FWIW, I thought the drill results were pretty impressive. Grades were very high, 24 of 27 hit greater than 100ppm and they are near to Areva's new 1 billion Euro mine (important for infrastructure).
"Concessions cover 1,500km giving exposure to ~15-20% of available high value ground east of the Arlit Fault" (where Areva is)
Mineralisation close to surface and seeking 35-80 million lbs of high grade. Im not a geologist and they certainly are no EXT but at $30m market cap I think there is a lot of upside.
Personally, I only got into the stock the day PDN announced cap raising but had been watching for 5/6 weeks waiting for a decline. The only reason I didn't 'pull the trigger' earlier was the political situation in Niger. But with PDN's comments, the recent successful raising at 15c and what appears to be a great resource in a sensational U area, I just felt downside was limited... Also, another good thing is that their options are well above the SP. Many juniors have options to be exercised at around current levels or even markedly below as they sought funds in the crisis. All NGM options are at $1 I believe, so if they are to be exercised then we will be well and truly in the money. Only a minor thing but it does suggest confidence...
Good luck table and all holders... Will be monitoring situation closely over next week.
NGM Price at posting:
21.0¢ Sentiment: ST Buy Disclosure: Held
