London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Placing shares being rinsed imho ready for another tranche at who knows what price?? Guess I should have outed these before the inevitable.. I wonder what happened to the £1 million they raised earlier this year to start production?? Probably down one of those many holes they seem so keen on drilling!! If you got gold medals for drilling holes we would be top of the leader board. lölölöl Noricum Gold Limited, the European focused base and precious metals exploration and development company, is pleased to announce that it has raised £1 million by way of a placing of 1,250,000,000 new ordinary shares of no par value in the capital of the Company ('the Placing Shares'), with new and existing shareholders and Directors in the Company, at a price of 0.08 pence per Placing Share ('the Placing'). The funds raised will enable the Company to develop early stage production opportunities potentially as early as Q3 2016 from two starter pits identified at the Tsitel Sopeli and Kvemo Bolnisi project areas ('the Project Areas') located within the broader 861 sq km Bolnisi Copper-Gold Project in the Republic of Georgia. The Project Areas have been identified due to the presence of high-grade outcropping secondary quartzite gold mineralisation and the close proximity to the operating Madneuli and Sakdrisi mines and its associated heap leach operations, which are owned by the Company's local partner. Further announcements regarding the Company's production plans and targets will be made in due course.
Well VX, I can buy at 0.13 on IG, and still can. Have you tried a dummy trade? Presumably not. And for what it's worth I'm not invested, so no agenda.
currently RSP platform has Bid 0.13003 Ask 0.1300
the ask is absolutely NOT at 13. the bid is at .13. so that shoots down that attempt to convince people that there are buyers here. I'd say all sells...even the ones showing blue. hardly surprising that people are dumping and running here. the fantasy has been shattered. it seems it was just another story to encourage buyers without any substantive prospect of realisation
Leaving aside the arguments for and against, interesting that the ask is currently at 0.13, so presumably plenty of the trades showing as sells are actually buys. No trades below 0.13 as yet so who knows what the real bid is.
http://guffsturdpolish.com/ Maybe this is where all the money is going
You mean to say they've picked another country where they can't (don't have to) do any work during the Australian summer. I mean European winter? what's the skiing like in Georgia? Any good?
You ought to stop being offensive to people with your veiled insults. I'd have thought you would have been warned about it by now. Seems you just can't help yourself in the same way you can't understand basic English and accuse people of making threats when clearly they haven't. #deleteYourAccount
They raised funds on the back of production in Q3 and then looked for an excuse as to why that couldn't happen. The story they came up with is that there is 'possibly' a larger resource. This will need further drilling. I think there will need to be further placings to 'explore' the larger resource, fund the earn in to the David Garedji resource plus all the company admin costs. Some believe the story, some don't. But further funding is nailed on which will impact the share price. Production, if it ever happens, will be unlikely to at least May/June given the harsh winter in Georgia. It will be interesting to see if the share price can hold up.
If they had it would have backed up all this years hype and for once they would have delivered on a promise.. Now all it leaves is a nasty taste in the mouth and more suspicion as whether they will ever mine one grain of gold or copper!! Investor confidence would have been restored and people would have bought in, now many wont touch this with a stick.. They should have delivered a Jorc at Rötgülden and didn't.. I guess the old adage rings true "you cant polish a türd"..
In a way NMG is a big lump of juicy resources attracting some bad bacteria.
you must be right then. NMG should of gone ahead with the small starter pits and ignored the potential 70mt resource? it should have gone ahead with a tiny operation instead of looking at putting a much much larger asset into production? how does that make sense?
No, I think we are both just fed up how this is being played out. It's been ramped for ages and looks like it is ripe for a fall, due to lack of confidence in the BoD and the inevitable placing to fund more drilling and admin costs
Do you mean "desperation" rather than something that sounds like an indigestion tablet?? Have held back from posting views here for a while given all the information is out there upon our beloved leader, but you know something the way we have been deceived in the recent RNS finally got my goat.. All year he has banged on about Q3 production and then slips it under the carpet along with the other fantasy stories.. No doubt another cash call coming.. !!
how panda and andy are working in tandem....no?
