Noble Mineral Exploration (TSXV: NOB) is extremely undervalued at $0.055 per share.
NOB has 236.216 million shares outstanding for a market cap of CAD$13 million.
NOB owns 2,913,000 Canada Nickel Company (TSXV: CNC) shares. CNC gained by 7.91% on Friday to $1.50 per share. NOB's CNC shares are worth $4.37 million.
NOB owns 19,500,000 Spruce Ridge Resources (TSXV: SHL) shares. SHL gained by 14.29% on Friday to $0.08 per share. NOB's SHL shares are worth $1.56 million.
NOB's CNC + SHL shares are worth $5.93 million.
The rest of NOB is only being valued at $7.07 million.
NOB currently owns 100% of the Mann Township Nickel Properties being explored by CNC. After CNC completes their spending requirements and exercises their 80/20 Joint Venture deal, NOB will retain a 20% stake in the Mann Township Properties.
Last week, CNC announced drilling results for 4 new drill holes at Mann Northwest extending the strike length to 2.7km with a confirmed width of 500m. All 3 drill holes in the main Mann Northwest Section intersected long intercepts of nickel of 355.1m up to 390m. A drill hole testing the Mann Northwest extension area also intercepted 395.1m of nickel, but we don't know how long this strike length will be.
The first six drill holes at Mann Central all intersected long intercepts of nickel of 306m up to 539.8m. CNC has established an initial strike length at Mann Central of 2.5km with a confirmed width of 600m.
The Mann Township Properties will be the main focus of CNC drilling moving forward.
It looks like these will become the largest nickel resources of CNC and potentially the largest in the world.
CNC has a market cap of $269.3 million.
$269.3 million X 20% = $53.86 million
NOB is receiving less than $7.07 million in value for the 20% of the Mann Township properties it will own!
Based on NOB's current share price, 100% of the Mann Township Properties are being valued at less than $35.35 million when these properties together have potential to contain the largest nickel resource in the world!
NOB also owns 2% NSR royalties in CNC's Mahaffy, MacDiarmid, and Bradburn Nickel Projects!
If these three 2% NSR royalties are worth only $1 million each, NOB is only receiving less than $4.07 million in value for the 20% of the Mann Township properties it will own! Based on NOB's current share price, 100% of the Mann Township Properties are being valued at less than $20.35 million when these properties together have potential to contain the largest nickel resource in the world!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from NOB of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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