Noricum Gold Live Discussion

citychap2011 03 May 2016

Re: Aussie BS, Greg Kuenzel & Landau Surprisingly the market, or some speculators at least, seem to believe Greg Kuenzel's story that Norcium can just shovel up the heaps of gold lying around on the floor in Georgia into trucks and drive it a couple of kilometres down the road to the partner's mine for processing. Practically free gold right? Really?But the resource hasn't been proven and no agreement has been made for processing or any indication of the metrics the cost of processing $/oz or the likely profit $/oz. Hmmm.With the AGM approaching on 23 May 2016 at The Washington Mayfair Hotel, 5 Curzon Street, London, W1J 5HE at 100 a.m. BST, Greg Kuenzel wants to save his skin and make shareholders believe he is a man to deliver but he hasn't in the past with Austria, so why should anyone believe the glorified Aussie Company secretary will this time? Just slightly more believable than Greg Kuenzel's Aussie mate and former colleague, Peter Landau's last BS venture. Pirate Pete Landau's gold at the bottom of the sea with Black Mountain Resources. Priceless![link]

loadsadough 29 Apr 2016

Re: Stan Weinstein for NMG Its doing well so far my ISA is now up 35% with NMG. Keep going well NMG.Loadsadough

citychap2011 27 Apr 2016

Aussie Bull, Greg Kuenzel & Landau Greg Kuenzel's Aussie friend and former colleague at Centurion Resources (now Finnaust Mining), Pete Landau, has received a judgement from the FEDERAL COURT OF AUSTRALIA for his illegal handling of shareholder funds from Continental Coal's right's issue. Continental Coal is being liquidated to put a stop to Landau's mismanagement of shareholder funds.Interesting to see Pirate Pete desperately trying to bullsh#t the court that he has a rescue deal in place right 'til the end, but the judge concluded "The whole proposal lacks any detail as to implementation and completion." This is true of a number of Aussie AIM CEOs including Greg Kuenzel.[link] In the Court’s view, the defendant’s latest proposal, just outlined by reference to Mr Landau’s recent affidavit, should be seen as just that – the latest proposal. The proposal has come forward at the very last minute of this proceeding. The affidavit of Mr Landau in which it is set out, was to have been filed, in accordance with the Court’s orders, by Thursday 14 April 2016. It was not filed until just before the hearing of the application for the appointment of a provisional liquidator on Tuesday 19 April 2016. It very much smacks of a last ditch effort to stave off the appointment of a provisional liquidator, as well as the winding up of the defendant. At the very least, the proposal lacks the sort of content and weight that might lead a court to think that the financial woes of a company are soon to be put behind it. The proposal, at the very least, must be described as highly speculative. It depends, as can be seen, not only on the company discharging its debt arrangements with ABSA and EDF, but also on influential people helping the defendant to achieve a BEE ownership of its subsidiary in South Africa of more than 50%, and then on the defendant achieving an offtake agreement with the South African electricity public utility, Eskom. And even if those challenging steps could be considered likely to happen, Mr Landau, very much in round terms, by reference to a discounted cash flow model which makes a number of presumptions, suggests the project would have the potential to create a $60 million balance sheet differential represented by up to $45 million from the coal project and the ability to remove ABSA and EDF from the balance sheet (at least $15 million). These figures and the method of their calculation, in the circumstances in which they are calculated and have been produced, do not leave the Court with any basis for taking them seriously. The whole proposal lacks any detail as to implementation and completion."

citychap2011 21 Apr 2016

AGM 23 May & Resolutions The AGM is at The Washington Mayfair Hotel, 5 Curzon Street, London, W1J 5HE at 100 a.m. BST on 23rd May 2016.RESOLUTIONS1. Financial Report, Directors’ Report and auditors’ ReportTHAT the Financial Report in respect of the Company and its entities for the year ended 31 December 2015, together with the Directors’ Report in relation to that financial period and the Auditor’s Report in respect of theFinancial Report be approved.2. Reappointment and Remuneration of AuditorsTHAT PKF Littlejohn LLP be reappointed as the auditors of the Company to hold office until the conclusion of the next annual general meeting at which accounts are laid before the Company and to authorise the Audit Committee ofthe Board to determine the auditor’s remuneration.

