NTL - New Talisman Mine - New board & Directors

[cammo]

From past reports you can probably assume between 2 and 3 fold the gold quantity as silver output.
They may choose to sell concentrate as silver credits or whatever, but still a substantial amount to come out. Could offset the mining cost a substantial percentage.

[steveb]

well the crumbling value of the NZ$ can only help this along.

Have we seen the bulk sampling results?

[Bluemanarc]

The Bulk Sampling results must be out soon.
At the AGM they were very excited about that.

[Mbro]

Silver: there is a heap of silver: you just have to go look at reports from 2017, estimates are there. I cant remember off hand. But the kicker is silver is only $22 an oz, the international gold silver ratio is an all time high, over 80/1 last time I looked. I love the stuff, but its hardly worth going looking for at the moment. We need 15,000 oz of the lovely stuff a year, just to pay directors fees for example, lol!

[swissboy]

What about the enthusiastically proclaimed B/S results ????? Surely it does not take this long for testing. ????

[Mbro]

Silver: there is a heap of silver: you just have to go look at reports from 2017, estimates are there. I cant remember off hand. But the kicker is silver is only $22 an oz, the international gold silver ratio is an all time high, over 80/1 last time I looked. I love the stuff, but its hardly worth going looking for at the moment. We need 15,000 oz of the lovely stuff a year, just to pay directors fees for example, lol!
I went looking: silver to gold ratio is generally obscured, the prefered term used is "Gold equivilent "ounces, rather than saying how much gold & how much silver. But in 2017 AGM I do see a reference to about 204,000 oz gold & 800,000 oz silver. 4:1. Given that that ounce of gold is $NZ 1900, and its acompanying 4 oz silver is $NZ 88, you can see why unfortunatly it hardly matters.

[Mbro]

A quick review leaves me optomistic! Ive ignored NTL for a while.
Hardly any selling, in reality: remember, 2.3 billion shares.
It looks top five shareholders have sold nothing in last year?
Managing director has skin in game.
Existing mine, which gave up 3.5 million ounces of gold at a maybe average of 37gm/ton. Insane high rate.
Company has a mining consent!
NTL provides a NZ $ hedge to US $ gold price.
And it provides a Gold hedge to irrational & fragile US share market, & economy. Global debt is very very scary right now.

So I see NTL as beyond a prospector - its a kind of shakey newborn producer. Like a calf standing up for the first time.

While it was insane raising money in front of November 2017 options, and I lost big on that - by my standards- I think NTL a winner, still. 700,000 options that looked certain for 1.5c , to zero. Thanks for nothing.

Warren Buffett said two things- "buy when others are selling"
and " the share market allows the slow transfer of wealth, from the greedy, to the patient"
So against my impatient annoyance, I will hold. I might buy more if the Dow falls another 15%

[Antipodean]

Quarterly cashflow is out. No income however the annexure 1 indicates more mining was completed than expected - and that (mining?) activities are ahead of schedule. Hopefully we get further detail in the forthcoming activities report.

[chippy52]

Would not expect to see any income from mining activities to appear untill next quarter at the earliest.

[blackcap]

Quarterly cashflow is out. No income however the annexure 1 indicates more mining was completed than expected - and that (mining?) activities are ahead of schedule. Hopefully we get further detail in the forthcoming activities report.

Bit of a worry that they lost $1.2m in cash though and only have $2.8m left. That means capital raise in the next 6 months if they do not get a move on. The pilot plant is not yet commissioned either if I am reading it correctly....

[Antipodean]

Bit of a worry that they lost $1.2m in cash though and only have $2.8m left. That means capital raise in the next 6 months if they do not get a move on. The pilot plant is not yet commissioned either if I am reading it correctly....

Cash on hand is $2.8m but estimated outlays for next quarter for development are 391k. Assuming other costs remain constant (admin) and income doesn't change at all (interest only) 359k needs to be added for that. So 750k for next quarter, and at 2.8m / 750k that gives over 3 quarters before the cash runs out.

However now the activities report is out (which I'm still reviewing) we can add further information. "Approximately 8 tonnes of vein material has been extracted [from Mystery]", and "over 40 Tonnes of ore has been extracted from [Maria] over the last two weeks alone." In comments relating to the concentrator also note that "....by end of November with first production of gold from stockpiled ore by year end." So we should expect a change in cashflow item 1) a) in the next, or following quarterly cashflow reports. Exciting times.

Cashwise its hard not to see this is cutting it a bit close though, would have been really handy to have those options converted last year instead of the IMO not-so-great capital raise. Hopefully NTL is concentrating (no pun intended) on the immediately available revenue now that everything is in place.

[cyclist]

I was feeling a bit uncomfortable about the cash position too, but then it occurred to me that we bitch and whine when they are taking too long to get things done, where at the moment we are seeing real progress including significant capital items being installed. Can't have it both ways. Another capital raise will be touch and go though I suspect.

[Stumpynuts]

In comments relating to the concentrator also note that "....by end of November with first production of gold from stockpiled ore by year end." So we should expect a change in cashflow item 1) a) in the next, or following quarterly cashflow reports. Exciting times.

Cashwise its hard not to see this is cutting it a bit close though, would have been really handy to have those options converted last year instead of the IMO not-so-great capital raise. Hopefully NTL is concentrating (no pun intended) on the immediately available revenue now that everything is in place.


Hopefully some Xmas spending money by year end to reinvest back into the longer term outlook.
Concentrator wise - Their report states that they maybe looking at getting a larger plant setup for the longer term outlook once they find their groove and can determine recoverable grades from this initial installation which is currently underway.

[Bluemanarc]

Spending cash to get the plant operational and run it, is pretty good in my view.
I was very impressed at the AGM with the bearded accountant or financial controller or whatever he is.
Smartest person in the room by far, he has a certain mana and confidence about him, and knew what he was doing.
They often went to him for corrections and clarifications on certain points.
I don't think you will have a problem with running out of money, I like the cut of his jib.
One of the reasons I have gone into this at a greater level of investment.

The biggest hurdle was always to overcome paperwork and red tape (its the new NZ way / replacing the number 8 wire).
We were a country of enablers, now we are a country of regulation, NTL are past that now, actually operating, that is no small thing.

[Bluemanarc]

Once those traitors (betraders as my boy call it) leave at 1.7 and 1.8c

There aint much holding back a rise up to 2.6c / 2.9c

I can only see good things from here :)

[Mbro]

Would not expect to see any income from mining activities to appear untill next quarter at the earliest.
Hi chippy. I see you guys are still in! did you go to this years AGM?

[Mbro]

Yes, I really misjudged those November options. Never imagined a company would kneecap their own option holders. i lost on those options as did anyone who bought them, and they raised less than they would have, had they stayed with the option redemption.Especially as shares were running near 3c at the time from memory so all options would have been converted. Still, I like the assay results, and the mining consent. it should come right soon, after all, its only been 30 years so far.

[Brain]

Half year report seems ok. Making progress. Aiming for 800 tonnes per month @27gms per tonne which I figure would be about $800,000/month or $9M NPBT/ annum. All good when or if it happens

[Landyman]

Here comes Santa, hes on his way
Let him take our blues away
The gold is there
But do we dare
To think they will process any by May

[Brain]

Here comes Santa, hes on his way
Let him take our blues away
The gold is there
But do we dare
To think they will process any by May

They did say in their report that they are expecting to produce some gold by the end of the year.
If they can throw some of the ore from BM37 drill hole region into the pilot plant they could be generating cash quicker than we think. The ultimate would be the 10kg/tonne ore that they have mentioned on a number of occasions. Probably isn’t much of it but then again at those concentrations only a small amount could generate a bit of dosh.

With a bit of luck they could be off to a good start.

[Bluemanarc]

Certainly nice to hear them talking about operational mining and recovery issues and getting their systems sorted for producing gold for sale.

Instead of endless discussions about trying to get the mine started.

Should be a very interesting 2019 for NTL

[Bluemanarc]

Yes, I really misjudged those November options. Never imagined a company would kneecap their own option holders. i lost on those options as did anyone who bought them, and they raised less than they would have, had they stayed with the option redemption.Especially as shares were running near 3c at the time from memory so all options would have been converted. Still, I like the assay results, and the mining consent. it should come right soon, after all, its only been 30 years so far.

They spooked the market with some majorily stupid press releases and got themselves in a huge muddle.
Nothing had changed with the mine operationally or its future potential or the amount of gold there.
Just a complete balls up in communication and they still fully believed 22 was a good deal on the current value 28 to 32.
And the chance to get options at 55 in a few years they thought was also a good deal.
Remember most of the trading since that screw up is relatively small volume and when they start getting gold out the value in that 22 to 32 range will be real.
And most likely in 3 to 5 years time that 5.5c price will also be good value.
Lots of gold to flow out of that mine that is now working and operational.

[Paint it Black]

They did say in their report that they are expecting to produce some gold by the end of the year.
If they can throw some of the ore from BM37 drill hole region into the pilot plant they could be generating cash quicker than we think. The ultimate would be the 10kg/tonne ore that they have mentioned on a number of occasions. Probably isn’t much of it but then again at those concentrations only a small amount could generate a bit of dosh.

With a bit of luck they could be off to a good start.

Looking forward to the 'end of year' gold production from the pilot plant confirmation announcement - early next week! Exciting days ahead?

[haewai]

What makes you think early next week? Quarterly activities report is due by end of this month.

[Paint it Black]

What makes you think early next week? Quarterly activities report is due by end of this month.

If the end of year target was achieved it's likely we will be hearing about it soon after they are back at work. No need to wait for the activities report.

[Brain]

[QUOTE=haewai;742776]What makes you think early next week? Quarterly activities report is due by end of this month.[/QUOTE

Continuous disclosure rules would force them to make an announcement if they started production.

[haewai]

Maybe. Mining commencement was announced but not marked as price sensitive. And unclear if processing will start by financial or calender year end.

[Brain]

Fair point that year end can be a bit vague but I would think that they meant calendar year as I would consider a 3 month wait between commissioning the plant and gold production as more than a tad excessive.

[Lewylewylewy]

How many tonnes of ore do you guys expect to see per day when this thing gets going?

