The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Gold Price $1595.24 up $25.18 AT 15:08
http://www.proactiveinvestors.co.uk/companies/news/45496/Norseman-Gold-has-%22great-future%22-says-new-chairman-Maloney-as-he-spells-out-plans-45496.html I have been in and out of this Share over the years but now happy to be back in today.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.
Nigel - that's what I call this share. I do believe the new management IS going to turn this thing around!
interview with Kevin about 45 mins ago with proactive investor, im guessing that this will start the PR machine going again after a long quiet spell. Based on my research again today i see very little downside at this price and compared to the valuation and geography i feel it represent a great recovery stock in the months to come as always DYOR http://www.proactiveinvestors.co.uk/companies/news/45496/Norseman-Gold-has-%22great-future%22-says-new-chairman-Maloney-as-he-spells-out-plans-45496.html
Norseman Gold Plc (LON:NGL) announced the appointment of Mr Kevin Maloney as Executive Chairman to the Board. Mr Maloney is Chairman of the Tulla Resources Group of companies, which has now invested significantly in Norseman through direct funding through shares and convertible loan notes and also with the introduction of its associated company, L2 Project Management - Norseman Pty Ltd, as the manager and operator of the Norseman Gold Project.
I've just increased my holding by 200% so I think it is. I noticed that AR. is up 8% today and a Top Riser - their Mkt Cap is £310m and they're producing 140k ounces. Whereas NGL is valued at £14m and they're hoping to produce 100k ounces. I realise that costs come into it but even so... If the price of gold rockets NGL is more highly geared than AR.
not sure..... if i recall they were pulling it out at a cost not far from the sale price during the times when barry was MD. Tulla mentioned in a statement that they had reduced costs significantly through a restructure. D&G steinepreis seem to have guaged the sale of thir shares in 2010 well selling at 40p before the big drop. they have both spent £400k on shares in the last few months paying 4p. i wouldnt put my house on it but it seems set for better days.
Goldenboy - I've just got to hold, but I like to the sound of your research/logic.
Ive been looking at this for a while. According to the research that ive done the net assets of NG are worth 13p ps. Its now being run by people who seem to know what they are doing. 80k oz is due to be produced this year. They have made significant reductions in the cost of production from $1300 last year. Gold prices have increased. Therefore based on this and my gut instinct i feel that anytime now this is going to start to climb rapidly. DYOR but im getting in here now.
Gotta give the new team a good chance. The old one was digging out gold at a loss. The shares were issued @ 3.9p and warrants exercisable @ 12p. what's not to like? Gotta hold for another 6 months minimum, and it shouldn't really matter where this goes on paper in the meantime. Buying opportunity if it slips(not for me I've no cash) IMO
it s not about of warrents, they have to improve production rate, i mean to reduce production cost, they should be transparent and even inform shareholders on monthly basis
It seems like this share is hitting new lows as each day pases; like it was born to be shorted. Those smart enough to have done so a year ago are now laughing each time this trainwreck nudges a point or 10 closer to zero. Hindsight is a beautiful thing
Issuing new shares will not raise the share price..... Solid results will. We need this mine to start turning out gold again
If those warrants are ever going to be executed, we'd have a 4-bagger by April 2015 at the latest. Patience.
regards the issue of shares & warrants to Tulla & Roseberry. 64,000,000 shares @ 3.9p - 32,000,000 warrants @ 12p by April 2015 - shows these boys think it's NOT going down the plughole. Patience for at least another 6-12 months for recovery IMO.
I agree the company has problems but my hunch is the new management are putting that behind them and a return to getting the gold out and the osts down is the aim for the next years figures. Hope so anyway!!!
and Bez as CFO - lol
What a joke this company is...... its heading down the preverbial plug hole!!!
Anyone read anything on how much gold ngl likely to produce? Surely if the previous problems are over these are at a discount to nav
My God what a mess of a company, what a mess. Seriously it would make no difference if Shaun Ryder were chief executive. Still holding though as theres not much point selling at such low levels
lse, please amend the directors deals as they are not up to date