This is what is cratering this stock:

From the 2nd Qtr conference:

http://biz.yahoo.com/prnews/080801/to545...

Investments: Northgate continues to maintain a portion of its investments in auction rate securities (ARS), which are floating rate securities that are marketed by financial institutions with auction reset dates at 7, 28, or 35 day intervals to provide short-term liquidity. All ARS were rated AAA when purchased, pursuant to Northgate's investment policy. Beginning in August 2007, a number of auctions began to fail and the Corporation is currently holding ARS with a par value of $72,600,000, which currently lack liquidity. Northgate's ARS investments were originally structured and marketed by Lehman Brothers, Inc. ("Lehman"), a major US investment bank.


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If NXG recovers their cash - this is $1.20 overnight, and heading back to $3 when gold
recovers (6-12 months imho).

If NXG does not recover their cash - this goes sub .20 cents and potential BK.

That is the ONLY thing we need to hear from IR, or from Management.

Show us the money... end of subject.

[sorry for my dup post earlier, it appears to have gotten lost in the reply pile]