From one of the truly best posters hereNow we all know that's not bad doc-lol
I won't say who it is but this was a PM he sent me as we and others have been going back and forth about what really happened at Bisha and NSU mgmt. This is his response to the latest Seeking Alpha disclosure of the technical report on Bisha and some comments a few of us have made today on PM messages. I think it's a great assessment and many here should read it as some of us have already. I hope he doesn't mind.
Agreed, with those numbers, the risk reward makes no sense. With what they have now, they should generate at least 150m in margin. I see them optioning it off after that to a player that can sell paper to the market based on " hunting the next bisha" maybe NSU keeps an interest or just lets it go for a small sum and avoids some closure costs. A good mill and prospective land is worth something, if anything, to allow another entity to paper the market.
What NSU did regarding Eritrea is somewhere between deceit and fraud. They way they did a 180 in such a short time is unbelievable. Not just about underground, but the whole story. Truth is Timok was and is the story. The reality is, its a long way away and with what the management has done to this company, we are dead in the water despite any positive events that may come out in the short term. NSU is the very definition of "dead money"