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Norseman Gold – A total Disaster But NOT a write off although in Administrator (at subsidiary level)

By Tom Winnifrith | Wednesday 3 October 2012


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM and ASX listed gold Miner Norseman Gold ( NGL) has been a truly disastrous tip from me (37p in July 2009). The shares are now suspended and will remain suspended for a good while as it has just put its operating unit into administration. It sounds as if it is end game but it is not. I cannot say it is good news but do not give up the ghost yet. This is why.

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