Share Name Share Symbol Market Type Share ISIN Share Description
Nextgen Group LSE:NGG London Ordinary Share GB00B7JRYW03 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 78.00p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 1.2 -4.5 0.1 981.0 11.30

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Date Time Title Posts
30/11/201212:53 NextGen Group-AIM biotech minnow334.00
09/3/201207:11NextGen with Charts & News735.00
09/3/201207:09Positive news from NextGen1.00
19/2/201020:02Nextgen43.00
13/12/200914:26New Guinea Gold (TSX:NGG)57.00

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30/3/2012
14:46
gobblehoof2: Hi Bobby To respond to your question - NextGen's share price seems to have gone up on news that it is registering IP for its biomarkers which can diagnose and track the progress of early stage dementia. The news should be on the RNS section of this website if you want to have a look.
21/6/2011
06:47
lady gaga: .5p anyone lol Home Log In Register Our Services My Account Contact Help Stockwatch Level 2 Portfolio Charts Shares Magazine Research Share Price Indices Market Scan Company Zone Traders' Room NewsWatch Trades Terminal Alerts Stock Screener Heatmaps News iPhone Forex Director Deals Investors' Room Credit Cards A-Z of Brokers Directory Bookshop Awards 2011 Mortgages ISAs PLUS Simply Chart Broker Notes Forward Diary You are NOT currently logged in . Keyword Company EPIC/TIDM SEDOL/ISIN Print Tuesday 21 June, 2011 NextGen Group PLC New Assay Launch RNS Number : 7769I NextGen Group PLC 21 June 2011 NextGen Group Plc NextGen Sciences launches multiple protein cerebrospinal fluid (CSF) CNS disease biomarker assay London, UK and Ann Arbor, Michigan, US, 21 June 2011 - NextGen Group plc (AIM:NGG) is pleased to announce that its US-subsidiary NextGen Sciences Inc, a leader in biomarker discovery, measurement and qualification, has launched its first cerebrospinal fluid (CSF) multiple protein (multiplex) assay, csfdiscovery43, for central nervous system (CNS) biomarker discovery and qualification. The assay simultaneously measures 43 human CSF proteins that are thought to have potential as biomarkers in CNS diseases, particularly Alzheimer's, Parkinson's, multiple sclerosis and ALS diseases. The launch of csfdiscovery43 is the next step in NextGen Sciences strategy of becoming a leading player in the growing CNS and oncology biomarker markets. NextGen's assay is based upon its multiple reaction monitoring (MRM) mass spectrometry platform, and generates high quality reproducible data that companies can use in their drug and diagnostic development programmes. In addition to the CNS disease focus, the assay can be used for early-stage biomarker discovery and qualification in other disease areas e.g. traumatic brain injury (TBI). NextGen expects to continue to add proteins to the csfdiscovery43 assay, in addition to developing other disease-focused assay panels, both as proprietary products and with other companies through partnerships and collaborations. Klaus Rosenau, Chairman and CEO of NextGen Group, commented, 'The release of csfdiscovery43 is the next defining step in the development of NextGen Sciences' biomarker business, following its reorganization and release of the plasmadiscovery41 assay in Q1. It demonstrates that we have once again delivered on our plans to develop multiplex protein assays that will help to establish the company as a market leader in biomarker discovery and qualification using its MRM technology. Importantly, this enables us to further target increasing market share from the $600m mass spectrometry based biomarker discovery market. We believe that pharmaceutical, biotechnology and diagnostics companies need high-quality assays relevant to their disease areas to inform their decision-making processes, and NextGen Sciences is currently working on the launch of more such products.' - ENDS - For more information please contact : NextGen Group Klaus Rosenau, Chairman and CEO klaus.rosenau@nextgensciences.com +49 160 551 6756 Seymour Pierce Jonathan Wright, Nicola Marrin +44 (0) 20 7107 8000 Notes to Editors NextGen Sciences Inc (Ann Arbor, MI, USA) is the subsidiary of NextGen Group PLC, London, UK (AIM: NGG). It provides pharmaceutical, biotechnology and diagnostic companies with rapid and quantitative protein biomarker discovery, measurement and qualification services using mass spectrometry technology. With a rise in the industry focus on personalized medicine and cost-effectiveness, biomarkers are playing an increasing important role in drug discovery, development and patient access, as well as healthcare delivery. The global market for biomarkers is expected to grow to $12.8bn by 2012 (BCC Research), with those for neurological disorders ($3.5bn by 2015, Espicom Healthcare) and oncology ($9.5bn by 2014, www.marketsandmarkets.com) playing an important role. NextGen Sciences' products include discovery assays, oncology assays, CNS assays and cardiovascular assays for biomarker discovery and qualification. For more information please visit www.nextgensciences.com. This information is provided by RNS The company news service from the London Stock Exchange END MSCSESFMSFFSEFM Investegate takes no responsibility for the accuracy of the information within the site. The announcements are supplied by the denoted source. Queries about the content of an announcement should be directed to the source. Investegate reserves the right to publish a filtered set of announcements. NAV, EMM/EPT, Rule 8 and FRN Variable Rate Fix announcements are filitered from this site. -------------------------------------------------------------------------------- © 2011 Financial Express. All rights reserved. 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25/5/2011
