Institutional Sponsorship My favourite aspect of the NES story? Those of us that have been in since the beginning have seen a 5-to-10 bagger with little or no institutions hopping on the bandwaggon. There has been no analyst coverage until recently (and even still, it's one shop - Euro Pacific - no offence Euro Pacific but.........). Now the pulse is starting to quicken. There are sales and trading desks that are starting to follow the story, going on analyst tours, and making markets in the stock. This is likely due to the fact that the story keeps improving with more exploration targets to the Southeast, and Aurea Norte in the North. That means that NES will need more money, which involves and equity raise, which means that i-bankers put a fire under their sales and trading desks to get the story out and increase market share of trading volume so they can be involved in the next financing. What to make of all this? NES is just getting going. Have patience, understand how strong the fundamentals of the gold market are, look at a long term chart and the strong consolidation period we are seeing, and know that once the institutions start buying up the small amount of NES' available free float, this stock will go to $5 with no change to the story, and even higher as the drills keep turning and we get closer to a resource estimate. Once we get that 43-101, look out. So stay patient, sit back and relax... because starting right now, the big boys are about to do all the work for us! -YC
ps. yesterday we saw this beginning. A weak day in commodities and we saw a 3.4% increase in the SP on good volume. Look at the broker summaries of who was buying. The answer is: the right people (Cormark, Europac, BMO with a 70k print). I look for that to continue nicely in a stronger market today.