I agree. Costs are reducing and ounces mined each quarter are consistently around the 40,000 mark, so a 150,000 to 160,000 oz calendar year 11 looks quite likely. The first down-payment of $15 million for NGF's Qld coal project should be in the bag (subject to Ministerial approval) by mid- March 2011. (Thank you Mr Tinkler!)
Mine development costs should start to taper-off this year with a more concerted exploration effort in and around the vast tenement acreages surrounding the Paddington mill. Let's hope that the price of gold does the right thing and NGF can retire some "serious" debt in 2011.
Regards,
Goggo
NGF Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held
