Nagambie Resources Ltd V.NAG

Primary Symbol: NGMBF

Metals & Mining Gold

Nagambie Resources Limited is an Australia-based natural resources exploration company. The principal activities of the Company include exploration for, and development of, gold, associated minerals including antimony, and construction materials in Australia, and the investigation and development of waste handling assets. The Company is focused on targeting epitherm alantimony-gold mineralized systems across 3,200 square kilometers of tenements in the Waranga Domain of the Melbourne Structural Zone, in Victoria, Australia. The Company's flagship project is the Antimony-Gold Project, which sits in proximity to the gold-antimony mines at Fosterville (Agnico Eagle) and Costerfield (Mandalay Resources). The Antimony-Gold Project is located at the 100% owned Nagambie Mine. Its Whroo Goldfields project is located approximately 130 kilometers (km) north of Melbourne. It also holds interest in Whroo Project, PASS Project, and Sand Project.

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Nagambie Resources Ltd

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Post by wallywillon Jan 28, 2010 9:40am

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Post# 16727469

3rd auger

The agreement from the Oct news release:

"Both Engle Hollow Mining and Kentucky Mine Power have agreed to a fixed cost per ton of coal mined"

My impression is that there is enough coal to keep 3 augers in operation. Having 3 augers in operation will not cost NAG anymore as it is based on coal procduced and not number of augers used.
A news release clarifing numbers would clear things up.

GLTA
Wallywill

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