NTL - New Talisman Mine - New board & Directors

[haewai]

They have resource consent to remove 20000 cubic mtrs of ore a year,which will be trucked out of the mine and treated as per most ordinary mines.The pilot plant is the basis for the new plant which will require new consents,which is what the company is referring to.

Wrong again.

The relevant resource consent is for bulk sampling, up to 20,000 cm per year, for two years, as granted in 2013. The start of the two year period was triggered in September 2018, so 13 months left.

I intend my posts to be purely informative, to act as balance against speculative hype and misinformation. I will be participating in the remaining capital raise; your should make up your own mind after doing thorough research.

[steveb]

Wrong again.

The relevant resource consent is for bulk sampling, up to 20,000 cm per year, for two years, as granted in 2013. The start of the two year period was triggered in September 2018, so 13 months left.

I intend my posts to be purely informative, to act as balance against speculative hype and misinformation. I will be participating in the remaining capital raise; your should make up your own mind after doing thorough research.
This from the annual report in june:-
the resource consent which allows approximately two years andup to 20,000 cubic metres per annum to be extracted has beenconfirmed by Council to commence upon the trucking of four 10tonne trucks a day of ore from the mine
So you would appear to be confused yet again,the 2 years had clearly not started in june.
This also from the same annual report:
The directors are pleased to advise that the consents required to enable the blasting,extraction and transport of ore from the mine to plant are in place to allow the team to get on with the practical work of mining.The company holds a 25-year mining permit and the necessary consents for its bulk sampling plan, including approval of the TrafficManagement Plan allowing up to nine (9) 10 Tonne trucks a day with an average of four (4) to transport ore from the mine to plant forprocessing.
I strongly suggest you read the annual report and inwardly digest before you spout off with any more disinformation.

[haewai]

This from the annual report in june:-
the resource consent which allows approximately two years andup to 20,000 cubic metres per annum to be extracted has beenconfirmed by Council to commence upon the trucking of four 10tonne trucks a day of ore from the mine
So you would appear to be confused yet again,the 2 years had clearly not started in june.
This also from the same annual report:
The directors are pleased to advise that the consents required to enable the blasting,extraction and transport of ore from the mine to plant are in place to allow the team to get on with the practical work of mining.The company holds a 25-year mining permit and the necessary consents for its bulk sampling plan, including approval of the TrafficManagement Plan allowing up to nine (9) 10 Tonne trucks a day with an average of four (4) to transport ore from the mine to plant forprocessing.
I strongly suggest you read the annual report and inwardly digest before you spout off with any more disinformation.


Lol: "The board of New Talisman Gold Mines is delighted to announce it has officiallycommenced its consented mining activities under the resource consent grantedin 2013."

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/324144/287114.pdf

[whatsup]

This from the annual report in june:-
the resource consent which allows approximately two years andup to 20,000 cubic metres per annum to be extracted has beenconfirmed by Council to commence upon the trucking of four 10tonne trucks a day of ore from the mine
So you would appear to be confused yet again,the 2 years had clearly not started in june.
This also from the same annual report:
The directors are pleased to advise that the consents required to enable the blasting,extraction and transport of ore from the mine to plant are in place to allow the team to get on with the practical work of mining.The company holds a 25-year mining permit and the necessary consents for its bulk sampling plan, including approval of the TrafficManagement Plan allowing up to nine (9) 10 Tonne trucks a day with an average of four (4) to transport ore from the mine to plant forprocessing.
I strongly suggest you read the annual report and inwardly digest before you spout off with any more disinformation.

Agree as I understand it, but in order to avoid confusion ( if there is any noe ) and not waiting for a complete heads up should the company be contacted for clearification as it appears to me now that ,
1/ we have the necessary permits.
2/ we have the funding ( shortly to be confirmed after the last SPOP closes )
3/ we have the expertise.
4/ we have the high grade ore.
5/we have the pilot plant ready to go.

Anything else ?

[steveb]

No you are wrong if you read the annual report you will see that there are multiple consents,The consent for blasting and actual mining is what the company referred to in this report,hence the stockpiling of the ore.

[haewai]

No you are wrong if you read the annual report you will see that there are multiple consents,The consent for blasting and actual mining is what the company referred to in this report,hence the stockpiling of the ore.

I hope you're right and I'm wrong and it's just coincidental that the resource mentioned in the Sept 2017 release is for "The consent allows up to 20,000 cubic metres per annum of ore to be extracted."

[Bluemanarc]

Wrong again.

The relevant resource consent is for bulk sampling, up to 20,000 cm per year, for two years, as granted in 2013. The start of the two year period was triggered in September 2018, so 13 months left.

I intend my posts to be purely informative, to act as balance against speculative hype and misinformation. I will be participating in the remaining capital raise; your should make up your own mind after doing thorough research.

You have got it all wrong buddy, bit of a fail really

[steveb]

Agree there seems to be this 15% max bandied around,they say this is part of the same SPP,it makes no sense to me that the company has not clarified this,and advised what % was sold in the 1st and 2nd part of this SPP and what is available in the 3rd part.

If we don't hear soon,I will drop them an email,as I could do with another couple of mill,but don't want to be scaled back

Just letting you know,I did email the company last monday,to clarify the amount of shares still available,and if there was to be any scaling back or was it on a first come first served basis.

Sadly I did not hear back!!

