North American Gem Inc V.NAG

The only idiot here is

[thebeerman]

Me for not selling my long held shares at .60 when they were there. This stock is going nowhere. I am not a basher just a long time shareholder observer. Did anyone read the whole news release like this part? 
Both Engle Hollow Mining and Kentucky Mine Power have agreed to a fixed cost per ton of coal mined. This will allow North American Gem to control costs and more accurately project earnings. NAG expects to have a monthly coal production level of approximately 10,000 net tons, given each auger can produce 4,000-6,000 net tons per month. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable.  Read the last line. Why are they trying to buy up tiny seams and fast track production that they dont even know if it will be viable??? Why are they not trying to drill and prove up the great "adamus" or whatever discovery. I have been a shareholder for nearly 2 yrs, and this company is one of the biggest scams I think I've seen yet. Don't worry Charles knows exactly how to milk the system, and I'm convinced that is all he's doing, yet He's the hero for fast tracking production, even tho its not going to be viable. If it was viable, why didnt someone else already do it? The only thing I have truely found here is, obviously I am not the only really gullible person here. I hope this great fast tracked production pumps the share price so I can get my cash out and put it into a real "coal" prospect, not this slow dying pos.

[coal4life]

I think many people would agree with the frustration of watching this go to .60 and back to where we are now.$0However, 10,000 net tones is from what NAG calls mine#1.  There is still mine#2, West Virginia, Blue Gem, and profit from the washing station (washing others coal to meet specifications from clients) Why not give this some more time, heck most have waited this long, why not see how

[thebeerman]

Yes , Coal , I know what you are trying to say, but who would do something like this other than someone trying to prove they can make something out of nothing and probably end up with nothing. How many "quality" companies out there would fast track a project like this with whopping coal seams of what 1 meter thickness and then to boot put in their news release " The

[dhruve]

This post has been removed in accordance with Community Policy

[likeslt]

Beerman, I don't think you are an idiot. The idiots are the "small boring heads", in that game, the "big boring heads" take "small boring heads" money. Anyway, I think it sounds like a gamble: no feasibility study, paying a fixed cost to the mining operators, no matter what happens, with or without coal in the ground. A feasibility study is definitely necessary

[sumosalar]

I too have been duped. I too hope that this Kentucky venture will raise the SP so that I too can escape the inescapable end result.