RE: stopped mining ? If you read the latest Management Discussion, as of Sept 30 2011, the company had current asset of 531 k (including 97 k cash) , and yet current liability of 701 k.
Mine#2 still in leagal dispute, and Mine# 3 has recently joined the dispute as well. Also please keep in mind that NAG then aquired lots of coal properties in KY, but these were not much different from option agreement. NAG is losing these properties because it has done too littile in the past.
There is no word on sk coal drilling at the time of the filling (Nov 28 2011). Probably NAG does not have the money to pay the work. Cash should be used to pay the salary with top priority (again, salary + stock based compensation: 600 k this year).
NAG no longer has a good shape. But I couldn't wait to see how this crook CEO further pumps this dead dog.
Shellfish