RE: Gut Check...Highseas:
I basically agree with you but I'm actually a bit more optimistic and here's why.
NGG states on their website that on 12/31/08 they has $4.3 million Aus. dollars in cash. Forbes West told me that at the 3500 ounce level of production the company is mildly cash flow positive on an operating basis. Consequently, if they make any progress at all from here then they will be actually adding cash to their treasury. Now that assumes that they don't reinvest in more exploration, but that is a separate issue.
Only if they go in the oppositie direction in terms of ounces produced per quarter will they have an issue. Of course that's possible but at the moment they are heading in the right direction. And I have to like the ongoing low diesel fuel prices and lower costs for equipment and so forth.
Finally, I think that if NGG needed additional capital they could now get it. Gold producers have been able to complete private placements recently. NGG shouldn't need any huge amount of capital if they had problems, probably only a few million.
Best of success to all.