will nmg survive

Surely when there has been such a significant loss of confidence in a company, some heads need to roll.

NORRIS - you need to go

For the last 18 months, management has promoted the company as being on target and on track when clearly there are significant issues and either they have been extremely incompetent, deliberately misleading at best, or outright lying to the shareholders.

When the company recently said they had proceeded to commissioning. I was under the belief that the plant was finished except for the crusher.

Instead, ongoing announcements continued saying ball mill and sag mill now operational , then the most recent progress report says, carbon regen plant now going, knelson concentrator installed and scats re-crushing circuit and cyanide missing tanks operational.

What else is there to install and what other surprises loom.

Surely if there was any credibility and ethical standards associated with management, shareholders would not be treated as naive fools. No wonder the share price is where it is - IMO there is a complete lack of faith, trust and confidence in management, as an example the recent progress report said work is recommenced on the crusher - what does that mean, are the parts required out of customs, if so why not say so, further to that why not state how the plant is operating and what gold recoveries there are.

IMO it’s because the gold being produced is minimal, could that be due to all the components which are still being finished which shareholders have never been informed about.

They state the crushing circuit is expected to be operational in the September Quarter – from when the progress report was released, that could be up to 3 and a half months away, they previously stated it would be ready by end of June. They also stated they had enough soft ore and levee material to last late into the September Q. It is possible they could run out of ore if the crusher is delayed any further.

I just want to know the truth about the crushing circuit; it has been in limbo for almost 12 months!!, what is the real reason for such a lengthy delay.

I contacted Anne Barker last week Investor Relations Manager for NMG, impressive title, but what a waste of time she was, every question I asked, she said I don't know. She did say she would ask Norris about the issues I had when he returns in 3 weeks, I asked her if she had a phone or email system which worked – fell on deaf ears, so contacting the management will only waste your time.

I think the tea lady has more knowledge than Barker.

Anyway, I hope the investors who participated in the recent share raising through BBY are savage with BBY who in turn will demand answers from NMG.

A BBY analyst came out with a timely report on 20 April saying NMG was worth about 92 cent with a strong buy recommendation, what a lot of crap. Broker reports only reflect the views of the company with no genuine independent research.

Surely the cost to replace the not quite finished plant is more than the cap market of the company.

Perhaps it might be a blessing, if someone were to take over the company and get rid of the current management.