re: Ann: Norton to raise $27.7m at 31% premiu... "Once its...

re: Ann: Norton to raise $27.7m at 31% premiu... "Once its balance sheet is strong enough Labuschagne is keen to get into merger activity which is sweeping the gold sector, and sees Norton as a predator rather than target.

"If I can help it, I'll do it," he said, adding that Norton would look at takeover opportunities in Australia and offshore."

Not an overly positive comment from the MD. I can't help but think NGF is still in a weak position from which to launch any appreciation in the share price. The quarterly production figures did not help... we have waited for a really good quarter for too long. Debt on the balance sheet is the enemy of all investors atm, and I don't think this is going to change for a long time.

It seems the only thing that will save NGF is a rapidly increasing gold price.

I have to disclose I sold all my NGF holdings recently after many patient years. I am glad to be out, even though the price has gone up 20% since I sold.