Norseman Gold Share Discussion Threads

[richgit] 31/10/2012 12:35

If Maloney is having them drooling over all the History
and considered multiple potential Hot Spots for overall growth,with
an illuminated sign flashing $10000 oz,then He could pull it off
with the Chinese.

After what has just happened with Centamin,at least so far Norseman
is in the right place with th eright Gold numbers even if they are proving
a little elusive to dig out,but then at $3000 oz plus- some shovels and spades may suffice (LOL).

If so - from taking my base case stance I daresay I will certainly
be buying once we know the deal.

Nice thought for now-until the facts are "facts".

[richgit] 30/10/2012 18:06

Elban.

If the above I posted has any truth,then they have until
Mid December for enlightening us.

Let`s hope Gold has broken away from the current manipulative
shackles by then creating a better sentiment for Gold stocks.

If it is also true about the directive to Banks from January,then
maybe buying positions will overwhelm by then,in readiness,

If some do demand repatriation of their Gold ,as Chavez has done,
there just could be all sorts of panic buying.

As seemingly all Opec members misleadingly at least doubled their
true Oil reserve estimates,do some Central Banks lease out far more
Gold than they truly own ?

I suspect some certainly did.

Interesting times.

[ad1967mc] 30/10/2012 14:23

We're talking predominantly low grade material here. 4 weeks isn't enough time for the under performing North Royal pit to have produced a significant amount of high grade ore. Although NGL may be cash positive, I doubt it's sufficient to pay down creditors. In which case they need to come to a deal, which in all likelihood will be highly dilutive to existing investors.

[chartview] 30/10/2012 12:08

It's great news that the Mill is operational again and with all the paydirt they have stockpilled we could see some production at last.

[ad1967mc] 30/10/2012 11:19

Multiple shifts on the mill. A lot of the workforce at North Royal was outsourced to earth moving contractors.

[richgit] 30/10/2012 11:17

ad1967mc.

If they have closed North Royal with the loss of 30 jobs,then
what have the other 105 been working on,or will be working on ?

[ad1967mc] 30/10/2012 07:59

Apparently the North Royal pit has been shutdown. The mill is still processing stockpiles and low grade tailings. There's talk of Norseman being restructured, but I expect existing holders will be diluted to oblivion (if it happens at all).

[richgit] 24/10/2012 09:42

PS

If the new Banking rule is set in stone in January,then
NGL and all other Aim Gold producers just need to hang on-until then.

I am certainly holding as many Gold producers as possible for that event,and
currently hope it becomes fact.

[richgit] 24/10/2012 08:28

ad1976mc


It`s all about timing and of course I Haven`t a clue.

The seeds are certainly set for the potentials of Gold far beyond $2000 oz

I wonder where all the Pysical Gold will come from of the assumed January
event of Banks taking Gold on board,as there could at some point be no Physical Gold left.
It certainly cannot come from current World production
levels considering the already huge amounts being hoovered up
by the likes of China Russia Mexico etc etc etc.

Nobody will be able to continue manipulating mere paper contract IOU`s in such an event of paper
against actual Phsyical available,which must be a looming crunch already.


It depends on whether Maloney sees that future and indeed we all know that
even the likes of NGL in worst case format could produce at profit at certain
levels,and of course Mr Cahill would have emerged as Hero
whatever the situation ,had the Gold price been at future
"possible" levels.

The luck of timing so often is the case.

Any true shortages in the future of physical Gold and NGL`s Gold would
be worth a huge sum to anyone that believes they can Mine it,as where would
there be such immense resource available in a non-political risk etc
Country as Australia anwhere in the World - up for grabs ?

I merely cross fingers they can keep things ticking over until that probable
inevitability.

Any format that can keep NGL alive until then ?!

[mojomonkey] 23/10/2012 16:34

Thanks Hellisreal, your name is how I feel some-days looking at my Portfolio!

I will have a look at CNR, all my accessible funds are in SLME at present, just waiting for the official RNS about the current play, which was being re-drilled as a gas well that turns out to actually be a re-charged (after 25 years since last worked) Oil well. One of SLMEs partners on the well, Worthington Energy have already announced the oil well status and results of the first flow test.

The US company does not have to follow the same rules as AIM ones so their CEO has been blabbing on his website and allowed PIs to load up in SLME before the news is official.

SLME jumped about 40% a couple of weeks ago when this was known but has since drifted back to 12p ish. I am in at an average of 10.5p and the target short term, when the RNS from SLME confirms the oil status and flows, I hope along with a lot of others to see between 22p and 25p. Nice :-)

[hellisreal] 23/10/2012 12:35

Mojo

Plenty gone side ways this year and quite a few down. Sold my downers(which continued down after I sold) and put it into a rising CNR which is still waiting on potentially more good news.

[tsmith2] 23/10/2012 11:47

thanks ad1967mc

meant whether they were now enjoying success with North Royal..

[mojomonkey] 23/10/2012 11:23

Not looked in here for a long time, whats the general feeling? Are we all getting zero for our shares if they ever trade again?

I have picked some crackers over the last year, This - Suspended, Game - bust, Gold Oil - Suspended And BEH - Suspended ATM but for good reasons, a RTO.

I have come to the conclusion that this coming year my trading fortunes will be much better, they could hardly be worse than this year............................

