Worth taking a look at the TA and the Fundies.....

Bought a few Norseman Gold this morning. The weakness of the dollar and the rising SP of gold looks like it could help the mining explorers and producers over the autumn to next year.

Think Tom Winnifrith tipped this a few weeks back.


Target first stop 55p and then 60p resistance.

Looks weak now.

Time to buy.....forecasts of 120000 ounces to be met......graph looks great and the market cap is a joke !.

Do you think Barry Cahill will deliver these plans in the next six months? The last six have not gone well.........can't decide to sell at a loss or hold

Hold and add.......way undervalued...and good news will come....

It is too early to call this a buy.

Norseman raises cash, lowers production guidance
Wed 16 Feb 2011

Norseman Gold 45.50p -0.55%

Australian gold producer Norseman Gold has raised 10m through a placing of 22.22m shares at 45p each. The funds raised will be used to bring the company's North Royal open pit into production, and to provide additional working capital.

The company is hoping to produce between 120,000 and 140,000 ounces in the full year 2011/12, but for 2010/11 it expects full year production to be 65,000 ounces, a reduction on previous guidance.

The reduction in the forecast production profile is attributable to three main factors: the decline in performance of the existing operating mines at Bullen and Harlequin during the first half of the year; the slower than expected ramp up to full production for the OK Decline due to various infrastructure and access issues which are now resolved; and the reduction in available hard rock feed from the North Royal open pit which has reduced the amount of soft oxide material that could be treated in the early stages of the mining schedule at the pit.

Got my timing wrong on this but it might worth a punt at these levels....repeating myself...way undervalued...

Well, this has turned out to be a disaster.....now and again ; you get one like this....

The OK Decline has continued to make slow progress in its ramp up, and the existing underground mines, Bullen and Harlequin, have continued to struggle to lift production to acceptable and forecast levels with treated tonnage and grade below expectations.

Hands up....I got it 100%wrong....would you believe it ? a loss making producing gold mine !.

Down to poor management. Despite capital raising end of last year, NGL is really struggling now.

Wish I'd sold out on last high but did'nt .... suffering now.,.

Dumped at a bad loss....along with DES....those are the worst for me this last year but cannot complain overall....but this is a bad setback....

NGL is a lousy share, but I remember Shares mag was promoting it last year.

Made big losses this quarter... not impressed with the management.

Norseman Gold, the AIM-listed and ASX-listed Australian gold production company provides the following guidance on its anticipated profit for the year to 30 June 2011, which is currently expected to show a loss of between A$13m and A$14m before tax and abnormal items, with full year gold production of 50,173 ounces. Preliminary results for the full year will be published on or before 31 August 2011.

The fourth quarter of the year saw ore production from the four mines during the quarter increase on previous quarters by some 16% and gold production increase by 27%. The quarter's results were impacted by weather conditions particularly during the last week of the month of June which restricted haulage ability and hence milling throughput and gold production.

Kevin there appears to be a thread already.

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The future looking bleak @5p.