Norseman Gold Share Discussion Threads

[noirua] 15/2/2014 22:57

Hopefully the improving gold price will encourage Tulla to continue financing and make a profit from the final gold at Norseman.

[fangorn2] 11/2/2014 12:23

Isnt this an old story Noirua?

Dated 13th January 2014

"The program saw workforce numbers drop from 250 workers to around 70, roster changes made and alterations to its processing plant operations implemented."

[noirua] 11/2/2014 11:30

Following this announcement it was rumoured out of Norseman Town that Tulla appointed a new contractor to run down existing mining. Norseman Gold Limited and Tulla Group are yet to comment.

[marben100] 07/2/2014 21:48

Norseman remains listed on the ASX (for the time being), here: However, the shares are suspended as the company hasn't paid its listing fees.

It's last update (10th Jan) was that it had made 33 staff redundant and was considering its options in relation to "the current remnant mining program".

IMO shareholders should not expect to receive anything from this, seems to be on its last legs.

Mark

[noirua] 28/1/2014 20:09

Gold is so difficult to move Germany could only get 30% of their gold from Fort Knox in seven years. Thus it would be 2038 before it was all in Germany.

China is thought to have continued buying gold as it fell in price. Probably doubling their gold since 2009.

I think interest rates will rise making gold less attractive to hold, even though some countries will carry on buying it.

On Norseman, I expect them to become a small explorer and the weak Aussie$ should improve profits as they rundown their last gold reserves. Tulla should have enough clout to bring in speculative cash.

[richgit] 25/1/2014 19:24

Noirua

Having followed the whole Gold story since 1999 I will have a friendly bet
that you will be very wrong.

Too many confuse Paper Gold with Physical Gold and I believe that very big
mistake will drive Gold to its true value because of demand for Physical.

Based on events since 1999 there is little to stop Gold going through $1800,
yet it wont happen Tommorrow or next week - yet it will happen.

They will really struggle to maintain a ludicrous 100-1 leverage to Fake paper Gold as the fractional reserve is now at dangerous lows.

Considering that Germany alone is owed 3000 tonnes as the West runs out of all
Gold that hasn't already been leased,The Manipulators are running out of ammunition for the price suppressions.

If any others demand their leased Gold back it will be an end Game of huge
defaults

[noirua] 15/1/2014 11:43

10/01/2014 -- Staff numbers have been reduced by 33.

[noirua] 30/12/2013 23:07

I take a contrary view and think the USA will continue to grow with less and less pumped into the economy. After all, we will, I think, just return to varying booms and busts.
As to gold, companies are mining higher grades now and a gold price between $1,100 and $1300 per oz is likely most of 2014. The US$ looks like remaining strong and the Au$ may trade AU$1.10 down to AU$1.25 in 2014 adding further Aussie dollars an oz.
So cheaper gold in US$ terms, on average, and about the same in AU$s.

[richgit] 29/12/2013 23:30

It would be nice to be a part of :-


108 Mining leases
10 exploration licences
53 prospecting licences
15 miscellaneous licences
Commissioned Justin Osborne of OzEx Conculting Pty Ltd to undertake comprehensive Review.
Identified 4 key exploration areas for a potential transformational new discovery


Preliminary drill programmes already designed
Next steps (subject to funding)
Put in place an experienced and dedicated exploration team


Let`s hope.

[noirua] 29/12/2013 18:03

I have looked through the position of Norseman Gold PLC and there is no doubt that without Tulla the whole shooting match would be over by now and would be left on boot hill.

Chairman Kevin Maloney is obviously a very tough resilient cookie. Involvement currently with Altona Mining and Themac Resources, proves he is able to turn things round but Norseman must be the toughest so far for him, me thinks. Mac Group was the great success.

It looks now as if all the old mines must close in 2014 and even if one trails on a bit, that is that. The machinery is old and the curtain comes down - the fat lady will sing.

Some drilling will take place I'm sure but those loans look nasty at $33 million or thereabouts. So immediate success is needed and as the company says, little real exploration has taken place for a longtime.

Maybe Tulla has in mind setting up a new company with no debt and allowing these loan notes to be converted into shares, or tough, the lenders lose the lot. Shareholders of Norseman wont get much but maybe a small stake in a new outfit -- if it ever happens that is.

[noirua] 23/12/2013 22:19

http://www.asx.com.au/asxpdf/20131220/pdf/42lsdv3z4p302k.pdf

Basically, all mining finishes by April 2014 at Bullen, Harlequin and North Royal.
11,000oz gold left at Harlequin from the crown pillar. May continue if more gold found.

Gold sold 1 July to 20 December 2013 is 6,757 ounces for $9,489,464 gross. $1,404.39 per ounce.
Workforce reduced from 250 to 70+.

Plant goes on care and maintenance during 2014.

Future possibilities: Phoenix historic tailings and iron ore potential on CNGC tenements.

Audit for FYE June 2013 being carried out.

PLC and CNGC are in breach of all security. Farrer Place $15m, Tulla $10m and UK note holders £5,087,000.

[malex] 23/12/2013 21:26

Not sure this tells us much :

[noirua] 02/12/2013 22:16

Let's hope. Tulla are doing the best for themselves and if it helps us as well its a favourable accident.
Reports are that Aussie companies are mining higher grades and leaving the lower grades for the future.

[richgit] 01/12/2013 16:25

noirua

Let`s cross fingers they can keep it on life support,as 2014 is going to
be the year the Bullion Fraudsters lose control of the fake Gold market.


IMHO

[noirua] 27/11/2013 22:49

Notice of Annual General Meeting and Explanatory Statement:


Norseman Gold PLC retains its ASX membership but the stock market quote remains suspended.

[juju44] 03/11/2013 21:31

is this over now ?

[noirua] 04/10/2013 00:28

OPERATIONS UPDATE 1/10/2013

Operations Update


Operations Update ASX

[peawacks] 18/9/2013 23:15

Sentiment going the other way, but with no confidence, so you never know !

[noirua] 18/9/2013 23:10

Hopefully there will be a run up in the gold price to at least AU$1,800 per ounce. This looks the minimum price required to make Norseman Gold profitable.

[noirua] 10/9/2013 00:06

Operations Update:

[noirua] 10/9/2013 00:05

Financial Statement