Norseman Gold Share Discussion Threads

[skidaddle] 19/9/2012 11:52

Well it was bad last time.

[alchemy30] 19/9/2012 11:51

I'll take a random at bad !

[giant steps] 19/9/2012 11:51

Good or bad ? (watching)

[warpedone] 19/9/2012 11:46

!!!!


AIM

19 September 2012

NOTICE

19/09/2012 11:45am

TEMPORARY SUSPENSION OF TRADING ON AIM

NORSEMAN GOLD PLC

At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 19/09/2012 at 11:45am pending an announcement.

Ordinary Shares of 1.25p each (B2N7FW8)(GB00B2N7FW85)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7796 8800.

This information is provided by RNS

The company news service from the London Stock Exchange

END

[richgit] 19/9/2012 10:15

All the information is there to read-about funds raised.

[monis] 19/9/2012 10:12

How much cash do they approx have, how much do they owe and do they need to raise money?

[monis] 19/9/2012 09:47

what are the risks here?

[noirua] 19/9/2012 07:57

Gold price is consistently pushing onwards and upwards and this alone augers well for Norseman as they bring more mines on-stream this quarter.
Heading for 80k Au oz, lower costs and rising gold puts NGL in a better position, week by week.

[noirua] 17/9/2012 13:27

Pushed down a lot on Tulla passing over a stock interest option at 4c (2.62p) a share. With a firmer gold price NGL provide an interesting gamble.

[noirua] 12/9/2012 19:15

gold stocks starting to show signs of life - www.thebull.com.au

[noirua] 12/9/2012 11:04

Bullish gold moves on to the target $2100 per oz.
IF NGL achieve 80k oz production per annum at target $1050 per ounce costs THEN gold profits will reach, at gold $1750 per oz, $56 million.

[hellisreal] 10/9/2012 19:33

Do i don't i buy two penneth worths here?? That is the Q.

[noirua] 07/9/2012 14:21

Gold hits $1,727 on target for $2,100, richgit. The best bail out NGL could possibly have with the Aussie$ reversing.

Probably the best bet gold stock around with the risk package to go with it. Target with gold at $2,100 is probably only in the 4p - 5p range until production starts to move to 60 - 80k oz Au - good luck.

[richgit] 06/9/2012 11:37

Noirua

Before I took my stake and added,I read through virtually all the BB posts from
January 2011 to get a feel for how the nightmare developed,and how gradually losing control of the situation ,staffing,development etc etc was like a deck of cards with finally a gamble on the answer as maybe opposed to any real
control which seemed totally lost.

An expansion too far without a backup plan,and then final carnage.

I doubt there is such a History of such failure,and the litter of such huge
investment still around ,for any Gold situation I could imagine.

Of course it wasn`t like that previously when things were going very nicely,
yet all went pear shaped later (obviously)

Maloney inherits the litter of such vast investment that remains,and arguably
there cannot be so much to learn from-anywhere.

If there was ever any logic in arguing that such history of failure could be the guide to future success-then Maloney has it at His feet,along with more
Gold around than so many can dream of.

He obviously knows that,and I guess I wouldn`t be backing anyone else to now
pull it around,so the risk/reward is simply backing His reputation,yet
lets hope the Chinese get the OK as that will add another very interesting
Dimension.

[noirua] 06/9/2012 10:15

Gold price is pushing past $1,700 per oz with a weakening Aussie$ -- both bullish for NGL. Forecasts for $2,100 an oz in the States and Doctor Faber sees $400 rise to the same figure.
If Norseman reach the 80k oz target that would add $32 million to profits -- a gamble no doubt as the gold bugs come out from cover.

[richgit] 05/9/2012 09:03

Lol.

Yes-Sheds for possible Mansions.

[264091] 05/9/2012 00:19

Ah I see RG, you're managing a Special Situations Fund?

[richgit] 04/9/2012 23:17

P3dr036

It`s a game that has its risks as you will know with MML,
which despite its fall is still valued at £620Million as it has the belief of the market it will get back on track.

CEY went from a 6p- maybe- stock to £2Billion at one point.

So the rewards are there for the £30Million valued basket cases,like NGL & VGM
with substantial Gold in the ground...................
............if their Managements can get to grips with their problems.

I confess I wouldn`t have bowled in for VGM yet,if it wasn`t for the recent
Chinese investor news,and NLG is a pure risk/reward now on Maloney,yet if
the Chinese investment takes place that adds to the situation.

So my Garden shed is doing the rounds,as there is nothing I would bet the house on,nor anything held on Margin.

[p3dr036] 04/9/2012 22:40

It's the unit of moonshine!!! [Though I assume it was mant to read £15GBP [GB rounds] Which is even more unbelievable thN MOONSHINE!

[juju44] 04/9/2012 21:21

what is $15GBP ???????

[richgit] 04/9/2012 20:30

Lol.


