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Re: Andy R post# 16419

Monday, 07/24/2006 10:43:18 AM

Monday, July 24, 2006 10:43:18 AM

Post# of 19037
NG hasn't even responded to offer. The offer is too ridiculously cheap. I haven't sold but maybe 5% of my overall shares.

NG has done a lot of drilling of late (last 6-12 months). I would suspect they could release some of these results any day now which alone might justify an even higher price. Most buyout of exploration plays have been anywhere from $40-80 per share. This is definately on the low end and given NG's prospects and mine locations this is an absolutely joke. Rock Creek permits are likely coming soon which would further add value. I think this gets taken out, but more like $18-22 (and that is still too cheap imho). Look what this buyout does for ABX's resources. It's nuts and this is prior to major drill results coming in the next few days/months.
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