[Brain]

Just letting you know,I did email the company last monday,to clarify the amount of shares still available,and if there was to be any scaling back or was it on a first come first served basis.

Sadly I did not hear back!!

try

matt@newtalisman.co.nz

he usually gets back with answers within a few hours.

[Bluemanarc]

How long have we got to buy shares at this cheap price before the deal closes ?
Its next week right, but what is affectively the last day we can put our orders in.

[Brain]

How long have we got to buy shares at this cheap price before the deal closes ?
Its next week right, but what is affectively the last day we can put our orders in.

Application form and dosh must be received by 5pm 30th August

[whatsup]

S Hers should shortly receive the AGM notice .

[Flugenbear]

Last day for the Capital raise coming up.....will be interesting if there is any upward movement of the SP next week when it is revealed what has been raised. They should be well cashed up now to get things moving ahead again, having already raised more than they needed....for now....

[Chippie]

I took the plunge and grabbed some more NTL today under the shortfall offer.

[Bluemanarc]

Yep I got heaps more as it was too tempting at such low values.
I guess we will see the end of the people selling at 8c and then buying back at 6c to recover shares.
Interesting to see if there was enough allocation to go around for this strategy to be affective.

Then there is the hundreds and hundreds of new shareholders with tiny small allocations of shares.
I wonder what they will do when the SP starts rising when we are gold producing.
Will they join the party and actually get proper holdings ?

Great for a small share like this, to have a larger shareholder base now, all these excited people getting in on this penny dreadful :)

[Ltw]

I got a few more to.
Fingers crossed the SP rockets up from here. The price of gold is continuing to rise too. Seems everytime Trump opens his mouth it jumps $15.00 lol.

[CD_CHCH]

Looked at it, was sorely tempted given the low entry price......but its a speculative gamble so decided not to tip my toe in at this stage. Maybe down the track when they have a few more runs on the board - mind you if they start pulling large amounts of gold out of the ground the share price will rocket up and I'll be left kicking myself for not jumping in.

[Rosco]

Surely share dilution must be a critical issue now?

We are going to have over 2.5 billion shares on issue. Worth thinking about (or maybe not haha).

[whatsup]

Should be interesting from here on out, firstly we need to know how successful the SPP was and how much money was committed ( lets hope that its the last C R ) towards their exciting future, then we need an update as to how they are to spend our hard earned , based on these it will be interesting how "punters " view the future which will be reflected in demand for shares in the immediate future.

[Ltw]

Would be nice to see the 5m sellers shares @ .008 pull back those shares. with the amount traded lately id say it would be climbing quite quickly.
I think the Shareses effect could send this stock skyward quite quickly.

[Bluemanarc]

Would be nice to see the 5m sellers shares @ .008 pull back those shares. with the amount traded lately id say it would be climbing quite quickly.
I think the Shareses effect could send this stock skyward quite quickly.

Yep its exciting time, and there was 10.8m selling at .08c a week ago !!

[Ltw]

I Found the Aus Hot Copper website quite informative with all the photos of the mine etc. they seam to be talking to NTL management a bit with hints of a bit of good news coming our way. fingers crossed.

Update
Dam 3.3m + shares moved today 1 trade a 2.8m someones keen!!

I started this journey at 1.8c and continued to buy on the way down in the hope that it would come good. my Avg is finally back under the current price...... go you good thing!!

[jonu]

I would expect the sub 1c sellers to evaporate or get taken up pretty quick from here. The results from the shortfall should be released pretty quickly. Then it would appear we are due a steady stream of good news. Assay results, and hopefully at least monthly oz produced results. We are extremely fortunate with the POG being where it is currently. Long may it continue.

As for the Shortfall....I backed up the truck :)

[Lion]

Trading has been slower than I'd expected since the end of the SPP, but higher than it had been during it.
3.3m traded yesterday and over a million through today before 11 am, all at 0.8 except for a $16 trade at 0.7.
Only about a million shares left at 0.8
Bring it on!

I bought into the shortfall too, jonu - I wonder if there will be scaling.

[jonu]

Trading has been slower than I'd expected since the end of the SPP, but higher than it had been during it.
3.3m traded yesterday and over a million through today before 11 am, all at 0.8 except for a $16 trade at 0.7.
Only about a million shares left at 0.8
Bring it on!

I bought into the shortfall too, jonu - I wonder if there will be scaling.

I think they can raise approx 15% more of the shares on issue for an SPP, so approx $3million in total, so I doubt they will have to scale on the shortfall. It's going to be a fantastic 12 months coming!

[Ltw]

Few shares sold so far today and it's back in the 9's bring on the 10's

[whatsup]

Holding .009 and waiting for an update, hopefully by the weeks end .

[Ltw]

Site I look at shows 5.5m shares traded today. Is this correct?

[whatsup]

Site I look at shows 5.5m shares traded today. Is this correct?

7.5 mil close on .009

[Ltw]

Wow all we need now is a run of good news. Very tempted to go to the AGM and see what it’s all about. (Never been to one)

[haewai]

In amongst all this jolly back-slapping depth-watching vacuous banter, I'm wondering what the hold up is with the results from the test phase of the pilot plant. Hopefully not bad news.


It is expected that the test phase will be completed by September 2019 ....

