Some volume going through. However, it is in wrong direction... A capital raising is inevitable but they always have been. Further, there still seems to be some market disconnect.
I mean, on the one hand you have JG going through the motions of getting Merlin into production, albeit extremely slowly. Whether it be with Legend taking its stake, working on a DFS, doing extra drilling, wanting to change the name to Merlin Diamonds etc – JG seems to be committed.
Then on the other hand, you are looking at a low - moderate grade diamond mine which would probably not be economic using conventional mining methods. Which is probably why they have been looking at extra drilling and alternate technologies. Not to mention, JG's somewhat colorful past.
Where is Midas when you need him?
NAD Price at posting:
16.0¢ Sentiment: None Disclosure: Held
