RE: OUCH !!!A new miner won’t make money by mining thermal coal in the short and middle terms, because of the low profit margin and the significant initial capital cost. NAG is not an exception.
Before NAG can mine blue gem on a commercial scale, the mines, no matter how many NAG can run at a time, won’t even self-sustain, and yet will represent significant cash drains. On top of that, NAG also needs some $600,000 every three months as working capital for doing nothing meaningful. Accordingly, losing money is likely the main theme of NAG for years to come. No wonder it is a “sell” recommendation by TJ.
It is too bad a decision to put money in NAG. Trying to find a way out before it is too late, but the management kills the run each time.
Shellfish