I see thngs quite differentlyCome to think of it, the extreme negative sentimemnt on this board is probably why I am so bullish on this deal. Its crazy the amount of bantering and the amount of holders who are waiting for this to move up a few cents so that they can blast out their shares.
My take is that this is a jewel in the rough that has been mismanaged - but the key thing here for me was the appointment of Mike Reynolds to the board last August - which coincides with when Cannacord cleaned out about 20 million shares. In case any of you are unaware, Mike is a former hedge fund specialist whose younger brother Paul happens to be the new Cannacord President - the heir to none other than Peter Brown. I dont think that Mike would waste his time if this company was a dud. I think that the smart money is sitting back and waiting for all the lemming to dump their paper to strong hands - a strategy that is obvioulsy working.
One unique aspect of NGG's website is that you can view News Releases that pertain to any one individual project. So if you go to their site and view projects - you will see Sinvit. At the bottom of this page you can view all historical NR's that pertain to Sinvit only. Now note that the last 43-101 on Sinvit was done back in 2006. Check out all the awesome drill results that have occured since the 43-101 resereve report was last done - many of these are Atac like numbers and are world class - and now with the new discovery of the Kavurski zone?? Again, my take is that this deposit is much larger than most think, and the new board has come in to trealize this value.
Then, upon the company announcing that they are improving throughput and starting to make money - I mean come on, many juniors that have net yet defined a resource have caps larger than NGG (about $18 million at 0.09). And we have an ever growing deposit, are making $400 k per month, have shares and marketable securites in all those other projects.. and the list goes on.
Lastly - why is the stock still languishing? Very simple answer - the powers that be are probably still accumulating and they will promote on thier time and when they are ready to. Obvioulsy I believe that they are competent promotors and will have a great story to tell when thed decide that its time to promote. This is why I keep on accumulating and have a few associates that are on the bid as well.
My take is that at present, just on a 10 PE going forward, this stock should be triple its current value, and then you factor in the upside re other assets and incresing orebody - kinda dizzying and probably an easy 10 bagger.
Good luck to all longs.
Jandd