These results are fairly underwhelming imo. Gold mineralisation seems reasonably widely spread but grades and intersection thicknesses are somewhat disappointing. I know this was only initial exploration but none of the results stood out as being either high-grade or decent thickness.
I see still see value in NML as a whole but not yet at Irvine. Their likely future 49% holding in Tandarra probably justifies their existing $30M market cap and that is where the value lies at this stage imo. Having said that, I've sold out of NML on open this morning as I suspect the SP may give up some of it's recent gains on these results. May look to buy back in if price does drop below 10c or if CYL come up with very exciting results at Tandarra.
Disclosure: Still holding CYL but sold out of NML
NML Price at posting:
10.5¢ Sentiment: Sell Disclosure: Not Held
