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donnie
13-04-2006, 01:32 PM
Norton might be a good one to follow after the new coal project their getting into.

donnie
15-04-2006, 11:56 PM
Norton Adds Coal to Its Commodities Exploration Portfolio

Norton Gold Fields Limited on Tuesday said it would expand its exploration interests into coking and PCI coal with the acquisition of an exploration permit at Middlemount in the coal-rich district of the Bowen Basin.

Chief executive Tim Prowse said Norton was targeting mid-sized coking and PCI coal resources with a minimum size of 10 million tonnes.
“The area was last prospected about five years ago when lower coal prices dictated resource targets of a significantly greater magnitude to warrant exploration,” he said.

“With the increase in the coal price, these mid-sized coal resources have now become potentially economic.”
Mr Prowse said the exploration area was underlain by the German Creek Coal Measures, and close to two coking coal mines, the BMA Norwich Park coal mine and the Anglo Coal German Creek coal mine.

“While Norton is focused on its existing copper and gold projects, we believe that this exploration permit has the potential to add significant value to the company’s project portfolio,” he said.

“Our new chairman Tony McLellan brings his experience and knowledge in the exploration and development of coal resources and the board considers the project to be an excellent brownfield exploration opportunity for Norton.”
Mr Prowse said Norton was targeting high value commodities, with exploration funded by the operational Norton Gold Mine.

“We have reviewed the operations of the processing plant at Gympie and we have a program in place to improve gold recovery rates up to our target of around 90 percent,” he said.

“The copper results are also very encouraging and we have a team focused on developing Many Peaks into a substantial resource.
“As a company we are committed to taking opportunities to increase shareholder value and we believe our new coal tenement is an excellent fit to our current portfolio of prospective projects.”

BACKGROUND
Norton Gold Fields Limited (NGF) is a resource company with a portfolio of proven gold resources and gold and copper exploration targets. The company holds a series of granted mining leases and exploration permits largely within 100 kilometres of Gladstone in central Queensland.

The projects include the operational Norton Gold Mine which is the company’s first project and the prospective Many Peaks Copper Mine. Historical reports state it originally contained a body of about 2 million tonnes of copper mineralisation. Past mining records document over 500,000 tonnes grading 1.7% copper ore have been mined from this zone. The largely untested greater mine area potentially contains 10 million tonnes of copper mineralization.

For further information: Media:
Tim Prowse Diana Taylor
CEO Norton Gold Fields Ltd 0408 639 130
07 3393 0966
0407 634 552
4 APRIL 2006

ASX Announcement

New Coal Exploration Project

Norton Gold Fields Ltd (“Norton” or the “Company”) announces the grant of Exploration Permit (EPC) 1033 covering an area of approximately 120 square kilometres in the Middlemount district of the Bowen Basin in central Queensland, famous for its rich coal deposits. The project complements Norton’s existing gold and copper projects in the Gladstone area, some 200 kilometres to the south broadening the Company’s scope and potential resources base. The Company will employ its existing exploration expertise to seek to develop a potentially major resource for Norton.

The EPC covers an area over the outcrop of the Rangal Coal Measures and is underlain by the German Creek Coal Measures, both forming two of the principal coking coal measures of the Bowen Basin. The EPC is approximately 15 kilometres from the BMA Norwich Park coal mine and 10 kilometres north of the Anglo Coal German Creek Coal Mine. Both mines produce hard coking coal for export.

Norton is targeting mid-sized coking and PCI coal resources of a minimum size of 10 million tonnes. The area was last prospected in the earlier part of this decade when coal prices dictated resource targets of significantly greater magnitud

yabster
15-04-2011, 07:32 AM
Just read this article in the Age today- so thought I would post- looks like one for the watchlist- sp still going south at the momement.

YOU probably haven't heard of one of the biggest gold producers in Australia, Norton Gold Fields, because it is also one of the many victims of the Lehman Brothers implosion in 2008.

The Kalgoorlie goldminer has 1050 square kilometres of exploration area and last year produced 140,000 ounces of the yellow stuff. This year it is forecast to produce about 160,000 ounces. The company has a resource of 5.8 million ounces and a reserve of 1.2 million ounces.

This is second only to St Barbara, whose market cap is $700 million, in terms of Australian-focused gold production.

Advertisement: Story continues below Norton, on the other hand, in the words of one fundie, is ''unloved and uncovered''. At 15¢, its market cap is close to $100 million and the stock has fallen close to 45 per cent in six months.

The millstone around the Kalgoorlie gold producer's neck is $85 million debt that it ''inherited'' from a $140 million hedge facility Norton had with the failed Lehman Brothers.

Norton managing director Willie ''Andre'' Labuschagne admits as much but he is adamant that Norton will not raise equity and cites the $50 million it has in the bank and the $60 million a year it is generating from operations.

