What a steal!!!!!!!!!NGG has no debt and about $9 million in cash and will reach full production of 35,000 oz of gold by Oct/07.
Cash costs are just $120 per oz, due to the very high grades of the open pit Sinivit mine.
That is the lowest cash costs of any gold mine that I am aware of, and means that NGG can make lots of money even at POG of $450.
But, gold will go up in price over the next few months.
You must ignore this short-term weakness, as it is largely due to hedge funds etc liquidating their metals, including gold, to cover margin calls and their other equity losses.
Longer term, the USD will almost certainly weaken as the FED will now be expe4cted to cut rates. That will push the POG over the $700 level by Xmas.
With 2 more advanced gold deposits about ready for scoping studies and with 2 exceptional spin-offs later this year, at these prices NGG is a steal..