up 55% today, page-3

I hope 2012 is good for NME but I don't believe it as yet. Its speculative as to which way this one will go. With cost margins at $1250 a oz its at the high end.

With Gold around $1600AUD that gives NME a comfort zone of $350/oz. $350/oz isn't a lot of buffer if grades aren't there as expected. Or if the area cops flooding from a rain bearing depression after a cyclone in the NW.

This one isn't home yet. If we can get the expected positive cash flow then we are in a much safer place. If we don't, the option of turning to the market, via a placement is IMO out of the question taking into consideration that the take up from the last placement was very poor indeed.

Companies, especially junior gold companies transitioning into producers are at a critical and vulnerable stage. Experience has taught me to be realistic with these types of investments and not overly optimistic.