Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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anybody have any idea if these might have a value? I see lots of similar questions but no firm answers. I think I have 19,000 of them might be worth a tenner?
I still hold a few shares here (a few after 600 to 1 that is!). I think I have about 129.
Anyway (wonder if anyone will ever read this??) the loss is useful to carry forward. Given that I cant find it on a the HMRC negligible value list, which isn't surprising as it is still 'breathing', I believe from past studies that you can make a CGT loss claim on something that is massively diminished in value, but not yet dead, provided that you take the asset forward at 0 acquisition cost - so that in effect you get could for the full sale proceeds on any future disposal. Can anyone corroborate or contradict this?
Got to go back further than 2012 but I think I had a lot to blame for the share price moving from 1.8p up to 70p. In 2009 I posted a lot on here and bought this right at the bottom. I ramped it like crazy and it got noticed. Small buys flooded in and the price moved up very quickly on no news. There were no lies, just regular factual posts about what the current SP was and how it kept rising.
Sadly for me I'd sold out in tranches with my last sale at well below 20p (I was honest at the time and always said when I was selling) and denied myself what could've been 100k in profit, probably only profiting by £3k
did you evert get an answer about the negligible value ?
Hi beardozer
Have you any information on this - I have looked at the list of negligible shares on the Gov.Uk website and see no sign of it. But then again neither are things like Patisserie Valerie or Sirrius Minerals.
Is the Australian listing active?
Very disappointing!
Tulla Resources returns to the Market next week. Unfortunately, during NGL's absence there's been a 600-1 Share Consolidation which more or less wipes out AIM investors unless I'm missing something.
Norseman Gold has been renamed Tulla Resources and will be listed on the ASX later this year with a possible value of $300m.
The Maloney family will retain a 65% interest. Not sure what that means for marooned AIM investors but anything's better than £0. Can anyone recall what Norseman's Mkt. Cap. was when it delisted? Just hope there hasn't been a share consolidation while it's been away...
restarting processing operations using the existing infrastructure at the Norseman Gold Project in Western Australia....
Will Norseman Gold Plc re-list in 2020???
https://www.proactiveinvestors.com.au/companies/news/906795/pantoro-sets-plan-for-norseman-processing-infrastructure-after-engineering-review-906795.html
PERTH (miningweekly.com) – ASX-listed Pantoro has inked a multimillion-dollar deal to acquire a 50% interest in the Central Norseman gold project (CNGP), in Western Australia.
23 May 2019
Https://m.miningweekly.com/article/pantoro-buys-half-of-central-norseman-gold-project-2019-05-15
29/07/2019 - Pantora Quarterly Report ending 30 June 2019
Https://www.asx.com.au/asxpdf/20190729/pdf/446yrjwzhbgg66.pdf
This has been announced as being in the process of set up. There must be a reason for this? - is it a prelude to re-listing of NGL shares in London and Australia? - hopefully so after all these years. Gold price is heading upward so possibly an investement by a large Chinese gold player?
I hear that NGL may be relisted on AIM and ASX in the near future. Any other intel from anyone?
Agreed. I really thought this was a strange reply and can't for the life of me see what this has got to do with the UK Government ! I'm in Hong Kong and do everything online with HSBC's Expat Sharedealing Service. I'll send them a response later and let you know what, if anything, I get back. Meanwhile, thanks for your reply.
strange but true I don`t and can`t see how this has anything to do with the uk government I didn`t realise they run the uk and Australia stock markets and have the right to make the rules,so what broker did you get this reply from?
Hi all, I emailed my broker a few days ago regarding this debacle and wanted to know if the shares still had some value and/or if they could be transfered to ASX. As a result, I received the following reply:- "Shares in Norseman Gold Plc have been declared of negligible value by the UK government. As such the shares are officially worthless and so would not be transferable to another market. I apologise for any inconvenience this may cause" Strange but true........................
well after trawling through lots of different boards and posts I`m now pretty sure after what I`ve been reading that at the end of the day if you hold shares in a company and it starts trading again you still own those shares no matter what market they are traded on they cannot just be lost,of course its all irrelevant if they don`t start trading again,so the saga continues.