10:05
lady gaga: Weve got a plug here. It looks like Tom likes us. The discovery that points to biotech's incredible revival... (This article first appeared in Penny Sleuth on 10 February 2011. Penny Sleuth is an unregulated free e-letter written by Tom Bulford and published by MoneyWeek Limited) 2010 was the year of the junior miner. Every week saw some plucky explorer score unbelievable gains. But this year is likely to be different, and I've got my eye on a few other sectors that I think could see fantastic successes in 2011. I've talked about food stocks and the remarkable recovery in UK manufacturing. But one sector that is really beginning to look exciting is biotech. Dormant for years and abandoned by investors as a non-starter, biotech looks to be on the cusp of a thrilling revival. After a string of dramatic announcements in recent months, it seems that investors have discovered a newfound enthusiasm for these stocks. Just look at what happened this week when drug researcher SAREUM HOLDINGS (SAR) revealed news of another exciting breakthrough... The discovery that points to Biotech's extraordinary revival On Monday Dr Tim Mitchell, Chief Executive of the Cambridge based drug researcher, reported that its Aurora+FLT3 Kinase programme had, in a pre-clinical in-vivo study, appeared to slow the progress of cancer. Ten leukaemia patients were treated with this compound and their 'leukaemia regressed to such an extent that no detectable cancer could be found in any of the cases treated'. By contrast for those who did not receive Sareum's compound their leukaemia 'increased five to fifteen fold'. That was enough to send Sareum's share price multiplying. Having drifted along for months at a price of about 0.25p, the shares took off, hitting 1.65p the following day and 4.79p on Wednesday. It has slipped back a little today. But those lucky enough to have been holding the shares and smart enough to have got out at the top could have multiplied their money nineteen-fold in the space of just three days. No less impressive was the extraordinary volume of shares that were traded. On Wednesday 1,142,362,883 Sareum shares were traded, representing over 80% of its entire issued capital, and the excitement spread elsewhere. • Oxford-based PHYSIOMICS (PYC) has developed a simulation platform that can show how a tumour will react to drug exposure. It saw its share price surge from 0.25p to an intra-day high of 0.68p • The US company NEXTGEN (NGG), which offers a suite of services that can increase the traditionally low success rates associated with biomarker development, flew from 0.11p to a high of 0.53p • VALIRX (VAL), which focuses on the epigenomic analysis and treatment of cancer (the epigenome consists of chemical compounds that modify, or mark, the genome in a way that tells it what to do) almost doubled to 0.53p This is an extraordinary revival for a sector that has been languishing for so long that most investors have given it up. But you need to be very careful here... A sector shot through with risk - and scintillating rewards A cure for cancer is the equivalent of finding a river of liquid gold. But still, the biotech industry is fraught with danger. It eats up money, and genuine successes are few and far between. A few years ago high hopes were held for ANTISOMA (ASM), also a company looking for successful cancer drugs. This week it was described as a company 'that develops drugs that do not work'. That's a harsh but fair verdict on a company that has seen its share price sink from 36p to 2.2p over the last twelve months. Those who rushed into Sareum are already being brought face to face with some of the realities of biotech life. Today the company took advantage of the surge of interest to tap shareholders for £500,000, through the sale of 500m new shares at a penny a time. And a more careful reading of Sareum's Monday revelation shows that 'at six weeks following treatment, no detectable cancer could be found in two of the ten examples dosed with the Sareum compound. In the remaining eight treated examples, the average time taken for the leukaemia to increase five-fold was six weeks, compared to two weeks in the untreated cases'. So while Sareum's treatment seems to have some advantages over others, it appears to limit the spread of cancer, rather than kill it off completely. How marvellous it would be if Sareum had a cancer cure! But shareholders should prepare for a long and bumpy ride. Biotech research is a laborious process. While successful developments in this area often improve upon existing therapies, few provide a total cure. In time Sareum will need to find licensing partners, most probably big pharma companies with deep pockets. As big pharma cuts back on its own research spending, it is increasingly looking for small biotechs to do the early work, but the big boys do not move fast.
