North American Gem Inc V.NAG

Read the NR carefully ....

[Saturn4]

Particularly:

"...The Company estimates that it may be able to obtain a prospectingpermit and conduct a drill program on a predetermined area of itsproperty by March 2009. The drill program is expected to be comprisedof several drill holes on three tracts of land within the Bakerstown,Pittsburgh and Elk Lick seams.

Following the prospectingpermits and after exploratory drilling to provide further information,the Company will evaluate its options. Assuming favorable results fromthe exploratory drilling, the Company expects that it could move intoproduction with an initial strip mining operation sometime in 2009,though this timeline will be impacted by the permitting process,weather conditions and delays, obtaining an independent technicalreport showing a mine plan, the price of coal and financial constraints..."

Correct me if I'm wrong, but what the NR says to me is that 1) they will probably get permits and conduct a drill program BEFORE March 2009 ... and 2) After that, it could move into production....

So, if you watch Charles' interview, he says they may be into production by end of 1st quarter (as far as I recall, i did not watch it again, but you can double check), end of 1st quarter is end of March!!  The time lines in the recent NR make sense. 

If my interpretation of the NR is correct, that would mean likely 1) we will get an NR on getting the prospecting permits 2) an NR on the drill program starting 3) results and 4), if all goes well, then NR on production.

If my spec is right, that would probably mean, if the markets are good, including coal price, a nice jump ins/p on each NR...

For all those who think the s/p won't move until summer .... don't get caught .... I'm hoping, and thinking, you guys might be wrong ...  Good luck everyone.

[Kitman60]

Saturn,IMO, the first nine words in your post of the NR excerpt are the most relevent: "...The Company estimates that it may be able to..."Unfortunatey, I think that those words clearly indicate the totally speculative nature about trying to predict any dates for permitting or exploratory drilling.  In my business, if I were to hear one of my suppliers tell me that he "

[Saturn4]

That's a fair comment, Kitman ... NAG has not been very good at getting things done quickly ....  So their estimations may be off ...  but, I'm giving them the benefit of the doubt this time ....  The reason i say that is that certain circumstances were out of their control in particular, i.e., permit office in Sask. (flood of permits there ... although I do not know how

[HHAPPY]

Kitman.Don't compare normal busines to PRs on mining. The words are compliant with BCSE rules that NOTHING can be stated as SURE except for assays. That accounts for the phrasing of the whole PR.

[Kiktyre]

“The Company estimates that it may be able to obtain aprospecting permit and conduct a drill program……” I don’t find the above statement vague, speculative orunusual at all.  Applying for a permit from a governing authority is verydifferent than obtaining a commitment from a business party. The authorityaccepts an application but will never give out any assurance in regard to theissuance

[Loudermilk]

Really, is there any point in selling right now if you don't need the money?  Trading has dried up, we've hit bottom.  Selling on weakness is apparently foolish and winter drilling by GXS or any other company hasn't even started yet.  Coal is still a viable commodity with years of reserves in the ground and the implemantation of 'clean coal' energy production on