Ann: Status of Norton Gold Hedge with Lehman Brot, page-14

re: Ann: Status of Norton Gold Hedge with Leh... BH

Thanks for all the help in clarifying this matter.

I still like NGF longer term so I bought some more today at 25.5 cents.

It would not surprise me if it did fall back, but it could also go higher as its potential gets greater market recognition. Some positive re-rating has already occurred but I think even on a gold pullback to $900US it could maintain a share price in the low 30 cents.

One of its main attractions is that it does have an 8 million ounce gold resource so it could attract a takeover by a major producer with greater ability to operate the mines more effeciently.

I have also noticed there seems to be a lot of buying towards the end of the day as if it were being accummulated. May be I am just dreaming this.

loki