Firstly, why put equipment on site before the rest of the financing is in place and the Mine Closure Plan is approved. Once this happens I would only expect the generators to be in place and that will not happen until the gas line is built. So equipment on site likely May june 2014.
The share price is another story, Dec 31 433,000 shares short Jan 15 420,000 shares short. The holders of the short position are having trouble getting shares to cover.
M y opinion is that they are short at about an average price of $1.15 they of course need to drive the price down in order to cover. So how is this accomplished.
Quite simple Mr A shorts 10K shares hoping to cover at a lower price. Ooops price goes the other way then Mr A's brokerage calls and tells him he must cover or they will cover for him. Well Mr A has a friend say Mr Z and Mr A buys shares from Mr. Z and Mr A has now covered his position..........
Only problem with this is that Mr Z is now short and there will be a time when he will need to cover and on and on it goes.............
To further prove this theory just look at the volume of NGC that traded between Jan 1 and Jan 15 of this year (roughly 5.3 million on Toronto only plus whatever in the States) with the 5.3 million shares that traded the short position was only reduced by 13,000 shares.
The short sellers are having difficulty covering their position. Just a theory and I am not complaining about short sellers just trying to offer a possible explanation.