Fair comment, but new Exec Chairman Kevin Maloney, is now the driving force at Norseman. He's pushed NGX back to old fashioned mining methods and costs are thought to be around $1,150 to $1,250 per ounce.
The last quarters results are due in the next two weeks and are expected to be a lot better than the previous quarter with more high grade ore coming in from North Royal. Maybe a surprise at 9,000 - 10,000oz and costs below $1,250oz. That should lead to a profit in that quarter.
trading halt, page-3
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