RE: RE: RE: in conclusionlikesit
Read news release Oct 07, 2009
How effect the drilling of the coals seam is not our concern we are paying a fixed rate to the regional miners that have a long history of efficiently mining these seams, thus controlling our costs.
"Both Engle Hollow Mining and Kentucky Mine Power have agreed to a fixed cost per ton of coal mined. This will allow North American Gem to control costs and more accurately project earnings."
Hope that makes you feel better that our costs are limited and we have highly experienced local miners working on that "narrow" seam getting the maximum amount of coal out of in the fastest manner.
As for GXS
Yes they have 30 + meters or more of thermal coal
- that is under 50 to 100 meters of over burden,
- no NI 43-101 Technical Report,
- no scoping study yet,
- no mining permits in place,
- no approved environmental plans
- and still need 10s of millions of dollars to develop the infrastructure.
Profit from their deposit will be 3 to 5 years away.
Profit from NAG mining starts NOW.
Stampede