citychap2011 20 Apr 2016

Final Results & Director Remuneration Lots of shares appear to have been dumped this morning following the release of the Final Results.One positive seems to be that NMG have reduced the loss for the period ended 31 December 2015 to £653,854 (2014: £1,372,756), and are allegedlyfully funded for production following raising of £1 million post period end. Although Greg Kuenzel either doesn't know or isn't disclosing the cash cost in US$/oz, so how can they know they are fully funded? And if they do know why the secrecy? IMHO don't know and will be fund raising later in the year.At first glance it looks like Greg Kuenzel has taken a pay cut with his Director fees of £31,500 for 2015 down from £94,667 in 2014.However, Greg has this nearly year tripled his consultancy fee paid via Heytesbury Capital Limited, a fee of £45,166 (2014: £15,333) for management and corporate consulting services.Is Greg Kuenzel going prove up resources and achieve production? Roderick McIllree has taken a pay cut down from £45K to £20K.However, what value does Marcus Edwards-Jones add to the board? Still paid the same fee at NMG Chairman. Time for Marcus to go.

citychap2011 18 Apr 2016

Greg Kuenzel, Peter Landau, Marcus EJ [link] applies to wind up Continental Coal to protect stakeholders from the corrupt business practices of Greg Kuenzel's fellow Aussie mate and former Non Executive Chairman of Centurion Resources (now Finnaust Mining), the notorious Peter Landau. Noricum Non Executive and former Noricum Chairman, Marcus Edwards-Jones worked closely with Peter Landau at Range Resources until he was fired at the AGM on 28 Nov 2014.Peter Landau has consented to interim asset preservation orders over his personal assets, and the assets of Okap Ventures Pty Ltd and Doull Holdings Pty Ltd (of which companies Mr Landau is sole director). Peter Landau may be looking at jail time for the financial ruin he has caused shareholders in the companies he and his business associates have severely damaged.

loadsadough 18 Apr 2016

Stan Weinstein for NMG The NMG chart is good. The 50 line has crossed over the 200 line recently and the chart is in S2 at the moment. Both the momentum, and RSI have done well this year. Plenty of trade sales have picked up recently. The price of gold has risen this year. I will follow Stan's book as I always do and see how it works for NMG. This is the first time for a long time the chart has looked so good.Stan Weinstein book available from Amazon. We use it on the ACTA board regularly and it does us well. Thank you for your information, I prefer the S W book. Lets see how it goes, I always have a stop loss available for all companies that I buy if something goes wrong. Loadsadough

citychap2011 18 Apr 2016

Director Fees & NMG losses [link] shareholders voted against their Chief Executive Bob Dudley's pay deal for 2015 after it recorded a record annual loss. Bob Dudley's 2015 pay and benefits increased by 20 percent even though the company reported steep losses.Last year NMG Directors awarded themselves a 17% pay rise having made a £1.4M loss, the worst loss NMG has made over the last 4 years. Greg Kuenzel couldn’t turn a profit when the gold price was at a record high what chance does he have now?Bear this in mind when the time comes to vote for the Director remuneration report at the AGM in May/June. Vote against the Director remuneration report.

citychap2011 18 Apr 2016

Next placement June 2016? Noricum Gold has a commitment to spend $6 million on Bolnisi over two years.NMG has spent £1M (approximately US$1.4M) since July 2015. Doubt there's much left of that £1M after the recent initial drilling campaign.IMHO a further £1M will be raised perhaps around or just after the AGM in May/June at a price 0.08p. More funds needed to pay Director fees.Directors and sophisticated investors will be picking up shares again, which were dumped at 0.16p. Rinse and repeat.NMG still has no proven JORC resources at Bolnisi and Greg hasn't provided any metrics to believe management have the capability to ever produce any gold. Where will the funds come from to get NMG into production?Take Amara Mining for example, which recently sold to Perseus Mining because while they have a excellent proven asset, management didn't have the experience or access to funding to be able to move into production.So what is so special about Greg Kuenzel and fellow NMG directors that they believe they can raise enough funding and manage the production at the yet unproven Bolnisi? Does Greg have a track record as a CEO of a producing gold mining company? No he doesn't. Greg has failed to prove up any resources within the NMG portfolio since the company started.

