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You read the yield right. Infuriating isn't it.
Normandy Mount Leyshon is a subsiduary of Normandy.
It is just one mine which has a very limited life (about 2 to 3 years). They don't need to retain profits so they pay a huge div.They are exploring but nothing really appears to be happening there that I am aware of.
The company might be wound up at virtually zero value when the mine runs out but if they discover another ore body they will presumably stick around.
Obviously the price will drop significantly after each dividend payment, it just depends on if it continues to recover or not after.
Personally, I looked at it about six months ago and wasn't prepared to take the risk.
In short - the yield may not be enough to makeup for a potential capital loss.
With a bit of luck and timing you might also end up with the yield and no capital loss.

Hope this helps.
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