OTCPK:NGMBF - Post by User
Post by
sandymackayon Apr 03, 2010 1:07pm
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Post# 16953699
MINE summary
MINE summaryI've compiled a list of the current mines/ leases according to the recent NR's for those new to NAG:
1. Mine #1- Jellico seam, already mining approx. 8-10 K tons/month at $16-$18/ton profit
2. Mine #2- most recent aquistion of blue gem coal, fully permitted with transfer expected by mid April. Expected production of 8-10K tons/month with ability to double with favourable market conditions. I suspect purchase came with a buyer and may be announced as soon as contract signed ( IMHO). Blue Gem sells anywhere from $120-160/ ton.
3. Swan Pond ( formerly mine #2)- Drilling underway to prove quality and reserve estimate. Permitting underway and expected by end of April( IMHO). Blue Gem and Jellico seams, will produce at least 25K tons/ month using high-walling.
4. Wynn Hollow- Blue Gem property with drilling completed, permitting process underway. 1.5-2 m coal seam under blue gem seam with low sulfur and high btu content. Will be high-walled at at least 25K tons/ month production.
5. Granny Rose ( Feb. 2nd NR)- Blue Gem property with an average 2 ft thick seam. 250 acres to be auger, surface mined and 100 acres potential to be high-walled.
I hope that shed some light on this GEM of a company. It is highly likely that NAG will be mining the first 3 properties by early summer or sooner!
GLTA