Just a wild predictionI always give people credit if s/he thinks out of the box!
The whole market is really bad. The leader, GXS, & other coal plays are tanking with no sign of immediate recovery.
Charles’ got the Adamas property for just $7500 and some free shares (the amount of shares which he doesn’t really care because the company has already issued many many shares and options). Charles himself has already made way more money than $7500 by selling the option shares.
If buying the coal property is just for the P&D purpose, then, it has already fulfilled its mission.
Now what is the purpose to pay the very expensive permit fees at this market condition? Anyway, the management team clearly know what kind of coal property they have.
In summary, in my opinion, the company could just quit applying the permit. Anyway, charles had made money, so did Adamas.
This is why IR always tell caller they don’t know when NAG will have its permit.
You silly little pumpers, you have been sucked in.