[Brain]

How many tonnes of ore do you guys expect to see per day when this thing gets going?

Initially not much as the pilot plant has a low capacity of about a tonne/day

In the reports they state that they are aiming at 800 tonnes/month @ 27gms/tonne average.

If this happens all is good but NTL is highly speculative hence the low market cap.

[Bluemanarc]

At the AGM they made mention of continually ramping up the scale of the extraction operation.
I wouldn't get too hung upon the capacity of the pilot plant, that didn't seem an important variable to them.

[Brain]

Yeah exactly the pilot plant is just that - a pilot plant. If when they hit 800 tonnes a month this mine will be a very good earner. This coming year will be very interesting.

[Yoda]

Brilliant, I will take you for a free ride in my new boat next year that I get from profiting on your shares :)
Still waiting for that ride😎.... hopefully this year. It’s still a great place for walks, and a new walk swing bridge to boost. Holding on to a couple of Mil and a bid at .013. just in case someone is desperate to sell.

[Bluemanarc]

Still waiting for that ride.... hopefully this year. It’s still a great place for walks, and a new walk swing bridge to boost. Holding on to a couple of Mil and a bid at .013. just in case someone is desperate to sell.

Haha Yoda I have been dreading your come back comment, I knew it was just a matter of time.
Maybe it is you that should be buying me a beer for providing yourself with such plentiful riches :)

Although lots of sellers from 1.6c and upwards to high 2's - the demand side does seem to be accumulating.
Once good news starts coming in this year I would "expect" both sides to start raising their expectations.
Such a thinly traded stock its always hard to gauge where the SP really is, as you cant buy or sell significant amounts without it lurching 50% one way or another.

I guess that means the core holders are not selling and new buyers are not coming until its an active gold income producing mine rather than just a speculator.
Assuming money from gold production starts filling the bank accounts we could see some dramatic changes this year.

Yoda the boat ride is still on the table buddy.
I have been looking but not bought as I want my boat purchase to be a free one on this SP and another potentially massive one - Look up AKP - from $14 to $22 recently - my pick is $1,000 to $1,500 per share in 2020.

[Yoda]

AKP10245That is amaizing ..from 10c to $24 in about 10yrs!

ASX and NZX seem to have a few more buyers today.
Best of luck mate.

[Bluemanarc]

Wow big change in amount of buyers up significantly.
And huge reduction in number of sellers, only a big chunk at 16 and 17, and then basically nothing.

If sellers hold out, and that small amount of 100k of shares is bought, there is currently nothing stopping a run past 32, just on current board anyway.

[Baa_Baa]

Be careful about the depth, that large amount at 16/17 could have a much larger amount behind it and you have to also consider why they think selling here is a great deal. Think like the seller when you're a buyer, and visa versa. Objectivity is helpful in a market.

[jonu]

Be careful about the depth, that large amount at 16/17 could have a much larger amount behind it and you have to also consider why they think selling here is a great deal. Think like the seller when you're a buyer, and visa versa. Objectivity is helpful in a market.

Or it could be people suppressing the price while they accumulate. There all manner of strategies out there.

[Yoda]

I,ve been cought out before thinking there are no sellers, and then there is a small rise and in they come, waiting in the wings to off load bit by bit. I would be excited if I saw 4:1 buyers like it was before the jump at 0.005c . Then you might surmise someone knows something ....
happy to wait a bit longer. Way into the green with this anyway so will allow it a bit more time .

[haewai]

Fair point that year end can be a bit vague but I would think that they meant calendar year as I would consider a 3 month wait between commissioning the plant and gold production as more than a tad excessive.

From the last half-year report; gold production by financial year end:
All components of the pilot processing plant, have arrived and are currently being installed offsite.It is expected the plant will be fully installed and operational with the crushing and grinding circuitby end of December with first production of gold from stockpiled ore by year end.

[BigBob]

"In a matter of weeks it will start extracting gold...."

https://www.radionz.co.nz/news/business/380536/miners-discover-gold-but-few-celebrating

[peat]

"In a matter of weeks it will start extracting gold...."

https://www.radionz.co.nz/news/business/380536/miners-discover-gold-but-few-celebrating

"The only reason we have mines is because people need the products. Gold's not just used for a shiny ring ... it is for everything from space travel to cellphones."

Pushin the barrow pretty hard with that line.

[Lewylewylewy]

If they're looking at 800 tonnes of ore a month, and 27g of gold per ton, that's 21,600g of gold a month. If gold is worth $40/g that's $864,000/month or about $10m pa at retail value of the gold.

According to the nzx website market cap of ntl is $32m. So currently a forward pe of about 3.

What do you expect the pe to be if they pull all this off? Say, 12? That's tripple your money if it goes all exactly to plan, and they can sell the gold at $40 a gram.

Its not massive for that level of risk. I would guess a more likely pe would be 6 because no growth prospects beyond that success. So could be double your money on success or half it on failure. Same odds as the casino. Lol.

Am i missing something here?

[haewai]

Costs.

I wonder how they're going to afford the processing plant

[Brain]

I would expect that it is just the beginning. They can take out 20,000 cubic metres per annum which equates to about 50,000 tonnes. Mt Karangahake has been mined but it would be fair to say that there would be significant deposits of gold left. Then there is Rahu which is thought to be an extension of the structures present in Mt Karangahake. Time will tell but hopefully There will be considerable upside. Gold is currently 1900 NZ$ / oz . With processing and mining costs at about 800$/oz that will be about 1100$/0z profit or about 9m$ profit per annum. It is high risk but probably due to the politics rather than the mining. Will we ever see a high PE on this share - probably not but politics aside it could potentially be a good little earner.

[Brain]

Costs.

I wonder how they're going to afford the processing plant

They do not have to process the ore themselves. Toll treatment is another option

[blackcap]

Am i missing something here?

Like someone on another site said. What do you think the "E" stands for in PE? Hint: its not "R".

[Lewylewylewy]

Ah yup lol ta

[youngatheart]

Quarterly Report due next week. Any punts on if there'll be any sweet surprises?

[Antipodean]

This quarterly is not one I'm looking for surprises on. Could be comments on drop in NZD/USD being beneficial perhaps? Realistically just good solid progression into full sampling/processing would be all I hope for. In particular further on the pilot plant and production - further to the below.

"All components of the pilot processing plant, have arrived and are currently being installed offsite. It is expected the plant will be fully installed and operational with the crushing and grinding circuit by end of December with first production of gold from stockpiled ore by year end."
- from the HY 14/12/2018

If there are surprises it may relate to Rahu, but not expecting any.

[whatsup]

more good grades from the ore face !

[Lewylewylewy]

Bit of time at the end of my day as i finished all my tasks, so i thought id just comment on my former rough calc.

It was intended to be a very generous (blind to any negatives) valuation to show that these are over priced. My comment about what I'm missing wasn't about the elegance of the sums, rather a question about what im missing about why they're so expensive.

Figured I'd play dumb to the correction to the pe in which i assumed no costs (thinking i was emphasizing the generosity of the value), because i cba justifying it at the time and didn't want to take away kudos of any nice folk trying to help (which i always appreciate), but upon reflection i feel obliged to because re reading it, it could be read as though im suggesting that people might double their money here, which was the opposite of what i was aiming for.

Unless im missing something (feel like i am because i figure the market is probably smarter than me), these seem like they're priced as if the mine was going to go forever at the predicted rate.

I suspect that upon successfully moving some gold, these shares will go up, then back down as sentiment gives way to fundamentals.

Please explain to me if I'm wrong, but this looks like a bad investment but maybe a good trade if you have sufficiently large hairy danglers.

[Yoda]

I havent done any sums, but i think you are spot on. It went up quite a bit in July 17.......wow that long ago? And i expect it might do it again at some point, at which point i,ll trade out again.
Thanks for your insight.

[Antipodean]

Bit of time at the end of my day as i finished all my tasks, so i thought id just comment on my former rough calc.

If you are referring to post #4020, then you are only looking at bulk sampling values. In terms of volume, once full mining is underway it is expected 50,000 tonnes per annum will be processed for 9 years (27/6/2018).
We are looking at a potential of 427,600 Oz Au Eq in Maria vein alone (5/9/2017). That's over $500m Au or equivalent at current prices. Even with extraction costs taken into account, the USD/NZD going in our favour, it's much more than a 3-6 PE once fully operational.
We still have some time to go before mining is underway in the full sense though.

[blackcap]

Bit of time at the end of my day as i finished all my tasks, so i thought id just comment on my former rough calc.

It was intended to be a very generous (blind to any negatives) valuation to show that these are over priced. My comment about what I'm missing wasn't about the elegance of the sums, rather a question about what im missing about why they're so expensive.

Figured I'd play dumb to the correction to the pe in which i assumed no costs (thinking i was emphasizing the generosity of the value), because i cba justifying it at the time and didn't want to take away kudos of any nice folk trying to help (which i always appreciate), but upon reflection i feel obliged to because re reading it, it could be read as though im suggesting that people might double their money here, which was the opposite of what i was aiming for.

Unless im missing something (feel like i am because i figure the market is probably smarter than me), these seem like they're priced as if the mine was going to go forever at the predicted rate.

I suspect that upon successfully moving some gold, these shares will go up, then back down as sentiment gives way to fundamentals.

Please explain to me if I'm wrong, but this looks like a bad investment but maybe a good trade if you have sufficiently large hairy danglers.

Even with my large hairy danglers I would not touch this stock :)

[Brain]

Even with my large hairy danglers I would not touch this stock :)

Shares like this is what makes do it yourself investing fun. It could be hugely profitable or crash and burn or anything in between. The alley cat in me can’t resist it.

[Fundamentalfinder]

This is obviously a speculative stock. But what if this turns out to be true?

Should the Mystery prove to be as extensive as postulated it may prove to be similar to the Maria Vein, the main vein exploited at the historical Talisman Mine and from which more than 3 million ounces of bullion was produced over the mines 23-year life.

Top of page 3 on latest announcement

[Lewylewylewy]

Thanks all. So my understanding is that it's priced for reaching the afore mentioned goals, but folk are hoping for 10x return if our gets lucky (roughly based on numbers above).