Another problem is high production costs, operating two small open-cut mines. Labuschagne says this problem has been solved by merging them into one big one.

There is no doubt that there is value to be unlocked here. Based on its enterprise value (meaning debt plus equity) Norton trades at $35 for every ounce of gold, in terms of resources on its books. This compares with the average $135 an ounce for Australian goldminers.

For shareholders, the company cannot get rid of its Lehman's legacy fast enough.

STRAT
15-04-2011, 10:07 AM
Thanks Vabster. One to watch.

tricha
27-04-2011, 11:45 PM
Just read this article in the Age today- so thought I would post- looks like one for the watchlist- sp still going south at the momement.

YOU probably haven't heard of one of the biggest gold producers in Australia, Norton Gold Fields, because it is also one of the many victims of the Lehman Brothers implosion in 2008.

The Kalgoorlie goldminer has 1050 square kilometres of exploration area and last year produced 140,000 ounces of the yellow stuff. This year it is forecast to produce about 160,000 ounces. The company has a resource of 5.8 million ounces and a reserve of 1.2 million ounces.

This is second only to St Barbara, whose market cap is $700 million, in terms of Australian-focused gold production.

Advertisement: Story continues below Norton, on the other hand, in the words of one fundie, is ''unloved and uncovered''. At 15¢, its market cap is close to $100 million and the stock has fallen close to 45 per cent in six months.

The millstone around the Kalgoorlie gold producer's neck is $85 million debt that it ''inherited'' from a $140 million hedge facility Norton had with the failed Lehman Brothers.

Norton managing director Willie ''Andre'' Labuschagne admits as much but he is adamant that Norton will not raise equity and cites the $50 million it has in the bank and the $60 million a year it is generating from operations.

Another problem is high production costs, operating two small open-cut mines. Labuschagne says this problem has been solved by merging them into one big one.

There is no doubt that there is value to be unlocked here. Based on its enterprise value (meaning debt plus equity) Norton trades at $35 for every ounce of gold, in terms of resources on its books. This compares with the average $135 an ounce for Australian goldminers.

For shareholders, the company cannot get rid of its Lehman's legacy fast enough.

Thanks Yabster for this posting. I read it over the weekend end, it's a perfect setup, in a long down trend and about to ignite. So I bought today to add to my FML goldie.

I think going by this quarterly, gold costs will plummet this quarter and here after, yes I used to go past here on my way to Cawse Nickel a few years ago, the site was lite up like the pictures show, truely a golden opportunity not to be missed.

Hey Strat, this is one to watch if you hold;)

tricha
04-05-2011, 09:43 PM
Dam how did this happen, posted with out writing, I must be excited, the more I read about Norton, the more I like, might even look at getting a job there.


12 April 2011
Homestead drilling increase high grade underground resource by 14%
Key Points

��

Homestead (VN03) resource increased by 14% (25,000oz) to 394,000t @ 15.8g/t Au

(201,000 oz)
��


VN03 is located within 40m of main Homestead workings

��


Mine planning is underway to convert resources to reserves

��


Resource remains open up-and-down plunge plus intersected additional

mineralised veins
��


Greater Mt Pleasant Project, including Homestead now confidently expected to

provide a long-term high-grade underground ore supply to the Paddington
operations

tricha
08-05-2011, 12:25 PM
Looks like I am the only one on board this dog of the goldfields, if gold stays around $1400 oz, Norton has the potential to double in price in a fairly short time,

Well I bought another 10k worth, their debt is about 15 million, if you take away cash, bond and future income from coal sale.
Their plant is worth about 300 million.
Their share price values them at 103 million.

Their gold is worth absolutely nothing.
From what I see cash costs should be back to $800 an ounce.
40,000 ounces X $600 profit = 24 million for this quarter.

Looking at the picture here, we have a double bottom formed, I am going to Kal to check it out :eek2:

http://www.hotcopper.com.au/images/stockpricecharts/600_420/1644.jpg (http://www.hotcopper.com.au/symbolstockchartprice.asp?keyword=1644)

tricha
10-05-2011, 10:40 PM
This is going to take off, this dog of a company has been restructured. Watch this space.

Mark Wheatley
Chairman: B. Eng. (Hons), MBAMr Wheatley holds a BE (Class 1 Hons) in Chemical Engineering, and an MBA, specialising in finance.

His career over 30-years' has included 17- years' with BHP, where he was involved in technical, commercial, planning, and business development roles. This was followed by three years at Bankers Trust Australia Limited, in project finance, risk management and relationship management.

Later Mark served for three years with Goldfields Limited where he was responsible for corporate development, serving extended periods as acting managing director prior to the merger with Delta Gold Limited to create AurionGold Limited. AurionGold was taken over by Placer Dome Inc in 2002.

