Investor Relations has explained the setup looks favorable right now. REEs and platinum group metals are in demand, and that matters. Even a strong asset goes nowhere if the market doesn’t care about what you’re pulling out of the ground.
The company isn’t speculating. The minerals are actually there and it lines up with the historical Blackstone data we’ve been watching. Background/Land Use HistoryThe site has been used for precious metal mining since 1983. An estimated 8,000 ounces of gold have beenrecovered in the area over the years. The size of the gold found ranges from extremely small particles tonuggets weighing several ounces. Past operators recovered only the coarse gold. The fine gold and otherprecious metals were placed in pits for recovery at a latter date (pg9). https://nmcinc.com/web/wp-content/uploads/2018/03/MOP-Report-Final-12-31-09.pdf
But the real question isn’t if the metals exist. It’s whether they can be extracted in a way that makes money. That’s the whole ball game. That’s why Allen Schappert’s Phase 1 and Phase 2 reports matter so much. Phase 1 confirms the metals are there. Phase 2 and the follow-up technical work determine if it’s economically viable to pull them out. That’s the part that decides valuation.
To their credit, the company is being pretty clear about where things stand. They’re not selling a share price. They’re laying out a process to prove the project’s value step by step.
The asset is real and it’s in a hot neighborhood, but until they prove they can extract it profitably, it’s still just potential (Phase 2). Think of it like a locked treasure chest in a prime location. We know it’s there. Now they need to prove they can actually open it.
The company has a lot moving behind the scenes and they don’t usually speak on things until they’re confident they’re actually going to happen. Stay tuned🙂
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