[digger]

In amongst all this jolly back-slapping depth-watching vacuous banter, I'm wondering what the hold up is with the results from the test phase of the pilot plant. Hopefully not bad news.

My guess is a holdup for the AGM.. Now your not suppost to do that but an excuse can be found. I would say if it is bad news they would want to get it out before the AGM,as they will not get past the AGM without a scream and hollor otherwise.
But just my thoinking with nothing to go on.

[Ltw]

In amongst all this jolly back-slapping depth-watching vacuous banter, I'm wondering what the hold up is with the results from the test phase of the pilot plant. Hopefully not bad news.

They are busy finalising the results from the short fall offer is my guess.
Has anyone had their shares from the short fall added to their account yet?

[Lion]

Has anyone had their shares from the short fall added to their account yet?

Not yet, just checked.
Although today's trading started and finished on 0.9c, almost all the trading was at 0.8
The Volume Weighted Average Price (VWAP) was only a whisker above .8 at 0.807

[Ltw]

Still nothing today on short fall. I have emailed them not long ago to ask for an update

[Lion]

Still nothing today on short fall. I have emailed them not long ago to ask for an update

Let us all know what you learn please, Ltw?

I must say I'd been expecting more positive sp movements this week.

I'm trying to find a reason. Have some people bought cheap in the SPP and now taking a quick profit?
(They could do this without risking the 1 for 5 bonus shares in a year, either because they already held some, or maybe the year doesn't start until the SPP shares are allocated)

New sellers keep turning up on the sell at 0.9 and the buyers at 0.8 are getting thin.

To me, it seems NTL is right on the cusp of finally delivering. The SP has been at 1.9 (maybe even 2.0 briefly) in the last year, and since then, the price of gold has risen substantially and production has got much closer. It's got me scratching my head about why the SP is not higher. Any thoughts, anyone??

Never mind, I'm fully loaded, ever-hopeful and looking forward to good assay results and the first lump of shiny gold stamped with NTL!

[blackcap]

well for starters you can buy them on the ASX for 0.8 cents so you would be foolish to buy them here for 0.9 cents.

So its quite possible that the sellers keep appearing at 0.9 as when they sell they can buy for 0.8 on the ASX (about 0.855 accounting for x-change rate) and make a quick arbitrage profit.

Other than that the usual story I guess. This thing has been going on for over 20 years in a variety of forms and has yet to deliver. Maybe the market is getting tired of repeated capital raisings and name changes.

[Brain]

I wouldn’t expect any buying pressure from NZ for a while. The NZ punters could have purchased all they wanted during the SPP at a much lower price.

Most days the volume being transacted is very small $ wise.

[haewai]

There is still a lot of risk. For starters, will the pilot plant work, and what will it cost to scale? What regulatory problems are there going to be interpreting "no new mines" and gaining full mining consent? Etc

[haewai]

Check your registry accounts. My new issue is showing. No scaling.

[Ltw]

Check your registry accounts. My new issue is showing. No scaling.


Short fall is in. What do you mean by No scaling Haewai?

[Ltw]

o SHORTFALL SUCCESSFULLY RAISES $1.89m


o TOTAL RAISED UNDER OFFER $3.6m




pilot plant has commenced processing batches of


high grade ore for which assay results will be announced in the next week.

Bring on the good news!!!

[haewai]

Scaling happens when demand exceeds supply. Supply for this issue could have been restricted by the 15% NZX listing rule. Looking at the numbers, the new issue is about 13% of the ordinary shares reported in the annual report. So the shortfall wasn't entirely taken up.

[blackcap]

o SHORTFALL SUCCESSFULLY RAISES $1.89m


o TOTAL RAISED UNDER OFFER $3.6m




pilot plant has commenced processing batches of


high grade ore for which assay results will be announced in the next week.

Bring on the good news!!!



































Why the price drop by more than 10% on that news?

[steveb]

Why the price drop by more than 10% on that news?
market forces,if you just got a load of shares for under .007c and you are a trader selling them for .008c makes sense

[haewai]

Why the price drop by more than 10% on that news?

:) ahh, yep

[Paint it Black]

:) ahh, yep

It could also be due to the dilution effect of the greater number of shares now in circulation bought at a lower price. Hopefully market forces will quickly absorb this however. My concern is that any good news/SP rise will trigger another capital raising at a discounted rate which has happened several times in the past. If i get to to the AGM I'll be asking for some comment on this from the Board. One hopes, together with expected gold sales they now have sufficient funds in the bank to service and grow the mine it at a steady rate.

[Brain]

Shareholders have just pumped 3.6M$ into the stock and you guys are surprised there is not much more buying interest.

Try buying $50000 of shares and see what you will have to pay for them.

[Clints]

"try buying $50000 of shares and see what you will have to pay for them" - probably close to $50,000 (sorry had to :)

[Brain]

- probably close to $50,000 (sorry had to :)[/QUOTE]

Well done . I am hopeful , In fact more than hopeful that shareholders will make some good money out of this share and it will be well deserved.

[Bluemanarc]

Shareholders have just pumped 3.6M$ into the stock and you guys are surprised there is not much more buying interest.

Try buying $50000 of shares and see what you will have to pay for them.

Exactly, only tiny amount available at .008c at the moment, and so some people who bought in at 6c to sell at 8c and sold to make a bit of coin, but not many considering how much was bought.

