why ngf cash cost is so much higher, page-2

Hi KSS,

They had mined a low-grade pit (Janet Ivy) which they have now finished using (unless gold goes alot higher) and are now focused on Navejo Chief which is 3 x the grades approx. Also done alot of development work on Navejo and underground at Homestead. Guts is the next 2 quarters they should be able to get costs down 20-25% and as logn as gold stays 1400-1600us then Norton will look a much better prospect come Sept/October.

Theyve had cost issues for 2-3years so they need to get the runs on the board before the market will give them the credit for it.

Hope that helps

Arbroath