RE: mine 2 reportAs per previous news release, the management could not wait last time evenif they sold only shovels of coal (this was followed by a pp at 0.12, andfurther reduced pp at 0.08 because no one wanted it). But we all know now thatthe production is premature.
August 23,2010: North American Gem Inc.(NAG) (TSX-V symbol: NAG) reports that, further to its news release datedAugust 4th announcing the commencement of mining at the North American Gem #2Mine, it has now begun to ship and sell the coal. Kentucky Mine Partners LLC (KMP)is performing the mining operations.
Why is themanagement so quite this time? How is M3 doing now? Is M3 very committed to newmines under circumstances of thin coal seams but high initial cost? Is M3making money? The bondposted to Mine#3 is just $29,800 (the management stole the money which would otherwise be used for bond ), and its current status is ND (no disturbance) as SMIS recorded. Maybeanother pp is required to post the bond in order to ramp up the production. Newssoon?
Shellfish