Good post. Agree with your view point. NST have already spent nearly $28m hoping onto the EAR train. The company is trading at less the replacement price of the Bronzewing plant as it is. The 1.7m probably oz's and huge land package are for chips at these prices.
I also think the bid will come this year and yesterdays announcement was not lost on them. The current drill program will add ounces and mine life even without drilling the new 20km conduit they have discovered. That was extremely enlightening news to me. The exploration potential just multiplied.
It becomes very interesting when you consider the mines and gold found on the same strike down to the south. It strongly suggests that more large discoveries are to come this year and the company have stated that. NST could use its healthy paper to bid for this soon on similar terms with a cash component. If i was them., i would move sooner rather than later. 1.7m ounces across to reserves would allow them to produce 200,000 oz pa for over 8 years as it is and that will keep growing. Given the low cost of those ounces, it should come this year imo. Lot higher than the current market price is factoring in. They are not their for a holiday. dyor
EAR Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
