Calm before the lift-off So much consolidation in the $2.70 - $3.10 range just seems due for a rocket launch once results, 43-101 come down the pipeline. The more I try and look for a project that hosts the same potential the more I'm brought back to this play as there simply is nothing comparable.
$330 million (after cash) for a deposit with a breccia that will likely host upwards of 3 Moz of high-grade gold, a low-grade mineralization halo surrounding the breccia that has been explored over a strike of roughly 1.5 km to date that is showing high-grade silver and economic gold and a step-out 1 km to the southwest with more favourable bulk tonnage gold/silver than found to date at the main drilled area.
I can comfortably say I feel NES has 7-8 Moz delineated to date at Ana Paula and this number continues to grow for every step-out they come across and can expand on. If we were to find another breccia or bulk tonnage step-out the ounce count could be moved to a speculative 10 Moz.. now that's just at Ana Paula and on the current 1 X 2 km footprint.. stepping outside of this we could be looking at 12-15 Moz at Ana Paula alone and I wouldn't count it out given the geological team we have (some of the best with incredible track records of discovery) - Thanks Gillian and Craig.
The other 80,000 hectares of the GGB that NES holds haven't even been touched or scratched the surface in terms of exploration potential and finds there could even be joint ventured/spun-off down the road if Ana Paula proves to be enough of a success that they can't focus their efforts across too many properties.
I know this is a lot of blue sky and dreaming or may sound like it but I feel that the speculative upside on this play cannot be matched to any other junior currently. NES has a floor of 5 Moz of gold which is covered by the current share price and market cap (priced in) and they a ceiling of almost unlimited ounces of gold.. obviously there's a number but let's say 20 Moz.
How can you realistically put a cap on how many ounces NES will find when is less than 15 months they've found a discovery of almost 3 Moz of high-grade gold (breccia), expanded on the previous bulk tonnage (+1 Moz) and found a step-out completely outside current drilling. They also did so with a market capitalization of $100 M < which is something Goldcorp couldn't do ($40 B market cap) when they first explored Ana Paula.
Any geological team that can add 5 Moz a year of gold to a property and quality gold at that has my vote and I don't think can be doubted. The GGB is one of the most underexplored gold targets in the world and NES is just getting started in my opinion...
My worst nightmare would be a buy-out before year end and no possibility to keep exploring with the team we have in place. From management down to the groundwork everything is done professionally (PP with no warrants at good price) and I will have a very difficult time finding a new place to park my money if I do receive G shares in exchange for NES this year.