Nadagold (NG): The trainwreck publishes its YE

RICK!

As usual, Nadagold (NG) gives us a long spiel of a news release and buries the bad news at the bottom where they hope nobody will see it. Yeah sure they lost 42c per share over the year.....they've never cared about that before, so why should they care now?

Nah, here's the real news from the NG presser. Because working capital is running out fast and is not enough to cover its programmed expenditures in 2010, even though they're not mining anything or even making any sort of decision to even build a mine......

Based on anticipated but not committed expenditures on its projects, the Company will require financing within 12 months to meet its expected ongoing requirements, which include funding for work at Donlin Creek, general and administrative expenses, and care and maintenance expenditures at Rock Creek. Under the terms of the revised partnership agreement with Teck, the Company has no near-term funding obligations at Galore Creek. The Company also expects to require significant financing in future years to meet its share of development costs on the Donlin Creek and Galore Creek projects. The Company intends to fund its plan of operations from working capital and the proceeds of financings. Future financings are expected to be obtained through joint ventures, debt financing, convertible debt, exercise of warrants and options, equity financing, production-sharing arrangements or other means. However, there is no assurance that these initiatives will be successful.

Yep, they gonna dilute your tush again...and again.....and again. And just think, this comes just a couple of weeks after arch-scamster Rick! awarded himself $1.48m in options. Know this ridiculous company and the joke management that runs it by its deeds, not its words.