GREY:NWMMF - Post by User
Post by
slick05on May 04, 2011 11:33am
350 Views
Post# 18528851
just chill
just chillMarkets have been down this entire week which is affecting ALL mining stocks.
I wouldn't worry about the gold pours. They are obviously pouring gold or in the process as there is material on the leach pad (it wouldn't make sense to just leave the bulk material on leach for longer than anticipated time as the acid will eat all the gold!).
Right now they are focusing on drilling and expanding reserves - they want to update the reserves asap before year end. Judging by the land package and areas of high gold content, reserves in the range of 1M-1.5M is reasonable.
Since they more than doubled their land footprint, its a given that more money would be required to drill. When the update is announced by end of November, the sp may be in the 30-40's range (go look at Romios Gold as a recent example).
Today is a great day to buy in and hold for the next few months or so.
gl