Additonal Discussion: Financials are outNow that the financial report shows investors that NAG management hascompletely reprioritized the company's focus to become a COAL Productioncompany.
Yes, NAG is focusing on coal mining which reassures me as an investor that management is on the right tract. More importantly, NAG is forcusing on High Wall and Surface seam mining which avoids the dangers of underground accidents like the ones just experienced in Kentucky.
This is another MAJOR advantage in North American mining operations.
NAG is also pursuing the expansion of properties and coming on line fast with it's production, which I believe may be well in excess of it's news releases. If you have a good coal seam (and NAG has several) there is another underlying reality that is not being publicized w.r.t. the type of mining that NAG is focusing upon: And that is the production potential with the correct equipment.
A while back, I began investigating the High Wall coal mining industry in an effort to see what kind of business could be made out of this type of mining...and what kind of company could NAG become. It seems in the past that High Wall seam mining operations were considered to be "smaller scale" in scope. However, I was very surprised on the actual numbers that could be achieved as a result of modern mining techniques and equipment. So, as an example I would like point fellow investors to the following "information video" from TEREX High Wall Mining company.
Watch the whole video because it educates the viewer on the High Wall miningoperation in general. But pay special attention to the amount of people andproduct that can be extract with a single machine (2 minutes into thevideo)
https://www.terexshm.com/terex-shm-highwall-miner-surface-coal-mining-video-standard
Depending on conditions and similar equipment, NAG could be looking at 32,000 to 100,000 tons per month with a single unit as well. Let's hope their next purchase is one of these units because we'll have a serious mining operation on our hands very fast.