I can't see a very high pe once mining is successful and the value of the mine is clear, because there'd be no point paying a multiple of yearly earnings beyond the number of years that it's able to earn, surely? So its likely going to have a pe of no more than 9, but in reality must be less than that (because why buy something for the value you will get in total by the end), and pe will contract by at least 1 pa as the pot of gold is gradually mined out. I suppose the only way to get a higher pe would be speculation that there's yet more, beyond what's being pulled out.

Thanks all for helping me understand the potential benefits of this. Maybe I'll buy $1,000 worth for the giggles, but probably not.

Good luck to all holders. I hope it works out great for you.

[Timesurfer]

The other roll of the dice is that the price of gold goes through the roof ... USD potential collapse, trade wars, actual wars, Brexit and the EU. Lots of reasons out there that might give you your 10x return.

Of course the headwinds they are facing with dirty mining in a clean green lead Government might eat up those profits.

How lucky do you feel?

[Antipodean]

Nothing dirty about closed water loop mining in an existing underground stratum.

[Timesurfer]

Nothing dirty about closed water loop mining in an existing underground stratum.

Just quoting the sentiment expressed by the article BigBob posted earlier. Not everyone is as discerning between the various mining methods.

[Lewylewylewy]

I think the way things are these days, it doesn't matter if its dirty, just whether people (who don't know anything about it) feel like it's dirty. Everyone's opinion matters. Lol

[blackcap]

I think the way things are these days, it doesn't matter if its dirty, just whether people (who don't know anything about it) feel like it's dirty. Everyone's opinion matters. Lol

Thats about the gist of it. Same with the supermarket plastic bags crusade. Its people that know nothing but feel its wrong that are banging on about it. Oh well unintended consequences and all be damned.

[aquaman]

Some news/update released to ASX on 24/1

https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=NTL&timeframe=D&period=M6

[Bluemanarc]

Maybe the new "True Greens" party with a bit of brains will actually support this green environmentally friendly mining operation.

[blackcap]

Two quarters to go and cash raising time....

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/330018/294279.pdf

[jonu]

Two quarters to go and cash raising time....

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/330018/294279.pdf

Along way from certain there blackcap. 2m in the bank and reduced expenditure for the coming quarter. Annexure 1 also notes higher than budgeted expenditure for current quarter due to mining activity being ahead of schedule. Cashflow from the profitable bulk sampling should kick in this quarter.

It would have been good to know the tonnage of stockpiled ore...kind of like stock in hand really.

[Blue Horseshoe]

Well said Jonu, good to see someone knows what they're talking about.

[Brain]

My guess is the only way they can make any money out of the stock piled ore quickly is to have it toll treated. Waihi did this for them a while back. It seems to me that they are pinning their hopes on Dubbo producing some high grade ore that they can run through the pilot plant to create a bit of cash flow.

[Bluemanarc]

Along way from certain there blackcap. 2m in the bank and reduced expenditure for the coming quarter. Annexure 1 also notes higher than budgeted expenditure for current quarter due to mining activity being ahead of schedule. Cashflow from the profitable bulk sampling should kick in this quarter.

It would have been good to know the tonnage of stockpiled ore...kind of like stock in hand really.

Its now a mine and these are all operational issues around getting going in the most affective manner possible.
I don't know why people are complaining so much Jono.

I am very happy we have gone from a pipe dream to actual mining.
These things take time, but once the whole system is set up, I can see a huge ramp up in activities, and gold production and cash.
The Ducks are unstoppably being lined up in a row.

[blackcap]

Along way from certain there blackcap. 2m in the bank and reduced expenditure for the coming quarter. Annexure 1 also notes higher than budgeted expenditure for current quarter due to mining activity being ahead of schedule. Cashflow from the profitable bulk sampling should kick in this quarter.

It would have been good to know the tonnage of stockpiled ore...kind of like stock in hand really.

I have yet to see any amount under the "revenue" banner. When and if that happens I may change my tune. To date its been all words and promises. Not holding my breath.

[jonu]

I have yet to see any amount under the "revenue" banner. When and if that happens I may change my tune. To date its been all words and promises. Not holding my breath.

Take a deep breath there blackcap. Gold at NZ 1900oz. Stockpiled ore awaiting processing

[kiora]

All that glitters isn't gold.Hopefully for those holders out there it does.

[Antipodean]

I'm interested in seeing more regarding Dubbo. The last quarterly release on 31/01/2019 has the following under Dubbo Zone Access - "If the rise is stable the objective of removing 5+ tonnes of thebonanza grade material could be completed near the end of Q1. An update of progress in this areawill be provided to shareholders in the next few weeks."

2 weeks from 31/01/2019 falls this Thursday 14/02/2019 - but a few weeks is a little more open ended than that. Still, I would expect to hear something prior to end of month 28/02/2019 given the language used.
Remember this is the area that "... assayed 656 g/t Au over 1.8m including 1154 g/t Au over 1.0m"

[steveb]

5 tonnes is not much but if they got close to the 656 assayed thats 3280 grams now that's a lot of gold! could be worth $200K

[ziggy415]

5 tonnes is not much but if they got close to the 656 assayed thats 3280 grams now that's a lot of gold! could be worth $200K
Any idea how long 5 tonnes takes to go thru the pilot plant.....
I see conservation land inland between whangamata and waihi beach is closed till December for testing purposes....must be Rahu

[Brain]

5 tonnes is not much but if they got close to the 656 assayed thats 3280 grams now that's a lot of gold! could be worth $200K

And don’t forget some of the samples were over 10,000 grams/tonne. Could be interesting times ahead

[Mbro]

Any idea how long 5 tonnes takes to go thru the pilot plant.....
I see conservation land inland between whangamata and waihi beach is closed till December for testing purposes....must be Rahu
Im not completely up to date but my memory was the pilot plant chosen is about a tonne a day. willing to be corrected.

[haewai]

Any idea how long 5 tonnes takes to go thru the pilot plant.....

A long time, given it won't even be tested until the end of April. See page 6 of the last quarterly.


I see conservation land inland between whangamata and waihi beach is closed till December for testing purposes....must be Rahu

No. It's Oceania Gold

[Mbro]

I love NTL gambling. Its much better excitement than putting a bet on a horse race : instead of it taking minuits to see whether your choice was a good one, it takes years, the tension and anticipation never ends.
And better than a pokie, instead of a dollar in, pull the arm, and is it gone or you get $1000, NTL offers seemingly eternal dreams of 600 g/Au a tonne....or even quoted 10,000 g/t. ( I do not recall seeing 10 kg/tonne anywhere- Brain, where did you see that?)
anyway, let the dice roll again. By buying NTL we all qualify as goldbugs...

And don’t forget some of the samples were over 10,000 grams/tonne. Could be interesting times ahead

[Brain]

I agree Mbro NTL is great fun.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/330019/294285.pdf

page 4 for the tantalising 1% gold

[ziggy415]

A long time, given it won't even be tested until the end of April. See page 6 of the last quarterly.



No. It's Oceania Gold
Did think it was bit far north to be rahu

[jonu]

Jonu has been accumulating again at 1.3NZ

Lovely Jubbly

[Joshuatree]

So whats your average entry price now , to be transparent?
Im feeling bubbly but its friday and ive just had a giant G&T with friends.And my Gold stocks that actually produce GOLD are doing really well with great s/p rises.

[jonu]

So whats your average entry price now , to be transparent?
Im feeling bubbly but its friday and ive just had a giant G&T with friends.And my Gold stocks that actually produce GOLD are doing really well with great s/p rises.

And so they should be JT, with the POG where it is at the moment. Happy days for NTL as it comes into production.
My latest purchases are well above my average. Needless to say I wouldn't be buying more at this price if I didn't think they will look awfully cheap in the future. This has been a long term hold for me...longer than anticipated.


I'm curious about them incorporating Mystery vein into JORC. I'm not sure what the process is

[youngatheart]

Gawd I wish they would let us know something. I'm starting to feel that I may have just dreamed it all, lol.

[swissboy]

The Aug 2017 Share offer at 2.2 c each is beginning to haunt me

[Antipodean]

Still waiting on that update that was due "a few weeks" from 31/01/2019

[haewai]

Yeah, an update on this would be reassuring:
"If the rise is stable the objective of removing 5+ tonnes of thebonanza grade material could be completed near the end of Q1. An update of progress in this areawill be provided to shareholders in the next few weeks"

And maybe an announcement of end of commissioning stage and starting of processing/testing:
"All components of the pilot processing plant have arrived and are being assembled off site. It isanticipated that commissioning will take place during late February with completion of an initial testbatch completed by end April."

Am not sure why a test batch takes two months to pass through the plant anyway. Standard NTL timeframes I guess.

And perhaps a left-field 'bonanza' announcement on a decision on this sort of thing:
"...the company continues to assess enquiries regarding altenative potential treatmentoptions."

Though that's possibly too much action for NTL.

[blackcap]

Yeah, an update on this would be reassuring:
"If the rise is stable the objective of removing 5+ tonnes of thebonanza grade material could be completed near the end of Q1. An update of progress in this areawill be provided to shareholders in the next few weeks"

And maybe an announcement of end of commissioning stage and starting of processing/testing:
"All components of the pilot processing plant have arrived and are being assembled off site. It isanticipated that commissioning will take place during late February with completion of an initial testbatch completed by end April."

Am not sure why a test batch takes two months to pass through the plant anyway. Standard NTL timeframes I guess.

And perhaps a left-field 'bonanza' announcement on a decision on this sort of thing:
"...the company continues to assess enquiries regarding altenative potential treatmentoptions."

Though that's possibly too much action for NTL.

Considering 5 tonnes of grade material is only a few wheelbarrows worth it should not be that difficult. (i'm going on about 300kg of grade material per wheelbarrow here so make that 15 wheelbarrows)

[swissboy]

Life goes on. Another 2 weeks since comments of no news from NTL.

[youngatheart]

This is from 1 year ago....