What are brokers for? They take their cut every time we deal but when they're really needed they're useless! "Confirmation from the company" is irrelevant! Either AIM shares can be transferred to the ASX or they can't.
email received today from my broker. Dear Mr xxxxxxx Thank you for your email regarding your shares. Currently we do not have any further information on the situation for Norseman Gold shares. If it is possible to convert these to a listing on the Australian stock excahnge then we would be able to help you with that, however until we are given confirmation from the company that this is possible then we can not say for sure. If it is, then you will receive a subsequent Corporate Action Notice from ourselves letting you know the details and from then you will be able to arrange to convert the shares in your account either by contacting our customer services over the phone or by logging in to your account on line. If you have any other queries please do not hesitate to contact our customer services department on xxxxxxxxxx or reply back to this email. Yours sincerely, xxxxxxxxxxxxxx Customer Services
Thanks for sharing that with us - hopefully all is not lost and AIM shareholders can transfer their holdings to the ASX where, unfortunately, the shares are still suspended. :( This whole business has been a lesson to me i.e. don't put too many eggs in one basket! What seems like a no-brainer can soon turn sour and once you're locked in your money is in suspended animation.
Gary Steinepreis (45) - Non Executive Director Chairman of the Audit committee Wrote to him : I would like a little advice on my options - I am a UK based investor holding shares in a nominee account in Norseman. Today, out of the blue, NGL has been removed from Aim. I hold some shares - what are my options to protect any value that these shares may have? I understand from your nomad that I might be able to change my Aim shares into ASX shares. Is there a mechanism for this and how expensive is it? I am understandably shocked that without any notice the shares are thrown off Aim and are therefore, realistically, of no value. Please advise. Regards, xxxx -------------------------------------------------------------- He replied: Dear xxxx We have been working on the recapitalisation of Norseman since October 2013 and the AIM rules only allow a 6 month suspension before removal. We received a one month extension but due to the on-going work could not comply with the reinstatement requirements. The Company remains listed on the ASX but is suspended but on the basis that we can achieve the reinstatement requirements we will apply to be reinstated on this market. There is a process to transfer your shares into ASX listed shares and there is no cost to do this. I can’t provide any timing at this stage but suggest you keep a watch on the ASX announcements – via the link below http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&allinfo=&asxCode=ngx Regards Gary ------------------------------------ So, that's why Aim pulled the plug; we can't trade our shares unless we transfer them to Asx, which although Gary states 'no cost', there obviously will be quite a few costs around with regard exchange rates and broker charges; they are still suspended on Asx and 'may' get reinstated soon; the link he has kindly provided allows us to see announcements on Asx to check progress. It's pretty well all over but you never know - watch Asx and consult with your broker. Gary Steinpreiss's email address should anyone want it is : gs@ascentcapital.com.au (I couldn't get investors@ngold.com.au quoted in the RNS to work)
Yes, I would agree that NGL now needs to fulfil its potential! It's certainly sitting on a lot of gold - how about a 20p takeover from the Chinese?
No idea mate, I was merely repeating what i had read somewhere. I can however see the benefit (to those who are recieving them) of issuing shares in exchange for working capital. Ok, you and I will have our holding(and share price) diluted, but they would have shares at the diluted price. You see it every other day on aim, and as much as we are no longer listed we are still in that bracket. im relatively happy that we have not gone under, as was a distinct possibility, and quite prepared to salt them away for a year or two and see where we are then.Like you im not holding my breath, but this company should have done much better than it has, setting aside the reasons why it has,nt, it now has the opportunity to fulfill its potential.
Serious losses by big investors? How does issuing more shares help them? We all want our pound of flesh! Let's stick to mining 80,000 ounces of gold per annum @ $300 profit which equates to $24m profit per annum. If the price of gold rockets as I'm expecting it will, NGL will make even more profit. This could be the multi-bagger of all multi-baggers but I'm not holding my breath...
Dilution. Sorry, I should have qualified that statement. That was something I read somewhere as a possible outcome to some serious losses by big investors. They generally want their pound of flesh.