conference call notes* Conference call introduced by Forbes. Stated the key objective was to reassure investors that the company was on track and the recent SP weaknesses was commodities wide and hitting juniors in particular.
*CEO Bob McNeil reiterated Sinivit is on track with August press release.
- 60Kt under leaching
- 1,900 Oz in September
- 6,500 Oz for Q4
- operating cost 550k per month Q2
- Q1 09 2,500-3,000 Oz anticipated production
- Imwauna potentially 3-5M Oz
- economic feasibility study 6 months from now to complete
- resource estimation 9-12 months out from drilling
whole presentation took 9 minutes, questions took another 34 minutes
*Q1 [Jim Kauffman paraphrased] "Does PNG government support development"
*A1 [CEO paraphrased] "Yep"
*Q2 [private inv paraphrased] "I'm scared of a low ball buyout offer"
*A2 [CEO paraphrased] "we are not really interested in selling until Imwauna is a 3-4M Oz resource"
*Q3 [private inv paraphrased] "I hate hedging. You guys gonna hedge?"
*Q3 [CEO paraphrased] "we hate hedging too, no hedging for you"
*Q4[mised who this was] "Is Lehir intersted in buying NGG"
*A4 [CEO paraphrased] "not that we know of"
More to follow