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Norseman Gold

February 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NGL
  • Price:
  • 57.5p
Not an ideal scenario for Norseman to release its latest Q3 results on the ASX exchange several hours before the same news was released to London investors but we understand this was a once off issue. In any case the shares had been suspiciously weak since the start of the year.As it was, the report for the quarter ended December showed that Norseman has been pulling some very low grade rock out of the ground and hasn’t hit the ounces it anticipated. The problem Norseman is presently facing is that its mill is running at 4-4.5 days a week or around 50% capacity as it just doesn’t have the rock to feed it. Its two old mines both had issues - Harlequin Decline and Bullen. The former has been addressed by opening more wor ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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