ETA Oh I forgot DLM, price collapsed after strange, sort of take it private, deal.

[ad1967mc] 23/10/2012 10:42

Unfortunately it's hard to see a future for NGL right now. Even if North Royal does come good, the mine life is now too short. Perhaps it could produce enough to pay down some creditors, but how will they fund the next mine? Indeed what will be the next mine? I can see few credible options.

This is how old mine complexes like Norseman die. They run into operating difficulties, the capex and exploration gets cut. So even if the company survives, the lack of investment catches up and there's nowhere else to go. Long-term the only hope is for some startlingly good exploration results, but the company lacks the resources to do this and although there's plenty of possible targets, few can provide the potential near-term tonnage, low costs and decent grade that NGL desperately need.

My guess is that it will be all over by Christmas. I just hope I'm proved wrong.

[tsmith2] 23/10/2012 09:14

ad1967mc
5 Oct'12 - 10:05 - 201 of 216


Supposedly everything still rides on North Royal. Tulla think that they've identified the reasons for its massive under performance. It's possible that it could still deliver some decent cashflow, but clearly they're hedging their bets with the administration process. However it will be another couple of months before shareholders find out. Personally I'm skeptical.

any further news/insight? TIA

[noirua] 21/10/2012 23:49

Tulla Group Limited have called in their AU$3 million loan from QMC Limited on 31st October 12. Does not affect NGL but may mean that there is some truth in 'that Tulla are squeezed on loans with Norseman, and to Themac and Altona Mining.'

[richgit] 09/10/2012 09:20

Noirua

The Administrator is only in place as protection for
NLG from remaining Creditors,so they can hand back to the Directors
at any point they see that situation being resolved,whether by Gold production
or Maloney coming up with a Master Plan.

That is in the hands of Mr Maloney and initially Northern Royal,yet more
Mr Maloney at the end of the day.

It would be despairing if they now cannot gradually get to profitable
production at Northern considering they are through to the hard rock
and know the Mine plan was wrong.

If Northern cannot live up to any expectations it becomes a bit of a nonsense
as to what Mine plan can ever work there,whilst Harlequin is at least
a reasonable bet,yet they haven`t estimated the costs (to our knowledge).

The main hope now is that a detailed Masterplan is being formulated
with projections of what could be achievable from all the Gold around,if
Northern disappoints,and the need to attract a third party to that Masterplan

As Maloney said-There is a history as long as your arm
that needs some interpretation,so the hope being any
Chinese looker on would be more comfortable as a partner
to someone that can aid with all the interpretation.

They (Zhaojin or A.N.Other)would only have to be convinced
that 1 mine can be brought into profitable production initially....
We hope it`s Northern yet Harlequin is doable,and We hope
they would prefer the "partnership".


A fortune in Gold that needs Capital to get it produced,so lets
hope Zhaojin are still talking,or Northern finally comes good,as
We can all assume that at $2400-$3200oz someone will have the
answers from such near extinct amounts of Gold
just waiting to be Mined.

I will now wait until the next snippets released or rumour.

[hellisreal] 08/10/2012 13:25

Looks very iffy.
In my experience this type of under performing as has happened at NGL with countless hopes dashed,it is nearly always the share holders who lose out in the end. I hope not for holders here I really do, as have been here before several times with like companies.

[noirua] 08/10/2012 13:05

Tulla's $25m loan is of course with Norseman Gold PLC and not Norseman Gold limited. All the workers at Norseman are now signed back over to Norseman Gold Limited from Tulla Group.

The receivers, so it seems, will seek a buyer or buyers for Norseman Gold Limited and the proceeds pass to Norseman Gold PLC.

What happens to the iron ore potential is unclear and whether Norseman Gold Limited would be sold with iron ore and other mineral rights as well as gold. There has been a lot of drilling for iron ore in the past and the costs going forward would be greatly reduced as results are already known from that drilling.

[richgit] 08/10/2012 10:05

TW was influenced by Mr Cahill,who in turn was desperate
to keep the story alive,and no doubt omitted certain further issues.


It is obviously all down to Northern Royal at the moment.

Assuming they fix the fixable and the now known flaw in the Mine plan brings
some better results,then if things look better Mr Maloney
could presumably get a return on charging an interest rate similar to Red Kite with His consolidation of their debt.

He would look to a return on that at a later date if NGL progresses in profitable production from Northern Royal in the shorter term.
.
In such circumstance I presume that could also be an initial negotiating situation to offer Zhaojin or
A.N.Other a piece of the action at some point.

Rosey Tints and conjecture,yet if that could happen and it remained as
Zhaojin then hopefully they could also take up the placing that was
reserved for them which could help towards getting Harlequin back in the fold.

As none of us will know for some time,then all conjecture is just that,and it
is fingers crossed that all the run of bad luck is behind them.

We can but hope there is good news that coincides with a bull run in battered
small Gold stocks,as good news and something to drive the stock price would
be Maloney`s salvation to see his real goals.

At least the stock is in safe mode-until then,with a prayer they eventually offer some goods news about Northern Royal,
as any outlook however reduced, of profitable Gold output would be a sigh
of relief and a base to improve from.

Maloney said it`s like anthing-with a back to basics,the right equipment
and right staff- so we shall see if He still believes that.