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Re: Andy R post# 16222

Tuesday, 06/20/2006 7:57:57 PM

Tuesday, June 20, 2006 7:57:57 PM

Post# of 19037
They're paying all cash for Pioneer. They may have to raise it somewhat, but it's about 34 mil Canadian right now so can't see it having too much impact on a company the size of NG. I think NG is being hurt more by lack of news and delay in Rock Creek. Permitting is always a slow business. About 6 months ago NG was hoping to potentially start production in early 2007. Now they're saying mid 2007. Rock Creek is only a small part of the overall story, but enough to have an impact here. Also given the Pioneer bid I don't expect any news on Galore until this is finalized. Both Galore and DC should get resource upgrades sometime this year or early next I suspect.


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