NXM - Nexus Minerals

[finicky]

How timely for my September pick - a capital raising.
Price has moved from 0.052 to 0.041 over 6 days and then they announce a raise.
Should've noticed that 2 months ago at eofy they only had $4.4m left. Around $4m seems to be the limit for this sort of company to get down to before they set gears in motion to tap the market for money in return for minting shares.
This could devolve into another Musgrave Minerals where my grubby scheme of profiting from a takeover was realized (by Ramelius) but at a price lower than my average entry, due partly to dilution.

 

[finicky]

Terrible price to be raising but at least it's not at a disount.

 

[finicky]

Picked for the Oct comp. It's just a bottom drawer spec stock desperate to have Northern Star make move on it.
More aircore drilling should start before long on its Walbrook Project but that's hardly likely to affect the share price in October.
Has almost $7m cash after the Sept placement. The chart maintains its basing prospectivity, that being the only thing I checked out.
Enthusiasm about 5/10.
Held
Trading sentiment

WEEKLY

 

[Tyre Kicker]

Hmmm

Something’s afoot here…

Near zero sellers and lots of buyers.

Up 24% on no news… yet.

Speeding ticket soon??

 

[finicky]

 

[finicky]

More meat on the bone with some diamond drilling infill results for their Crusader-Templar gold deposit. I have highlighted the nice shallow depths. Maybe just a bump for the attention of the market.

The sketchy A$3950 gold price assumed in the revised MRE by a different consultant doesn't seem quite as fantastical these days. I do tend to believe this deposit will eventually become too tasty to lay idle. It will be picked up by nearby Northern Star as was Strickland's (STK) Millrose deposit for NST's Jundee mill. Either that or the more laborious toll milling route. This was my thinking though for Musgrave Minerals (MGV) and that whole company was acquired (by Ramelius) but at no profit to me because the process dragged on for so long that Musgrave diluted its share issuance and the directors sold us out.

Report also mentions the ongoing Crusader-Templar regional aircore drilling program.

Held
Trading hopes

 

[finicky]

Might be The Pinnacles project that gets some action and cash coming in before the larger Crusade-Templar project?
Hadn't taken much notice of it as it's small and largely u/g.

Dated 2 days ago

 

[finicky]

Picked again in the monthly competition. Purely chart based, apart from the practical reasons already commented upon and unchanged.
It still looks to me like a basing chart fertile for a catalyst. But if and when that catalyst appears is down to Dame Fortune.
At least the initially dodgy looking second go at a Maiden Resource Estimate (MRE) for the Crusader-Templar deposit, the one that was based off an assumed gold price of $3,950/oz, is now looking quite reasonable. Project needs a white knight.
The retrace over the last two weeks has been on lower volume so looks normal to me.

Held
Tradeable

WEEKLY

 

[finicky]

Nexus well up in early trading and with some decent volume. Will probably give a lot if it back. Further baiting the hook with nice cheap aircore drilling of 'Wallbrook' regional prospects. The main prospect in the Wallbrook project, with a pit shell constrained MRE already established, is the Crusader-Templar deposit but these outlying mineralisation discoveries in the near region are early endeavours to build some scale. Nice and close to Northern Star's Carosue plant. Hey I'm saying 'nice' a lot.

Held
Tradeable, speculative

DAILY

Note shallow drilling and footprint of Godfrey prospect