OTCPK:NGMBF - Post by User
Comment by
Durkastanon Jul 28, 2010 1:10pm
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Post# 17303748
RE: RE: All those fools that sold at .15 and .16
RE: RE: All those fools that sold at .15 and .16"It's unbelievable that if we are to begin production on Mine #2, we would be $ 0.20+ today this moment. I just don't get it."
I explained in an earlier post why this is so, but was summarily told to "give my head a shake". I said .13 before .20, but that made me "negative".
The fundamentals of this company HAVE BARELY CHANGED. NAG is producing the SAME amount of coal that it was 2 months ago, although it is making slightly more money for doing so. (Slightly more because it is a higher grade - but 8-10k tons a month is not really material)
Mine #1 is out - Mine #2 is in... the bottom line barely budged.
Anyone who was hoping for this NR to change things was overly optimistic. The market already discounted that news. The only thing that really changed is that management at least proved that they could come through with a promise, late though it was. "A day late and a dollar short" sums this company up quite well.
Mine #3 should be a significant event that gives the SP a permanent lift, at least to the > .20 level. That comes with the caveat that management proves themselves capable of managing mine #2 in the interim without any major hiccups.
Not that we'd know about such hiccups anyway, since their track record of communicating to shareholders is abysmal.