a little momentum starts to build and something comes along to derail the train...NGD will be down 5-7% today. My interest in miners is being depleted by the day by events such as reported from Chile. Sometime back I suggested there was something wrong down there; didn't know what it was, and now this .... what does it mean, one wonders....how much of a delay?
1 of 2 things may be going on: 1) Traders are using the El Moro press release to drive down the stock price. (Why isn't GG down big? El Moro is 70% GG.) 2) The NGD earnings report for Wednesday has leaked out and it's horribly bad. The good news is that stockholders only have to wait a couple days to find out the answer. Shorts could be squeezed 20% like AEM was last week.
Indigenous peoples are more and more getting their way in the legal systems of countries, and, though I follow mines and invest in mines, I've never carried any water for mining operations that are going to destroy environments, that is, operations that will in any way effect the habitat of people using their land. I don’t know the case with this news story, except that it’s about habitat destruction. IF it is a matter of poisoning people for money, shame on the miners: we’re decent human beings first, not greedy sociopaths. Put it this way: if you wouldn't drink their water in the future, or live on their land, for what a mine is doing, but would be happy to make a buck from the misery of others, shame on you.
Did it ever occur to you to read the press release rather than hopping on your high horse and moralizing to us? The issues are over an ALLEGED lack of "consultation and compensation" for the local people. It said nothing, zero, nada about habitat destruction. To me, it looks like the sort of extortion used in by tribes in Canada.
By the way, investing in ANY mines or any extractive enterprise by definition entails environmental and habitat disturbance at the very least. While I also prefer to avoid those who are sloppy, incompetent and greedy to the point of endangering the locales and the enterprise itself, to delude yourself that there is any mining without a price is hypocrisy.
Fact not fiction, NGD stock price dropped below $5.00 on similiar news in 2010 regarding the suspension of mining production at El Morro. I view NGD as a fine mining company and was invested prior to the first drop. Buyers beware the pps could go much lower