RE:The Road To Productionbargnhillbilly wrote:
It looks like NAM has hit a bump in the road. The Market and shareholders a like don't like uncertainty. I think we were all set to hear who the J/V partner was and instead we heard how NAM will surface mine some specific areas along the footwall with not much details. NAM is not set up to mine so who is going to help NAM? I think when Trevor Richardson went to Africa and spent nearly 2 weeks there. A lot of how to mine this footwall surface was discussed with Anglo. Yeah, I know Anglo's a client but spend 2 weeks with a client and all of a sudden NAM people are now miners and NO J/V partner required? LOL It obvious to me this Footwall and mining it were talked about in great detail. I'm hoping that Anglo is involved more in this than even I can speculate. With Anglo the former owner and being familiar with the property after spending 20 million dollars on the River Valley. I can see where Anglo would be The Go To Guys. I hope Trevor has worked out something with Anglo as Anglo has the means and the know how to get us to production on a regular schedule. If NAM goes it alone and misses a bunch of timelines the Market will spank us like a Red Headed Step Child! This is all speculation on my part. Feel free to comment.
Great post though NAM has ZERO intention to mine this property by themselves.
They will 100% look to secure a JV partner to do two things:
1. fund the PEA (1.5 million) so that this project can be sold.
2. fund more drilling along the footwall, further increasing the buy price.
There is ZERO intention to dillute the shares and ZERO intention to mine this themselves.
My understanding from NAM twitter is that Trevor was in SA in Feb for a private equity mining conference. Now he may have met with Anglo, as I'm sure it's his business to meet with any and all potential suitors.
At the end of the day we are now at around 5-7 billion dollars just hanging around in the ground.
That's 6.50 - 8 dollars a share, fully dilluted.
Not bad at all.
So here we are ladies and gentlemen. I'm firmly strapped into my seat on this rocket. Who's with me?
:-)