New Talisman Gold Mines Limited Ordinary Shares

Announcement
as at 13:33:34, Thursday 22 March, 2018 (NZDT)
Testwork reveals high recovery of gold

NTL
22/03/2018 13:33
MKTUPDTE
PRICE SENSITIVE
REL: 1333 HRS New Talisman Gold Mines Limited

MKTUPDTE: NTL: Testwork reveals high recovery of gold

HIGHLIGHTS
o 75kg of ore from the target areas of Mystery and Dubbo have been
treated using Gravity Concentration and Flotation methods;
o Testwork shows that 94% and 93.6% gold is recoverable in the Dubbo
and Mystery samples respectively using this process;
o Only environmentally benign reagents are used to achieve these
recovery levels;
o Design of pilot plant is underway.

Testwork Overview
Gold at the Talisman Mine is hosted in three major quartz veins, namely, the
Maria, Mystery and Crown/Welcome. Of these three the Maria vein is the major
contributor containing approximately 91% of the mines 469,000 Oz AuEq Mineral
Resource within the Dubbo, Bonanza and Woodstock Zones. The average grade of
the resources in these zones is estimated at 22.0g/t, 23.6g/t and 6.3g/t AuEq
respectively with some 313,000 Oz lying in the Dubbo Zone. (please see
announcement of
https://www.asx.com.au/asxpdf/20170905/pdf/43m2d5v2hnybjc.pdf) Exploration in
this area has yielded some spectacular results, notably hole BM 37 which
yielded 1.8 m @ 656g/t Au and 2080g/t Ag.
The Mystery Vein is a newly discovered vein that is highly prospective and a
potentially significant contributor to the future of the mine.
The metallurgical testwork was designed to deliver reliable and repeatable
results which will be used to inform engineering studies and cost estimates
both for pilot testwork during the Bulk Sampling Project and to inform design
in an updated Pre-Feasibility Study.
Testwork examined the processing path, post mining, as illustrated below:

There are four stages to the metalurgical process once ore has been mined and
crushed to a suitable feed size:
1) Grinding of ore to a suitable size to liberate gold;
2) Recovery of free milling gold in a gravity concentrator
3) Flotation of the concentrator tails to recover additional gold
4) Final recovery of gold from concentrate

Processing - Grinding

An important output from the testwork was to determine the optimal grind size
to liberate gold contained in the ore. Grinding (or milling) of ore takes
place in a ball mill and is the most expensive and energy intensive part of
the process. The finer the grind size required the more energy and time is
taken up. Two grind sizes were tested here with ore initially milled to p80
passing 106?m and again to p80 passing 53?m.

Processing - Gravity Concentration

The milled product was pulped to 50 % solids and the resultant pulp was
subjected to gravity concentration via a Knelson Centrifugal Concentrator.
The primary concentrate was upgraded via careful hand panning to provide
final concentrate mass yield approaching that of operating Knelson
installations. Final free gold concentrate (pan concentrate) was assayed via
total fusion to eliminate sampling error and nugget effect. Secondary
concentrate (pan tailing) and final tailings were dried, weighed and split
for Au assay.
Results from this show that 61.3% of gold in Dubbo ore, and 81.9% of gold in
Mystery ore can be recovered directly through this process.
Processing - Flotation

Tailings from the gravity concentrator were pulped to 20% solids and
subjected to single stage flotation with the addition of copper sulphate,
sodium isobutyl and Dow 250 which are all environmentally benign reagents.
This process resulted in recovery of an additional 32.7% of gold from Dubbo
ore and 11.7% from Mystery ore, yielding overall recoveries of 94% and 93.6%
respectively. Variance of recovery rates between the two grind sizes was
insignificant. This is comparable to the recovery achieved from Talisman ore
which has previously been treated using a cyanide leach process. Importantly,
the gravity and flotation process will produce inert tailings with low
sulphide levels.

Processing - Gold Recovery

On exit from the flotation tanks the concentrate can either be sold directly
on the market or the gold recovered on a shaker table and smelted.
These results are very pleasing with recovery rates nearing those attained
from similar tests involving cyanide leaching. Essentially this means that,
following pilot testing, the company will be able to use only environmentally
benign reagents for gold recovery which supports the company in its goal for
the Talisman Mining operation to be a responsible, environmentally
sustainable operation.
Chief operating officer and principal mining engineer Wayne Chowles said "The
results of this testwork provides the necessary hard data with which to
proceed with forward planning and takes us an important step closer to
realizing the potential of this magnificent orebody"
Next Steps - Pilot Plant Design
Results from the testwork set out above will inform the design of a pilot
plant layout which is expected to be similar to that set out in the process
flow diagram alongside. It is expected that the plant will be modular and
scaleable allowing components to be added as production volumes increase.
Further information on this will be released to the market as it becomes
available.

New Tal
Matthew Hill
Chief Executive Officer
New Talisman Gold Mines Limited
__________________________________________________ ________________________
About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) with over 2250
shareholders who are mainly from Australia and New Zealand and has been
listed since 1986. It is a leading New Zealand minerals development and
exploration company with a mining permit encompassing the Talisman mine, one
of New Zealand's historically most productive gold mines. The company has
commenced prospecting and upgrading activities at the mine and advance the
exploration project and increase its considerable global exploration target
into JORC 2012 resources.
Its gold properties near Paeroa in the Hauraki District of New Zealand are a
granted mining permit, including New Zealand's highest-grade underground gold
mine, a JORC 2012 compliant mineral resource of over 427,000 ounces au/eq at
an average above 15 gt AU/eq and a JORC compliant reserve statement. The
company owns 100% exploration permit Rahu, which lies along strike from the
Talisman mine of which 80% was recently acquired from Newcrest Mining. The
company will shortly commence exploration activities at Rahu.
End CA:00315905 For:NTL Type:MKTUPDTE Time:2018-03-22 13:33:37

[youngatheart]

So my question is what have they done since?

[haewai]

Obviously not enough for you. I thought that testing was performed overseas.

There has only been 6 and half weeks since the last quarterly. Be patient.

[Antipodean]

Obviously not enough for you. I thought that testing was performed overseas.

There has only been 6 and half weeks since the last quarterly. Be patient.

Generally I'm for being patient, but in that last quarterly they advised of an update in regards to Dubbo "in the next few weeks". Been silence since that.

[swissboy]

? ? ? ? ? !!!!!

[youngatheart]

Luck comes in threes apparently so with good news from PLX and BLT perhaps NTLs time has come. Lol.

[Paint it Black]

Yeah, an update on this would be reassuring:
"If the rise is stable the objective of removing 5+ tonnes of thebonanza grade material could be completed near the end of Q1. An update of progress in this areawill be provided to shareholders in the next few weeks"

And maybe an announcement of end of commissioning stage and starting of processing/testing:
"All components of the pilot processing plant have arrived and are being assembled off site. It isanticipated that commissioning will take place during late February with completion of an initial testbatch completed by end April."

Am not sure why a test batch takes two months to pass through the plant anyway. Standard NTL timeframes I guess.

And perhaps a left-field 'bonanza' announcement on a decision on this sort of thing:
"...the company continues to assess enquiries regarding altenative potential treatmentoptions."

Though that's possibly too much action for NTL.


Looking forward to the results of the pilot plant commissioning and completion of the testbatch at the end of April.

[swissboy]

That is almost 3 weeks away but I must admit I too am looking forward to an update

[swissboy]

Still waiting on that update that was due "a few weeks" from 31/01/2019

The few weeks will then be 3 Month exactly

[Mbro]

A kind version of an old saying is that a Miner is "an optimist standing at the top of a hole."
However I must say the slide in shareprice indicates that like me, many are getting tired of delays, when little reason is given.
Delays can be accepted, lack of reasons for delays, less so.
I expected test quantities of smelted gold long ago.

[Joshuatree]

I think the unkind version fits better here.
"A mine is a hole in the ground run by a liar"

Hope im wrong, good luck.

[haewai]

I'm struggling to see how Mr Hill deserves his $400K salary with this pace of progress

[blackcap]

I'm struggling to see how Mr Hill deserves his $400K salary with this pace of progress

I thought that is why NTL existed... so that Mr Hill could get a $400k salary every year.

[swissboy]

Still 8 days to go before they should release the next report. Patience ???

[Bluemanarc]

Excitement.
In the days prior to the December ? update.
actually the days and weeks and months.
We got no info.

And they surprised us with being a lot further ahead than I expected or they had forecast.

I am expecting they are a lot further along the track than we have worried ourselves into the ground about as shareholders in general, as reflected in the shattered SP.

We certainly wont have a full 100% operational end to end gold manufacturing line going.
But they will have certainly moved a lot further and put a lot more ducks in a row to achieving that.

[Landyman]

$400k salary will allow for a high class scope to make aiming at the ducks easier.

[Brain]

I would have thought that if the sole purpose of this mine was to pay directors fees and staff salaries then there would be no sense in investing in the refurbishment of the mine and purchase of the pilot plant. It would have been best for the management and board to make excuses and sit on the $6M raised capital and ensure that directors fees and management salaries were paid out for many a year to come.

[swissboy]

Hey the update will be today or on Monday. At last----- Just predicting

[whatsup]

Is .011 the low for now, looks like someone wanted out at that price much to my gain, what are we expecting from the expected announcement

[haewai]

Capital raising at <$0.01

[BigBob]

Capital raising at <$0.01

Why do you think that?

[steveb]

would have to be major good news for any sort of capital raise,let alone one for .01,just .001 off the current price.

[haewai]

Why do you think that?

The pilot processing plant cannot provide enough revenue to meet mining and exploration costs, and the current cash balance is running out quickly.

I hope I'm wrong. Perhaps a bank loan or 'alternative processing arrangement' will save the day

[steveb]

The pilot processing plant cannot provide enough revenue to meet mining and exploration costs, and the current cash balance is running out quickly.

I hope I'm wrong. Perhaps a bank loan or 'alternative processing arrangement' will save the day
They had $2mil in the bank at the end of the last quarter,what do you know that we don't.regarding this huge budget blowout you are predicting?

[haewai]

They had $2mil in the bank at the end of the last quarter,what do you know that we don't.regarding this huge budget blowout you are predicting?



NTL spent $800K last quarter.
$1.4m the quarter before that
$660K that quarter before that

How long will the $2m last at that rate? And where is sufficient revenue going to come from?

[steveb]

they have plenty of cash to get the pilot plant running,if they can then get the recovery rates confirmed,it won't be a matter of a capital raise it will be a fight to stave off takeover threats!

