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NXM - Nexus Minerals

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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.



 
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
 
Hmmm

Something’s afoot here…

Near zero sellers and lots of buyers.

Up 24% on no news… yet.

Speeding ticket soon??
 
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

 
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
 
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
 
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
 
NXM again for a convenient pick in the December comp.
Made it to #6 on the ladder in November comp but from the chart imo, it could pop during any month as long as the gold price holds up.
The material reasons for following this speculative stock have been dealt with in the thread but the chart shows price continung to consolidate short term gains and is conceivably near the business end of a 19 month basing pattern?

Held
Tradeable

WEEKLY
 
Why did I pick this woofer again in the comp after coming last with it in December? Like Prince Andrew's reason for hobnobbing with Jeff Epstein I guess - "too loyal".

Held
 
NXM still has the characteristics of a basing chart I believe. Note the latest candles are prospective for a second shallow higher low and that volume was relatively strong this week.

Past comments have focused on the Walbrook project and the potential for Northern Star to take it out - or is that just hopium after all this time? Only briefly mentioned has been the simiiarly located Pinnacles project which looks to be a handy and fairly ready resource:
"Pinnacles has a JORC 2012 Combined Mineral Resource Estimate (ASX:NXM 27/2/2020) of: Total MRE: 609,000t @ 4.0g/t Au for 78,000oz (open pit and underground) Open Pit: 159,000 @ 2.4g/t Au for 12,000oz Au, Underground: 450,000t @ 4.6g/t Au for 66,000oz Au"

Of course a critical announcement that could move the share price might come in the Quarter or in a year, if at all. This month is a big ask.
Gold price coulld be helping. They had $5.7m left at end of Qtr 31 Dec.

Held
50% Tradeable



WEEKLY
 
More cheap shallow aircore drilling commenced at the Walbook project near Northern Star operations. Looks like it is mostly focused on the Payn prospect which returned some very good shallow a/c intersections in late 2024. If they can expand Payn's mineralised area it could get interesting. Results aren't expected till March/April so not helpful for my entry of NXM in the February comp. Bought 20,000 more of these @.053 on 3 Feb after rereading about the Pinnacles project mentioned in the above post. At mre 78,000 ozs @ 4g/t It looked a handy add-on to the main game, that being the Walbrook project. All speculative of course and carries the usual high risk of dilution.

Held
50% tradeable

 
Fell back 12% on Friday for some reason. Maybe just short term negative sentiment to gold.
Weekly Chart retains a sort of pregnant look but the labour is long, the culmination uncertain.

Held
Tradeable

WEEKLY


Promo video posted two weeks ago
 
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