RE: coal indexCoal is hot, but we have not seen the frenzy that we saw in the summer of 2008 ... oil hit about $150 then and coal followed suit fiercely ... Teck was in the picture and GXS hit some pretty nice holes ... We could see it again, but I think we will have to wait a few months ... and probably not the hysteria we once saw ... but still will be good. NAG is having difficulties right now:
1. M3 still mining at mine #2 under bankruptcy protection. NAG trying to stop that to get new contractor on board for both mine #2 and mine #3... Once that happens, i think the s/p will perk up.
2. NAG raised funds to drill Sask. That should happen in the next few months too...
3. Remember mine #4? Still in the permitting process ... should be complete in then next few months too ...
4. GXS has been silent for a while ... when that lion roars, things might start to move up too .. SMI has shown strength ...
5. NAG still has LL and they own W. Virginia as well .... maybe something will happen there too
Lots on the go. I'm not pumping. The potential is still there ... I really hope the stars align and NAG has some smooth sailing in the future ... Its a spec play, lots of risk but the rewards could be good too ...
P.S. -- Basher Mike I said I have close to 1 million shares and yes every penny dropped is costing me thousands in paper losses ... I have other investments on the go where I'm making bundles!! So, worst case scenario i take NAG as a tax loss ...
Remember folks when I was telling this BB about SCG when it was in the teens???? YUP, I still hold a significant amount of shares there. Remember when I was touting INT?? Yup, I made a bundle there ... I was in RFD when it went from .03 to over .15 ... I was in PPI early too ... So, folks, don't worry about me -- I'm doing OK.
NAG is a hold and wait for me as I think it's still got potential. NAG's luck has to change sometime!!