NST's Paulsens mine was put into shutdown mode, and then sold to Black Cat mining (BC8) a few years ago, for 40 million dollars, from memory.
BC8 has now refurbished the mine and is about to start production, if it has not already started. About 4gms a tonne I think, with both above ground and below ground mining.
Paulsens may not have made money for NST, with gold at about $AUD2500 an ounce, but at $AUD5000 an ounce BC8 should be on a rocket ship.
Moral of the story, best not to sell an asset, as BC8 is about to do to NST, what NST has often done to other companies, those who want to off load under performing assets!
BC8 also has a second mine and an additional mill, firing up in Kalgoorlie, so they should be one to watch.
For some reason, I always had a soft spot for the Paulsens mine, and I wish it was still in the hands of NST.
I guess if BC8 falls over, then NST can always be sitting like a vulture on the fence, ready to pick up the ruins!
However, if BC8 flies, then Paulsens will be 'one that got away'!
NST Price at posting:
$18.32 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)