Peter Imhof
Northern Gold Mining
NGM-X
BUY
Aug 29, 2011
Has done everything in what you would expect. At 1.5 million ounces of gold and going to about 2 million. Very cheap valuation per ounces in the ground (around $23). Thinks it is just an undiscovered story.
Small gold exploration company in the Timmins area. Resources indicated about 1 million ounces that doesn't include a lot of drilling they have been doing for the last several months.
Likes the story and always thought they were undervalued. Have a lot of oz but are unloved and need capital to bring it into production. It will take time.
Likes the story. Trades at a very low valuation to gold in the ground and there is a consolidation play here where the new CEO may try to consolidate areas in Timmins. Believes that gold prices are moving up.
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