OTCPK:NGMBF - Post by User
Comment by
Oncourseon Jul 21, 2010 4:45pm
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Post# 17286191
RE: Good Entry Point
RE: Good Entry Point
I also think this is a good entry point as I increased my holdings another 20% in the last few days.
As in my email from the Kentucky Gov. Of Mines will release the permit in the next few days. the equipment is on site as said from a news release
( April 8, 2010: North American Gem Inc. (NAG) (TSX-V symbol: NAG) has reached an agreement to enter into a partnership with Kentucky Mine Partners LLC (KMP), for the mining of NAG's surface mining operations at North American Gem#2 Mine and any newly permitted mines henceforth in the state of Kentucky. KMP has begun mobilizing mining equipment to the newly acquired North American Gem #2 Mine, in Knox County, Kentucky so that immediately upon completion of the permit transfer to NAG the mining equipment and infrastructure will be in place to begin production immediately.)
Also we can produce 16000-20000 tons a month and we have contracts for the Blue Gem Coal.
(Upon completion of the transfer, the mine will immediately resume production at a rate of 8-10,000 tons per month with the capability of doubling that production rate should favorable market conditions warrant.)
We should be back to a producer by next week and yes I agree we should be 16 cents plus but not till next week. We should see some movement Thursday/Friday. IMHO