The drop is "Fake Weather"

[Rosco]

It could also be due to the dilution effect of the greater number of shares now in circulation bought at a lower price. Hopefully market forces will quickly absorb this however. My concern is that any good news/SP rise will trigger another capital raising at a discounted rate which has happened several times in the past. If i get to to the AGM I'll be asking for some comment on this from the Board. One hopes, together with expected gold sales they now have sufficient funds in the bank to service and grow the mine it at a steady rate.

Yup, the ones that have been in it for awhile know the story all too well. It would be interesting to calculate the amount of money raised across the SPP's over the years compared to the current market cap.

[whatsup]

Yup, the ones that have been in it for awhile know the story all too well. It would be interesting to calculate the amount of money raised across the SPP's over the years compared to the current market cap.

Yup Ive been here since Crusader Minerals circa 1986 !!

[Rosco]

Yup Ive been here since Crusader Minerals circa 1986 !!

Holy! I've only been 'in' since 2013 and already it's just groundhog day every 6 months. I don't bother reading the SPP's anymore. I'm content to sit on my vastly diluting shareholding until some proper mining starts happening.

[Lion]

Holy! I've only been 'in' since 2013 and already it's just groundhog day every 6 months. I don't bother reading the SPP's anymore. I'm content to sit on my vastly diluting shareholding until some proper mining starts happening.

Well, that's awful for you, Rosco and whatsup. Truly.

I have a similar story, maybe worse, with a couple of junior Aussie oilers - Target (TEX) is one, the other has changed names many times since I've held, from NEO to QPN to IND and they want some more money now and are going to change their ticker code back to NEO.
On my portfolio, they show horrendous losses of 97% and 94%. Yes, better forgotten!

(On the brighter side with Aussie oilers, I've made 28% on Beach (BPT) in less than a month. Still holding)

But I have only been in NTL a year or so, through just one cap raising, and I feel pretty darn positive about them.

Let's hope we all make some money out of this company soon.

[Chippie]

The original Crown Mines in Karangahake started in 1883 and did not pay its first Dividend until 1896. Between then and 1926 3.5 million ounces of gold was taken out of this area. So in that case it was worth the wait. The good news is that we will not be waiting anywhere near as long as the original mine.

[Joshuatree]

Yup Ive been here since Crusader Minerals circa 1986 !!

It would be very revealing and helpful if you could put the number of cap raises and the $ amounts from then until now on here ,what sup?

[Chippie]

Not sure if there is value counting capital rasing before HGD and NTL. I think anything prior has to be a write off as they were not able to get to this position that the current management has achived

[Lion]

The VWAP today was 0.815c

I find this figure of some interest.
It's available at https://stocknessmonster.com

[Ltw]

I wonder how closely OGC are watching this all play out. it must be starting to get there attention

[Rosco]

I wonder how closely OGC are watching this all play out. it must be starting to get there attention

I don't think it would be even the smallest blip on their radar. OGC and NTL are completely different businesses.

[steveb]

I don't think it would be even the smallest blip on their radar. OGC and NTL are completely different businesses.
Sure OGC is a different business model,but they would be fools to not be looking at how NTL are getting things done.Under Labour and the Greens OGC would not be expecting much in the way of expansion.But the NTL model seems to be working,and I am sure OGC are watching closely.

[Rosco]

Sure OGC is a different business model,but they would be fools to not be looking at how NTL are getting things done.Under Labour and the Greens OGC would not be expecting much in the way of expansion.But the NTL model seems to be working,and I am sure OGC are watching closely.

The scale of operations cannot be compared. FYI OGC has a little mine about 25km down the road from the Talisman which has been back in operation since 1987. They are well aware how things work in regards to local & national area politics I suspect.

[steveb]

The scale of operations cannot be compared. FYI OGC has a little mine about 25km down the road from the Talisman which has been back in operation since 1987. They are well aware how things work in regards to local & national area politics I suspect.
FYI that little mine produced 83492 oz of gold last year,but they are running out of ore.OGC are looking at the Martha vein,to add possibly another 10years to the mines life,but they do use cyanide to recover the gold,which is going to be a hard sell to the greens.

They are going to be very interested in how NTL get on with regard to extraction and resource consents,to suggest otherwise would be an insult to OCG.

[Rosco]

FYI that little mine produced 83492 oz of gold last year,but they are running out of ore.OGC are looking at the Martha vein,to add possibly another 10years to the mines life,but they do use cyanide to recover the gold,which is going to be a hard sell to the greens.

They are going to be very interested in how NTL get on with regard to extraction and resource consents,to suggest otherwise would be an insult to OCG.

Those are fair points.

Been a NTL shareholder for a few years now has turned me into a real skeptic haha.

[youngatheart]

Sooo, assay results, today or tomorrow?

[steveb]

Sooo, assay results, today or tomorrow?
Sounds good to me but what are your guesses? Given that the Waihi mine down the road are looking at production of ore with 4-6g per tonne.

[Brain]

My understanding is that the work that NTL are doing at the moment is in investigating how good the gold recovery of the ore is with the pilot plant. The question is will the pilot plant give good results in gold recovery? If the results are good the environmentally friendly plant can be scaled up , if not then another recovery method is required.

