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Michael Gross updates Northern Gold’s Garrison Project

Big Al
June 8, 2012

Al catches up with Michael Gross, Vice President of Exploration for Northern Gold Mining, at the Cambridge House World Resource Investment Conference in Vancouver, B.C. and gets an update on their Garrison Gold Project in northern Ontario, Canada.

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Discussion
10 Comments
    Jun 08, 2012 08:39 AM

    To say Northern Gold has not decreased in value is slighly misleading.
    NGM was about $c .6 a year ago and is now $c .215.
    Also the exact data reported for inferred oz was mis-stated. Quote from report:

    TORONTO, ONTARIO — (Marketwire) — 06/05/12 — NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) (“Northern Gold” or the “Company”) announced today that subsequent to its news release dated April 19th, 2012, it filed the supporting National Instrument 43-101 (“NI 43-101”) Technical Report on SEDAR (www.sedar.com) on June 1, 2012. This Technical Report was prepared for the Company by A.C.A. Howe International Limited. It includes an updated resource estimate, for its Garrcon Gold Deposit, one of two gold deposits at the advanced stage of exploration on the Company’s 100% owned Garrison Gold Property, located 100 km east of Timmins, Ontario.

    NI 43-101 Garrcon Deposit Resource Update (0.3 g/tonne block cutoff grade)

    — MEASURED 604,000 OZ, 17,640,000 TONNES at 1.06 G/TONNE
    — INDICATED 668,000 OZ, 20,830,000 TONNES at 1.00 G/TONNE
    — INFERRED 367,000 OZ, 15,780,000 TONNES at 0.72 G/TONNE

      Jun 08, 2012 08:36 PM

      Hi cfs,

      When I referred to “not decreasing in value I was referring to since I got involved and purchased stock. I was introduced to NGM in February and purchased shares toward the end of that month or early in March.

      That is what I was referring to.

      Appreciate your research.

      Big Al

    Jun 08, 2012 08:48 AM

    Insider trading, however, is very positive (In my opinion):

    Home
    Latest Filings
    Issuer Activity
    Insider Overview

    Latest 10 SEDI filings (by filing date) for NGM.TO

    As of 11:59pm ET June 7th, 2012
    Filing
    Date Transaction
    Date Insider Name Ownership
    Type Securities Nature of transaction # or value acquired or disposed of Unit
    Price
    May 16/12 May 11/12 Szustak, Eric Indirect Ownership Common Shares 10 – Acquisition in the public market 2,500 $0.240

    May 2/12 May 1/12 Moeller, Eric M. Indirect Ownership Common Shares 10 – Acquisition in the public market 9,000 $0.239

    May 1/12 May 1/12 Laxton, Heather Anne Direct Ownership Common Shares 10 – Acquisition in the public market 2,500 $0.215

    May 1/12 May 2/11 Laxton, Heather Anne Direct Ownership Common Shares 00 – Opening Balance-Initial SEDI Report
    May 1/12 Apr 30/12 Shefsky, Martin Direct Ownership Common Shares 10 – Acquisition in the public market 12,500 $0.210

    Apr 27/12 Apr 27/12 Shefsky, Martin Direct Ownership Common Shares 10 – Acquisition in the public market 75,000 $0.210

    Apr 26/12 Apr 25/12 Shefsky, Martin Direct Ownership Common Shares 10 – Acquisition in the public market 3,000 $0.200

    Apr 26/12 Apr 25/12 Shefsky, Martin Direct Ownership Common Shares 10 – Acquisition in the public market 13,500 $0.195

    Apr 25/12 Apr 24/12 Caland, Paul Indirect Ownership Common Shares 10 – Acquisition in the public market 50,000 $0.227

    Apr 24/12 Apr 23/12 Caland, Paul Indirect Ownership Common Shares 10 – Acquisition in the public market 50,000 $0.219

      Jun 08, 2012 08:13 PM

      Amazing what the difference in one word is…Acquisition versus Distribution. Thanks cfs for the update.

        Jun 08, 2012 08:04 PM

        Not only Acquisition instead of disposition, but also five different insiders buying.
        (Not big numbers of shares, perhaps, but unanimity of opinion (putting money where their mouth is) is significant. Plus no dilutions from giving out options.

      Jun 08, 2012 08:37 PM

      That is one of the things that I like about these folks.

      Big Al

    Jun 08, 2012 08:52 AM

    Sorry for double posting above, Big Al….
    My Ipad and your site don’t appreciate my big fingers double clicking I guess!

    Jun 08, 2012 08:04 PM

    I just bought some at us$ .214

      Jun 08, 2012 08:37 PM

      I think that I paid a couple of pennies more.

      Big Al

    Jun 11, 2012 11:40 PM

    Working around the Abitibi is supposed to be great. Doesn’t the government subsidize exploration to the tune of 30 or 40%?