Member Info for panda1

The company just treats investors like mugs. It was easy to see through that RNS if you have followed the company for a while. More funding will be required like night follows day and any revenue is still a long way off.

You can just imagine the PR guy telling Greg that he must try and put a positive spin on the production delay and offering to write the RNS for him ala AERO

There were quite a few sells yesterday afternoon - now we know why. Share price could come off a lot if traders waiting for production news all sell at once

In my opinion this is a classic case of dressing up bad news as good. The main take home for me from the RNS is that for some reason there has been a delay in the start of actual mining. To try and prevent a collapse in the share price the company is attempting to make this sound like good news. Greg says: "With this in mind, we have decided not to proceed with the mining of the small gold bearing oxide mineralisation at this stage, a decision which has been reinforced by advice received from both our resource consultant as well as the Georgian Resource Committee. We need to ensure that we fully understand the area before commencing mining and ensure that we maximise margins and minimise costs associated with production." Doesn't sound like NMG will be producing for quite a while which is not a surprise given the track record of the company. No revenues and more drilling will mean more funding is required and more dilution for shareholders. Don't get fooled by the RNS as this tactic is used again and again on AIM - put a positive spin on bad news. Sell while you can. You can always buy back if and when the company is closer to production and probably at a much lower share price.

I have read the legal papers relating to the AERO case. From the emails it contains it looks very likely that as well as Strat Aero, Noricum has been employing a PR company who has been posting on bulletin boards in an attempt to 'ramp' the share price. If true, I think this is a shameful and illegal act, whose very purpose is to deceive personal investors. One has to wonder why the company needs to pay people to try and support the share price. If the prospects here are really so good it wouldn't be necessary. I urge potential investors to be cautious when making investment decisions here and do there own independent research and not rely on what people write on bulletin boards.

Goodbye Northcote, hello Mayan Energy

Maybe Northgate really will be a billion dollar company one day, like Randy said, due to the once in a lifetime opportunity in Mexico.

Let's hope this time, after years of failure, the BoD finally manage to deliver something positive for shareholders. After all the false starts with Austria I have become very sceptical. After all, why would the Georgians sell 50% of the asset to Noricum if it was that good?

This is a link to the Balance article https://t.co/k9L3sLSwgi

Thanks Dibs. I thought Cyber turnover was nil in last year's results?

Has your sale been disclosed or are the MMs delaying it?

My view is that the company has a great product and a strong team and is very well placed to take advantage of a market that is seeing enormous growth and where there is relatively little competition. The big contracts are taking longer than we hoped but I am betting that they will come eventually given the above and the reward for patience could be very substantial.

Replace the asterisks with ************* (share prophets).

You can download it here http://www.*************.com/file_download/803/FLXWH.pdf

Unfortunately, I think you're right Dibs. Another placing is a certainty IMO and given the track record here it will be difficult to get one away unless there is a very substantial discount. Cash burn here should have been controlled much sooner and US sales seem very disappointing given the hype.

If they manage to sort out the current mess they may get Mothae on better terms

Nice intra day reversal. I'm still very optimistic that we won't have to wait long for some good news on the sales/contracts front.

Nice summary Ian.B. I think Carl came across as confident and ambitious. Ethiopia is a growth market which should provide plenty of opportunities and this acquisition could be the first of several projects. The JV is also bidding on multiple potash projects and it should have an excellent chance of winning new contracts as Orchid is a major player in the Ethiopian market.. I also expect there will be plenty of newsflow to build interest in what could be an exciting growth story.

Probably short term traders selling out once they realised there wasn't going to be a huge spike today. Olderandwiser - as well as the big Development Bank loan there is a further $7 million to finance from "other debt providers, industrial partners and equity". He said on the interview there was no hurry to raise fresh equity finance as there will be $3 million in the bank at the year end and the company is not burning cash.. There will clearly be an equity raise at some stage but seeing as the vast majority of the project will be debt financed, I don't think this should be a concern to shareholders. The leverage could lead to very significant value being created.

Very interesting interview. The glass bottle project is huge for a company with a market cap of £2.5 million and will be mainly financed by a $35 million loan from the Ethiopian Development Bank. One of the exciting things about the project is that Atlas will be recycling funds from this loan through the company as they will be constructing and providing the services through the recently announced JV. This new project alone could create significant value for shareholders but there is also potential upside from winning new projects in Ethiopia whose economy is rapidly expanding. It is also important to note that the Kenyan operations are now breaking even so they are not consuming cash and the CEO stated there is no rush to raise fresh funds from equity.