RE: RE: in conclusionStampede1, i think you have the right
attitude for a good discussion. Do you think I just post without any serious DD? I DDed and then posted. Unlike Hhappy, he can pump with a blue coal sign on the ebay and telling us that the sign price ($131) is blue coal spot price. Lol, if I was him, I would be so ashamed.
NAG mentioned in its NR that the average coal seam is only 91cm, 3 FT ( in comparison, GXS confirmed that the coal seam has the height of 8 story building, NAG has 3 FT, 3FT not 30 FT). How do we know it is a perfect world that the coal all lays at same elevation and therefore, NAG could mine accurately without missing the target, after all, the seam is too thin. If we miss the target, then it slows down the production rate. 500 ton per day is the target without any miss, if the miss rate is 50%, then we need to dig out 1000 ton per day.
This is the reason that NAG tells shareholders that:
The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. (from Sept.15 NR)