It's a hard winter in Georgia so I don't suppose we'll see any production until next summer. I'd be surprised if NMG doesn't need another placing by then given the annual administration costs and cost if new drilling.
sounding a bit desperate. Many directors hold positions on many many companies.
https://companycheck.co.uk/director/909367752/MR-GREGORY-KUENZEL/summary 9 current directorships, 9 resigned directorships and 9 closed directorships.. Mr. Gregory Kuenzel, also known as Greg, ACA, serves as the Chief Executive Officer and Managing Director of Noricum Gold Limited. Mr. Kuenzel serves as a Secretary of Alecto Energy plc. He served as a Secretary of Alecto Minerals plc until February 19, 2013. He served as Group Accountant of Atlantic Coal plc since September 2010. He served as the Finance Director of Alecto Energy plc until September 2010. He has many years of experience in providing accounting and corporate advice in a diverse range of industry sectors including mining and resource development in the UK, USA and Australia. He served as the Finance Director and Company Secretary of Atlantic Coal plc until September 24, 2010. He served as Company Secretary of Cue Energy plc and Summit Resources Plc. Mr. Kuenzel served in advisory positions in the Audit and Corporate Services division of an internationally affiliated accounting firm, where he specialized in the resource and venture capital sectors. He served in a senior finance position in the London office of Thomson Scientific. He serves as a Director of Cordillera Resources plc. He has been a Non-Executive Director of Charles Street Capital Plc since June 30, 2010. He serves as a Non Executive Director at FinnAust Mining Plc. Mr. Kuenzel has been an Executive Director at Noricum Gold Limited since October 10, 2010. He serves as a Director of Claridge House Services Limited and Freeside Limited. He serves as a Director of Gold Mining Company Limited. He served as Non Executive Director of Centurion Resources Plc (formerly Sweet China Plc.) since June 30, 2010. He served as a Non Executive Director of Strat Aero Plc until July 7, 2016. He served as Director of Noricum Gold Limited Prior to Reverse Merger with Kibe Investments No2 Limited. He served as an Executive Director of Atlantic Coal plc until September 24, 2010 and served as its Non Executive Director since November 2007.
its about solidifying the business relationship with the JV partner. Yes Martyn has worked in Georgia for a number of years and that is why the JV partner was willing to work with Martyn and NMG. Its a process as it always is in business. Build the trust, earn an option, show them what you can do, sign a business deal. Pretty simple. Where do you think deals come from???? there is always a subsidairy with assets in that companies buy to take a stake in something. Its normal business. Protects both sides of the transactions! So no, no change of structure, just a change in the registered interests in an asset. Which is what it is. I have spoken to a few people who are very close to this project. Hows your armchair and keyboard?
Also the company structure didn't change. Noricum just bought 100% of GMC which holds a 50% stake in Bolnisi so I wouldn't give your story much credibility. Who told you that, Greg?
Martyn Churchouse(MC) and Michael Johnson were shareholders of GMC, the company that Noricum bought their 50% stake in Bolnisi from. So MC has been working with the Russian for a while so I am not sure why he needs to build up trust. How much do you think MC & MJ paid for the stake in GMC (which was later acquired by NMG)? The answer is probably bugger all.
Aaaaahhh its all clear now.. Silly me.. Maybe they should spend a little more time winning the trust of shareholders who pay their salaries rather than brown nosing an oligarch.. I hope you are right as the Russians can get quite upset when somebody tries to turn them over.. !!
The reason why NMg have this opp is clear. The russian JV partner has a requirement to employ local employees. By JV'ing with NMG they by pass this rule as then NMG can dictate who is employed. All business. The JV partner has ot just handed this over to NMG. NMG have had to earn the JV partner respect and trust. Martyn Churchouse has been out in Georgia for many years now building that trust up. The starter pits were designed as an oppurtunity to show the JV partner what NMG can do and then the JV partner would open up the resource licences more to NMG if they are happy. The JV partner is extremely happy and NMG are far exceeding what they hoped - hence the addition of the David Garedji Mine to the NMG stable. The ceo of the JV partner is actually a very wealthy retail magnate and is not so much up to verse in mining. He has had to rely on the Georgian workforce prior to NMG. To give you an insight into how things were bieng worked, NMG looked at the data prepared by them so far and quickly identified several below average practices. For instance the IP units bieng used were actually farm grade and only scanned to a depth of 40 meters. They therefore didnt know much beyond 40 meters. When assaying they were assaying for only one target mineral. Totally missing some minerals. Copper gets mined comercialy in Georgia for much less than a 1% grade. DYOR!!! spouting random rubbish
It's also revealing that Greg has not managed to gain any support from institutions. If the data was really that good, institutions would be queuing up to get involved. But in reality it's probably just a good story to suck in small personal investors.