[whatsup]

Qr today or tomorrow, watching in great interest of direction for the future.

[blackcap]

Quarterly is out....

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/333841/299002.pdf

Cash raise coming up soon is my guess.

"The beginning of the 2019 calendar saw another busy quarter at the Talisman
mine with great strides being taken to secure access to the BM37 Rise in the
Dubbo Zone area. Following completion of refurbishments and testing of the
face at Mystery the focus this quarter has been on gaining access to Dubbo
and finalising resource consent for pilot plant operations. While the Dubbo
area has been slower to progress than expected the material removed to date
shows significant promise as set out in this report. Over the next quarter
the company will focus on progressing further into Mystery vein extension,
moving ore to the pilot plant for processing and making safe the Dubbo area
in order to commerce sampling of the vein faces."

[youngatheart]

Wow. They've done very little... SP back to 0.006 soon I bet.

[Paint it Black]

Quarterly is out....

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/333841/299002.pdf

Cash raise coming up soon is my guess.

"The beginning of the 2019 calendar saw another busy quarter at the Talisman
mine with great strides being taken to secure access to the BM37 Rise in the
Dubbo Zone area. Following completion of refurbishments and testing of the
face at Mystery the focus this quarter has been on gaining access to Dubbo
and finalising resource consent for pilot plant operations. While the Dubbo
area has been slower to progress than expected the material removed to date
shows significant promise as set out in this report. Over the next quarter
the company will focus on progressing further into Mystery vein extension,
moving ore to the pilot plant for processing and making safe the Dubbo area
in order to commerce sampling of the vein faces."

Possibly but I'm more frustrated they now need a Resource Consent for the pilot plant. Surely this should have been sorted long ago. Equally frustrating is why does the Council actually need one - it's just a pilot plant after all. Any waste can surely be contained and disposed of in a certified landfill. Do they need to go through another RC process with the larger plant? If so hopefully this is also being progressed now? Do we need to wait another 3 months for an update on this? The key processor commissioning date continues to slip.

[whatsup]

Muppets ! what have they been doing all these years.

When will they get thing right, been here a very long time, circa 1986 and nothing changes !!

[steveb]

Muppets ! what have they been doing all these years.
paying themselves with our money!

[haewai]

They've spent far too much $ and time on a processing plant that is too small to actually be useful when a better return would be toll processing. The QR even states ... "commencement of metallurgical testwork to determinerequirements for a higher volume plant"

And they've dug out Dubbo to find someone else had already been there: "...Access was gained into the Dubbo area during the quarterand revealed extensive excavations"

[whatsup]

paying themselves with our money!

Stevo, management has fronted up on several occasions and are well down on their investment, the workers are hard working at the mine head and will be massively disappointed , its a great pity that the slips were not full of gold at lease that could have been pay dirt !

[blackcap]

With $1.2m left and using about $800k per quarter, they will have to do a cap raise probably in the next 2 months. Currently the SP is at .8 offered. So a cap raise at .5 or so cents is likely on the cards. Cannot see it any other way.

A 1 for 5 at .5 would raise about $2m and keep them going for another year. Otherwise not sure how else this company can survive. Tis possible my analaysis is wrong.

[dubya]

With $1.2m left and using about $800k per quarter, they will have to do a cap raise probably in the next 2 months. Currently the SP is at .8 offered. So a cap raise at .5 or so cents is likely on the cards. Cannot see it any other way.

A 1 for 5 at .5 would raise about $2m and keep them going for another year. Otherwise not sure how else this company can survive. Tis possible my analaysis is wrong.

Your analysis ain't wrong blackcap. It's spot on!!!!

[Yoda]

Auzzies still at .08 Nz at .06

[Yoda]

Glad i sold half yesterday

[haewai]

The irony (and inaccuracy) of this now standard comment at the back of the cashflow statement:

The actual development expenditure for the quarter was $557,451 compared to a budget of $371,000. The reason for the variancewas due to the entity completing more mining work during the quarter than expected. Activities originally scheduled for the followingquarter have commenced earlier than anticipated.

[Antipodean]

As a long time supporter, this quarterly is the last in a line of disappointments and I have exited in full.

[Brain]

“The company continues to assess enquires for alternative potential treatment options”

This is both obvious and important.

[jonu]

Well it's a funny old world. Certainly it is frustrating that they haven't achieved their targets of production, but while they have holdups in one direction they have progressed further in others, particularly Dubbo which has extraordinary grades. Extremely shortsighted to be exiting at this juncture IMHO. Each to their own . I personally have topped up another million at .7


As far as cashflow goes, proceeds from the test plant should counter some if not all the running costs of the company. If they want to ramp up production I figure they have various options to raise more funds. That won't bother me if it is promptly recovered in yellow stuff.

[rainey]

This co reminds me fo NOG 30 or so years ago on and on and--------- although this time we didn't get the screeds and screeds of useless technical jargon

[jonu]

This co reminds me fo NOG 30 or so years ago on and on and--------- although this time we didn't get the screeds and screeds of useless technical jargon

The technical jargon is why I have bought more today

[haewai]

The technical jargon is why I have bought more today

Nice. Technical terms like "515g/t gold.... 4070g/t silver" I expect. Such numbers certainly explain the organisational focus on Dubbo

[jonu]

Nice. Technical terms like "515g/t gold.... 4070g/t silver" I expect. Such numbers certainly explain the organisational focus on Dubbo

And why wouldn't they? Nice quote in there about the vein being visible also. This isn't just some smattering of dust amongst tonnes of ore.

[Oliver Mander]

Me too Antipodean. Only a tiny stake anyway, but can't imagine how others have the patience on this one.

[Miway]

There's always bumps in the road to a gold mine. This is a gamble for me...or rather for the grandkids. Prepared to hold for as long as it takes.

[Antipodean]

Cashflow is the killer for me.
NTL raised almost $6.5m in July-August 2016 in and this was supposed to take them all the way to production (go back read the offer docs...)

The August 2017 capital raise killed the NTLOA November 2017 options which were looking pretty good.
From there on, cash burned and share price weakened.

Now in 2019 we are sitting on closer to $1.2m with no income.
The lights will only stay on so long without further capital injection, and 2b+ shares already on issue that is tough.

[Landyman]

NTL is a rough ride, and expectations have to be very low to have any pleasant surprises.
Im contemplating buying more, however IMHO, with cash dwindling, then I expect a capital raise will be required, which will be at lower than current market, so Im going to hold off.

On a hypothetical note, I hope they are tanking the result with their update so they can do some insider trading, with GREAT news just around the corner. Completely illegal of course, but seriously, how much worse can it get.

It would be nice to think the fat cat salaries could be culled until there is some real progress.

My other cynical comment would be, if NTL stick true to form (and HGD form), they will sit on good news until they need more $$$. "We just found lots of gold, but we need $$$ to get it out"

[cammo]

Now would be a really good time for Hill to announce that's hes suspended his salary, to be repaid from sales of extracted gold. The salary is unjustified.

[cammo]

Maybe shareholders should pull a lefty and go up to the mine and start protesting at the INactivity!

[Chippie]

Cashflow is the killer for me.


The key question is how long it will take to get the Metallurgical Testwork Pilot Plant working. " Commissioning of the pilot processing plan has been delayed by land use consent applications which are being processed. All components of plant have arrived and are awaiting assembly off site. It is anticipated that resource consent issues will be resolved by end May following which the plant can be commissioned. In the interim the ROM stockpile continues to grow and will remain stored inside the mine until the plant is operational"

with 200 tonnes ready to process would that not be 200 x 34.8 g/t = 245 ounces @ NZ$1926 = $472K of gold alone?

I must say it is really disappointing that this additional resource consent has caught NTL out. But apart from that delay everything else is positive.

[Chippie]

At the AGM sept 2017 they said that they have the option to borrow from the bank once the feasibility study (or similar) is completed. I am not not sure what is required to make this satisfactory for banks, although I would be prepared to front up for more shares at a good price. It is high risk, but with a potential big price if it comes off.

[Brain]

My understanding is that the pilot plant is only capable of processing 90kg/hr so unless they put very high grade ore through it the plant will not be generating much cash. For immediate significant cash flow Toll treatment would seem to be The only option. As they report they are considering this option.

[Mbro]

The key question is how long it will take to get the Metallurgical Testwork Pilot Plant working. " Commissioning of the pilot processing plan has been delayed by land use consent applications which are being processed. All components of plant have arrived and are awaiting assembly off site. It is anticipated that resource consent issues will be resolved by end May following which the plant can be commissioned. In the interim the ROM stockpile continues to grow and will remain stored inside the mine until the plant is operational"

with 200 tonnes ready to process would that not be 200 x 34.8 g/t = 245 ounces @ NZ$1926 = $472K of gold alone?

I must say it is really disappointing that this additional resource consent has caught NTL out. But apart from that delay everything else is positive.
Ha Ha! Resource consent by May? Yeah right, as the Tui ad says! On second thoughts, May could be right...May 2020. Hands up those of us who have seen the resource consent process go to plan.

[Mbro]

My understanding is that the pilot plant is only capable of processing 90kg/hr so unless they put very high grade ore through it the plant will not be generating much cash. For immediate significant cash flow Toll treatment would seem to be The only option. As they report they are considering this option.
90 kg an hour...200 days to process stockpiled 200 tonnes...they couldnt mine gold as fast as they are spending money. They have consent to take 20,000 m2 m a year - 40,000 tonnes - out. Just take it out for now & toll it!

[Mbro]

The key question is how long it will take to get the Metallurgical Testwork Pilot Plant working. " Commissioning of the pilot processing plan has been delayed by land use consent applications which are being processed. All components of plant have arrived and are awaiting assembly off site. It is anticipated that resource consent issues will be resolved by end May following which the plant can be commissioned. In the interim the ROM stockpile continues to grow and will remain stored inside the mine until the plant is operational"

with 200 tonnes ready to process would that not be 200 x 34.8 g/t = 245 ounces @ NZ$1926 = $472K of gold alone?

