Norseman Gold Share Discussion Threads

[orado] 18/7/2012 15:23

Surely nobody, but nobody follows TW.
He is a total disaster.

[huntie2] 18/7/2012 15:16

jgpgw - if you trust anything that TW says you must be crazy!

[bam bam rubble] 18/7/2012 14:16

Nearing par value of 1.25p so perhaps another consolidation. Without the 5-to-1 back in 2008 NGL would already be a sub-penny dreadful trading at 0.5p with five billion shares

Consolidations are great as they help hide the true extent of shareholder dilution

___55,000,000 total shares issued at Oct 2006 (AIM listing)
__859,300,000 total shares issued at Jun 2009 (ASX listing)
4,961,011,115 total shares issued at Aug 2012

[giant steps] 18/7/2012 14:02

POG A$1524 - hot helping the norseman mission






Recall, ending Q1 Cash was A$11.4m
I assume A$6.1m is restricted for enviro so true balance A$5.3m

Cash 17th July 2012 A$0.9m

[noirua] 18/7/2012 13:25

Well, TW thinks 20p within a year - scenario hauled in for cover. I think Tulla are going for a 51% to 67% holding in NGL/NGX and already plan, forward thinking that is, dumping Norseman stock as soon as possible as they did MAC.
TW can't eat his hat if 20p isn't reached for sure as he's already eaten it on this one.

I would say though, that TW does get some stocks right and this one very eventually, Aurion Energy LSE:AUY/ASX:AUY - ASX:FLX later. This stock was tipped by Uncle Tom on 'Show Me the Money' in 2000 at about 24p (out of a hat that is) and it collapsed in 2002/3 to only 1.5p. I held on and bought more, and ASX:FLX Felix Resources reached the equivalent of A$2.30 (£1.30) (yes an amazing 86 bagger, market cap floored at A$10 million and peaked at A$4.4 billion) in 2008 and was finally taken over by China's Yanzhou Coal Company at £1.00 equivalent and free shares in South Australian Coal SAC worth an additional 20c in 2010.
There you goes, so an opportunity there to have lost a packet or made a fortune.

[delgarcon] 18/7/2012 12:12

Shut up Charles

[charles clore] 18/7/2012 12:09

Has anyone considered the possibility of someone working a tax write-off here?

[giant steps] 18/7/2012 11:56

the stinger

If your target was 8-10p before dilution,
then post dilution a revised target must be 4-5p

All the best with your other choices.

In the meantime folk will watch to see how Maloney makes 100's of millions more !

[the stinger] 18/7/2012 11:52

Giant - That was posted prior to this latest shock!...they were supposed to have sorted all working capital etc out last time!

Good luck anyway.

[giant steps] 18/7/2012 11:24

Perhaps he'll look for acquiring 100% from 4-5p

and then hoping for pog A$2000+ !!


the stinger 15 Jul'12 - 16:51 - 7826 of 7858

Rise to 8-10p on the cards here if the new 24/7 production strategy delivers,,,,all looks promising. Maloney is no fool and has credibility attached to his statements (as well as his cash!).

[the stinger] 18/7/2012 11:18

Yep giant ,,that offer being very low.....good plan really, bring all the bad news out, share price low, dilution, take it over cheap, then make a killing on gold production when done and dusted.... Think about why he's so rich...lol

[juju44] 18/7/2012 11:15

thats how i see it too. good track record and putting up his own cash. no doubt he will use shareholders to make his shedloads but he might just make shedloads for me too

[giant steps] 18/7/2012 11:14

Worth checking the % outcomes

BEFORE: Tulla have 93.168m ords

Retiring the A$8m loan gives additional 200m @ A$0.04

AFTER : they'll be sitting on near 30%, positioned for making an offer

[delgarcon] 18/7/2012 11:10

I've topped up, I don't like the way that Maloney's treated PIs here, but at least the 2.7p placing has been underwritten by Tulla and as such most of the needed cash is secure. It's obvious that the experienced Maloney believes that he's going to make a shedload of money and I for one am with him!

[hectorp] 18/7/2012 11:07

Well, I go along with Tom W's sentiments this time.
I will be adding more stock too. Balance sheet, output, etc , all will seem very clear and positive, heading to a 100% GUARANTEED doubler ( absolute minumum) later in the year or within 6 months, either way. Few offer such security in this sector
( rejoinder - we don't want gold below 1500).
At $2000 gold this could be six to eight times this price.

[juju44] 18/7/2012 11:00

bottom now

[giant steps] 18/7/2012 10:47

It certainly is flick a coin outcome here, but Maloney is clearly
backing it with real money. As ever, an interesting story to watch.

[the stinger] 18/7/2012 10:42

ad1967mc

Spot on really, no shareholder value here as Maloney is going to take over NGL by dilution. On the very cheap!

See it coming a mile away...

[ad1967mc] 18/7/2012 10:39

Chartview -> All of them are people who came to Norseman with good reputations and long successful track records. They did make some mistakes, but to pin all the blame on them is to brush under the rug the uncomfortable fact that ultimately it is the tired old Norseman mines that are fundamentally the problem.

The cash cost sounds good, but it's the total costs that matters. If L2 can keep the capex under control, then NGL can recover. If not, all that free cashflow will simply be consumed opening the next mine and so on as NGL continues to struggle in a hand to mouth existence.

[the stinger] 18/7/2012 10:28

1.5p here,,,eventually. Tulla would have a lot to prove before any rise now, and effectively own the coy now anyway. How can shareholder value be created with near a billion shares in issue!!.

[chartview] 18/7/2012 10:22

ad1967mc - I totally agree with your post however I would question your last line about "noted industry personalities" are these not the people (idiots) who got NGL into the mess it's in now?

However I think we should now look at this going forward and as Maloney recently said "We are all about the future. We are not going to worry unduly about the past"

The key here is to stop worrying about what happened in the past and look at the potential - c80kOz and a cost of $1kOz in the next twelve months!