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Staying on top of news from Val d`Or area companies.
Northern Star Mining is now trading at $.095. Here is part of there update news release from today:
``Production Plan``
``Northern Star had previously set an objective to achieve production from its Midway and Mackenzie Break deposits by late 2010. This is not a credible objective nor realisable goal this year.``
``Revised Resource Calculation``
``The first priority of the Company will be to deliver a revised resource estimate, in 43-101 format, by no later than December 2010, for each of MacKenzie Break, the Callahan and the Midway deposits. It is estimated this will cost $8,000,000 and will be directed under the leadership of Eddy Canova PGeo.``
``Capital Restructuring and Raising``
``NSM has a current and long term debt balance of over $43 million, fully secured by the Companies assets and payable within fourteen months. Management believes this is an unsustainable obligation considering the stage the Company is at with respect to its production plans. Accordingly, the Company will seek to restructure and reduce its debt in the near future.``
Thank you production05. I didn't get to watch the market yesterday, but I must say that I like the video...looks like some work being accomplished. I could use that soundtrack to get going in the morning! Curious notes in the charts Wednesday on-looks like we're seeing some share accumulation again. Negative bias is off the stock, for now. Have a great weekend!
2 comments:
Staying on top of news from Val d`Or area companies.
Northern Star Mining is now trading at $.095. Here is part of there update news release from today:
``Production Plan``
``Northern Star had previously set an objective to achieve production from its Midway and Mackenzie Break deposits by late 2010. This is not a credible objective nor realisable goal this year.``
``Revised Resource Calculation``
``The first priority of the Company will be to deliver a revised resource estimate, in 43-101 format, by no later than December 2010, for each of MacKenzie Break, the Callahan and the Midway deposits. It is estimated this will cost $8,000,000 and will be directed under the leadership of Eddy Canova PGeo.``
``Capital Restructuring and Raising``
``NSM has a current and long term debt balance of over $43 million, fully secured by the Companies assets and payable within fourteen months. Management believes this is an unsustainable obligation considering the stage the Company is at with respect to its production plans. Accordingly, the Company will seek to restructure and reduce its debt in the near future.``
Thank you production05. I didn't get to watch the market yesterday, but I must say that I like the video...looks like some work being accomplished. I could use that soundtrack to get going in the morning!
Curious notes in the charts Wednesday on-looks like we're seeing some share accumulation again. Negative bias is off the stock, for now.
Have a great weekend!
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