When you look at what activities NAE is currently undertaking on...

When you look at what activities NAE is currently undertaking on its own accord, its really just collecting a few rock chips at a very early stage gold project. Redmoor is now a passive investment and Lochinvar they are trying to salvage some value from but reality is they won’t spend any more on it without a partner. They really needed to close the acquisition of that “advanced gold project” for it to maintain its momentum. Looking for new projects seems to be on the back burner now for some unknown reason so I’m not really sure what their strategy is going forward, are they just trying to be a passive investment vehicle? Not sure why RCF would hang around if that was the case. I liked the idea of building a good mix of gold projects but that strategy has all but disappeared.

If you take away the props on the buy side, this would drop further. Its been a long time since a buyer has stepped up to the plate to meet the sellers