Thanks mogga, I do know the difference, but that was not the...

Thanks mogga, I do know the difference, but that was not the point I was making (please re-read).

Victorian stocks (in general) but particularly gold stocks, don't have much appeal to out of State investors. What I was drawing to in my post was, in this case UML selling its gold plant in Bendigo at a fire sale price. Knowing that in 2006 they successfully raised $50m and stated "Bendigo Mining is developing one of the world's largest and highest-grade new gold projects. The Bendigo Goldfield produced some 22 million ounces of gold over a century of mining, and today is estimated to contain high-grade gold mineralisation of over 11 million ounces beneath the historic workings. Phase 1 production is planned to commence by June 2006 at a rate of 120,000 oz/y and build to 200,000 oz/y after three years.  Full-scale production of 600,000 oz/y is planned to commence in 2011/12."

Then just two years later in 2010, 2 years after production resumed, they stated that they had over $300m of infrastructure at Bendigo (Kangaroo Flat), that they needed further discoveries to extend mine life beyond 2011!

NAG, unfortunately will need to shine to shake off some of the State's, recent bad performers! The history of NAG, in itself, is the best of starts.