article in sydney morning herald

Check it out if you have not seen it yet.
http://news.smh.com.au/breaking-news-business/norton-not-vulnerable-to-zijin-takeover-20110801-1i7bf.html

Interesting points were that Zijin is China's second largest gold miner and that Andre Labuschange stated he does not know their intensions. He will meet with them in the comming weeks.

He does not believe we are vulnerable from a takeover as they have quite a few other shareholders who purchased in at much higher sp than we are currently trading at.

He believes we should be re-rated once debt is reduced to $30 million.

My theory on this and the past few months is that the two previous board member may have resigned because they were against the share placement because they did not want a takeover to occur. Zijin is China's second largest gold miner so I can't see them wanting to just invest in Norton.
I guess we will find out their intension once the board meet with them.

The good news is that should Zijin want to take over the company they will receive resistance in my opionion unless it is atleast 25+ cents a share. That is what the large share placement price was in 2010 so it owes major some investors far more than the current $0.135 (current sp).

I also can't see gold dropping dramatically in the short term. There may be a short term big drop if investors that are heavily leverged have to sell out of their gold stocks and of course the panic factor that we all know hits during tough times. But if that occurs gold will bounce back quickly as investors look for safe investments. So if Zijin does not takeover Norton we are still invested in an undervalued stock that should re-rate once the debt is reduced.

At this sp it is a buy