The project borders Barrick Gold's Bulyanhulu Mine, one of Tanzania's largest underground gold operations, although mineralization on adjacent properties is not necessarily indicative of mineralization at Tembo. In addition to the defined deposits, the company cited multiple exploration targets where historical drilling and surface sampling have returned elevated gold values. It also noted that most historical drilling across the property has tested depths of less than 200 metres, leaving additional exploration potential both along strike and at depth. The company also expects to advance work associated with the proposed Nyati toll-milling arrangement while prioritizing additional drilling across several exploration targets throughout the property. NEM shares returned 6% year-to-date.The other gold stocks that are favored by hedge funds are Barrick Mining (B), Alamos Gold (AGI), and Iamgold Corporation (IAG).