines, and so the Lluvia Dos pad can accommodate any expansion required with exploration success.
The Lluvia Dos pad will be unique in that it has been designed and permitted with a significant focus on metallurgical controls. These controls will enable MCM to achieve better segregation of gold-rich solutions from copper-rich solutions. As the Lluvia-Jojoba project is known to have cyanide-soluble copper, the design and development of metallurgical controls is key to further successful project development.
This press release has been prepared by R. Bruce Thorndycraft, COO.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information", as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the success of exploration activities, price outlooks, production expectations and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
please contact NWM Mining Corporation at (416) 364-6799.
Not quite record volume but 6th will do...well be great next week..
http://tsxventurereports.blogspot.com/2011/02/tsx-venture-most-active-and-biggest_18.html
Hi FI, I completely agree with your target I think we'll get there before early march but I don't think the price of gold plays in to the sp as much. This company has been many years in the making and appears to have a higher yeild form of mining gold..and at this point the management have probably been holding back press releases until the warrants have expired...which they did this week. In my opinion press releases will decide sp. They have many updates coming up including proven/probable reserves, hitting target production and new drill results. This is just the start and I intend to tap out around .25 and get in again before jjajoba(sp) mine starts up...I wish I had the funds to stay in! Good luck trading...
Looking good!
Whoa just hit the $0.20 mark.
Congrats to all longs! My price target is around $0.25~$0.30 depending on how gold does in coming weeks.
The company is very undervalued. Added to my position in the past few days with dips to .165
I have never seen any company update their investors with bi-weekly news posts on their corporate page.
Gold is hot, their property has tons of potential, and their mining methods are easy to understand.
Let's go...one more day ..Thursday-Friday should be record volume...based on the amount of interest...on other boards lol and the expiry of outstanding warrants on the 17th.
This is more like it. Looks like some investors have picked up on it and let it run!
I would think that Daytraders are at work. They could drive it way up!
Whatever the driver it sure looks good!
http://stockcharts.com/freecharts/gallery.html?NWM.V
After today's new 52 week high there's a 40% profit built in for them if they do. I assume they're free trading.
"I think that NWM Mining might be boosting the price up so that the warrant holders will exercise them."
I think that NWM Mining might be boosting the price up so that the warrant holders will exercise them. I would think a lot of people might bail out before the warrants become cheap shares.
Exactly (2) weeks yet. (2-17) I believe the buying has been held up to anticipate them being exercised as they're significant (55M still). Perhaps there's a feeling if they haven't showed up yet they won't. We'll find out here eventually.
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NWM Mining Corporation
O/S 223 million
~Corporate Web Site... http://www.nwmcorp.ca/
Gary Lindsay, mentioned below is in the Denver area:
Investor Relations: Gary Lindsay
Stratastar Marketing Group LLP
720-273-6224
*Existing Proven & Probable Reserves 384,361 oz.
*Current 43-101 compliant gold reserves (proven & probable) at Lluvia de Oro and La
Jojoba: 19.5 million tonnes @ 0.6118 g/t (384,361 oz. Au) providing an estimated mine
life of 7.5 years
http://www.nwmcorp.ca/nr/lp2.pdf
~NWM Mining Corporation is a Canadian mineral exploration company focused on the development of the Lluvia de Oro / La Jojoba gold mine located in Sonora in North West Mexico. The project covers a total of 5,075 hectares and encompasses the past producing Lluvia de Oro mine, the La Jojoba gold resource, and numerous historic workings.
*NWM recently announced the first phase of a 25,000 metre diamond drill program in 2010. The company will also test numerous, previously defined drill targets which have the potential to expand Lluvia de Oro and La Jojoba into a district level gold project.
~Recent News Highlights...
*NWM Announces Amended Standby Credit Facility and Private Placement
*NWM Mining Corporation (TSX-V: NWM) is pleased to announce the increase of its US $6,000,000 standby credit facility, announced on June 3, 2010, to US $16,500,000.
From the IR:
The company is 3 months (December) away from gold production. That is the time period that share prices historically increase the most. (as well as during initial exploration) The company will be self-funding after production begins.
The NI 43-101 gold resource is listed at almost 500,000 ounces. That will change this fall - infill drilling will be completed and increase the resource ounces significantly. Although it is still not measured yet - the expectation is that the infill drilling will provide another 500,000 ounces and will put the company at 1 million ounces of gold reserves.
Exploration continues to occur on the property and the porphyry system containing the gold source has just been found. So, that will provide significant resource growth through exploration of that part of the land package.
The value of the ounces of gold in the ground for the neighboring properties Capital Gold and Timmins are 3.5 and 6 times more than NWM. So, the company is very under-valued when measured from 500,000 ounces of gold. Yet there will soon be twice that number of gold ounces.
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