Calgary_AB wrote: In my opinion, NMX will go sideways for a few weeks possibly months with low daily volume. And why do I think that?
Here is why:
- NMX lied to investors in Dec. or maybe something else went terribly wrong that NMX doesn’t want us to know… possibly that Doris FS comes out way under expectations and not adding value as expected.
NMX PR Dec.12 Full press release here:
https://www.nemaskalithium.com/en/investors/press-releases/2016/c9777810-db09-4d48-9b81-239e4eac0efb/ Feasibility Update and NI 43-101 Compliant Resource Estimate Update Nemaska Lithium recently announced the results of its updated NI43-101 compliant resource estimate on the Whabouchi deposit (December 1, 2016 press release) which included the results from the recently completed drill campaign. This resource estimate saw the Measured and Indicated open pit resource increase to 36.620 Mt at an average grade of 1.48% Li
2O. DRA Global/Met-Chem has been mandated to update the reserves of the Whabouchi mine in a new Feasibility Study due in January 2017.
NMX PR Jan.17 Full PR here:
https://www.nemaskalithium.com/en/investors/press-releases/2017/b51e2041-7dd0-4453-a3f3-7b85a26523e6/ “We have therefore elected to confirm the continuation of the Doris Zone to the east, before incurring the necessary expenses to update the current feasibility study”
- NMX management has in the past numerous times announced news about news coming but not delivered or was late.
That has lowered the credibility, it is hard to trust a company that is not transparent and clearly the news and videos are inflated for the purpose of getting SP higher so they can get financing… SP was $1.90 when NMX announced financing with Dundee at $1.15 + millions of free warrants
- NMX Jan.17 PR announced more drilling in Doris for the next 3 months, that means more money spend and I am not 100% they will find what they are looking for…what if they don’t find it, how are they going to delay again the FS?
- NMX needs financing NOW not 3 months from now, if FS looked better than last June FS they would have released it without more drilling.
- They need to finance the first part of $500 mill CAPEX in order to receive the Plan North portion, so they are in panic to get financing. It will not surprise me if we get another financing PR before any other good news…and so far NMX did not prove they are capable of making deals.
I can go on and on about NMX management not being able to make good deals...including selling raw material to competition (see FMC deal)
Which raises another question, how come Bourassa in his bio has no company names on his resume? After more research I find out that he was the President of T-REX vehicles in Montreal.
T-REX is actually successful under new ownership and management however it went bankrupt under Bourassa management. Usually if owners are the problem, new owner keeps the good people on board, well Bourassa wasn't one of them, why?
How come Bourassa did not mention anything about that in his resume bio?
https://www.moto123.com/essais-routiers-motocyclettes/article,t-rex-2005.spy?artid=49202 here is the T-REX history:
https://en.wikipedia.org/wiki/Campagna_T-Rex I personally believe that everyone needs a new chance, however if that someone didn't learn and continues to make mistakes that jeopardize my investment than I will be very cautious and as soon as I see any sign of problems I sell…
NMX has some good things going for it, the management needs to do good for their investors and stop making bad deals and decisions. I've been saying that before: Smarten up Mr. Bourassa