<number of shares out and fully diluted for NGT>
After the last PP that raised C$570 they had 16,778,815 shares out. There are warrants and options outstanding of 6,280,083 that are out of the money at prices ranging from 25-35 and go out one-two years. The PP going on right now is for 1.2 million shares @ 15, but now appears to be oversubscribed. Matter located some serious shareholders he is very happy with. The US$420K due to PDG on 10/15 and 12/31 can now be handled. The merger with AAS sounds problematic as Millar's role (he's happily retired, but then again would like to be involved) is up in the air. There are some discussions with several parties about taking the best high grade portion of Estrella (not the rest of Salamandra) into production for a carried interest.
Give Albert Matter a call, he can tell you about the business plan, and could also refer you to his geologist Ian McDonald for geological details.
<Gold Council, Veneroso>
The missing ounces are used up in the paper carry and derivatives trades (I suspect mostly long treasuries, long USD, short gold, a lethal one in the last week). The gold itself may not have really gone anywhere except that it becomes somebody's liability (JP Morgan, Goldman Sachs, Deutsche Bank) and potentially can't be paid back to the CB when one of those institutions blows up, or even if they get credit downgrades (the myth of the AAA credit). |