[steveb]

My understanding is that the work that NTL are doing at the moment is in investigating how good the gold recovery of the ore is with the pilot plant. The question is will the pilot plant give good results in gold recovery? If the results are good the environmentally friendly plant can be scaled up , if not then another recovery method is required.
Yes but the assay results are more important at this stage.you can't plan anything without knowing how much gold you can expect to produce.This from the announcement last week:-
As previously announced the pilot plant has commenced processing batches of high grade ore for which assay results will be announced in the next week.

[RTM]

Sounds good to me but what are your guesses? Given that the Waihi mine down the road are looking at production of ore with 4-6g per tonne.

I'm a real novice on this thread.
So you are saying 4-6 grams of gold per Tonne (1000kg)
So given that a teaspoon is about 5gm (ml's)....that's less than a teaspoon ? 0.0005% of what they extract is gold ?
Jeeze…..not a lot ….is it ! Prefer NZO !

[blackcap]

I'm a real novice on this thread.
So you are saying 4-6 grams of gold per Tonne (1000kg)
So given that a teaspoon is about 5gm (ml's)....that's less than a teaspoon ? 0.0005% of what they extract is gold ?
Jeeze…..not a lot ….is it ! Prefer NZO !

Im a novice too but a tonne of ore is not that much. Just a few wheelbarrows full. 5 grams of Gold is still worth $400 or thereabouts. So a few wheelbarrows of ore that have been processed could be worth $400. Not to be sneezed at.

[Bluemanarc]

Going to AGM next week I have decided.

Will let you know if the team are smiling or not.

I have found that their is a big gap in perception of this company and stock, between what is read on here, what the company releases out as notices, and what is said verbally at AGM's.

[RTM]

Im a novice too but a tonne of ore is not that much. Just a few wheelbarrows full. 5 grams of Gold is still worth $400 or thereabouts. So a few wheelbarrows of ore that have been processed could be worth $400. Not to be sneezed at.

Yes....I got a trailer load of topsoil the other day. Pretty sure it was 1cubic meter = 1 tonne. (Trailer wheels flat) Quite a few barrow loads. But yes... $400 of gold...would have been good to find in it. A teaspoon !

[swissboy]

Very happy with you going. I too had intended to ask some questions regarding Directors spending but have a meeting in Ch-Ch.

[Ltw]

I'm a real novice on this thread.
So you are saying 4-6 grams of gold per Tonne (1000kg)
So given that a teaspoon is about 5gm (ml's)....that's less than a teaspoon ? 0.0005% of what they extract is gold ?
Jeeze…..not a lot ….is it ! Prefer NZO !


I don't think you can compare Waihi mine and Talisman mine
You are best to read through some of the announcements over the last couple ofyears to get a better feel for it. Talisman have a number of veins and areas ofhigh-grade concentration.

Notes from a couple of announcements awhile back:

Results from Mystery Vein Extension
Eight tonnes of ore have been removed from the face and the results ofregular in stream sampling have identified gold grades ranging from 6.2/t Au to18.2g/t Au for an average of 11.9g/t Au. Silver ranges from 23.0g/t Ag to 37g/tAg for an average of 28.3g/t Ag

Testwork reveals high recovery of gold
Test work 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 themajor contributor containing approximately 91% of the mines 469,000 Oz AuEqMineral Resource within the Dubbo, Bonanza and Woodstock Zones. The averagegrade of the resources in these zones is estimated at 22.0g/t, 23.6g/t and6.3g/t AuEq respectively with some 313,000 Oz lying in the Dubbo Zone.

We are all hoping for good results from the pilot plant. All going well we will see them today or tomorrow

[blackcap]

Yes....I got a trailer load of topsoil the other day. Pretty sure it was 1cubic meter = 1 tonne. (Trailer wheels flat) Quite a few barrow loads. But yes... $400 of gold...would have been good to find in it. A teaspoon !

1 cubic metre of ore is about 2.5 tons. So you only need .4Mcubed of ore for 1 tonne. Topsoil I do not know about, that is a lot lighter than ore I guess.

[whatsup]

Yes....I got a trailer load of topsoil the other day. Pretty sure it was 1cubic meter = 1 tonne. (Trailer wheels flat) Quite a few barrow loads. But yes... $400 of gold...would have been good to find in it. A teaspoon !

16 wheel barrows per 1 tonne I think !

[RTM]

16 wheel barrows per 1 tonne I think !

Sounds about right...she was busy with the wheel barrow for a while !

[blackcap]

Yes....I got a trailer load of topsoil the other day. Pretty sure it was 1cubic meter = 1 tonne. (Trailer wheels flat) Quite a few barrow loads. But yes... $400 of gold...would have been good to find in it. A teaspoon !

Not even a teaspoon. Gold is quite heavy. 5 grams of gold would be about a 1/3 of a teaspoon :)

In fact I just checked and got that wrong. 1 metric teaspoon of gold weighs 86.55 grams. So 5 grams of gold is about 1/17th of a teaspoon.

Luckily for investors gold is sold by weight and not volume.

[Brain]

Yes but the assay results are more important at this stage.you can't plan anything without knowing how much gold you can expect to produce.This from the announcement last week:-
As previously announced the pilot plant has commenced processing batches of high grade ore for which assay results will be announced in the next week.

I think the assay results you refer to are purely about the performance of the pilot plant. They just need to know what the % recovery rate of processed ore is. In other words how much gold will they miss. I suppose a 95% recovery rate would be acceptable.

[whatsup]

Sounds about right...she was busy with the wheel barrow for a while !

