basically, this company is out of cash...they will have around $900K left in the bank at 30/6/08...
i spoke to NGM a few weeks ago...the guys running this company are quite cluey...however they understand the precariousness of their cash position...they value their Niger tenaments extremely highly...
they dropped the Marsh's Creek project...
my guess is they may seek a JV partner for the Niger tenaments however, at this time, they still cannot explore then due to the political crisis...
seems like where they are in the Phillipines is another political hotbed...not the Phillipnes itself but Mindanao...
Mindanao is a staging ground for groups branded as terrorists such as Abu Sayyaf and Jemaah Islamiyah that undermine moderate organizations such as the Moro National Liberation Front
maybe these guys at NGM are stupider than I first thouhgt...
NGM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