Mr Wheatley then served as CEO, and later as Chairman, of Southern Cross Resources Inc., a Toronto Stock Exchange-listed uranium miner, which merged to become Uranium One Inc. Mr Wheatley continues as non executive director of Uranium One Inc and is non executive Chairman of Gold One International Limited. Mark also served as a non-executive director of St Barbara Limited for a number of years.
http://www.nortongoldfields.com.au/Assets/Directors_MWheatley.jpg
Andre Labuschagne
Managing Director: B. Comhttp://www.nortongoldfields.com.au/Assets/Directors_Labuschagne.jpgMr Labuschagne graduated in 1989 from Potchefstroom University in South Africa with a Bachelor of Commerce degree. He has over 20-years' experience in the mining industry at operational and corporate levels. Mr Labuschagne has held various senior financial roles and operating roles with the company over the past three years, including CFO and Deputy CEO.

In 2002, he was appointed the Head of Finance and Administration for DRD Gold, and in 2004 he opened DRD Gold Australasia's Brisbane office. His recent experience includes acting chief operating officer of Emperor Mines Limited which involved the successful turnaround of the Vatukoula mine in Fiji, and initiation of a turnaround strategy for the Tolukuma Gold Mine in PNG

tricha
06-06-2011, 05:55 PM
A bit of an interesting day with Norton. Hopefully it has bottomed. This quarter is going to tell a story.!
Will it have been de-fleaed ?

Last

15.5
http://www.stocknessmonster.com/images/green_round_small.gif 1 6.9%
4:03 pm

STRAT
07-06-2011, 09:15 AM
Hey Tricha.
14.5 looks like fairly sound support/bottom eh?

Still on watch but in this market that support could easily fade away. Im not convinced yet.

Thought you had sold up?

tricha
14-07-2011, 03:45 PM
Hey Tricha.
14.5 looks like fairly sound support/bottom eh?

Still on watch but in this market that support could easily fade away. Im not convinced yet.

Thought you had sold up?

I bought on the last lows, the likes of PAN, MCR, ADE, BPT, TAP and NGF.

ALL will be revealed with Norton with this quarterly. The gold price will suppport it, but will they have the gold??

tricha
26-07-2011, 04:16 PM
Bring on the quarterly, I bet the Chinese have a good insight, why else would they buy.

Norton to raise $27.7m at 31% premium - to reduce debt (http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=233560)

modandm
26-07-2011, 05:18 PM
i am not a holder but have followed this story for a little while.

This announcement is very very impressive.

Even this to add icing to the cake:
No commissions will be paid by Norton for the placement and legal costs will be borne by the respective parties.

They have basically acted as their own investment banker to raise $27m (at a premium!) WOW!!!

Cudos to management!!

Once the debt gets down no doubt more enthusiasim will come. However we should still remember NGF will still owe Merrill $50m over a 3.5 year term with interest of ~15% and further prepayments will incur penalty. What sort of ROA will NGF have to achieve for shareholders to get a decent return?

Also with the recent departures from the board one does wonder about governance at the company?? It's a bit of a a risky play - too much for me.

tricha
26-07-2011, 09:18 PM
i am not a holder but have followed this story for a little while.

This announcement is very very impressive.

Even this to add icing to the cake:
No commissions will be paid by Norton for the placement and legal costs will be borne by the respective parties.

They have basically acted as their own investment banker to raise $27m (at a premium!) WOW!!!

Cudos to management!!

Once the debt gets down no doubt more enthusiasim will come. However we should still remember NGF will still owe Merrill $50m over a 3.5 year term with interest of ~15% and further prepayments will incur penalty. What sort of ROA will NGF have to achieve for shareholders to get a decent return?

Also with the recent departures from the board one does wonder about governance at the company?? It's a bit of a a risky play - too much for me.

Hmm Modandm

Yes Cudos to management. I think with this reduction in debt, they will now be 20 million cash positive.

And if u wait for the quarterly report, I'm betting on a 20 million + profit for this quarter. You will be to late.
Thats my personal interpretation of their previous reports.
But then, I've been wrong many times before.:(

tricha
08-08-2011, 11:55 AM
Good as Gold

1612.49

tricha
08-08-2011, 10:48 PM
Good as Gold

1612.49

Actually simple maths, 140,000 ounces to be produced this year, @ $1,000 cash cost.;)

tricha
09-08-2011, 10:19 PM
Actually simple maths, 140,000 ounces to be produced this year, @ $1,000 cash cost.;)

$121,416,192.00 market cap and 140,000 ounces x lets say $700 profit, = 98 million.

u do not have to be a rocket scienctist to work this one out.

yabster
11-08-2011, 02:15 PM
Good volume and recovery for ngf - Not holding - if they can get the cost down should be a winner- plenty of resource.

tricha
23-08-2011, 01:56 PM
Good volume and recovery for ngf - Not holding - if they can get the cost down should be a winner- plenty of resource.

