NGF - Norton Gold Fields

tigerboi · 2 March 2008

Anyone got ideas about whats been going on at NGF,I did expect it

to kick on big time once the cappers at 0.50 where taken out which sent it to

its 0.675 high,i believe there may have been some buying up for the quarterly

report announcement with silly expectations of costs at under $400 per oz,

that being the case as the 4th biggest asx goldie NGF is really good value for

the longer term.Once mt morgan comes on line the position of the company

will look much healthier,especially costs wise as the mill they have at the wa

mine to be transported to the mt operation,when it gets the go ahead that is.

I understand in the market's present state punters want results ASAP from a

company otherwise the get smashed,however with the upsurge in mining

activity in recent years availibilty of services such as drill rigs,drivers & the

latest price of diesel around $1.50+,punters have to be evermore patient & be

prepared to ride out the bumpy waves in the short term to sit back on the

big baggers that will come but only if you hold your nerve,gold will only keep

going up as its a finite resource but coupled with the greenback nearly at 1/1

with our dollar gold companies that are well run will have good times ahead.

scuffler · 3 March 2008

nice post.

I like the fact that they have cash and are looking for more projects to buy....producers i hope.....

This stock is a must this year with the current climate.
Is making money from gold...of which 40% is hedged in the high 800 hundreds and 60 % floating......Plenty of cash and no need to put their hands out for more!!

cheers.

urgalzmine · 9 March 2008

scuffler said:
nice post.

I like the fact that they have cash and are looking for more projects to buy....producers i hope.....

This stock is a must this year with the current climate.
Is making money from gold...of which 40% is hedged in the high 800 hundreds and 60 % floating......Plenty of cash and no need to put their hands out for more!!

cheers.

Hey Scuffer

I am holding this stock, but they are heavily geared(forgot to check before i bought duh)

Any stock in this present climate that is highly geared is getting punished. THey dont really produce that much gold, off the top of my head arent they aiming for 150k oz ?

My theory is that we wont really see this stock go anywhere, gold prices has climbed quite high but the share price is stagnant. I think its trading lower than oct/dec 07

scuffler · 10 March 2008

well at what price do you think NGF will be when gold hits $1600 plus?
The recent presentation WILL bring extra attention and new backers to the register.
In these times i feel pretty confident of where this one is heading to.
I am sure you have read the presentation...but i just love reading it....over and over and over,lol.

"Norton Gold Fields is one of the largest ASX-listed Australian gold producers. Norton owns
the 150,000 oz pa Paddington Gold Mine, and plans to commence its 50,000 oz pa
Mount Morgan Gold Project as soon as approvals are received. It also has advanced
gold and copper projects, including 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."

scuffler · 10 March 2008

plus look at the top 20.
Not many floating shares knocking around for those investors wanting to get on board!!!

http://www.nortongoldfields.com.au/Investors_Top20.php

Could run pretty soon....dont forget i said COULD!!

happy hunting.:ald:

explod · 10 March 2008

scuffler said:
plus look at the top 20.
Not many floating shares knocking around for those investors wanting to get on board!!!

http://www.nortongoldfields.com.au/Investors_Top20.php

Could run pretty soon....dont forget i said COULD!!

happy hunting.:ald:

Yep, I'm a holder and think when the penny drops we will see exiting things. Could we also be a takover target, good fields are scarce.

urgalzmine · 10 March 2008

scuffler said:
plus look at the top 20.
Not many floating shares knocking around for those investors wanting to get on board!!!

http://www.nortongoldfields.com.au/Investors_Top20.php

Could run pretty soon....dont forget i said COULD!!

happy hunting.:ald:

haha

Yeh reading the top 20 has restored some faith lol.

I hope your right, I hate seeing reds lol

derty · 10 March 2008

The hedging is going to cause NGF to miss some of the upside of the rising gold price which may depress prices a bit unless they can substantially increase output to dilute the hedging.

Also it says they have $40M in convertible notes ( http://www.nortongoldfields.com.au/Investors_Hedging.php ), would this have any effect on the share price at all? I'm not really sure how a convertible note works.

scuffler · 11 March 2008

derty said:
The hedging is going to cause NGF to miss some of the upside of the rising gold price which may depress prices a bit unless they can substantially increase output to dilute the hedging.

Also it says they have $40M in convertible notes ( http://www.nortongoldfields.com.au/Investors_Hedging.php ), would this have any effect on the share price at all? I'm not really sure how a convertible note works.

If 40% of their gold is done and dusted at i think $875 thats hardly low is it??
What was gold last year??

The way we approach NGF is that they are cashed up and looking for other gold
plays which are producing or on the verge of.
Nortons imo are in the position to takeover other juniors where their share prices have come off big time.
40 cents seems to be the base ...and why not when you look at what they are doing and what they have!!!

The notes are so they can call on etra money at any time.

Convertible note is a debt instrument that can be converted into stock at the option of the holder or the issuer. More specifically, the investor can choose to convert the total amount of the note into equity when an institutional investor (such as a Venture Capitalist) makes an investment.

The cost of borrowing is lower for the seller, with convertable notes, since the buyer has the option of converting it into stock. Convertable notes are tools used by large companies to raise capital for their projects and operations. This is known as a debt offering since the company literally goes into debt to the investors until the price of the note is paid back, plus interest, or until it is converted into stock.

