Yeh Mogga, only just. Its riding along the support line, hanging in there.
Chart technicals dont always work from my experience but if they do alot of money can be made.
Personally this share is one of my favourites at the moment as the play dosent really involve mining resources and if all goes ahead as planned we will be rewarded quite well i think.
Im not exactly sure what they have to do to get approval from VIC Gov. but i cant see it being too much.
As it was a mine in the past, i would say there is already plenty of room for trucks to come and go and turn around and more than likely the surface would support heavy loads. They may need to construct a small platform to be able to dump the truck loads of waste into the pits and possibly may need a platform boat with some machinery on board to distribute the waste evenly within the pit. I cant see this costing massive amounts of money.
Of course Safety regulations and ohs etc would have to be considered and delt with.
I would like to see an update of activities from the company that covers the process of applying for approval and if they have discussed their plans with the relevant authorities etc.
For example. Would the epa come and inspect the site and say to the company you need to do this that and the other etc.
Otherwise the directors are obviously very confident of a good result as they have actually tipped in some money and that gives me great confidence.
I just like the share for many reasons and dont loose any sleep holding on to them.
NAG Price at posting:
7.9¢ Sentiment: None Disclosure: Held
