HI Dapper,
re: Norton, I am sure IK would have done a due diligence on the profitability of the mine, as would any CEO do when acquiring an asset for any company. I assume that the company charter/policy requires people (when acting on behalf of the company) to perform a base ROI analysis when purchasing an asset that will be reflected materially on a balance sheet.
Your point re: gold is an interesting one, but I politely differ on this. Although I agree the POG is well down on historical prices, it has stabilised and risen over the past quarter. have a look at this chart (click on 1Q for the view I am referring to).
http://www.bullionvault.com/gold-price-chart.do
If we assume IK did his due diligence, then any profitability at this stage would still be valid. However, I do take your point, any further weakness in POG could affect how profitable Norton is. Although, most market analysts think the bottom is in for POG, so....well, who knows really !!
IMO IK hasn't shared the expected profitability as he needs to sort the costs and tasks first. If he ann's too early and the POG changes (for better or worse) than all of his calcs will be out. So Im not worried that it hasn't been produced yet, but I am expecting something from IK in the next month or two.
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