Yes costs down would be great, but at this gold price, they are already making hay. This is a gold producer, not a wantabe.




9:10 am

Unaudited FY2011 results - after tax profit of $13.1M (http://www.sharetrader.co.nz/news-item?S=NGF&E=ASX&N=234380)

yabster
24-08-2011, 08:52 PM
Hi Tricha

152 oz's at a margin of about $400 (avg gold price was $1400-1000 costs) gives you $60m less tax of $18m leaves $42m, so can't work out why the after tax profit was only $13m? Must be missing something? Interest on the $80m debt (now $65m) wouldn't be that much.
Be interesting to see the accounts!

tricha
28-08-2011, 09:34 PM
Hi Tricha

152 oz's at a margin of about $400 (avg gold price was $1400-1000 costs) gives you $60m less tax of $18m leaves $42m, so can't work out why the after tax profit was only $13m? Must be missing something? Interest on the $80m debt (now $65m) wouldn't be that much.
Be interesting to see the accounts!

Yes the accounts will be interesting Yabster, but I am looking to the future, if gold stays here abouts, they should go to 40 cents easily, their plant and mines would cost 300 million to replicate.
So the gold is actually valued at nothing.

yabster
29-08-2011, 07:51 AM
eps of 2cents, shareprice 20cents so pe of 10 on $13m - avg gold price $1400. Costs still to high.

tricha
30-08-2011, 09:00 PM
eps of 2cents, shareprice 20cents so pe of 10 on $13m - avg gold price $1400. Costs still to high.

Too high at $1,000 an ounce :confused:, when they are getting lots more, every $100 increase above $1400, will add at least 15 million to the botton line.

Why I say least is, do not be surprised if they increase production on lower grade gold.

Also their debt is plummenting, so their high interest rate, is getting smashed as well.

So unless the gold price plumments, this company will double in price.


The Potential for 100% gain on gold stocks? A channel partner mailing from Minesite.comTuesday, 30 August, 2011 9:34 AM

From:









http://www.presentation-matters.co.uk/web/email/jan_2011/module-divider-3.gif

http://www.unquoted-analyst.com/uploads/t1psim/Golds%20heads%20towards%20%242000%20on%20debt%20fe ars.jpg


http://www.presentation-matters.co.uk/web/email/jan_2011/module-divider.gif

Alpha rated senior fund manager Tom Winnifrith sees the potential for 100% returns for gold stocks
With the paper currencies undermined almost daily by the threat of further quantitative easing across the globe and by downgrades on Sovereign debt ( a process only just starting but set to accelerate in the US, Japan and especially Europe), the flight to the one currency not undermined by the folly of politicians, that is to say gold, looks set to continue. We expect to see gold increase in value to more than $2000 oz by Christmas and to head higher throughout 2012. As such, investors are now, belatedly, starting to wake up to the incredible value of gold equities.

Last Monday a number of AIM quoted gold juniors, including Vatakoula Gold Mines, Hambledon Mining and Ortac Resources (all of which we own in the SF t1ps Smaller Companies Gold Fund) gained up to 15% in just one session. Despite this rally, some of these companies are trading at multiples of less than three based on gold at just $1500.

The reality is that despite the rising gold price, gold stocks have until recently had a poor 2011. Many brokers wrongly advised that the gold price would not continue to increase. That, and the general market turmoil, spooked some investors. But now the brokers are waking up and smelling the coffee and with cashflow multiples at such low levels inevitably the cash rich majors are starting to make bid approaches and hence shares in the gold juniors and mid caps are starting to make up ground.

Gold is currently at $1826 and will keep moving upwards sharply according to Tom Winnifrith Senior fund manager of t1ps Investment Management.
He also claims that he would expect to see shares in a raft of mid cap and junior gold stocks double within weeks arguing that this is not a gold bubble but that the incline is driven by fundamentals. The key point that investors must consider is that if a stock trades on less than 3 times cashflow at $1500 gold then operational gearing means that at $1800 gold it may well trade on less than two times cashflow. Such a lousy rating is untenable. Either the market re-rates the stocks or they are in play as bid targets for the majors. Please note that the value of your investment can go down as well as up and you may not get back a significant proportion of your investment.
And the odd thing is that most investors ( both private and institutional) currently have no exposure to gold equities. Indeed the market capitalisation of all the gold equities on this planet combined is less than that of Google. When those with no gold exposure realise that they must have some then the scramble for a limited resource (shares in quality gold shares) will see share prices in quality gold companies race ahead dramatically, Winnifrith claims. This process could, he adds, start within weeks.
Of course investing in individual gold stocks can be risky. Which is why we suggest putting your cash into a well managed carefully selected portfolio of quality mid cap producers and near term producers: the SF t1ps Smaller Companies Gold Fund. Putting his money where his mouth is, Mr Winnifrith has recently invested more of his own cash in buying Fund Units. We suggest that you do the same.

yabster
31-08-2011, 07:21 AM
yeah i get that email too...

