I am going to pass on this oneAfter weighing pros and cons I have decided to avoid nlr:
Pros:
Liquid assets in the form of Reyna Silver shares from sale of Medicine Hat that is worth around $3 million.
Very promising but still early stage Secret Pass exploration property
C$2 million market cap assuming around 80 million shares outstanding after the convertible debt is paid off.
Cons:
No insider ownership
Same incompetent management that destroyed 99% of shareholder value is still in charge
Burnt thru $3 million in cash in last 2 years, so their Reyna shares will last only 2 years.
Huge overhang of tens of millions of cheap shares acquired at 1-3 cents range.
I think Mexican Gold (mex.v) with similar fully diluted $2 million market cap and a PEA in hand showing 1 million oz AU equiv. is a better 2 cent play.