NGF - Norton Gold Fields

[stoxclimber]

For those who are following [i assume none based on the replies] I would consider NGF farely valued in the 20-24c range at the moment (depending on how highly you rate the management). personally I have sold since I don't see the point in holding when I consider the undervaluation to be small..

 

[pacer]

NGF.....it sorta sounds like coughing and spewing at the same time...NNNNGGGFFFFFFFFf farrrr-rout that was a wicked spew...lol


All goldies will be goodies......enjoy...but get them on the radar..go to hotcopper or sharescene and ramp it there....lol...or post a graph and mention some news to get us excited.....

Go hard or go home....

 

[dubiousinfo]

This is up another 21% today on increased volume. Buying depth has looked empty all day but 1.3mil traded today.

I hold

 

[leigh_munro]

Does any one have any thoughts on this stock at the moment.

Buying into this as part of the initial offering was my first share purchase. After Their recent purchase of the mt morgan site and with the purchase of the paddington gold mine due to be approved at the upcomming AGM, it looks like they will be in a position to start mining again soon....

 

[Col Lector]

GOLD!! NGF mkt cap about 70mill; SP 26c. Has several advanced high grade deposits Au and also Cu.

ASX/Media Release
11 September 2007
Norton Gold Fields Announces Significant High Grade Drill
Intercepts on its Paddington Gold Tenements
Key Points
• Norton Gold Fields continues the exploration program previously
undertaken by Barrick at Norton’s recently-acquired Paddington Gold
Mine.
• The drilling program has confirmed high grade intercepts, including:
3.8 metres at 44.5 g/t,
6.9 metres at 29.6 g/t, and
0.6 metres at 813g/t.
• All holes intersected the ore zone.
• Assay results have been returned from five of the sixteen holes recently
drilled, with eleven holes outstanding.
• Visible gold found in six of the sixteen holes.
Following its acquisition of the Paddington Gold Mine, Norton Gold Fields (ASX
symbol: NGF) (“Norton”) has continued the exploration program previously
undertaken by Barrick on the tenements surrounding the Paddington Gold Mine.
Comprising some 1,000 km², the area surrounding the Paddington Gold Mine has
been assembled over many years, and has already produced over 3 Moz of
gold.
Norton’s strategy is to prove and develop a new underground mine to supply
300,000 tpa of high grade, free milling ore to supplement the existing bulk low
grade open cut mill feed. The same model has been used by Barrick at
Paddington over the past three years with the processing of the Raleigh and
Bullant ore bodies. Mining of such a resource could be expected to increase
substantially the present gold production at Paddington.
Recent exploration activity has been concentrated on the Homestead Project,
approximately 18 kilometres south-west of Paddington with an existing inferred
resource of 185,000 tonnes grading 23.8 g/t (142,000 oz) (Placer Dome 2005). The
project contains a high-grade, free milling underground resource that could
satisfy Norton’s objective.
The program has entailed diamond drilling into the northern part of the deposit,
originally drilled on a broad spacing by reverse circulation drilling. The current
program will provide an overall drill spacing of 40 metres x 40 metres, sufficient to
elevate this resource from inferred to a minimum indicated status and to expand
the resource along strike and down dip.
Page 2 of 5
The diamond drilling program has confirmed the high grade intercepts found with
the earlier reverse circulation drilling and has also provided further structural
information needed for initial mine planning work. Of the 16 holes recently drilled,
assay results have been returned from five, with eleven holes outstanding.
Details of the full diamond drilling programme are shown in the table below,
which includes 3.8 metres at 44.5 g/t, 6.9 metres at 29.6 g/t, and 0.6 metres at
813g/t.
From the recent drilling, all holes intersected the ore zone, with visible gold found
in six of the sixteen holes.
The Company has committed to a budget of $5 million for exploration in the
coming year.
“Norton is delighted with the current exploration program and expects to report
an increase in resources. It puts us in a position to commence mine design and
feasibility work and demonstrates the great exploration potential of the recently
acquired Paddington Gold Mine,” Norton’s Managing Director, Mr Tim Prowse,
said.
About Norton Gold Fields
Norton Gold Fields Limited is now the fourth-largest ASX-listed Australian gold
producer. In addition to the Paddington Gold Mine, Norton has advanced gold
and copper projects (Mt Morgan””currently under contract, Norton, and Many
Peaks) in central Queensland.
Further strategic acquisitions of new resource projects are planned in order to
build the company into a significant mining house.