Ahh now that warms the cockles of my heart !!

[steveb]

I think the assay results you refer to are purely about the performance of the pilot plant. They just need to know what the % recovery rate of processed ore is. In other words how much gold will they miss. I suppose a 95% recovery rate would be acceptable.
The assaying is simply a way of determining the quantity of each element in a sample,and has nothing to do with the performance of the plant.NTL have advised that they have put high grade ore through the plant,so the assay results should get a few people to wake up and say wow,if they can get close to 20 g/t it would certainly put the mine in the top 10 highest grade mines in the world.

[Antipodean]

Yup, the ones that have been in it for awhile know the story all too well. It would be interesting to calculate the amount of money raised across the SPP's over the years compared to the current market cap.



FY
2013
2014
2015
2016
2017
2018
2019
2020
Total


Proceeds from share capital issued
1,544,780
919,464
1,443,290
614,998
6,373,013
1,925,910
-
3,600,000*
16,421,455



*approximate as ANNREP not out at this time.

[haewai]

Very happy with you going. I too had intended to ask some questions regarding Directors spending but have a meeting in Ch-Ch.

Such a question: the 2015 annual report identified a commitment to reduce director and executive remuneration. These then doubled in 2017, from $250K to $500K, after a very modest drop between 2015-2016. What can current directors promise regarding their recently announced goal of reducing these costs?

[dubya]

I'm still waiting to see an SPH notice for Mr Hill or any of the other directors to show that they participated in the SPP. Mmmmn


I bet that they would have, money for jam especially with the 2020 free share and now the POG !

This from a month ago.
I still haven't seen an SPH. I can only assume that none of the Directors bought anything in the SPP or shortfall, as any newly purchased shares should have been disclosed by now.
That speaks volumes to me.
Perhaps someone at the AGM could ask why?

[Lion]

Just four business days till the AGM.
Did I read (or did I dream it??) that our board hoped to have some gold to show at the AGM?

The VWAP price today was only just short of 0.8, at 0.799c Sellers at 0.8 are thinning, only about half a mil shares there, but can't quite seem to get to 0.9
A good assay result, or even better, some actual gold, should put a rocket under the SP. I suppose the Co would be obliged to inform the market as soon as they have some gold - they couldn't keep it as a surprise for the AGM, could they?

If any one is interested, I get the VWAP from https://stocknessmonster.com/trades/ntl.nzx/
My brokers, ASBSEC, only give the figure to the nearest 0.1c, not sure what other brokers or sources do.

P.S. This associated page https://stocknessmonster.com/quotes/ntl.nzx/ gives details of each trade. Why on earth would someone buy just 20 shares?? (Part of a bigger order, I think) But there were other trades today worth $2 and $5. Beats me!

[blackcap]

Just four business days till the AGM.
Did I read (or did I dream it??) that our board hoped to have some gold to show at the AGM?

The VWAP price today was only just short of 0.8, at 0.799c Sellers at 0.8 are thinning, only about half a mil shares there, but can't quite seem to get to 0.9
A good assay result, or even better, some actual gold, should put a rocket under the SP. I suppose the Co would be obliged to inform the market as soon as they have some gold - they couldn't keep it as a surprise for the AGM, could they?

If any one is interested, I get the VWAP from https://stocknessmonster.com/trades/ntl.nzx/
My brokers, ASBSEC, only give the figure to the nearest 0.1c, not sure what other brokers or sources do.

P.S. This associated page https://stocknessmonster.com/quotes/ntl.nzx/ gives details of each trade. Why on earth would someone buy just 20 shares?? (Part of a bigger order, I think) But there were other trades today worth $2 and $5. Beats me!

sharesies.com

[Ltw]

Just four business days till the AGM.
Did I read (or did I dream it??) that our board hoped to have some gold to show at the AGM?

The VWAP price today was only just short of 0.8, at 0.799c Sellers at 0.8 are thinning, only about half a mil shares there, but can't quite seem to get to 0.9
A good assay result, or even better, some actual gold, should put a rocket under the SP. I suppose the Co would be obliged to inform the market as soon as they have some gold - they couldn't keep it as a surprise for the AGM, could they?

If any one is interested, I get the VWAP from https://stocknessmonster.com/trades/ntl.nzx/
My brokers, ASBSEC, only give the figure to the nearest 0.1c, not sure what other brokers or sources do.

P.S. This associated page https://stocknessmonster.com/quotes/ntl.nzx/ gives details of each trade. Why on earth would someone buy just 20 shares?? (Part of a bigger order, I think) But there were other trades today worth $2 and $5. Beats me!

Yes board is planning to have Gold on show. I am wondering if they will save any announcements until the AGM. The shareses effect is a bit of a crazy thing at present. Buying and selling a couple of dollars worth although with a bit of positive movement I think it will gain momentum in the right direction. Both NZX and ASX are holding at .008

[Ltw]

bit of a jump in trade, Someone has cleared out the last of the .008 hopefully the good news comes throught this arvo. getting sick of waiting... :t_up:

[Ltw]

Someone's even dusted off NTLOB options!! 143K brought at .005

[Lion]

Finished the week at 0.9 which is good, but it looks a bit fragile, going by current depth.

Someone on 'that other chatsite in Aus' contacted the company this morning and reports this:

"Okay just talked to the company.Just waiting on one thing to come back. If they get it back soon they will release this morning.
If not Monday morning.


