Well to cut a long story short NGF had a very solid March Quarterly report with major cuts to operating costs and increases in production, they produce around 150,000oz a year and this should increase towards 250,000 by late 2010 once they've brought on a couple of new projects.
Cash levels are very good at $40mil+ and should continue to increase for the FY end, although it's unclear whether the company will book a profit this year after some issues in the first half (high operating costs and failed pits).
Personally I'm a little worried about POG and the exchange rate affecting future income (specifically the coming quarter) but IMHO the company is still a screaming buy at the current price.
There is some risk in hedge contracts the company held with Lehmann Brothers & convertible notes which I won't get into as BH! and others have articulated the situation much better than I can, see their previous posts for details.
DYOR though.
- Forums
- ASX - By Stock
- NGF
- information please
information please, page-2
Featured News
Add NGF (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online