Northgate NGX on NYSE Message Board

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Gold/Mining/Energy : Northgate NGX on NYSE

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To: Dundee Maples who wrote (5)	11/5/1996 11:39:00 AM
From: George Burdell	of 89

There seems to be steady, if low volume, trading in this company. The price will move 1/16, but then go back to 3/4. There always seems to be 10-20,000 shares traded in the first hour of trading, and then a little more scattered over the day. For a company with no ongoing activity, this seems awfully steady. Of course you have to go back to 1993 for any significant time over $1 per share, or much below the current price. There has been no news since April, and their six month report doesn't indicate anything going on. There are lots of companies trading for less than cash value. I don't know why this one has such support. I would guess it is accumulation, but who knows how long it will be until that is over. I'm watching close enough to buy in if things break out of the pattern, but I'm not buying yet.

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