13/4/2011
09:50
moochy: I agree with your last comment doc. The thing with NGG's share price is that it increased by 600% in a matter of minutes not long ago, which brings out strong emotions in holders and this makes the share price prone to over reaction. Holders now "expect" a repeat of this kind of share price "ping" and as well because not too many shares are out there. I also agree with you in that fund raising is always a possibility. You can never foresee this.
18/2/2011
20:50
sonicx: I've put this info on the other thread it may be of use to any potential investors out there? Just a bit of info for any current holders or prospective buyers of this company: Over the past 8 trading days the share price has risen from 0.12p to 0.42p. Thats a rise of 250% or an average of 30% a day, despite pleas from the company that "they know nothing". The charts and prospects of the rise continuing next week look good, so if you want to get in below 1p, I suggest you bite the bullet and do it, otherwise we may be above 1p before you can blink. If we get some extra positive news in the meantime then anything is possible? p.s. someone on the iii bb mentioned that 85% of the shares are in safe hands and won't be traded. How true that is I don't really know, anyone here know? Cheers and have a nice weekend! sonicx Growth Company Investor spoke to Klaus Rosenau, the German CEO and veteran of a number of German IT concerns. Enthusing that he has 'a lot of contacts' within the investment industry Rosenau remarked on the recent excitement in the AIM biotech sector. 'Biotech is taking off at the moment - this is because those analysing the market as a whole realise that now is probably the best time to jump on the train'... I've found the info and it looks to be true (below) It would seem that as long as the company is progressing nicely, (and there is no reason to doubt this) then there is no reason for the trust fund to sell (family Trust Select) whoever they are? They seem to have held a large chunk of the company for a while anyway. So in reality we (us) pi's have only the 14% left to play about with on a day to day basis. I'm not sure what would happen if an investment fund other than the one listed below wanted a share of the action, now that would be an eye opener I'm sure? I'm seriously considering upping my stake based on this information. The Placing Shares are being subscribed for by Family Trust Select - FIS - Teilfonds Zeus, a Luxembourg fund managed Family Trust Management S.a.r.l. (the "Family Trust Select"). On completion of the Placing, Family Trust Select will hold 82.43 per cent. of the then issued share capital of the Company and if Family Trust Select was to immediately exercise all of the warrants it holds after the Placing, it would hold 89.69 per cent of the then issued share capital of the Company. Also in addition to the above, the CEO would appear to have his head screwed on, and is involved in a number of IT companies, which probably helps the business no end. (you can't put a value on experience and contacts), and I would expect him to have many contacts in this field. A brief summary below: BACKGROUND* Klaus Günter Erich Rosenau serves as Chairman and Chief Executive Officer of OAR Consulting AG and NextGen Sciences Ltd. Mr. Rosenau also serves as Chairman and Chief Executive Officer of Nextgen Group PLC at NextGen Sciences Ltd. He has more than 21 years of experience in development and marketing of innovative technologies. He was engaged in the implementation and development of new technologies in a variety of leadership positions. In 1993, Mr. Rosenau founded OAR Consulting GmbH and led it to a successful IPO in 1998 and created an international operation supplying innovative solutions for information technology. He initiated several mergers and consequently improved the service spectrum of his company. Since 2003, he has supported IT-related companies in the development of their business strategy, financing and project planning. He serves as a Director of OAR Consulting AG . In 2000, his success was honored with the award "finalist entrepreneur of the year.
18/2/2011
19:08
sonicx: Just a bit of info for any current holders or prospective buyers of this company: Over the past 8 trading days the share price has risen from 0.12p to 0.42p. Thats a rise of 250% or an average of 30% a day, despite pleas from the company that "they know nothing". The charts and prospects of the rise continuing next week look good, so if you want to get in below 1p, I suggest you bite the bullet and do it, otherwise we may be above 1p before you can blink. If we get some extra positive news in the meantime then anything is possible? p.s. someone on the iii bb mentioned that 85% of the shares are in safe hands and won't be traded. How true that is I don't really know, anyone here know? Cheers and have a nice weekend! sonicx Growth Company Investor spoke to Klaus Rosenau, the German CEO and veteran of a number of German IT concerns. Enthusing that he has 'a lot of contacts' within the investment industry Rosenau remarked on the recent excitement in the AIM biotech sector. 'Biotech is taking off at the moment - this is because those analysing the market as a whole realise that now is probably the best time to jump on the train'...