loadsadough 18 Apr 2016

I'm in Keep going NMG. You have a good chart, and money raised to bring forward gold by later this year.Loadsadough

citychap2011 11 Apr 2016

Down again 0.1429p to sell nm

citychap2011 06 Apr 2016

SP rises but a false dawn? Greg Kuenzel finishes drilling Bolnisi more or less on time. I guess there's a first time for everything, but then a second drill rig was brought on site to drill 80% more holes. Well that's probably the £1M cash raised by the last equity fundraise now spent and NMG will need another placement to continue to pay Directors fees (who have done quite well since they awarded themselves shares at 0.08p. No open offer to long suffering shareholders though). Cue further significant dilution of existing shareholders to follow. Very little chance of seeing NMG's IPO share price of 6p. Only another 3800%+ rise from here.Greg Kuenzel writes:"Mine planning is now at the top of our agenda following completion of this drill programme, which will provide us with an initial resource for Kvemo Bolnisi.We look forward to providing the results of this, and using them to rapidly deliver on our plans to commence first gold ore production in Q3 2016." Now top of the agenda Greg? So what exactly has Mr Mark Owen, Senior Adviser, been doing to prove up Bolnisi resources since he started 7 months ago on 7 Sept 2015. Shareholder's understand that Martyn Churchouse wasn't up to the job having failed to get Nyota Minerals metrics right for Tulu Kapi project leading to KEFI Minerals having to take over."The costs associated with the mining are expected to be low, with no capital expenditure requirements, as a result of the lack of stripping required and access to our local partner's infrastructure and processing equipment."Low costs Greg, really so what is the cash cost in US$/oz then? You don't seem to have any idea or want to tell your shareholders. Yet you'll allegedly be producing gold in Q3. Really?"This initial programme will importantly act as proof of concept of the conversion of Soviet style resources to JORC, will confirm the position of Georgia as a modern and reputable mining jurisdiction with a well structured regulatory environment for mining approvals, and also, will see the establishment of an agreement with our local partner to mine and process the ore generated by the initial production target. All of these factors will contribute to the continued development of what we believe has the potential to be a world class asset." Initial programme? Proof of concept? So Greg Kuenzel will be doing more drilling and will need to raise more equity through further share placements before NMG will know whether Bolnisi has any potential? Wait a minute haven't we been here before with the Bonanza Austrian assets? What happened there then? Oh yes that didn't work out after several years of expensive drilling. And in parallel advancing the second starter pit target at Tsitel Sopeli. Spreading the company very thinly across two many projects? Non of which have proven resources yet and hence no tangible value.Tune in next time for the next installment of the Greg Kuenzel Aussie BS News flow.

Tatty 06 Apr 2016

Drilling Completed? Really? How unusual. Must have run out of drill bits so now they have to turn to the shovels. Hang on though. Do they have any shovels? Oh no they'll probably need another placing to buy some.

citychap2011 04 Apr 2016

0.121p to sell nm

citychap2011 04 Apr 2016

Greg Kuenzel - No transformational BS Drilling and mine planning continues at Kvemo Bolnisi ahead of first gold production planned for Q3 2016?Second drill rig brought on site - campaign expected to be completed by end of March 2016?No transformational Bolnisi-sh1te news flow today from hapless CEO and Aussie promoter Greg Kuenzel. Greg advised he expected drilling to be completed by the end of March 2016.No surprises there. Greg Kuenzel has been over promising and under delivering for years at Noricum Gold. He has know idea about the metrics required to achieve near term production.Vote against the Director Renumeration report at the AGM in May/June. Trigger an election of Directors.