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Bullboard - Stock Discussion Forum North American Gem Inc V.NAG

TSXV:NAG - Post Discussion

North American Gem Inc > Final time to the plate?
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Post by Sergeant123 on Oct 02, 2011 10:08am

Final time to the plate?

I also was told that Louise Lake has been sold. Supposively for a substantial gain + royalties. Mine #2, Gilliam Hill North has 3,700 acres. They state on their web page that they plan to mine 8 - 10 k tons per month. I find these number unrealistic as the auger mining method that will be utilized is slow and painstaking. Mine # 3, Swan Pond is 4,900 acres, now fully permitted and I quote from their webpage "operations will begin as soon as the access road is designed and completed". The access road should have been designed a long time ago as there has been zero mining for a considerable length of time. With the highly mining technique that will be utilized 20 - 25k tons a month seems reasonable. Mine # 4 is supposively close to being fully permitted. Whether mine # 4 is Gillian Hill South with 4,600 acres or Granny Rose with 2,100 acres of strictly blue gem is debated. Money wise I would be jumping all over the blue gem. Time will tell with Sasketchewan drill results. All the ducks seem to be in a row. But, as in the past, all the ducks seemed to be in a row (bases loaded with nobody out), management could not make it happen. I have stated my mistrust for this management team in the past, based purely on it's performance. No sense in becoming emotional, to much energy is lost. Management has repeatdly issued stock options to themselves at a ridiculous price, then ride the wave of hype and cash in, leaving long term investors and PP purchasers hanging in the wind. NAG performance over the past 20 months has been dreadful as we all are aware. Management deserves nothing, until if and when they mould this present mound of duck bile into a swan., Charles is at complete fault and should be removed or simply prove me wrong. That I challenge him to.
Comment by Sergeant123 on Oct 02, 2011 10:17am
Mine#3 meant to state "high wall mining technique", It has been a long morning already, BC time.
Comment by donat50 on Oct 02, 2011 10:44am
Mine #3 access road was in the new way last year .They had 8-9 permits in the wind then .I believe the wind was stronger then they thought and the permit all blew away .Big plans no results.LL was for sale but no takers. Can only hope for Sask.to show some results .Kentucky has been more of a fantastic let down .Blue Gem Coal .Right more like the blues brothers.Have a 100K so I do wish them well ...more  
Comment by nemo3 on Oct 02, 2011 2:08pm
just can't c any circumstances that would allow for nag to make money mining coal in kentucky on these small leftovers. royal coal is another one down in the states...seems better run than nag tho...but they are not making any profit either and they r going after what i call leftover's too. just don't think the leftovers are going to make profit. too small and costing more to ...more  
Comment by Porsche928S4 on Oct 02, 2011 7:33pm
Charles, Archive, Jeannie, Mark, Winnebago Guy, RCIsBack, RCBack would have been buying. No insider activity indicates that these are simply rumours and carry zero substance. I would love to be above to get >50cents on my money back but Charles is a self-centered failure and has no interest in changing investors sentiment.Cheers for a better day.
Comment by Porsche928S4 on Oct 02, 2011 8:09pm
Well written Sergeant,... member since 2009 and no ignores. Are you a current shareholder stuck like myself and frustrated witht the poor management or opting to invest in at .035?Cheers
Comment by Sergeant123 on Oct 02, 2011 11:16pm
I would be not telling the truth if I told you I was not a current share holder, sound a bit like a politician on that one. I did average down at .035 Looking for a way out as I do not see this entity under the current management structure turning a profit.. I bought into this company due to their large land leases in Saskatchewan. All are aware that the prairies use to be the bottom of a great ...more  
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