Trading Halt states: "significant financial transaction" made on Tuesday (18/08/09)
Standstill Agreement with Paladin States: NGM will complete a work program that includes field work and a minimum of 1,500m of drilling.
The Company will not seek or enter any agreements with any other entity on its Niger Concessions, not acquire or dispose of any significant asset or issue further securities, other than those mentioned above for a period of up to 6 months from the date of signing the Agreement or, in any event, until one month after the minimum drilling program is complete, whichever is the longer
NGM completed drilling 1,508 metres on the 26/07/09
So less than one month has passed.
IMHO this ann must involve Paladin which can only have positives for share holders.
Could be wrong we shall see!
NGM Price at posting:
15.5¢ Sentiment: LT Buy Disclosure: Held