AGM Wednesday and they might have more stuff by then.
They sound upbeat and very positive. Which imo is to be expected.


Hold tight"

He goes on to say that he thinks there will be a gold bar at the AGM.

Hold tight, indeed!

[blackcap]

Hold tight"

He goes on to say that he thinks there will be a gold bar at the AGM.

Hold tight, indeed!

Crazy, that is already about $700,000 worth of gold. Going to be some happy holders if there is a gold bar at the AGM. Better make sure security is beefed up though.

Although if its only the kilo bar then we are looking at about $100,000 NZD. Not to be sneezed at but more manageable.

[cyclist]

Crazy, that is already about $700,000 worth of gold. Going to be some happy holders if there is a gold bar at the AGM. Better make sure security is beefed up though.

Although if its only the kilo bar then we are looking at about $100,000 NZD. Not to be sneezed at but more manageable.

That is a bold expectation. Maybe a 1 oz bar, but I very much doubt a 1 kg one. (1 kg or more would surely have needed a market update)

[Flugenbear]

That is a bold expectation. Maybe a 1 oz bar, but I very much doubt a 1 kg one. (1 kg or more would surely have needed a market update)

I'd go along with 1 oz :)
1 KG is a pipedream

[Timesurfer]

Not celebratory gold bar for each shareholder then?

[blackcap]

I'd go along with 1 oz :)
1 KG is a pipedream

But a 1 oz bar is only a quarter of a teaspoon in size. We will require a magnifying glass to even see it :)

[Aarrgghh]

And you get a gold bar! And you get a gold bar!
https://youtu.be/hcJAWKdawuM?t=60



Disc. I don't hold. No gold bar for me.

[cyclist]

But a 1 oz bar is only a quarter of a teaspoon in size. We will require a magnifying glass to even see it :)

Heh heh. Hopefully they will stretch it out to make it look more satisfying e.g. this 1 oz bar (https://online.kitco.com/buy/10092/1-oz-Gold-RCM-Bar-9999-10092) is 50mm x 29mm x 1.5 mm (rounded).

(Others might be interested. I was thinking 1/4 teaspoon can't be right, but it is actually very close. Density is 19.32 g/cm3 and 1 cm3 = 1 ml. So 1.6 ml versus a 5ml teaspoon. A crude calc of the volume of the bar above gives a slightly bigger number but I guess it isn't a uniform 1.5 mm thick)

[Landyman]

Could someone attending please treat the AGM as fancy dress - turn up in an all gold outfit please!!

Please no green and gold ;-)

[haewai]

Someone on 'that other chatsite in Aus' contacted the company this morning and reports this:

"Okay just talked to the company.Just waiting on one thing to come back. If they get it back soon they will release this morning.
If not Monday morning.

AGM Wednesday and they might have more stuff by then.
They sound upbeat and very positive. Which imo is to be expected.

Hold tight"

Credibility = Zero.

[Ltw]

Wonder if we will see some reports today? someone must be expecting something good .009's nearly cleared out

[youngatheart]

Surely this is a no-brainer, with any positive results tomorrow (no matter how small) its likely to send the SP upwards. The expectation is certainly high that this will be the case. Even a 1pt move upwards is a 16% gain...

[Ltw]

Surely this is a no-brainer, with any positive results tomorrow (no matter how small) its likely to send the SP upwards. The expectation is certainly high that this will be the case. Even a 1pt move upwards is a 16% gain...

I Think at the moment it’s just weeding out therubbish and those out to make a quick buck. They must be holdingonto any announcements for tomorrow hoping for a pat on the back rather than akick in the As$

[Brain]

All the best to all of the holders. I hope we get some positive news today.

[Ace]

It looks like some excitement ensued at the AGM today with the presence of Protect Karangahake. Video on their Facebook. Wonder which one of you here shouted “and are you a lesbian too?” Lol

[Joshuatree]

Pretty sexist and redneck sounding there Ace. lol

[Ltw]

Anyone got anymore info from AGM?

[whatsup]

Anyone got anymore info from AGM?

Have you read the chairmans heassup on the NTL site, very good up to date with new numbers, it will be very interesting to read the next report which should be the assay results from some of the pilot plant through put. The have as reported 500 tonnes of old stock piled ore to work through, once that is completed they have to work the numbers @ appro .25 gms per tonne (480 oz ) @ $2100 / oz , approx. $1,000,000 N Z , decide on what to order as a processing plant, apply for that permit, order and pay for( some of the $ 4 mil funding that we have as a result of the SPP) install then start processing, could take 2 years all up -- from today Im picking, with no hold ups, funds should last Im picking, if not another small SPP would be required but at that time the S P will be well over .12 IMHO !

[Paint it Black]

Anyone got anymore info from AGM?
Yes I was there. Not the usual start to an AGM with the protesters rudely interrupting the Chairman's report and another filming everyone in the audience for Facebook. If they were men they may have received a slightly more direct 'not welcome' message from the some of the shareholders. The front table presenters I thought politely handled it very well.

My penny's worth from the meeting is:

Still waiting on the assay results from the pilot plant concentrate - expected within the week. They were queried on why the delay and responded they cannot accurately predict how long the testing takes. Samples of the grey concentrate were available to look at after the meeting but I could not see any glistening yellow stuff in it.

