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26-04-2024, 01:10 PM
#9351
Originally Posted by Paint it Black
http://nzx-prod-s7fsd7f98s.s3-websit...147/417397.pdf
So the quarterly is attached. Good updates thanks NTL showing good work but unfortunately fairly predictable re DOC delays and the likelihood of another capital raise. At least DOC acknowledge their processing of a straight forward access approval (which is basically a renewal) is unacceptable and undertake to provide a decision in June, The processing route decision will go to the Board in the near future with the possible use of a modular plant. Whether this is a concentrator or full processor is unclear.
Much more clarity in this report which is good to see.
I like the debt facility and it appears like the DOC approval is all but time.
Interesting that they couldn't come to terms on treatment of the concentrate. As mentioned, for many existing operations the small tonnage could be more hassle than its worth.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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26-04-2024, 01:52 PM
#9352
IMO I see despite DOC's best endeavours to to frustrate the approval process that the gold price has risen 35 % so thanks for the help and Im sure that with the pending possible C R it will be fully accepted.
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26-04-2024, 02:19 PM
#9353
What numbers/amount are shareholders picking for the capital raise requirements to carry them over until the cashflow covers outgoings?
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26-04-2024, 04:13 PM
#9354
Member
Originally Posted by Toddy
What numbers/amount are shareholders picking for the capital raise requirements to carry them over until the cashflow covers outgoings?
My stab is. Shares issued 500 million.
Rights offer is 2 for 3 @ 2.0c and there is a 25% take up = $1.67 million. This assumes DOC approval in place and processing route established to make the 2.0c attractive.
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26-04-2024, 04:37 PM
#9355
Member
That's all very well, but will the mine ever get operating, it's going to be another year.
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26-04-2024, 04:41 PM
#9356
Originally Posted by Paint it Black
My stab is. Shares issued 500 million.
Rights offer is 2 for 3 @ 2.0c and there is a 25% take up = $1.67 million. This assumes DOC approval in place and processing route established to make the 2.0c attractive.
With the debt facility in place I would hope NTL would only need to raise half that amount or less I.e $500k ish.
Effectively they have $1.2M of liquidity at the moment with the bank facility and that's not accounting for the $200K placement with Terra Firma which I'm not sure is accounted for.
Perhaps Terra Firma might be up for another $500k if they have the processing route sorted. But that's being optimistic.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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26-04-2024, 05:17 PM
#9357
Member
Originally Posted by Daytr
With the debt facility in place I would hope NTL would only need to raise half that amount or less I.e $500k ish.
Effectively they have $1.2M of liquidity at the moment with the bank facility and that's not accounting for the $200K placement with Terra Firma which I'm not sure is accounted for.
Perhaps Terra Firma might be up for another $500k if they have the processing route sorted. But that's being optimistic.
My read from the quarterly is Terra Firma needs to carry out another $200K worth of work for further shares. Obviously this relies on trust between the two parties to fairly evaluate the work done.
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26-04-2024, 06:29 PM
#9358
Originally Posted by Paint it Black
My read from the quarterly is Terra Firma needs to carry out another $200K worth of work for further shares. Obviously this relies on trust between the two parties to fairly evaluate the work done.
Sure, but I see it as a quick & clean way of raising necessary capital.
Having an overhang of a capital raise over the SP for a long period of time doesn't do anyone any favours.
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30-04-2024, 01:27 PM
#9359
So it's now a year since what was to be the final capital raise. We were also promised we would be mining and cashflow neutral by the end of 2023.
So what has actually been delivered in that time and how much money has been spent?
I just don't buy into DOC sitting on their hands for 12 months. Apparently the company raised this with Shane Jones last year & yet over 4 months later still no approval. Something doesn't sit right.
It was also disappointing to hear that the toll treatment option has fallen through, but apparently there are three other options. We just don't know how realistic those options are.
Personally I don't think the company should tap investors for more money or spend money on mining, even if they do get approval from DOC, until they have a confirmed way of treating the concentrate.
Last edited by Daytr; 30-04-2024 at 01:45 PM.
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30-04-2024, 02:03 PM
#9360
It sounds like there has been plenty of mining going on. To the point where the local Police (who they call their mates) told them to 'beef up' their own security.
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