Mining Through Uncertainty

Foreclosure Inventory Nevada 60,000 50,000 56,028 40,000 30,000 20,000 10,000 3,781 0 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Source: Mortgage Bankers' Association NEVADA MINING THROUGH UNCERTAINTY 111 APPLIED ANALYSIS Mining Association

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