At $16.00 NCM is still trading on about 30 times projected annual income .......thats absurd for a gold stock with inherant risks not only in gold pricing fluctuations but project management .
The stock is probably worth about $6-7 on fundamentals ....and right now the market is questioning all the fizz around this company .......wait for the "excuses" on production targets and cost of extraction to start rolling out over the next few months .
It probably will bounce ...but if it does I reckon its a good short from there .
NCM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
