Q1 2018 & PDACThe leadup to PDAC in early March should be exciting for NAM.
The metalurgical results from Glencore's lab in Sudbury are expected by mid February.
This is the first step toward a PEA.
But more important than that is the fact that it is Glencore that is conducting the study.
With their proximity to the River Valley deposit, who better to be interested in NAM?
NAM is aiming to have the new resource estimate and 3D model completed before PDAC.It has been 5 years since the last resource estimate of 3.9M oz PDEQ M&I and the most exciting discoveries have occured since then.
The recently discovered footwall mineralization starting at 4M includes the highest grades at River VAlley.
We should expect significant increases in the size of the resource and with PD selling at record high prices, the value of this deposit continues to rise exponentially.
My back of the envelope valuations are significantly higher than the conservative estimate done by Fundamental Research.
FRC estiamted that NAM was trading at $0.70 per PGM oz in Sept. Now PD is around $1100 and PT is just uner $1000 per oz.
FRC conservatively estimated the fair value of NAM shares at $.49. My rough calculations indicate it should be double that at $1.00 per share as the deposit sits in the ground. This does not include the value of the AAZ JV.
Glencore and Vale are not the only companies that will be interested in the River Valley deposit. The President, Trevor Richardson is currently in South Africa and will be talking to his connections there, including Anglo American. They were once owners of the deposit and only sold it due to unfavourable market conditions and cash flow considerations.
We shall see what comes out of the Vancouver conference this year but PDAC in Toronto will be very important for NAM in early March.
Hard to understand what is holding this stock down?