 

[Bushman]

Anyone still on NGF? I bought some the week before last based on the last drill hole announcement in WA - 16 holes drilled, 6 returning gold with 11 to come. Was struck by the comment that there was visible gold in 6 of the drill holes and that it was next door to an existing operation.

Announcement out today that they have mined 18,000 ounces in the September quarter from the Paddington mine. Belive this to be the mining of old tailings in Qld and separate to WA drilling campaign? Do not have the facts in front of me because I am work.

Anyway the market likes it and the price has shot up 50% today. It hit an intra day high of 52c. Happy days. Will keep an eye on it from now but a nice earner so far.

 

[Gar]

Ive been watching this one waiting for an entry, needless to say this morning was a bit of a piss off

congrats to you though bushman :bier: !

chart data is delayed a bit though

 

[Bushman]

Price dropping back a bit now Gar. You might still get that entry point as people take profits. It does not have a massive volume of stock on sale so the price will fluctuate. Personally I am hoping NGF can finish the day in the mid 30s and consolidate at that position in the lead up to the next series of drill results and production figures.

Good luck mate.

 

[Gar]

Cheers Bushman

I'll see how it winds up, if I can get an entry a little closer to the 30c mark I might give it a go but anything higher and the Risk/Reward margin is getting a little low for me. I know nothing of the fundamentals in this one. I'm only playing the T/A role

its really shown some strength today though

 

[Gar]

well I took a position @ .335 with a .305 stop today, I'm hoping that this leg up will take us to around .385 before a bit of consolidation.

Gold is also looking very bullish to me ATM so that might help us out a bit

 

[leigh_munro]

I got in some time ago at 20c, pretty happy with how its been performing in the last week...........................................

 

[Gar]

just sold at .380

That doesnt mean I dont think the stock will go further as I'm sure it will in time

I'm just happy to make a quick buck now and then

 

[Bushman]

just sold at .380

That doesnt mean I dont think the stock will go further as I'm sure it will in time

I'm just happy to make a quick buck now and then

Good work mate.

I'll be holding for awhile. Further drilling results to come at Paddington, 2nd quarter production results and the POG pushing into past $750 an ounce makes this an exciting gold play.

Each to their own regarding the various strategies too. Both have merit during this commodities frenzy.

 

[Bushman]

Good work mate.

I'll be holding for awhile. Further drilling results to come at Paddington, 2nd quarter production results and the POG pushing into past $750 an ounce makes this an exciting gold play.

Each to their own regarding the various strategies too. Both have merit during this commodities frenzy.

Hit 48c today with a large buyer at close. Now up 70% in a month. Good buy at 27c for me. Will keep holding and see where it takes me. Hoping for -
1. 30000 oz to be confirmed for the 4th qrt; and
2. Further upside with Paddington drill results.

Keep an eye on it is my recommendation. Once capper at 40c was removed this week it appreciated another 15% in a few days.

 

[Synergy]

Yeah a very strong close helped its cause today, it was muffling around a little until then. I got in on the low as a system trade. When i first saw the name i though it was NFG

Lets hope it's a little better than that...

 

[tigerboi]

ive been watching ngf very closely the last 4 weeks,today the sellers thinned

out with the buyers about to pounce,the bollies are that close you wouldnt

get a tally ho between them & to top it off a director has bought $480k of

shares at 0.480,all it needs is the upgrade that has been expected before

xmas..

 

[tigerboi]

still watching ngf real close,highest volume on friday since 6th dec.with the

director buying $500,000 worth of shares recently also buyers lining up on

friday,i am expecting anns.very soon.mondays action will be interesting to see

if fridays volume increase gathers speed...

 

[maggie123]

Have held NGF for a while now and it was good to see it rise today after being stuck trying to break through 50c for quite some time. Yesterday's announcement seemed positive.

 

[Bushman]

Great announcement today. 3m ounces (measured and inferred) with a further 1m oz indicated. Mkt cap is still low at 196m.

Further drilling potential too. I sold these at 50 cps - thinking of buying back in mid 60's. Good 10 year plus proposition now.

 

[hyperterminal]

be interested to know what others take out of the latest announcement, dont know much about gold stocks so some advice would be appreciated, have i missed the boat????? buying in the 60's too late? any comments or valuation would be appreciated from the goldies out there