chart is looking for a break out , page-7

Wanaland

Given current circumstances, I think the only thing that will result in a lot more interest in NGF is a $50-100 rise in the POG.

A bit further down the track when we get closer to mining the new small underground mine now under construction (which will raise production by 60,000 ounces pa for about 3 years), things should hot up again.

If by some stroke of good fortune the 70,000 ounce per annum hedge were voided then NGF's share price would have a major boost.

Unfortunately for holders, at present NGF is for those who want to accummulate shares in a company with mid to longer term potential rather than those who are looking for a quick dollar. It does not have the excitement that SBM has had (but recently lost).

Under current conditions I would expect NGF to be in the high 30 cents/low 40 cents by late 2009/early 2010, but who knows what the market will do. This is based on the hedge being on-sold by order of the US courts (or Lehman coming out of administration).

Lets hope that POG has a run up above $USD 1000 and stays there.

loki