I must say it is really disappointing that this additional resource consent has caught NTL out. But apart from that delay everything else is positive.
34.8 g/tonne would be the worlds highest current extraction rate I think. I would be pleased to see 20 - 25 g/tonne, still an extraordinary rate.

[blackcap]

My understanding is that the pilot plant is only capable of processing 90kg/hr so unless they put very high grade ore through it the plant will not be generating much cash. For immediate significant cash flow Toll treatment would seem to be The only option. As they report they are considering this option.

90kg an hour? That is only a few shovels worth of ore. What kind of plant is this? Some childs toy?

[youngatheart]

??? Might be quicker to crush it with a mortar and pestle and pan it by hand, lol...

[jonu]

90kg an hour? That is only a few shovels worth of ore. What kind of plant is this? Some childs toy?

As a regular commenter on this stock I'm sure you are aware of what kind of plant it is. It has been about testing the extraction system and to do so in a manner that is environmentally friendly. Once they are sure everything works...then comes the scaled up plant. With the grades they have seen at Dubbo the pilot plant will be cashflow positive.

[Brain]

[QUOTE=Mbro;757268]90 kg an hour...200 days to process stockpiled 200 tonnes...they couldnt mine gold as fast as they are spending money. They have consent to take 20,000 m2 m a year - 40,000 tonnes - out. Just take it out for now & toll it![/QUOTE

My best guess is that in order for NTL to get the best price for Toll treatment they need to have alternatives. Waihi is just down the road and would be the logical toll treater if the charges were sensible. Alternatives of course put NTL into a stronger negotiating position.

[cammo]

Suggest Mr Hill needs to use his salary to pay the consultants required to get resource consent across the line. Regulatory bureaucracy is only fed fast and well by other bureaucrats, not neanderthals bashing their heads against the compliance wall ; again we are being slowed by ntls inability and ignorance.

[Paint it Black]

Suggest Mr Hill needs to use his salary to pay the consultants required to get resource consent across the line. Regulatory bureaucracy is only fed fast and well by other bureaucrats, not neanderthals bashing their heads against the compliance wall ; again we are being slowed by ntls inability and ignorance.

Totally agree - what annoys me most is that a resource consent for a small pilot plant crushing 90kg/hour is needed at all. There must be some industrial land available nearby where a little noise and dust (which itself can be controlled) is already a permitted activity. If it is set up within the mine one would have thought the environmental impact of the pilot plant itself would be minimal compared with other already consented activity in the mine. It should only need a few hours of a professional planners time to get this across the line on a non notified basis.

[Brain]

Remember the Traffic Management plan and how long that took to be approved. That should have been a fairly straight forward consent. This is mining in the coromandel.

[Paint it Black]

Remember the Traffic Management plan and how long that took to be approved. That should have been a fairly straight forward consent. This is mining in the coromandel.
That's the big worry. Every day is crucial now to avoid another capital raising.

[Brain]

Yeah exactly. People are not focussing on the real problem. I remember Charbel Nader at the last SGM saying that the risks are primarily political. Then a few days later they announced that the TMP had been approved. I believe the mine itself should be very profitable. You have to give the management and directors credit for progressing it this far. There have been mistakes along the way but this mine is very close to production with some very good grades. I am hopeful that the long suffering shareholders, directors and management will ultimately get some reward.

[Chippie]

34.8 g/tonne would be the worlds highest current extraction rate I think. I would be pleased to see 20 - 25 g/tonne, still an extraordinary rate.

This number came from this quarterly report

"Assays of grab samples from run of mine ore have ranged between
trace and 515g/t gold for an average of 34.8g/t Au, and trace and 4070g/t silver for and average of
296g/t Ag.

Representative samples have been taken of broken ore removed from northern face and removed to
rom stockpile Has yielded grades between 2.65g/t and 130g/t gold for an average of 36g/t Au, and
between 35g/t and 441g/t silver for an average of 146g/t Ag. "

The 2018 annual report had the following for Dubbo
Measured =13,000 tonnes Aueg g/t = 96.9 for 40,700 ounces. adding in indicated and inferred brought the Aueg g/t down to 22.0

[jonu]

This number came from this quarterly report

"Assays of grab samples from run of mine ore have ranged between
trace and 515g/t gold for an average of 34.8g/t Au, and trace and 4070g/t silver for and average of
296g/t Ag.

Representative samples have been taken of broken ore removed from northern face and removed to
rom stockpile Has yielded grades between 2.65g/t and 130g/t gold for an average of 36g/t Au, and
between 35g/t and 441g/t silver for an average of 146g/t Ag. "

The 2018 annual report had the following for Dubbo
Measured =13,000 tonnes Aueg g/t = 96.9 for 40,700 ounces. adding in indicated and inferred brought the Aueg g/t down to 22.0

Yep...but is anyone interested? Seems like they would rather moan their arse off about things being a month behind schedule.

[chippy52]

There may be some cause for concern. If you go back over the last three quarterly reports they have infered that processing will commence.
EG: [ It is expected the plant will be fully installed and operational with the crushing and grinding circuit by end of November with first production of gold from stockpiled ore by year end. ]

[cammo]

Who is Keen for a visit - taking in the mine, a meeting with Hill and Nader, then on to the bureaucracies for a "group assist". This part may require several days by a few people....

[Bluemanarc]

Who is Keen for a visit - taking in the mine, a meeting with Hill and Nader, then on to the bureaucracies for a "group assist". This part may require several days by a few people....

Hey I would love a site visit.
Count me in if you can swing it.
Prefer any day but Thursdays as are buying and selling property at the auctions.

[cammo]

Probably need a dozen to make a decent impression, although we can rent a horde for the back row.

[Bluemanarc]

34.8 g/tonne would be the worlds highest current extraction rate I think. I would be pleased to see 20 - 25 g/tonne, still an extraordinary rate.

34 g/t is reasonable expectation as they are cutting it directly out of the vein.

[Brain]

Good to see the gold price @ NZ$1975/oz. Very positive for NTL.

[swissboy]

When? When? Waiting/Waiting

[rainey]

Avery long time
When? When? Waiting/Waiting

[steveb]

Resource consent issues should be resolved by the end of this month,then they have to commission the pilot plant.Hopefully the company will advise us as soon as the consents have been issued and let us know at the same time as to when the plant will be commissioned.

[Bluemanarc]

Very exciting times with all teething problems being ironed out to get the mine going.
I am very much looking forward to this.

I quit some of my other shares at the top and have funnelled them into this at bargain prices.

Unfortunately I bought the rest at prices well above this.
But at current price we cant go wrong.

Such a small number of share holders and the big holders with such a large stake, there is only x amount that can be bought at any one time.
Never see more than 10 million shares under 3c and that's only 100k value of shares at this current price.

GLTA, but if your selling now, under 1.5c you are nuts in my view.

[Bluemanarc]

Sorry, by other shares, I meant AKP which looks like its falling apart at the moment.

[Aarrgghh]

You don't happen to fly helicopters for a living do you?

[rainey]

Sounds more like kites

[Landyman]

At 0.7cents, its almost worth having another punt. That said, with cash running out, might just hold out for the next capital raising.

[youngatheart]

Resource consent issues should be resolved by the end of this month,then they have to commission the pilot plant.Hopefully the company will advise us as soon as the consents have been issued and let us know at the same time as to when the plant will be commissioned.

So...any chance we'll be hearing about this?

[steveb]

So...any chance we'll be hearing about this?
I wouldn't hold your breath

[haewai]

I don't recall any market releases for the other resource / building consents they must have sought and gained.

[steveb]

I don't recall any market releases for the other resource / building consents they must have sought and gained.
This resource consent is important,if it is granted they can get into production,if it is delayed they simply run out of money,and will have to hit the shareholders up again

[haewai]

It's a pilot plant. Not production. I expect there may be some revenue from the tiny amount of processing the pilot plant is capable of, but I doubt it'll be sufficient to turn the entire business cash-flow positive. There are some numbers in previous posts and in NTL releases of processing throughput. More money will be required from somewhere, and options include toll processing, shareholders, and loans.

[blackcap]

It's a pilot plant. Not production. I expect there may be some revenue from the tiny amount of processing the pilot plant is capable of, but I doubt it'll be sufficient to turn the entire business cash-flow positive. There are some numbers in previous posts and in NTL releases of processing throughput. More money will be required from somewhere, and options include toll processing, shareholders, and loans.

Yeah it processes a few wheel barrows per week. Not really going to cut it is it.

[steveb]

If the pilot plant is cranked up,and if the production results are as positive as we have been led to believe,what do you think is going to happen to the share price? It's not about any revenue from the pilot plant,it's about proving that the mine has at least the potential to produce large quantities of gold.

[blackcap]

From the FY

The metallurgical route for processing of ore was developed during the year, the plant is in place and the
application for resource consent has been lodged.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/335321/300921.pdf

Signalling capital raise?:

The company ended the financial year in a position that, with the ongoing support of its shareholders will
complete the final stage toward gold production over the coming months cementing New Talisman as the
newest underground producer in NZ.

[Timesurfer]

Just one wheelbarrow full of gold would sustain us for a while, so if they are handpicking the material out of a seam they might be able to keep up.

But at the current prices I did buy a handful just to hedge my bets in case Trump declares on the world and the price of gold goes through roof.

[Brain]

From the FY

The metallurgical route for processing of ore was developed during the year, the plant is in place and the
application for resource consent has been lodged.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/335321/300921.pdf

Signalling capital raise?:

The company ended the financial year in a position that, with the ongoing support of its shareholders will
complete the final stage toward gold production over the coming months cementing New Talisman as the
newest underground producer in NZ.

yeah they will probably need more capital. They have done a lot of work and spent a lot of money rehabilitating the mine so that the ore can be removed safely. This long saga is finally nearing an end thanks to current management. I am guessing maybe a 1 for 8 issue plus some options as a sweetener and I will be ok with that.

[Bluemanarc]

Just one wheelbarrow full of gold would sustain us for a while, so if they are handpicking the material out of a seam they might be able to keep up.

But at the current prices I did buy a handful just to hedge my bets in case Trump declares on the world and the price of gold goes through roof.

