NXR - Nemex Resources (Iron Ore West Africa)

[skeet]

Ok, thought I might start a thread on Nemex as the name has been thrown round a few times now and some of us are taking small bites into this micro cap.

Basic background:

Iron Ore in Guinea West Africa,
Cash in the bank approx $3.5m (@ 31st Jan)
Current CAP: $6.7m
Shares on issue: 42,625,001
Aggressive drilling program they should start this quarter (300 shallow drills all within 10kmsq, Nemex own there own drill) This was meant to start in Feb but they have had equipment delays, announcement due out tomorrow on this.
Total licenses cover 2,911 sq km
Oppies have an exercise price of 20c 31/03/2014
Oppies on issue: 27,312,500

Current share price: 19c
Current oppies price: 5.8c

Could go on alot more about this stock, but im no Iron Ore expert so Ive got a lot to learn.

More here: http://www.nemexres.com.au/

[skeet]

Great drill results out today, up to 8m of fe intersected, had been expecting 1-3m. All this on only 10 drill results, very happy that ive stacked my portfolio heavily with this stock in th last few months.

[skeet]

Really happy with the last couple of days :)

http://www.nemexres.com.au/sites/4dbe04e850ee853d0e00046d/assets/50edeadb50ee852050000868/nxr_maiden_resource.pdf

[Corporate]

Really annoyed with myself. I had the chance to buy 75,000 at 7c on Thursday morning after seeing the announcement. It just sat on the sell side waiting to be taken and I should have backed my gut feeling. Instead I hesitated as there wasn't much interest at the time!

[skeet]

Price held up well over the week, still a bargin.

[skeet]

Anyone been picking up any recently?
Up 141% so far today!

[skeet]

Rampers were all over this stock today on HC
Hit 18C before closing at 11c, manage to sell out at 16c before buying back in at 12c.
Tomorrow will probably be another crazy day....

[skeet]

Pressure is building, should see this one fly within the next week. Manage to pick up a few more at 7.5 cents over the last few weeks.

[bermuda]

Pressure is building, should see this one fly within the next week. Manage to pick up a few more at 7.5 cents over the last few weeks.
Skeet,
Pleased to hear that. Am holding ( at a loss! ).

[skeet]

The concept study due by the end of this month. Although with the long weekend, ASX closed Fri and Mon, may be next week.

Bermuda, I doubt you will be saying that by the end of the year!! :)

[skeet]

Market reaction to the Concept Study wasn't very favourable today. Mind you turn over was pretty low with only $48k traded. Personally I'm pretty happy were things are heading, picked up a few more shares today.

[skeet]

Currently looking pretty sad, bought more at 2.4c though (averaging down, cardinal sin I know..:P)

One of the few positives is DIR doubled his holding, always a good sign in tough times. Although I'm sure he could have just mortgage his house and just bought the whole company, market cap is under 1million atm