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NMC, Inc.
Statement to Shareholders
July 24, 2017

Dear NMC Shareholders,

It has been too long since I have last updated you as I was waiting for something that was newsworthy to report. As you are aware, on June 24, 2015, NMC entered into a Tailings Processing Agreement with a private investment partner in which he provided a Non-refundable deposit to NMC and, more importantly was to fund a special Operations account to search & test for the best method & equipment to process NMC’s tailings in the most profitable & efficient matter.

 

The good news is that the non-refundable portion of the initial deposit was used to retire some debt & to keep us going until we were to begin producing & flowing cash. In addition and according to the agreement, the investor was able to invest enough funds for us to hire an interim project manager & to send large samples to several processing firms which resulted in enough recovery of Gold to be economically viable at the present price.

 

Unfortunately, just as we were to begin purchasing the selected processing equipment on March 15, 2016 our investor could no longer provide the needed funds. Because of his strong desire to remain partners and promises of continued funding, the board of directors granted him extensions which resulted in an Amended Agreement in December, 2016 in which he agreed to give up his First Right of Refusal on our other properties & to begin funding operations no later than December 13, 2016 as well as funding NMC monthly via the purchase of shares at one cent per share. Because he was unable to raise the needed funds to fulfill his commitment, our board decided to officially issue a Default Letter on June 14, 2017 giving him 30 days to make good on his agreement. He failed to meet his obligations, so on July 14, 2017, he was sent the final Letter of Default Notice via Certified mail.

 

Currently, I am in varying stages of negotiations with three other potential Joint Venture partners and one potential buyer. In addition, I have negotiated, and our board has agreed to accept, an outright purchase offer for our tailings. However, that financing has not and may not be raised.

 

Please know that although I experience moments of discouragement , I am not dismayed; but rather, encouraged with the knowledge that our Lord has supplied all of our needs and that it is just like Him to allow or cause us to get to the end of our means and ourselves before He blesses us with a harvest for His glory.

I hope and pray so and covet your prayers as well,

In Your Service,

Michael Sheppard, President
/s/