citychap2011
23 Dec 2015
NMG 0.09p to sell - Greg Kuenzel fails Well as Greg Kuenzel puts his feet up for the winter period the market is unimpressed with the Aussie's BS transformational story and the share price has now dropped to 0.09p to sell. At what share price will the $3m fundraiser take place 0.05p? or lower? Our hapless CEO has overstretched NMG. The company has too many worthless assets and no cash to transform anything. All we have seen is the destruction of shareholder value. Vote to oust Greg Kuenzel at the AGM next year. Greg Kuenzel has failed and he shouldn't be allowed to continue drawing director fees.
citychap2011
17 Dec 2015
Greg Kuenzel - Bul-nisi-sh1te update Well more BS from Greg Kuenzel our hapless CEO and Bullsh1temeisterNMG have allegedly started a drilling campaign at the start of winter in Georgia with temperatures currently at -2 degree C in Tbilisi. Don't expect much if any progress over the winter. Our part-time CEO will be sitting back with his feet up anyway.Mr. Mark Owen was appointed as Technical Director on 7 Sep (three months ago) and only now NMG is getting around to thinking about a drilling campaign in Georgia? Great progress!The market and shareholders are unimpressed again Greg Kuenzel and another fall in share price reflects that.0.10p is here and expect lower ahead of a US$3M fundraise involving sophisticated investors (read this as friends of Greg and the BOD)All IMHO. DYOR
citychap2011
09 Dec 2015
Greg Kuenzel is no Rod McIllree So interesting to see Rod McIllree, former NMG NED, and newly appointed MD of FinnAust mining has led FINNAUST to acquire an initial 60% interest in high grade Pituffik titanium project in Greenland. The acquisition is, however, very diluting for existing shareholders with an acquisition price of £0.9 million satisfied through the issue of up to 164,655,885 shares. Although another 10 million shares are placed at 2 pence (which is above the current share price) to raise £200,000 with major shareholder Western Areas Limited ('Western Areas') and Bluejay Placees allegedly demonstrating strong support for the Company and the Pituffik Project. Despite the dilution the market and FINNAUST share price have responded favorably rising from its 0.5p all time recent low to as high as 1.7p earlier today.So what has tired old hapless Greg Kuenzel delivered for NMG. Well nothing much we have too many projects non of which are proven JORC resources and insufficient cash to progress any of them.This means more dilution to come as NMG needs to raise US$3M this year ad next year. The market doesn't believe Greg Kuenzel's "Transformational acquisition' BS story. Greg Kuenzel has spent 4+ years doing nothing with NMG assets in Austria, he is unlikely to prove up resources in Georgia any time soon if at all. Time for you to step down Greg Kuenzel, so we can find a effective CEO who will deliver some operational progress and hopefully shareholder value.
citychap2011
23 Nov 2015
Re: Bolnisi Equity placing US$3 million due ... Alecto Minerals have this morning announced a placing to raise £1.54M by issue of 943,750,000 new ordinary shares. This significant dilution has knocked 33% off the ALO share price. How low will NMG share price go when Greg Kuenzel announces the next placement to raise US$3M for Bolnisi? We'll be down to 0.08p probably lower.
citychap2011
17 Nov 2015
More positive Aussie BS 0.115p to sell The latest Bolnisi saga drags on with little progress and the share price continues to slide. Perhaps the next placing will be below 0.1p. We could be at 0.1p very soon. Well done Greg Kuenzel! Time to resign.
citychap2011
05 Nov 2015
Bolnisi Equity placing US$3 million due when? · Noricum Gold is required to spend US$6 million over 2 years on exploration and development, after which CMG is required to contribute or dilute;DYOR
citychap2011
02 Nov 2015
Greg buys shares with loose change? Greg Kuenzel buys NMG shares with £20K of loose change?Don't be surprised if this purchase turns out to be funded from an increase in Directors fees for the current year. The BOD may already be rewarding themselves for poor performance but there has been no increase in shareholder value.This happened last time their was small scale Director Dealings. See my post of 26 June 2015 entitles "Dubious Accounting Practices?"I'd be very surprised if Greg has actually bought these shares with his own money. Hardly making a significant investment in NMG anyway.The market continues to be unimpressed because until the resources can be proven by JORC they have no value. In any case expect a major placing towards the end of the year my guess is 0.1p to sophisticated investors (read this as mates of the BOD).In the mean time the traders will continue to trade NMG on the Aussie promoter BS news flow.All IMHODYOR
Tatty
28 Oct 2015
Greg coughs up 20 grand. About time he put some money where his mouth is. I wonder who he got to give him the money?
