RE: Mackie: Speculative Buy for NKL and $3 target Now that this a sober perspective on the situaiton.
The overall tone of the press release suggests to us that the new management team is unsatisfied with previous work and is largely starting over with respect to the economics of the Wellgreen deposit with the goal of producing a new and more robust PEA in Q1/14
Additionally we factor in a $16 million equity financing which we view as the minimum amount required to execute the exploration plan.