16/2/2011
21:35
webster34: Lady Gaga NGG The article quoted the closing price today and the article is dated today. So it was probably written today. "NextGen, like many AIM biotech stocks has recently seen a flurry of activity since the success of Sareum, with the shares having risen 58.3 per cent today to its current price of 0.38p, partially driven by the intense speculation on message boards which have contributed towards the see-saw changes in the share price experienced by many AIM biotech stocks. As a result our recommendation on NextGen Group is on a fundamental and relatively long-term basis, not on the basis of hourly price fluctuations."
16/2/2011
19:04
sonicx: I particularly like this bit: NextGen, like many AIM biotech stocks has recently seen a flurry of activity since the success of Sareum, with the shares having risen 58.3 per cent today to its current price of 0.38p, partially driven by the intense speculation on message boards which have contributed towards the see-saw changes in the share price experienced by many AIM biotech stocks. As a result our recommendation on NextGen Group is on a fundamental and relatively long-term basis, not on the basis of hourly price fluctuations. With the sector as a whole currently experiencing a rerating we believe that NextGen's shares are an appropriate investment as a speculative buy for investors willing to take some risks on the sector, with NextGen in particular looking to have strong prospects operating in a relatively unexcting area of the biotech sector that has for a while been overlooked by many.
17/1/2011
10:50
flyingswan: Nextgen Group (NGG) Chart Breakout and Trading above 200 Day Moving Average: Back Ground Highlights · New business plan written to redefine the product options and align these with market access · Core focus remains on biomarker discovery, assay development and biomarker qualification · Simplification of product mix to focus resource on custom biomarker projects and on developing therapeutically relevant 'assay panels' for biomarker discovery and qualification · New product lines identified for development; Plasma and Cerebrospinal Fluid assay panels for biomarker discovery and qualification · Cerebrospinal Fluid assay panel (19 protein) launched in May 2010 targeting the Central Nervous System market segment and in particular Alzheimer's disease · Plasma panel development initiated with a view to focusing on the Oncology market segment · Multiple biomarker discovery and assay development projects delivered · Sales in the period were $708,831 (2009: $807,769), excluding discontinued operations · Funding of $2.4 million received in the period, $1.3 million through share issues and $1.1 million from convertible loans The Chart appears to have broken out of the long term down trend and a recovery is under way. IMHO Share price now trading above the 200 day moving average.
19/9/2006
22:34
crossfirecssf: ...And so with the run of play it goes. Tediously predictable. Further finance required, a further 3 month delay to Sinivit, now almost fully two years behind original schedule (and I'll say it now), gauranteed further (not "significant", whatever that means) delays to be announced in January. Super! New Guinea Gold wants warrantholders to exercise 2006-09-19 15:08 ET - News Release Mr. R.D. McNeil reports SHAREHOLDER UPDATE - SEPTEMBER 2006 New Guinea Gold Corp. is providing an update on its exploration and development activities in Papua New Guinea. Sinivit mine development The Sinivit gold project experienced further delays due to unseasonable weather. In late August, over a two-day period, 350 millimetres (14 inches) of rain fell, followed by several days when 50 millimetres (two inches) was recorded each day. This weather set the schedule back about three weeks. On the Sept. 13, 2006, a further 320 millimetres (12.8 inches) of rain fell with 150 millimetres (six inches) on Sept. 14. This later rainfall did not resulted in any substantial delays, due to substantial upgrading of all site roads over the past few weeks. Total rainfall for the past year has been more than 200 per cent of average annual rainfall and has been the main reason for delay in project completion. Other stalls in development have been caused by late delivery of equipment due to shipping delays, a consequence of the general pressure on suppliers of mining equipment. For example, the screening plant from Ireland was off-loaded in the Solomon Islands (it is now on-site), the scheduled shipping of the crushing plant to site has now been twice delayed and, in another instance, the cargo was left at the wharf in Brisbane, Australia. Construction capital expenditure is 90 per cent expended and total capital cost to date is approximately $6.5-million. Delays and increases in costs will add approximately $1-million to the original capital estimate. With all equipment at Sinivit by mid-October, with the mining contractor now fully operational and all on-site roads fully operational, the company do not expect further significant delays to the revised schedule below. The development schedule at present is as follows: mine