OTCPK:NGMBF - Post by User
Comment by
Durkastanon Jul 06, 2010 9:59am
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Post# 17246408
RE: RE: RE: RE: RE: RE: RE: re: Kentucky SMIS
RE: RE: RE: RE: RE: RE: RE: re: Kentucky SMISWeird, my last post ended up completely blank. :/
I'm selling if we even get around 0.20. I've all but completely lost my faith in the management. There are warning bells going off all over the place. I bought in around 0.15 because I saw fundamental value, but unfortunately this was a lesson in how talk is cheap. At this point, the only reason I haven't sold is because I believe that I can at least break even on a technical rally.
Management has had plenty of opportunities to prove their commitment to this company, and I've held out hope for several months, but it's clear to me now that they are either unable or unwilling to rise to the task. It wasn't even useful voting the proxy to vote for change, because there was no alternative given for Charles. ("Withhold" is not the option I would have liked to have seen)
100,000 tonnes a year is a pipe dream as far as I'm concerned. If we even are producing half of that by year-end, I'll buy you a beer and run naked down Bay Street.
By the way, the way that the materials complex is imploding right now, especially coal and copper, it's going to take 100,000 tonnes a year just to give us the same valuation that we would have had with 50,000 tonnes a year just 2 months ago. Check out the charts of our "competition" WTN.TO and GCE.TO.
Face it, this is a dog.