I have even added VGM to my current £30Million Market Cap "producers"
OMI-NLG & VGM.

VGM & NLG being recent basket cases yet both attracting the Chinese !!

So whilst I have others at "non-producing stages"or far bigger market Caps,
the upside of £30Million MKT cap producers is a risk/reward in the percentages game from arguably a petty cash valuation.

Both NLG & VGM could,if thing start to go right,easily get into the £3-400 Million Mkt cap league with their large amounts of Gold in the ground,and I think Maloney will succeed once He has all His select team .

In time of course.



Norseman Gold (LON:NGL, ASX:NGX) has been upgraded to a strong buy at HeffCap www.hefffcap.com with a 2015 price target of $15GBP issued today by Economist Shayne Heffernan.

Norseman Gold plc is an AIM and ASX listed gold production and exploration company. Its key asset is the Norseman Project, which lies at the southern extent of the Norseman-Wiluna Greenstone Belt in the Eastern Goldfields Province of the Yilgarn Block, Western Australia.

The Norseman Project is operated and managed by resource specialist, Tulla Resources Group Pty Ltd, which is focussed on producing 100,000 ounces of gold per annum by 2014 and increasing the resource base, currently standing at 3.4 million ounces of gold at an average grade of 4.7g/t. A review of operations is currently underway aimed at maximising future production and reducing costs.

The Norseman Project offers a plethora of project opportunities at all stages of development including three previously operating underground mines, Bullen, OK and Crown, which may be brought back into production in the future. The wider project area provides signi fi cant potential for other high-grade gold mines to be developed. Considerable data has already been amassed and a number of new targets generated. Exploration programmes are ongoing.

The potential for magnetite iron ore also exists within sediment hosted iron formations of the Noganyer Formation. Very little iron ore exploration has occurred at Norseman and the little that has taken place was invariably in conjunction with gold exploration. The fact that there are thousands of metres of geological logging records and drill core available ready for assessment together with stored historic pulp drill samples means that the time to development would be considerably shorter than for a conventional iron ore project.

Kevin Maloney is the new executive chairman cementing closer ties with the Australian entrepreneur's Tulla Resources.

As well as being a significant shareholder in the AIM-listed group, Tulla has also taken over the running of the Norseman Mine, Australia's longest continuously operating gold operation.

Maloney created and built The MAC Services Group, a mining services company, which he sold for $650 million in 2010, and has reinvested the proceeds from his 52 per cent stake in a portfolio of assets which span mining (mainly copper and gold), transportation and IT.

He also owns the Segenhoe racehorse stud, which aims to emulate the bloodstock success of John Magnier and his Coolmore operation in Ireland.

Whether it is breeding the next Derby winner, or reviving the fortunes of a former thoroughbred gold mine, the recipe for success is the same, according to Maloney.

"It is a process," he explained in an interview with Proactive Investors. "You can't get away from the fact that if you do it right, get the process right, you won't run into a lot of surprises."

The Tulla team is in the throes of putting the right processes in place at Norseman.

In doing so it is recruiting the best qualified senior personnel and is acquiring the correct equipment to do a proper job.

This attention to detail is vitally important as it will give Tulla a granular understanding of the underground and open pit operations.

This is something the previous management lacked.

As a result, Norseman had a penchant for surprises – both in terms of gold grade and production – and not the good, positive variety.

Maloney, however, is not unduly and openly critical of the previous regime.

He is focused on the here and now – getting the production up to 100-120,000 ounces a year and costs below the magic $1,000 an ounce.

And judging from the last investor update, team Tulla is enjoying some success.

The production target is achievable in the next year, Maloney said, while Norseman is on course to hit its cost target in the "next three months or so".

Passing these two milestones creates a hugely cash generative operation. However, this is not the ultimate goal.

The project, which covers 2,360 square kilometres of Western Australia's Norseman-Wiluna greenstone belt, ultimately has the potential to be a 3-400,000 ounce a year gold producer, Maloney reckons.

When, slightly incredulous, I question this assertion, he produces a map of the Norseman area peppered with former producing pits whose potential has barely been tapped by previous excavation.

In fact, he reveals there is around 80 years-worth of data that has been digitized that requires sifting to unearth multiple potential targets.

The plan after doing this is to find an initial two new potential open pits that would run alongside an underground mine, giving the balanced mix of production.

The current resource of 3.4 million ounces hints at the huge potential of the Norseman ground.

"We are all about the future. We are not going to worry unduly about the past," said Maloney.

"Norseman has one of the best futures as a major gold producing area.

[264091] 04/9/2012 11:48

RG, where will you put the lawnmower, or will that have to go too?

[noirua] 03/9/2012 15:21

I doubt all these figures in the Report, out today, matter that much at all now, as said already, it's a story well known.
NGL just need to show they are GENUINELY on the way to achieving 80k oz Au and a gold move to the AU$1,900 range (US$2,000) - if you believe this is achievably then buy the stock, if not, steer clear.