*Note that Northern Vertex Mining (OTCQX:NHVCF) is extremely illiquid on the OTC market. Investors are encouraged to purchase the shares on the Toronto Venture Exchange (TSE.V: NEE).
Northern Vertex Mining just announced that it has commenced its first exploration program at its Moss Property outside of the main vein system. The company wants to explore 5 potential targets, and CEO Dick Whittington points out that only 5% of the Moss Property has been explored.
While I had pointed out the exploration potential in my June article, I had not anticipated that the company would be moving forward with an exploration program focused outside of the main vein system where its first mine will be built. Exploration is always a gamble, but I like that management is confident enough to deploy resources outside of its mine development program. I think this improves the odds that management is on track to secure financing for its initial mine plan, which is for an incredibly low cost mine in a low-risk mining jurisdiction.
The stock seems to have found a bottom and there appears to be strong technical support around the C$0.25/share - C$0.30/share level. Those who appreciate that this is a low cost mine in a safe jurisdiction, and who don't mind the risk of investing in a company that needs to raise capital and whose initial mine plan is only for 5 years should accumulate shares if they retreat back to this range.
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