$1000 per ounce is production cost- closer to $1200 over all costs from what I can see.

tricha
31-08-2011, 10:56 PM
Good volume and recovery for ngf - Not holding - if they can get the cost down should be a winner- plenty of resource.

Not holding, u are sure showing a lot of interest in this one Yabster.
It might be a case of sitting at the station, watching the ship sail out to sea :confused:

WE could see some major action happenning here, if u read between the lines.


Part of the meeting today is to endorse and welcome Zijin as an investor in Norton. Zijinis a major Chinese gold and base metal producer in its own right with a marketcapitalisation of about A$16b. Zijin produces over 2.4m oz of gold, 90k t of copper and130K t of zinc annually. It is a leader in the development of new technology for themining industry, especially in extractive metallurgy for gold. I consider the investmentmade into Norton by a large, credible mining company such as Zijin as a positivemove.The investment by Zijin enables us to make a $30M pay-down of our Merrill Lynch debtbefore 3 September, enabling us to lock-in the current interest rates by meeting thisloan agreement condition. Following this transaction, the total company debt willstand at about $50M, a level business analysts should see as manageable at currentgold prices. We are also looking at other opportunities to reduce debt.

http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=234757

tricha
04-09-2011, 01:00 AM
Not holding, u are sure showing a lot of interest in this one Yabster.
It might be a case of sitting at the station, watching the ship sail out to sea :confused:

WE could see some major action happenning here, if u read between the lines.


Part of the meeting today is to endorse and welcome Zijin as an investor in Norton. Zijinis a major Chinese gold and base metal producer in its own right with a marketcapitalisation of about A$16b. Zijin produces over 2.4m oz of gold, 90k t of copper and130K t of zinc annually. It is a leader in the development of new technology for themining industry, especially in extractive metallurgy for gold. I consider the investmentmade into Norton by a large, credible mining company such as Zijin as a positivemove.The investment by Zijin enables us to make a $30M pay-down of our Merrill Lynch debtbefore 3 September, enabling us to lock-in the current interest rates by meeting thisloan agreement condition. Following this transaction, the total company debt willstand at about $50M, a level business analysts should see as manageable at currentgold prices. We are also looking at other opportunities to reduce debt.



http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=234757


2 monthes into this new quarter and gold is still trending up.

It all abodes WELL for NGF, interesting times a head.

http://www.goldmoney.com/video/greyerz-turk-interview.html?gmrefcode=gata (http://www.goldmoney.com/video/greyerz-turk-interview.html?gmrefcode=gata)

tricha
05-09-2011, 11:37 AM
Ready to blow!:)

Net debt reduced to $23 million
http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=234936



2 monthes into this new quarter and gold is still trending up.

It all abodes WELL for NGF, interesting times a head.

http://www.goldmoney.com/video/greyerz-turk-interview.html?gmrefcode=gata (http://www.goldmoney.com/video/greyerz-turk-interview.html?gmrefcode=gata)ll

tricha
10-09-2011, 12:22 AM
Ready to blow!:)

Net debt reduced to $23 million
http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=234936


ll

Yep, it's blowing and why not.

A gold producer of 160,000 ounces a year.

Anything above $1400 an Ounce OZ = big profit.

$300 at 40,000 ounces for this quarter = an xtra 12 million profit.;)




23.5
http://www.sharetrader.co.nz/images/green_round_small.gif 2.5 11.9%
4:12 pm

tricha
07-10-2011, 08:07 PM
Only another 3 weeks to go, to see if I called this dog of the Goldfields right.

The numbers are looking good.

tricha
30-10-2011, 12:34 AM
Great report, NGF on track to go to 40 cents a share.


 Cash balance increasing
Paddington Operations
 Production of 35,780oz for the September Qtr;average gold price received of $1,612/oz.
 C1 unit cash cost for the September Qtr waslower than targeted at $1,056/oz.
 Commencement of Blue Gums pre-strip.
Exploration
 High grade results from Homestead up-dipextensions.
 Drilling of 24,064 metres in 254 drill holes.
 Shallow high grade oxide results recorded fromthe Rose West-Violet Prospect.
 RC drilling of targeted resource infill, regionalexploration and resource development of12,132 metres in 183 drill holes.Corporate
 Strong cash position – $40.1M cash at bank(excluding $19.7M in cash backed securitydeposits).
 Debt reduced by $30.0M to $50.80M – net debt at ~$11M.
 Placement of $27.7M to Zijin.
 Appointment of new non-executive director,Mr Xianhui Zeng.
Production Guidance
 Production guidance of 150koz for FY2012 at$970/oz
C1 cash cost.

tricha
10-11-2011, 03:39 PM
Still a bargain and I bought more today. I had no doubts, reading this just reinforced what I could see happenning.
Watch this space...........

http://www.brr.com.au/event/88789/neil-charnock-editor--consultant-at-goldoz

drillfix
10-11-2011, 03:42 PM
Good stuff there tricha,

Although, would have thought you may have taken a few positions in a few goldies out there, or is this the only gold stock you are exposed to?

tricha
12-11-2011, 12:00 PM
Good stuff there tricha,

Although, would have thought you may have taken a few positions in a few goldies out there, or is this the only gold stock you are exposed to?

