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North American Gem Inc V.NAG



TSXV:NAG - Post by User

Comment by Sergeant123on Dec 11, 2010 3:52pm
431 Views
Post# 17834059

RE: Rumor

RE: RumorWell, I will not start a rumour, I can tell you what was told to me on 10 Dec by the IR cell. We are aware that the contracter who mined mine #1, was according to them, not up to the job of mining #2 let alone #3 mine. Hence they are currently completing DD on their part to find a mining company that will fill the billet. I was informed there was 7 companies in the bidding. I asked about the road for #3 mine. It was stated the road was already in, but had to be built up and that once the build up began it would take approx three weeks to complete. I inquered about the cost of the build up and was told that the money has already been set aside for this. No exact time lines were given. IMO this will happen, just a matter of time. I give NAG credit for the foresight of obtaining some nice  properties, the upside could be significant. The question is, does management have the necessary skills  to turn this into a respectable company? Oil will hit $100 + level in the near future. This will give coal the allure to raise it to higher $ values. Merry Christmas to all and a prosperous 2011.
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