Nordesmic............, page-2

Been a bit busy recently so haven't been posting much.

The stage 2 years of the BFS disappointed me and I think was what disappointed the market. I immediately saw this pre-market on the day of the release and was tempted to sell some but got distracted (sometimes day job interferes with share market unfortunately!). Then I took my medicine and sold some in the afternoon after it had fallen another 10%.

Anyway I still hold 2/3 of what I had. The low capex means the project still has a good chance of going ahead as it doesn't have the massive financing hurdle of companies such as CMM. Really going to be relying on finding more viable ore for stage 2 as current gold prices wouldn't be that supportive.

Longer term I am still a firm believer in higher A$ gold prices. Stage 2 is going to be more of a leveraged play now. NST involvement still unclear. Ramone and other pits they have found to the north would help fill the mining schedule. That ore is not going to be processed at Jundee given the grade so Bronzewing may still be worthwhile for them.