Thanks Drillfix, I only have a few FML left, they have lost Focus on taking over Cresent Gold.

NGF is a real gold mining company, what you see is what you get, no smoke and mirrors like many emerging gold companies. I've been badly burnt twice with BMA gold And CTO ( citygold).

Other key points worthg noting.

1 - There is no soverign risk.

2 - Kalgoorlie is just up the road, so your staff and services are readily available.
It means you are not spending megabucks maitaining a workers camp.

3 - In this area there has not been that much drilling at depth, so you never know what they might find.

So on sound fundamentals, I challenge all of you to find a gold producer that is better.:confused:

tricha
18-11-2011, 03:21 PM
It could be a good day to buy more Norton, the fundamentals have not changed.

150,000 ounces of gold at a profit margin ( todays price ) $700

= a mere 105 million profit, for a 200 million dollar company, with a mine tht would cost 300 million to build.

The numbers do not add up.


22.5
1.5 6.2%
1:49 pm

tricha
16-12-2011, 10:36 PM
net debt at ~$11M, gone by 2012.

They are getting canned at the moment, so I picked up another 60,000 shares today, every which way i read them, they are dirt cheap compared to any gold miner in OZ.

This report comfirms what is obvious,

http://www.nortongoldfields.com.au/PDF/GoldOz%20%20Report.pdf

soulman
17-12-2011, 12:11 AM
I got a slice today tricha. Wish they can get their cost per ounce down a little bit. Still, Zijin could still come and take the whole NGF for 20 plus cents. Off course, another $15 mil to come from their asset sales in $5m 2012 and $10m 2013.

gazprom1
17-12-2011, 10:31 AM
I got a slice today tricha. Wish they can get their cost per ounce down a little bit. Still, Zijin could still come and take the whole NGF for 20 plus cents. Off course, another $15 mil to come from their asset sales in $5m 2012 and $10m 2013.

Hey SM,

Did a little research on NGF this am and it looks to have all the boxes ticked and appears good value at these levels. One concern I have is the costs - both cash costs and overall costs. Cash costs are around that $1000/oz and overall costs near $1300/oz. We have seen gold drop to around $1500/oz recently. I am more of a buy and hold investor so if I look out 1-2 years and we see the world "less stressed" than it is today, maybe the risk premium for gold may decrease and the price may retrace to a point where it is below $1300 and nearer that $1000/oz. Just thoughts...

Zijin is waiting in the wings so a bit of hedge there....

Gaz

tricha
17-12-2011, 08:57 PM
I got a slice today tricha. Wish they can get their cost per ounce down a little bit. Still, Zijin could still come and take the whole NGF for 20 plus cents. Off course, another $15 mil to come from their asset sales in $5m 2012 and $10m 2013.

I'm glad I'm not the only one buying this company Soulman. Thanks for reminding viewers, still 15 million to come.

Gazprom1 is correct, the gold price could derail them, how ever it also works the other way. I am sticking with the other way, it's my insurance policy, I'm backing the Euro will collapse scenaro, gold going past $2,000 an ounce,.

If you study this report, Norton are on a mission to increase grades, lower cash costs. If you also read PXG,s reports, they have found good grade in the same zone as NGF.
NGF has been so busy diging the company out of ****, they have had not the time or resouces to do nothing more than survive.

All this is about to change,


http://www.nortongoldfields.com.au/P...0%20Report.pdf (http://www.nortongoldfields.com.au/P...0%20Report.pdf)

soulman
19-01-2012, 03:46 PM
Finally breaks through the 20's Tricha. Done alright with NGF lately. Next quarterly will be interesting to read. Still wondering who picks up the 6.5 mil block a few days ago. Zijin will be a perfect candidate. They have around 17% last time I heard.

tricha
19-01-2012, 09:56 PM
Finally breaks through the 20's Tricha. Done alright with NGF lately. Next quarterly will be interesting to read. Still wondering who picks up the 6.5 mil block a few days ago. Zijin will be a perfect candidate. They have around 17% last time I heard.

I did not know a 6.5million block had changed hands Soulman, the top 20 shareholders own 83.4 %, so they are tightly held.