I have similar thoughts.
Since they have a lot of high grade ore that is cut directly from the vein, they keep that to one side and run it through the pilot plant, they don't need a high capacity plant to do that, and this provides strong income at low process cost.
The rest of the ore, which I would think is maybe 90% to 95% they are looking at sending that to an external processor.
Until they get their resource consent for a larger scale onsite production.
They will work out the best way to do that as things process.
So 2 income streams, the good one starting soon once the consent is approved.
I am happy with all that, I just wish they were a bit clearer in their reports as to what is going on.

[haewai]

... will complete the final stage toward gold production over the coming months ...

Sounds like production, even from the pilot plant, is "months away" and after a "final stage"

[Bluemanarc]

After 10 years, a month or two between friends aint much, once that tap is on, will be interesting to see how much that pilot plant processing selected ore from the vein, produces :)

Anyway, I cant see those shares at 8c lasting very long, good buying considering what I paid for most of mine :(

[Hectorplains]

After 10 years, a month or two between friends aint much, once that tap is on, will be interesting to see how much that pilot plant processing selected ore from the vein, produces :)

Anyway, I cant see those shares at 8c lasting very long, good buying considering what I paid for most of mine :(

It's .008 actually :)

This was apparently 'good buying' back before the last cash raise too, and at a price far north of here. Another CR has all but been announced... at what though, 004?

[Brain]

It's .008 actually :)

This was apparently 'good buying' back before the last cash raise too, and at a price far north of here. Another CR has all but been announced... at what though, 004?

The big difference is that this mine is very close to production. A lot has happened over the last 2 years.

[silverblizzard888]

The big difference is that this mine is very close to production. A lot has happened over the last 2 years.

Production seems like a grant word to use for NTL. I've never seen a mine take so long to get started and even when it starts it'll just be a pilot plant.
No difference to when a game or application is released in beta version. Different stage, different set of problems, just getting into production is not the end, but a mere beginning.

NTL really is playing out to be a tax on hope, theres really better use of capital to be honest, not to mention the opportunity cost. In the last 2 years A2 milk went from $3.38 a share to $15.65. In the same time NTL went from a high of 2.8 cents to 0.8 cents today. The common lay person has no business investing in a gold mine (like literally a gold mine), rather they are better served investing in a common product they see everyday. It's much easier squeezing milk from the tit of a cow, than gold from a rock.

[dubya]

Production seems like a grant word to use for NTL. I've never seen a mine take so long to get started and even when it starts it'll just be a pilot plant.
No difference tong when a game or application is released in beta version. Different stage, different set of problems, just getting into production is not the end, but a mere beginning.

NTL really is playing out to be a tax on hope, theres really better use of capital to be honest, not to mention the opportunity cost. In the last 2 years A2 milk went from $3.38 a share to $15.65. In the same time NTL went from a high of 2.8 cents to 0.8 cents today. The common lay person has no business investing in a gold mine (like literally a gold mine), rather they are better served investing in a common product they see everyday. It's much easier squeezing milk from the tit of a cow, than gold from a rock.

Yup. Well said silverblizzard.

[steveb]

yes well honey is a common product as well silverbliizzard,what you have to remember is that to most share holders this is not an investment as such more like a punt.If you can't afford to lose get out.At the end of the day there are to many things that could go wrong to call it an investment.

[silverblizzard888]

yes well honey is a common product as well silverbliizzard,what you have to remember is that to most share holders this is not an investment as such more like a punt.If you can't afford to lose get out.At the end of the day there are to many things that could go wrong to call it an investment.

Well for starters honey isn't as common as milk for that matter, we see it a lot on supermarket shelves a lot but its not a common staple, honey isn't produced with an easy way to scale either, as we witness with Comvita, the product heavily relies on the good fortune of nature. Comvita did however perform extremely well before they were badly affected by supply. Just like gold, the limit on supply and scale will always come back to bite you, especially if the share price moves beyond practicality.

Now I don't make it my business how people chose to invest their money, but the words have to be said. No investment should be a 'punt', if you don't have faith or knowledge that it can succeed then there is no business for such an investment. Hope is genuinely not an investment strategy. That part I can agree on, no person should invest money they can't afford to lose or lose sleep over. All investments come with risk, that high risk usually is justified by a huge reward at the end. For all the things that might not work out, if on the chance they do then markets tend to reward the investor for it.

[Miway]

I took a punt on this 3 yrs ago and shoved it in the bottom drawer. What goes down must come up....ooops!
Hopefully patience will pay off.

[steveb]

I took a punt on this 3 yrs ago and shoved it in the bottom drawer. What goes down must come up....ooops!
Hopefully patience will pay off.
Yes I took a punt on this one and bought in at .005 and .006.I knew it would be bottom draw stuff,could have sold out near the highs but I actually have faith in the management to take this all the way.

[Blue Horseshoe]

Yes I remember picking up OceanaGold shares in 2008 that some fools were selling at 20c they subsequently went to $5.00

[Brain]

Gold now at NZ $2002/oz

[Landyman]

Only Saints can invest in NTL (patience of), given the last capital raise was stuffed up, and what money they did get was meant to be enough to get this thing going, here we are again, not far from another CR.
On the positive side, gold extraction is closer.
As mentioned by other earlier, this thing is old in the tooth, so a few more months (or maybe years) is nothing.

Saint Landyman

[silverblizzard888]

Capital raising, looks like they were pretty obvious in their hints and they didn't disappoint in their endeavors raising at $0.006875 a share

https://www.nzx.com/announcements/335619

Even a loyalty option too

"In addition, promptly following 26 June 2020, the Company will issue or transfer to each shareholder issued shares in the share purchase plan 1 loyalty share for every 5 shares subscribed for that the shareholder continues to hold on 26 June 2020 for nil additional consideration. "

[Brain]

Seems to be no mention of how much they want to raise.

[Ace]

What ever happened to being "fully funded" ?

[dubya]

Seems to be no mention of how much they want to raise.

They'd be hoping for A LOT more than last time :mad ;:

[youngatheart]

The only way that this would work is if there's an announcement before 1st July to push the price up. Otherwise its not work the effort really...

[haewai]

Last time (or was it the time before?) the offer was followed up by a public offer. I took some in both and did well. I expect to do the same this time around too. Can only see positive announcements from here, although my two big uncertainties are political risk for gaining consent for full scale mining, and funding for full scale processing capabilities.

[Ace]

Last time (or was it the time before?) the offer was followed up by a public offer. I took some in both and did well. I expect to do the same this time around too. Can only see positive announcements from here, although my two big uncertainties are political risk for gaining consent for full scale mining, and funding for full scale processing capabilities.

Did well? I don't think the share price has passed the last CR price, maybe the one before...? although I recall it was the last one that was followed up by a public offer...

[haewai]

Did well? I don't think the share price has passed the last CR price, maybe the one before...? although I recall it was the last one that was followed up by a public offer...


The 0.005c offer

[whatsup]

I really think they need to have a EGM to explain the current position before we can be expected to commit more of our hard earned , from a " investor " since 1986ish .

[bucko]

so the SP will jump up to 0.6875 after the capital raise goes through right? :mellow:

[youngatheart]

If he's reading the actual announcement it says $0.68 not $0.0068...

[Chippie]

Have they caused a bit of confusion?

I assume they are issuing at .68 of a cent. But putting a $ sign in front looks like $0.68 (68 cents)

[steveb]

so the SP will jump up to 0.6875 after the capital raise goes through right? :mellow:
Well picked up,I won't be subscribing at .6875,who does their proof reading!

[psychic]

The operational project plan requires a $1.5M investment over 24 months and has the potential
to generate over 8000 ounces during the period.

https://www.nzx.com/announcements/335634

[Lion]

Paying for 5 new shares and getting 6 makes the effective price 0.5729c, (ignoring any cost of capital considerations by waiting for a year for the sixth share)

I thought it was a bit strange there was no pro rata aspect to the SPP. Do I understand it correctly that any shareholder, no matter how many shares held, can buy between NZ$1k and $15k worth (in $1k multiples)?

It was nice to get some information about what's happening at the mine - better late than never.
I thought the chairman made a pretty solid and convincing case for production to start in the near to medium future.
Price of gold is still climbing.

Mr Market doesn't seem too impressed with this though.

[steveb]

I can't see this SPP raising much,with the SP currently at .006c and a buyers drying up,there is no motivation to buy more shares above the market price.I did last time and boy do I regret it.They have sat on a pile of ore for at least a year and done nothing with it.They are now talking about refining said ore,but it's to little to late I'm afraid.

I presume they did some research before announcing the SPP it would be interesting to see who supported it and why.

[youngatheart]

Unless the Resource Consent gets granted toot-sweet there's absolutely no incentive to participate in this SPP...

[Joshuatree]

Sadly there will be investors who feel dammed if they do and dammed if they dont .In too deep? Wishing and hoping and justifying putting more in? Who wants to crystallise a loss and bail? That is something one needs to man up to sometimes. Support yet another cap raise and trust them or cut your losses and learn not to repeat the experience. Its just one more time , or one less.

[cammo]

What they need to do:

- move majority of wage to variable incentive that’s aligned to share price or skeleton draw until cash positive.
- sharper more regular comms and marketing on progress regardless of size of announcement.
- plan a proper investor roadshow to respectable fund managers.
- And get proactive on existing shareholder registry with communication.
- and MH and CN etc should be buying material $ amounts on market. Zero confidence in their company shows with no buy in from them....a large buy announcement prior to this would have been reasonably smart?

My 2c

[dubya]

Likewise ...... I bought big at their .005 cap raising about 3 years ago ...... was a top 20 holder ...... but after all the cap raises finally sold the last at the start of this year ..... totally disenchanted!!

This from a top 20 holder just under a year ago.

I just hope before anyone puts any more of their hard earned money into this 'rinse and repeat' company, they go back on this thread one year to 01 June 2018 and spend an hour reading. You owe it to yourself to do this at least!!!

And if ya want to go back a bit further, you'll be able to read the shambles around the last SPP. People buying at 3 cents per share, thousands of people around NZ hitting F5 refreshing waiting for analysis and assaying reports when all that came out was the Director issuing a disclosure notice for his removal as a beneficiary from his family trust. Then from memory the SPP @ 2.2c when no one expected it and everyone was still waiting for the reports to come out. The share price absolutely collapsed. Very little raised in the SPP but the Company still had the audacity to call the SPP a success. And I could go on, but it just depresses me. :scared::scared::scared:

[whatsup]

LET the fish heads show the way and indicate their commitment to the SPP with a line in the sand/public statement as to their absolute committed SPP buying !