infrastructure, camp etc. -- essentially complete; access road -- complete; mine roads, including haul roads -- essentially complete; maintenance facility -- complete; screening plant, gold recovery circuit, laboratory -- all on-site with erection completed by end of October, 2006; contractor -- all equipment on-site and now assisting in completion of site works, roads, vats etc.; crushing plant expected to be on-site by mid-October, 2006, in place and commissioning to occur during November, 2006; prestripping of the mine will commence in late September, 2006, and waste will initially be used in vat walls; the first two vats should be completed and lined by the end of November; and mining and crushing of ore will commence in December, 2006, with gold production in January, 2006. Exploration Most of NGG's projects already have significant defined mineralization in drillhole and/or trenchs. For details, refer to project descriptions on the company's website. The company's main objective is to increase its resource base as rapidly as possible. At present, three diamond core rigs are being used for resource definition at the Imwauna (100 per cent NGG) and Mt. Penck (60 per cent NGG) projects. Imwauna is within the Normanby property. NI 43-101 compliant resource estimates are targeted for both projects for completion in late 2006 or early 2007. Independent qualified person, Ralph Stagg, visited the Normanby, Sehulea and Mt. Penck properties in preparation for compilation of independent technical reports on those properties. NGG has acquired two further drills which will commence operating at its Sinivit property in early October, 2006, with the objective of increasing the present defined resources. Excellent drill results are being received from both Imwauna and Mt. Penck. Imwauna (Normanby property -- 100 per cent NGG) Resource definition drilling has continued using a single diamond core drill rig. Subject to available finance it is intended to acquire a further drill rig for the project later this year or early 2007. Excellent drill assays have been received since the last update and were reported in Stockwatch on Sept. 13, 2006. In particular, two further holes were drilled into the high-grade zone noted in the last update. Previous intersections into this zone gave best results of six metres at 68 grams per tonne gold, including three metres at 106 grams per tonne gold, and 6.45 metres at 20.9 grams per tonne gold (as reported in Stockwatch on July 26, 2006). In the latest Stockwatch report, the highest gold value so far intersected at Imwauna, of 438 grams per tonne gold, was noted with the best intersections summarized below. All results are available in Stockwatch's report of Sept. 13, 2006. Hole No. From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) IMH 075 56.9 57.7 0.8 52.1 100.0 IMH 076 56.2 57.1 0.9 20.5 50.0 IMH 081 80.8 86.4 5.6 36.2 45.0 including 0.4 438.0 485.0 IMH 084 106.2 108.5 2.3 10.6 30.0 Interval is length downhole and not a true thickness. True thickness is unknown. The Imwauna vein system has been defined at surface over a length of 1.2 kilometres by excavator trenching. Approximately 110 drill holes have now been completed over approximately 850 metres of the 1.2-kilometre system. The vein system with significant gold grades is now known to extend over a vertical interval of at least 200 metres. In the southern end of the system the highest grades and greatest widths are occurring at depths of greater than 50 metres. An additional drill is required to extend the company's knowledge of the system to greater depths. The individual veins within the Imwauna vein system are not planar or linear over long distances. They vary in dip from as low as 50 degrees west to 65 degrees east. In addition veins may bifurcate into two or more veins, substantially vary in thickness and attitude over intervals of less than five metres thus making estimation of true thickness of any intersection uncertain. All data are being compiled into a Surpac model to more accurately assess continuity, attitude and thickness of individual veins. Mt. Penck project (60 per cent NGG) Drilling has proceeded rapidly at the Kavola East prospect at Mt. Penck with 24 holes now completed and results available for 19 holes (including one historic hole). The drilling is defining widespread and multiple zones of lower-grade-disseminated-type gold mineralization with mineralization commencing at surface and traced to a depth of approximately 130 metres at present. Two drill rigs are operating, but in October one rig will be mobilized to drill at the Simuku and Mt. Nakru properties and the remaining rig will continue drilling at Mt. Penck for the remainder of 2006. A total of 18 drill holes since mid-2005 have now been reported and all drill holes intersected several zones of mineralization at greater than 0.5 gram per tonne (see the better intervals shown below, and refer to Stockwatch's report of Sept. 6, 2006, for all results). There appear to be both vertical and horizontal controls to the mineralization and the true thickness of any intersection is not known. EXAMPLES OF BETTER INTERVALS