It's Not Over Yet4 Oct 2012 18:09
Comments elsewhere would indicate that shareholders think it's all over for NGL but the fat lady is noticeable by her deafening silence. As I understand it, Central Norseman Gold Corporation is now controlled by an administrator but the directors of NGL intend to resume control in due course. Bizarrely, CNGC's largest creditor is NGL! But I don't see NGL going under (down under?) unless this whole debacle is designed to shaft PIs and line someone's pockets with NGL's valuable assets. What's triggered all this is a cashflow problem which, if corrected, should not destroy NGL. With gold tipped to hit $2400 and NGL hopefully mining 80k ounces @ $1400 per oz. profit the future ought to be bright. $112,000,000 profit per annum is worth having.