Ann: Redmoor 2018 Resource Update, page-106

NAE has always been recognised as a coal company and completely ignored for its tin project. The company previously ran from 1.5c to 4.2c on the back of the surge in coking coal prices early last year. Managment had decided to continue operations at Lochinvar which created a lot of attention and brought in new investors. During this time management were able to perform 2 successful raises from memory but one bad one which left a bitter taste in the mouth of many investors who bought in during the run.

Lochinvar is currently in advanced negotiations with potential investors going off recent announcements. Wether we sell, JV, or raise to proceed the project is still unsure, but it has aNPV of $400M+ USD so either way the potential is huge.

Redmoor on the other hand is currently on the verge of being proven viable for production. Many investors doubted the potential of Redmoor but it is now proven to be one of the top 5 ritchests tin mines in the world, with the potential of doubling our high grade resource in the near future.
Redmoor is within close proximity to WLF’s Drakeland mine, which shares our major shareholder RCF who own majority of shares in both companies.
Recent valuations show Redmoor to be currently valued at 15-17.5M on that project alone for our 50% share.

With a MCap of only $4M the company is significantly undervalued in my opinion and a great time to take a position if you are willing to wait this one out. Potential far outweighs risk in my opinion and will be looking for a significant rerate once projects are going ahead.