Hi Alhart,For all holders here I hope I am wrong, but I have some fundamentals queries that keep niggling at me with this stock, hopefully some long termers can respond and clear these up. Feeding the mill is nothing new in Norseman, both WMC in the late 90's and Croesus had the same problem, when Croesus picked it up they worked of a plan set out by WMC but they unfortunately didnt seem to have a forward plan themselves, when they realised this it was to late for them. But in saying that, Croesus did set up the ST-Pats ore body, they also reviewed de-watering the old Morning Star incline Shaft that gave them access to the top of the Norseman reef I believe?. They also had a look into re-entering the OK Mine for pillar recovery from the 5 level down and review Stopes that were not taken in the old days due to the then Gold price, even the Open Cut which name alludes me got a push along at the time and all for the same reason a 'hungry mill'. Do I think the current owners have got it right, well I believe they are on the right track and unfortunately are in a 'hand to mouth' scenario ATM, when I read about new 'Mines' coming online I only see old ones re-instigated, I would rather read a New Mine as being another Bullen or Harlequin something that push's Norseman out beyound 5yrs and I am sure this will only be a matter of time, but until then, feeding a hungry old mill could be reflected for some time? These are just my interpreted views only and welcome being stood corrected. Will watch closely for the right time to jump on.
NGX Price at posting:
76.0¢ Sentiment: None Disclosure: Not Held