citychap2011
22 Oct 2015
Greg Kuenzel panics over gold price This interview usefully highlights how our hapless CEO Gregg Kunezel is out of his depth, cracks under pressure and continues to mislead investors with Aussie promotional BS."Major resource developer" Hmmm really. Prove it with JORC."Significant JORC resource already in place" at Bolnisi? Where's the RNS then?"where all...er...majority has been drill-defined""Focusing now on resource to JORC" so it's not already in place then."Near term production potential". HmmmProduction within 12 months. BS! This has be stated to hopefully avoid being booted of the board at next years AGM.Classic moment. 12 minutes into the interview Greg is asked by Zac Mir at what gold price the project becomes no longer viable. Greg has a complete panic as he has no idea and Martin Churchouse doesn't come to his rescue, because Martin doesn't know either. They haven't done a Definitive Feasibility Study. I am more than happy to be proved wrong.DYOR
Tatty
22 Oct 2015
Re: Greg Kuenzel Interview I'll believe it when I see it. I'll be stunned If these guys start mining within the next 12 months.I got the impression Greg has effectively abandoned Austria but didn't want to admit it.Clearly they will need significant capex to get things running in Georgia so I just expect more dilution and favoured issues to cronies and favourites.
citychap2011
14 Oct 2015
Parcelling up unmined leases for shares This is an old article but the strategy of finding mineral resources in obscure places, and parceling-up these long-held, but unmined, leases in order to swap them for large parcels of shares continues.Companies like Noricum are picking up potentially worthless assets in exchange for shares, which are then potentially sold into the market. [link] Minerals is a company that previously nudged Noricum Gold into four Austrian prospects. Noricum has a number of Australian connections.The seller of the gold assets to Noricum was Queenslander Bill Murphy jnr. Bill put them in another British company, Alpine Metals, some years ago and planned to float them himself until the financial crisis.The worrying connection is with former Perth broker Damian Conboy, who was a director of Exchange Minerals and based in London. Damian was also a shareholder in Noricum. Damian Conboy was barred by Australian Securities and Investments Commission from acting as a representative of a securities dealer or an investment advisor in Australia for a period of two years. Mr Conboy was found to have not performed his duties efficiently, honestly and fairly and was not a fit and proper person to be a representative.The Greenland Minerals and Energy directors Rod McIllree and Jeremy Whybrow were both involved with Noricum's formation, with Rod previously a key adviser and still a shareholder?GME is a long-term client of Exchange, and clearly McIllree found some time while in London to work with Noricum.There was allegedly some confusion in how GME directors filled out their shareholding filings, at the time neither McIllree nor the director Simon Cato had sold their GME options that they converted to shares.Is it just me or is there something fishy going here?DYOR
Tatty
07 Oct 2015
Re: Greg Kunezel - Walchen gold Citychap I agree with everything you say here. I'm stunned the AIM lacks suitable governance guidelines and rules to prevent crooks like these to continue to bleed shareholders dry while feathering own and associates nests by cronyism and favouritism.Just what is the strategy here? Maybe AIM should have a sub market called AIMLESS.
citychap2011
07 Oct 2015
Greg Kunezel - Walchen gold More BS from the Aussie accountant and stock promoter Greg Kuenzel. There is little gold at Walchen. The company highlight reports 0.8g/t but if you read down most of this is in the range 0.31 - 0.5 g/t. Comparing to Schonberg grades this is probably barely commercial. · NG-1104: 6.15 g/t of gold ('Au'), 16.25 g/t of silver ('Ag') and 4.7% copper ('Cu') · NG-1106: 5.01 g/t Au, 8.84 g/t Ag and 4.67% Cu · NG-1107: 6.46 g/t Au, 5.63 g/t Ag and 1.81% Cu · NG-1111: 33.8 g/t Au, 31.1 g/t Ag and 8.14% CuHow can our part-time and seasonal working CEO Greg Kuenzel possibly give the company's array of projects the required attention they need to get them anywhere near to proving up resources never mind actually mining anything.Particularly given that Noricum Gold has virtually no money and will be coming to the market very soon with major equity placing guaranteed to significantly dilute existing shareholders. Greg has too many fingers in too many pies to make any tangible progress. The board are only interested in spinning this out for as long as possible so that can continue to draw salaries and Greg can charge consultancy fees to Noricum for his consultancy firm Heytesbury Capital Limited. Greg needs to go.
citychap2011
06 Oct 2015
Greg Kuenzel - Bul-nisi-sh1te update Well the market is unimpressed. Until the Georgian assets can be proven JORC resources they are worthless.Greg still hasn't proven up the Austrian assets, which the company have held for over 4 years. If the Austrian assets were worth anything NMG would have sold them.IMHO if the BOD ever make any progress in Georgia there will be a pump to suck in new investors ahead of a major dilutive equity placing to sophisticated investors (friends of the BOD) probably between 0.05 and 0.1p NMG have no funds to progress any of the assets.Greg needs to go.
rRomeo29
21 Sep 2015
Re: Shares Mag Article ...are you the only on in this c r a5p, Citychap??According to your posts that is.Ähmm, from TA point of view mid term NMG is heading down towards 0.09p and 0.05p. But its always best to ckeck for yourself anyway:[link]