I hope they do not get taken over, prefer they run their course, it should be a great quarter, money owned should be more than money owed.

soulman
20-01-2012, 04:25 PM
Yep, the 6.5 mil shares changed hand a few days ago, when they have nearly 7 mil shares traded.

I am out of NGF at the moment, sold them at 21.5 yesterday. My thinking ATM is that any decent profits should be taken because we don't know when the tide will happen. We do have the upcoming reporting season coming so it will be interesting to note the tone of the CEOs.

tricha
20-01-2012, 10:55 PM
Yep, the 6.5 mil shares changed hand a few days ago, when they have nearly 7 mil shares traded.

I am out of NGF at the moment, sold them at 21.5 yesterday. My thinking ATM is that any decent profits should be taken because we don't know when the tide will happen. We do have the upcoming reporting season coming so it will be interesting to note the tone of the CEOs.

Everyone to their own way of thinking Soulman, excellent trade, I'm in for the long haul, unless things change, not selling any, till at least 50 cents, when you consider they have a mining operation, u can not replace for at least 300million.

There is no value for any gold, huge drilling operation starting soon, with 80 prospects that have been identified for resource potential.
Before now they were so cash strapped, all they could do was try and survive, debt to cash should be zero now, down from 150 million a few years ago. I call it a new beginning.

A classic example is PXG, just down the road, how much potential this golden fault line has.

soulman
20-01-2012, 11:21 PM
I have no doubt about NGF potential. I have a stake in PXG and PXGO, hoping that Paterson's will spruik PXG shares to get as many options exercise before the end of FEB 2012.

Also, with $7 mil coming to PXG, no cap raising needed in the short term.

tricha
22-01-2012, 10:08 PM
I have no doubt about NGF potential. I have a stake in PXG and PXGO, hoping that Paterson's will spruik PXG shares to get as many options exercise before the end of FEB 2012.

Also, with $7 mil coming to PXG, no cap raising needed in the short term.

The trouble is PXG do not have a mill, toll treating is not a great option, they are also mining small, rich deposits, but who knows what the bigger picture is. I'd call them speculative, worthy of a punt.

Norton however have their 300 million processing operation. This is the 1st major drilling, they have carried out since 2007, their debt nearly killed them and since 2008 they have been in surival mode, the true potential is about to be unleashed.

Norton Gold Fields eyes increased production from Kalgoorlie Goldfields with A$37m strategy

Thursday, November 03, 2011 by Angela Kean http://genera.proactiveinvestors.com.au/genera//img/companies/news/goldnugget350_4eb2250fb0d7c.jpg
Norton Gold Fields (ASX: NGF) plans to exploit the gold potential of its Paddington operations through a A$37 million investment in exploration and resource development programs over the next two years.

Commencing in January next year, the programs will target newly defined resources of 300,000 ounces from open mineralised extensions, and progress an additional 700,000 ounces to the point of mine development.

Norton holds a tenement package comprising 693 square kilometres within the Kalgoorlie Goldfields region, one of the prime gold provinces globally.

The Paddington operations currently have a resource of 5.9 million ounces of gold, including a ore reserve of 1.1 million ounces.

Norton produces in excess of 150,000 ounces of gold per year from the Paddington operations.

The $37 million budget will allow the company to advance several known, higher grade deposits, all within a 50 kilometre radius of the 3.3 million tonnes per annum Paddington Mill, into the mine life.

Significantly, it is the first time since acquiring the Paddington Operations in 2007 that Norton will have engaged in any greenfields exploration on its tenement package.

The first area of focus will be the Border-Gidji Project area which intersects the highly prospective Boulder-Lefroy structural corridor.

This structural corridor has already provided the world class 70 million ounce Golden Mile (Super Pit), St Ives and Paddington deposits

tricha
07-02-2012, 10:53 PM
Hey SM,

Did a little research on NGF this am and it looks to have all the boxes ticked and appears good value at these levels. One concern I have is the costs - both cash costs and overall costs. Cash costs are around that $1000/oz and overall costs near $1300/oz. We have seen gold drop to around $1500/oz recently. I am more of a buy and hold investor so if I look out 1-2 years and we see the world "less stressed" than it is today, maybe the risk premium for gold may decrease and the price may retrace to a point where it is below $1300 and nearer that $1000/oz. Just thoughts...

Zijin is waiting in the wings so a bit of hedge there....

Gaz

Cash costs due to come down, for the second half of the year, yes we still need gold to hang around $1,600 OZ, to make good coin.

Very astute gazprom, Zinjin is hovering.


http://www.nortongoldfields.com.au/Media/111215%20Kalgoorlie%20Gold%20Play%20'Under%20the%2 0Radar'.pdf

JBmurc
23-03-2012, 12:50 PM
Back down it goes to 16.5c bad weather ....

soulman
30-03-2012, 01:02 PM
Like they say, timing is everything....