The company must record this debt in their balance sheet. If bankruptcy occurs, the note holders are considered creditors and must be paid back by the companies remaining assets. Convertable notes are a way for companies to raise capital without having to use their assets or give up ownership in their company. This leaves their assets free to do other things to generate capital for the business.

If your business is looking for funding then we can help you find the right lender. We have over 4000 lenders in our directory that we have categorized and made searchable. Fill our a few forms telling us about your business and we will give you a free matched list of lenders whose criteria you meet 100%.

Hope this helps.:couch

lucifuge · 22 April 2008

Positive news released for NGF today.

"Paddington Gold Resource Increased to 4.8 Million Ounces"

Also on a technical note, since late March 2008, the share price has been in an ascending triangle. Today, it appears as though it has broken that resistance.

tigerboi · 9 May 2008

Had some of these for awhile now just like HEG,very undervalued & the presentation just shows how undervalued they are...keep this in mind:they are cashed up & have 2 ex felix board members...reckon they gonna grab another coal project up qld way..gut feeling..

leigh_munro · 16 June 2008

I am thinking of topping up with a few more of these... Due to some ongoing power issues in WA the price has dropped from the high .30's down to .24c over the past week.

With the planned merger with Bellamel Mining hopefully going through soon as well as the Mount Morgan project comming on line early next year it's looking like a good time to buy..

urgalzmine · 16 June 2008

leigh_munro said:
I am thinking of topping up with a few more of these... Due to some ongoing power issues in WA the price has dropped from the high .30's down to .24c over the past week.

With the planned merger with Bellamel Mining hopefully going through soon as well as the Mount Morgan project comming on line early next year it's looking like a good time to buy..

Dude have you read the most recent ann?

let me point out this :

" Cost impact on purchased power (electricity) is estimated to be an increase of $1.6M per month over 3 months"

and also

" Norton’s typical monthly charge prior to the supply interruption was around $600,000 which
equates to a rate of $90 per megawatt hour. Norton has modelled a number of different
cost rates and at an average rate of $400 per megawatt hour we expect to incur an
additional $1.6M in electricity costs per month. This estimate is subject a variance of +/- 50% based on possible spot prices. This equates to an additional $140-$160 per oz on our unit
operating costs of approximately $625/oz (150 koz annual rate of production). "

and lastly...

"
Short-term impact on cash balances is estimated to result overall in a small operating surplus or at worst, break-even "

and yes I know it says short term, but really... its a huge blow to NGF

lucifuge · 17 June 2008

Well said. I was also surprised to hear of the consideration to top-up with more. I have held this since March 2008, so not too long, but it hit my stop-loss today. I had to dump them. I sincerely hope it pulls back for the faithful, maybe it's just getting more hammered because of the market in general and gold prices of late.

urgalzmine said:
Dude have you read the most recent ann?

let me point out this :

" Cost impact on purchased power (electricity) is estimated to be an increase of $1.6M per month over 3 months"

and also

" Norton’s typical monthly charge prior to the supply interruption was around $600,000 which
equates to a rate of $90 per megawatt hour. Norton has modelled a number of different
cost rates and at an average rate of $400 per megawatt hour we expect to incur an
additional $1.6M in electricity costs per month. This estimate is subject a variance of +/- 50% based on possible spot prices. This equates to an additional $140-$160 per oz on our unit
operating costs of approximately $625/oz (150 koz annual rate of production). "

and lastly...

"
Short-term impact on cash balances is estimated to result overall in a small operating surplus or at worst, break-even "

and yes I know it says short term, but really... its a huge blow to NGF

urgalzmine · 17 June 2008

lucifuge said:
Well said. I was also surprised to hear of the consideration to top-up with more. I have held this since March 2008, so not too long, but it hit my stop-loss today. I had to dump them. I sincerely hope it pulls back for the faithful, maybe it's just getting more hammered because of the market in general and gold prices of late.

yeh i had to dump my stock too, really hurt i bought when it was near its highs, wats really annoying is that we haven't heard anything about homestead mine.

good luck with punters out there still holding these...

leigh_munro · 3 July 2008

I'm still tempted to by a few more of these while the price is down....

Good News in the last couple of days....

Initial drilling results from the Middlemount mine has indicated the an open cut coal operation is possible.

Normal power supply has been returned earlier than expected....impact has been limited to 10 days of lost production...

We also have the BMM merger comming up...

kkyyoo · 1 August 2008

So anything new with the Co nowadays ?

only the BMM merger and the release of the June 2008 qtr report

I guess we gotta wait till the merger being implemented on Aug too see any significant movement

kkyyoo · 8 September 2008

Share price going yo yo at the moment ...

65% acceptance on the merger.... still 25% to go and deadline of 19 Sept... around 2 weeks ... anyone thing the merger will go on ahead ?

leigh_munro · 24 September 2008

Does any one have any idea whats going on at norton today? Price is up from .16c to .24c with no significant news other than they now have over 90% acceptance in the BMM takeover?

justiceotp · 19 January 2009

Has anyone recently taken a look at these guys? At under 10 cents a share they would have to be coming into some value now. I picked up a few today see how they go long term.

NGF - Norton Gold Fields

explod

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