I rang ngf and checked about the ore grade and costs and their answer seemed reasonable
costs for this quarter included the maintenance etc and was spread out over lower production. Ore grade was only down because of a mining problem with a contractor who is now an excontractor - which meant they used lower grade stockpiles. So next annual review results should be back to usual. I don't understand what the basis is for your concern. If NGF can get gold out for about 600 asssie dollars then should make good profit. Also I doubt their creditors would have forced them to hedge some gold for $770 if they didnt think this figure would be profitable. This quarter is the only one with high costs, apart from that costs have been stable, so I dont see any reason to be negative. But if you know of one please let me know because I have a lot riding on this company.
NGF Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