[Timesurfer]

What they need to do:

Is produce some gold!

[bucko]

My 2c

I wish it was back at 2c

[Brain]

To me it makes no sense at all after following this company for a number of years to not support the SPP. I am optimistic that many others will see it the same way and the $1.5m is raised
To put it another way 100 shareholders at $15,000 = $1.5m. Should be easy.This company is very close to producing gold.

[Hectorplains]

To me it makes no sense at all after following this company for a number of years to not support the SPP. I am optimistic that many others will see it the same way and the $1.5m is raised
To put it another way 100 shareholders at $15,000 = $1.5m. Should be easy.This company is very close to producing gold.


Alternative view... It makes no sense at all to chuck more $ at this pup. The number of years following... or worse yet, being invested in this, are irrelevant as potential investment indicators. WHY would anyone throw yet more coin at this? Looking at the CR price it's not at a significant reduction to the current share price... indeed, it could be higher. The 'offer' is an open one... it will go on and on... and act as a huge anchor on the share price. Look at what is LIKELY to be raised and the salaries being paid.. You're financing someone else's lifestyle... Is there any real evidence that his company is "very close to producing gold." That is in marketable quantities... The answer is., no.

[Lion]

Brain, I'm an optimist too. Always have been.


(Incidentally, aren't there a lot of moaning Aussies on the HotCopper site about NTL?? No resilience!)


The share price could go up or down in the next year. A simple fact.
The only way it will go down in 12 months is if management royally screw things up and there is no gold produced. Unlikely, I reckon.


If it goes up, even one "tick" (0.1c) then new shares bought in the SPP at about 0.6c (see my previous post) will show a 16.6% p.a. improvement.
What are banks paying now as interest?


If the sp rises 1c, that's 166%. And on and on . .


I'm in to this SPP with bells on!

[blackcap]

The only way it will go down in 12 months is if management royally screw things up and there is no gold produced. Unlikely, I reckon.




Lets keep this one for posterity.

I think the same has been said over and over at prior cap raisings too. Management to date have screwed things up if using the SP is used as a metric. What is suddenly going to change?

Happy to be proven wrong but I was in this company some 25 years ago (also at about 3 cents or thereabouts) and the last 25 years have taught me not a lot has changed.

[Brain]

I like the cut of your jib Mr Lion

[Brain]

Lets keep this one for posterity.

I think the same has been said over and over at prior cap raisings too. Management to date have screwed things up if using the SP is used as a metric. What is suddenly going to change?

Happy to be proven wrong but I was in this company some 25 years ago (also at about 3 cents or thereabouts) and the last 25 years have taught me not a lot has changed.

A lot has changed. Rehabilitation of the mine being the most important plus all the electrical communication and water services. It makes no sense to me that some believe that management and directors see this mine solely to pay salaries and directors fees. If that was the case then very little money would be spent on rehabilitating the mine. It would be more sensible for them to sit on a pile of cash enough to pay fees and salaries for a number of years whilst spending their time on the golf course.

[blackcap]

A lot has changed. Rehabilitation of the mine being the most important plus all the electrical communication and water services. It makes no sense to me that some believe that management and directors see this mine solely to pay salaries and directors fees. If that was the case then very little money would be spent on rehabilitating the mine. It would be more sensible for them to sit on a pile of cash enough to pay fees and salaries for a number of years whilst spending their time on the golf course.

You have to actually do something and be seen to be doing something otherwise the next cap raise does not succeed....

That said maybe mgmt and directors do not see the mine as solely to pay their salaries. What would I know. I just look at the SP over the last 25 years.

[Meister]

This is a tough company to be in. I have supported them a long time now, and without a doubt a lot of progress has been made, but oh so slow. So incredibly slow. Management have given timeframe estimates at various times and consistently not hit them; its incredibly frustrating to see them run out of money before the bulk sampling has even properly started, contrary to all the prior statements they have given. To see it get stuck right now on a consent that I don't recall ever being mentioned as being required before is also incredibly disheartening - did management just not tell us? Or worse, did they not know? How can they have the whole plant ordered and ready to go and consents still be waiting?


I think its clear that communication needs to improve, and I would like to see the team getting held accountable to targets with very clear explanations for why they are apparently achievable, what risks are known to exist that could impact those targets, etc
In particular I want to hear directly why a capital raise has been required again despite earlier predictions. If mistakes were made... then be honest and let us know you have learned something from them. Its hard to feel any confidence about the current capital raising with that kind of error looming in recent history.


In saying all that, they really are now incredibly close to getting gold out of the mine. The market cap of the company is very low compared to the amount of gold they are sitting on. IF this snail can just move past the starting line and everything be consented and moving, this has strong upside potential.


Its a tough one.

[Yoda]

Some photo evidence of development would be good, even an open day, or video on line to show what has been going on ... I bought at .005 a couple of years ago, and sold out at .035 ish . Bought some back at .0.008 and sold next day for 0.009 a few weeks back . I still have a million or so , so nothing much . Over the years it has been good to me, but i think it is a hopeless case really. Is management really worth being paid so much for giving so little.....?

[steveb]

they do say that planned production is 8000 over the next 2 years,so this should be the last SPP.It would be nice to know what sort of production costs they have budgeted for.They are also planning on a 20% corporate overheads reduction,again it would be nice to know where these savings are coming from.

[dubya]

they do say that planned production is 8000 over the next 2 years,so this should be the last SPP.It would be nice to know what sort of production costs they have budgeted for.They are also planning on a 20% corporate overheads reduction,again it would be nice to know where these savings are coming from.

I think it was Shakespeare that said., " Words don't even move the leaves on the trees"

[Brain]

I think it was Shakespeare that said., " Words don't even move the leaves on the trees"

Yes he probably did but I think Bill Shakespeare would concede that rock bolts mesh and explosive use to rehabilitate 1.5 km of tunnel would move the leaves on trees.

[swissboy]

Everybody as dumb struck as me. No comments for 5 days

[haewai]

The current situation was entirely predictable. Unless you were in the same clubhouse as the poster below:


they have plenty of cash to get the pilot plant running,if they can then get the recovery rates confirmed,it won't be a matter of a capital raise it will be a fight to stave off takeover threats!

[steveb]

Everybody as dumb struck as me. No comments for 5 days
I think everyone is waiting for the good news.The SPP is not going to work without some.

[whatsup]

I think everyone is waiting for the good news.The SPP is not going to work without some.

As I said a week or so back I think they owe us a EGM to fully explain the current situation, and without it I cannot see the SPP as successful !

[Landyman]

If NTL stay true to form, there will be good news. They do it every time, hand out for cash, promise the world (based on "science") then let things slide. There is progress - mine refurb, pilot plant, more consents, but how far away until we see some real production - anyones guess.

[Brain]

I think everyone is waiting for the good news.The SPP is not going to work without some.

The contents of the SPP offer document was good. It’s all a matter whether or not shareholders believe the story. I think these guys have made very good progress with what is a difficult task politically technically and financially. I believe the story and will support the SPP. For me the decision is easy - black and white - support it or sell my shares. 1.5m$ is not a large sum of money to raise and I would expect that the board do have alternative funding arranged if shareholders do not come up with enough dosh.

[Lion]

I've been watching the price of gold this afternoon at goldprice.org
It's gone up approx NZ$12 or 0.6% to $2027
Is it normal for there to be this much fluctuation in a few hours, or is this a trend starting?
I haven't noticed any report of war.
Has to be good for NTL, if it is a real upward movement. Any price increase goes straight to bottom line profit.

Oh yeah, they aren't producing any gold yet, are they? Shame about that.

PS at 3:30 the increase hit NZ$14!
Part of it is because of a drop in NZD v USD.

[peat]

Is it normal for there to be this much fluctuation in a few hours, or is this a trend starting?

Part of it is because of a drop in NZD v USD.

Its not that unusual for price to move steadily in one direction for a few hours or more. However it is looking like a bit of a breakout on the upside

10609

[Bluemanarc]

Very disappointing to see such slow progress.
Maybe a couple of directors should be down there with a crusher and sluicing pan, at least producing some gold.

Lucky I have property trading making me big money, and I can chuck in another lazy 15k to help support them get this thing going.
Bought something 325k under asking price and flicking it now, that's an easy 250k profit, a lot faster than shares.

Shares is boringly slow.
You can lose a lot of money on a squiggly line, at least property you have more control.

I am doubling down and looking forward to actually seeing some gold and see how this long long term investment turns out.

Next time, someone in property says, "This could be a goldmine" - I will tell them to **** off I am not interested :)

[Brain]

Gold at $2045/oz this morning - got to be good for NTL

[haewai]

Gold at $2045/oz this morning - got to be good for NTL

Or not. Market has reached that price twice already this year. The NTL share price trend seems to move in an opposite direction.

[swissboy]

Within 1 week we will have some ultra great announcements from the Company. It is only words that will move the S/P

[steveb]

The gold price is irrevelant at the mo as there is no gold to be sold.It's all very well to look at the rising value of the ore at the mine.but they need to get it out and refine it first!

[Lion]

It is only words that will move the S/P

Or gold, Swissboy!
I seriously wonder why a director or two don't actually go to the mine and pan some gold - great publicity, great for the shareprice, great for the SPP.

[haewai]

Because the gold is locked up in quartz?
I'd be happier knowing the directors were fronting up $15000 each to support the offer. But the documentation is quiet on this.

[Lion]

Or not. Market has reached that price twice already this year. The NTL share price trend seems to move in an opposite direction.

Have to disagree there, haewai. It hasn't been above NZ$2000 in the last twelve months until the start of this month, June.

It's up to $2064 now. And NTL is up 16% today!

https://goldprice.org/charts/history/gold_1_year_o_x_nzd.png

[haewai]

https://goldprice.org/charts/history/gold_6_month_o_x_usd.png

And as pointed out innumerable times, the price of gold is irrelevant until there is some in hand.