Ann: Quarterly Activities and Cashflow Report, page-5

I've said before, i'm reasonably new to NAE and i'm sure there has been some misery along the way as there often is with small caps. fortunes, both good and bad, turn on a dime at this end of the market. I appear to be reasonably lucky in that I think i've called it somewhere near the bottom and the projects, IMO, are solid. The direction change and slow pace is often going to cause downward drift on SP and the NZ gold project that seemed to soak up alot of attention prior to redmoor was less then inspiring... so i can see why the price is where it is. However they seem to have got a plan of action that is to develop some very solid projects in increasingly in demand resources.

An MC of 4 million, there is definitely upside from here, but if you're in the red I can see how you'd not be so optimistic. IMO now is the time to double down as they develop the two possible company makers. It may still be 12 months off a huge SP spike, but patience is required for these types of projects, especially in coal and tin (super unsexy) but the metrics won't lie and value will be reflected..... eventually.