Approach from third party. I don't hold anymore and not happy that I didn't get a chunk when it drop to 16.5 - 17.5 JB.

Alwyas dread the day this happen and you are not in it.

JBmurc
30-03-2012, 01:54 PM
Like they say, timing is everything....

Approach from third party. I don't hold anymore and not happy that I didn't get a chunk when it drop to 16.5 - 17.5 JB.

Alwyas dread the day this happen and you are not in it.


I'm getting use to it ....been a rough year 0% growth ....last day today....surely do better for the 12/13 fin year

was looking at ST trading LYC or AGS ended up in the latter now down over 15% only days later

tricha
30-03-2012, 04:26 PM
I did not know a 6.5million block had changed hands Soulman, the top 20 shareholders own 83.4 %, so they are tightly held.

I hope they do not get taken over, prefer they run their course, it should be a great quarter, money owned should be more than money owed.

Not the right result.

I only hold three companies, finding a replacement of Nortons calibre will be very difficult.

soulman
30-03-2012, 07:24 PM
Probably depends on the price tricha. I am too scare to look. Surely not 100% premium but you never know.

The board will probably reject it anyway.

Wonder what it will do to the other gold miner. I see that IDC is getting a hurry up the last few days.

JBmurc
03-04-2012, 11:30 AM
ASX/MEDIA ANNOUNCEMENT
3 April 2012
NORTON GOLD FIELDS RECEIVES INDICATIVE TAKEOVER PROPOSAL
Norton Gold Fields (ASX:NGF) (Norton) confirms it has received an indicative proposal from Zijin Mining Group Co., Ltd (Zijin) regarding a potential change of control transaction for Norton.
Under Zijin’s indicative, non-binding and conditional proposal, all Norton shareholders would receive total value of $0.27 per share, comprising an offer price from Zijin of $0.25 cash per share and a special dividend of $0.02 per share from Norton (Proposal).
Zijin currently holds a 16.98% shareholding in Norton.
The Proposal, which was unsolicited, is subject to a number of conditions including due diligence investigations, Foreign Investment Review Board approval, Chinese regulatory approvals and Zijin achieving a minimum relevant interest in at least 50.1% of Norton’s shares.
Norton has formed an independent sub-committee of the Board led by Chairman, Tim Prowse, for the purpose of evaluating the proposal (Non-associated Directors).
The Non-associated Directors recognise that the indicative offer price, together with a $0.02 dividend, represents an attractive premium to Norton’s share price and are minded to recommend acceptance of the offer subject to reaching agreement on its terms, and on that basis have engaged with Zijin including facilitating due diligence and negotiating the terms of the Proposal. Discussions have been progressing for some time and remain ongoing. Norton is also assessing the impact of the Proposal on its obligations under its existing financing facility.
Shareholders should note there is no guarantee that a formal offer will ultimately be received, or made on terms that are acceptable.
Shareholders should take no action in relation to the Proposal until they receive further communications from the Non-associated Directors.
Norton is being advised by Merrill Lynch and HopgoodGanim Lawyers.

tricha
01-05-2012, 10:12 PM
Probably depends on the price tricha. I am too scare to look. Surely not 100% premium but you never know.

The board will probably reject it anyway.

Wonder what it will do to the other gold miner. I see that IDC is getting a hurry up the last few days.

I do not know about the board rejecting it Soulman, I think its in the bag, unfortunately.
No knight in shining armour has come to the rescue.

I did top up today, my way of thinking is the offer allows a nearly 20% gain on todays price.

And they had a great quarter, http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=241489 and great exploration results. http://www.stocknessmonster.com/news-item?S=NGF&E=ASX&N=241493

I am betting that it will happen, given the great results, a 18% gain is on the table, with minimal risk.

soulman
01-05-2012, 10:41 PM
Looks to be good buying there tricha. Still there is some uncertainty re: FIRB approval. Could be a few more months before this deal go through.

Any news to speed up the process will get me on board.

soulman
21-08-2012, 09:42 PM
Wow, missed the 90 percent threshold by that much.....less than 1%.

JBmurc
11-09-2012, 03:36 PM
I see now you can buy NGF for 19c ???

tricha
11-09-2012, 07:49 PM
I see now you can buy NGF for 19c ???

It is tempting JBmurc, however you are at the mercy of the Chinese, who knows what their game plan is here.

They need 1%, easy, and take the rest out, at 25 cents as per the last offfer. hmm, remember part of the last offer, was also a 2 cents a share dividend to all holders.

So yes there is a possibility of a quick 20% gain, or a lot of pain.

JBmurc
12-09-2012, 06:36 PM
And down it goes 17c(easy 16c buy) ... yes doesn't look like holders that didn't take up the offer want to hang round ...