INTERSECTED TO DATE Hole No. From (m) To (m) Length (m) Gold (g/t) MPD 004 0 6 6 3.7 MPD 005 156 160 4 8.0 MPD 006 0 3 3 3.5 27 34 7 2.3 41 61 20 2.3 62 66 4 4.5 MPD 007 0 14 14 2.8 66 70 4 18.7 MPD 008 0 23 23 2.3 52 56 4 2.5 MPD 009 96 100 4 4.0 MPD 011 67 70 3 4.3 75 76 1 16.2 MPD 015 5 12 7 2.3 13 24 11 1.1 MPD 018 10 23 13 2.1 27 33 6 1.9 48 53 5 2.5 DHH 007 18 38 20 2.1 Interval is length downhole and not a true thickness Mt. Nakru (NGG 75 per cent) and Simuku properties (NGG 90 per cent) NGG's strategy is to develop both the Simuku (90 per cent) and Mt. Nakru (75 per cent NGG) copper-gold-molybdenum prospects through to prefeasibility within two years. However, since these are base-metal properties, NGG believes that the value of these properties is not reflected in the company's share price and, in conjunction with its advisers, is examining a number of options to create value and finance the required exploration. Drilling schedule for remainder of 2006 An RC and diamond core rig has been purchased for the Sinivit project, and both should be in operation by early October, also with the objective of defining resources. The drilling schedule for later in 2006, commencing in late October, anticipates several short drill holes to test the molybdenum potential of the surface molybdenum mineralization (73 metres at 0.17 per cent molybdenum in trench) at the Simuku porphyry copper-gold-molybdenum project and possibly five or six holes to test the recently discovered gold in trench (35 metres at 7.2 grams per tonne gold) at the Mt. Nakru porphyry copper-gold project. NGG continues to examine options to enhance the value of these projects for shareholders. NGG also anticipates drilling several holes at the Weioko prospect (Sehulea property NGG 100 per cent) toward the end of the year to ensure compliance with work commitments, using the drill rig presently at Imwauna. Corporate NGG has agreed to an extension to June 30, 2007, for Vangold Resources to spend a further $1.26-million and issue 200,000 common shares to earn a further 25 per cent in the Feni Islands project (EL 1021). Vangold presently owns 50 per cent of the project. The Feni Islands lie within the Lihir corridor, which hosts the world-class porphyry copper-gold deposit at Bougainville and the large gold deposit at Lihir Island (approximately 50 million ounces gold). Fieldwork has resumed at Feni and will target the Dome prospect which occupies approximately one-third of the now extinct central crater on Ambitle Island, the larger of two islands that comprise the Feni Islands. NGG has accepted an offer of seven million Kina (about $3-million (Canadian)) standby credit facility from Bank of South Pacific, the leading Papua New Guinea-based bank, with assets totalling 2.95 billion Kina ($1.3-billion (Canadian)). The line of credit is regarded as "insurance" but could provide required working capital for the company prior to receipt of cash flow. Final documentation is in progress. NGG has approximately $2-million in available cash and would prefer to raise a minimum of $3-million in further capital to finance the following requirements: To provide mine working capital for the Sinivit gold mine for the three- to four-month period of plant commissioning, filling of vats etc, before receipts from gold sales are received which is expected by January, 2007. Due to the processing method there is a three-month period from when mining commences and when the gold is refined and proceeds received. To allow the present exploration program to continue without interruption, and to be expanded by adding a further two drill rigs, until it can be financed from mine cash flow. By October, 2006, the company expects to have four diamond core drill rigs and one RC drill rig working on NGG's three key gold projects and would like to purchase two further drill rigs which would then be operational early in 2007. NGG is requesting warrantholders, in view of the premium between current stock market share price and exercise price of 30 cents, to exercise some or all of their warrants now. If all warrants were exercised it would yield approximately $10.5-million before costs. If sufficient warrantholders exercise the company will not have to consider a further private placement. Exercise of warrants is preferable to the company and, the company believes, shareholders, as it does not increase the fully diluted capital in NGG. A private placement would further increase the fully diluted capital. While management has secured bank-bridging finance, this alternative is less desirable due to the substantial interest rate and security terms that are required. The company regards this bridging finance as "insurance" and may not draw it down unless we have no alternative. The technical data in this release was prepared by or under the supervision of Robert D. McNeil, chief executive officer of New Guinea Gold. Mr. McNeil has an MSc in geology, 44 years mining industry experience, is a fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a qualified person. We seek Safe Harbor. ...yes, so do I.
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