seem no also cause never get approval from nex metal side....all is info promote by ppl only which no announcement from both side...by the way i buy this share since last year for its growing biz but now seem the wrong decision make...sigh
Drilling Recommences at the High-Grade Kookynie Gold Project
Nex Metals Explorations Ltd (Nex or the Company) is pleased to attach an announcement by Metalicity Ltd (ASX: MCT) our Joint Venture Partner (refer to ASX announcement dated 4 May 2019) with respect to drilling recommencing at the high-grade Kookynie Gold Project. Metalicity will undertake an initial 5,000 metres of RC drilling over the coming weeks at Leipold, McTavish and other prospects. Further drilling is expected after review of recent drone magnetic observations.
During the Dec 15 2019 interview by the edge, The developer's executive Chairman, Andrew Khoo informed that the company have 40% investment in Nex Metals Exploration Ltd, a gold exploration company listed on the Australia Securities Exchange.
The backgroup of this investment
Back in 2011, the property development arm of Mui group, granted Nex Metals a loan in the form of a secure convertible note amounting to A$1.5million (RM 4.5million) with interest payable at 10% per annu, to kick off its first gold exploration venture.
The rationale behind issuing a secured convertible note and not an actual loan was to give Mui Prop the option to convert the note into shares when the time is right. It was also less risky than acquiring a stake in Nex Metal at the time as gold price were volatile. They have been receivig interest payment over the last 8 years.
on Feb 2020, Mui Prop announce that Nex Metals has found ' high grade gold mineralisation' at the side in western Australia. Somehow, few others mining also have high potential to find GOLD.
ON 12/11/2019, ASX announced that MUI PROP total convert 12.5million (equal to 40.73%) of Nex Metals at the share price of A0.01338.
Kenanga recommend. This cause price to spike today. Taking about the stake in the Australian Gold exploration company. Look at 1 wk share price and you know they have no gold.
This is not gold stock yet because 1. Yet to complete the convertion of convertible note 2. NME yet mining gold However there are good chance of strike enough gold concentrations to start mining With higher gold price it will be easier to get funding for exploration.
ppl oredi shared yesterday la......now oredi become past news if no more good news also hard to sustain the price later...dont ask ppl to chase high for it which i wait for years only can released....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Seek
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Posted by Seek > 2020-07-02 09:57 | Report Abuse
Jess, issue at what price?