My 2 centsI've been a long time investor with NES and long term believer in AP's potential. I've known Richard Whittal for number of years and his kicking himself for letting the the company be acquired by Timmins. My opinion is that Lundin should have run NES as a stand alone and with his experience and capital, the development of the property would have been expedited.
Now having said that, I've sold third of my holdings this year and just this week, bought back most of it. I will purchase more if the sp drops further as this is indeed an exceptional buying opportunity. The management under Backens has made this once basket case into an exceptional target for a mid tier acquirer. The company has no debt, has ample Cash of well over $30 million, equipment to build a mine and clear plan to bring AP into production on schedule.
There is no question that AP property is one of the best high grade property in NA. It has one of the lowest AIC and will likely increase it's resource estimates as we explore the property further.
As a comparison to our peers, we are severely under valued. Even with a non producer such as FF, we are currently a third of their value which is crazy at best. The single biggest problem with TMM is that we now need a leader that can market the story. Obvioulsy Backens isn't the man and they still haven't announced the new CEO. We need a leader that has the ability to drum up institutional suppport along with all the MMs in the industry. An exceptional leader can make a difference, just look at FF. A non producer with questionable properties that will never go into production.
All the best to the Longs and God Bless.