The pilot plant has performed 'promisingly'.

The company is well cashed up with $4 million in bank.

The ventilation equipment is completed and running very well with imperceptible noise.

The Rahu permit exploration, with much of it in DoC land, has slowed due to DoC needing to abide with ongoing Treaty negotiations.

A decision on the expanded production plant strategy will be made quickly after the assay results are available - possibly within the month.

The expanded plant will also need a resource consent which is hoped will run smoothly based on the back of the pilot plant consent already in place.

NTL has established very good relationships with the local Iwi, Council and other stakeholders. A good level of trust is now in place with NTL doing what what they initially said they would do. The company's aim is to an excellent example of low impact mining.

Both Wayne Chowles and Murray Stevens gave interesting presentations on the future direction and options available.

The timing of full production processing is still difficult to predict - much depends on the assay results.

A further capital raising was not discounted in the more distant future. The proceeds from the pilot plant were not seen as providing a significant contribution to the cashflow.

One member of the audience suggested the next meeting was held close to the mine. He said there was a lot of local Coromandel support for the mine and having an AGM there would send a strong message to the minority protester group.

The question time was extended with a variety of questions being asked and responded to - with a mixture of caution and optimism. Back to the eagerly awaited assay results!

[Ltw]

Thank you guys

[Bluemanarc]

Yes I was there. Not the usual start to an AGM with the protesters rudely interrupting the Chairman's report and another filming everyone in the audience for Facebook. If they were men they may have received a slightly more direct 'not welcome' message from the some of the shareholders. The front table presenters I thought politely handled it very well.

My penny's worth from the meeting is:

Still waiting on the assay results from the pilot plant concentrate - expected within the week. They were queried on why the delay and responded they cannot accurately predict how long the testing takes. Samples of the grey concentrate were available to look at after the meeting but I could not see any glistening yellow stuff in it.

The pilot plant has performed 'promisingly'.

The company is well cashed up with $4 million in bank.

The ventilation equipment is completed and running very well with imperceptible noise.

The Rahu permit exploration, with much of it in DoC land, has slowed due to DoC needing to abide with ongoing Treaty negotiations.

A decision on the expanded production plant strategy will be made quickly after the assay results are available - possibly within the month.

The expanded plant will also need a resource consent which is hoped will run smoothly based on the back of the pilot plant consent already in place.

NTL has established very good relationships with the local Iwi, Council and other stakeholders. A good level of trust is now in place with NTL doing what what they initially said they would do. The company's aim is to an excellent example of low impact mining.

Both Wayne Chowles and Murray Stevens gave interesting presentations on the future direction and options available.

The timing of full production processing is still difficult to predict - much depends on the assay results.

A further capital raising was not discounted in the more distant future. The proceeds from the pilot plant were not seen as providing a significant contribution to the cashflow.

One member of the audience suggested the next meeting was held close to the mine. He said there was a lot of local Coromandel support for the mine and having an AGM there would send a strong message to the minority protester group.

The question time was extended with a variety of questions being asked and responded to - with a mixture of caution and optimism. Back to the eagerly awaited assay results!

Yep that's a good summary of what I saw too.
Matt had a broken rib and the protestor was a young girl who obviously hasn't got a job to do, like the rest of the dooby smoking sandal wearing PK hippies out front.
When Matt stole the minders cell phone and wouldn't give it back, that was quite funny.

You may be wrong on one point, but it wasn't clear, as they are lousy promoters you cant really hear properly who jumble there words and are not concise enough on shareholder concerns.

But it appeared to me that they said a resource consent for a full scale plant, would "NOT" be required, if they built it on the same site as the existing pilot plant.

We all got confirmation that the protestor is a lesbian, after one shareholder offered to bet her that she was one, and she confirmed.

Assay Results, take time, and Mat Hill obviously didn't realise how many they would be doing, and how long it would take.
It seemed to him to be a non issue that he promised them X time period, and they take longer.

The management seem very comfortable with the timeline and process for how they operate.
And obviously do not feel any need to advise shareholders if they don't meet estimated timelines.

The shareholder who is a local down there, said there was great support for the mine, and it was only that fringe minority of greenie nutters who were causing those disruptions.

Rahu is long into the future, there is no point wasting time or resources on it.
They have a job to do setting up the main processing plant.

One point, the "Concentrator" that keeps popping up in questions, where is it, what happened to it.
Well that is what the small plant is, and when the big fella comes in, that will be the big concentrator.
It makes concentrate, as per the jar they showed us today.

That is good, this means once plant is fully operational, its only concentrate being trucked out - correct ?

[Paint it Black]

Yep that's a good summary of what I saw too.
Matt had a broken rib and the protestor was a young girl who obviously hasn't got a job to do, like the rest of the dooby smoking sandal wearing PK hippies out front.
When Matt stole the minders cell phone and wouldn't give it back, that was quite funny.

You may be wrong on one point, but it wasn't clear, as they are lousy promoters you cant really hear properly who jumble there words and are not concise enough on shareholder concerns.

But it appeared to me that they said a resource consent for a full scale plant, would "NOT" be required, if they built it on the same site as the existing pilot plant.

We all got confirmation that the protestor is a lesbian, after one shareholder offered to bet her that she was one, and she confirmed.

Assay Results, take time, and Mat Hill obviously didn't realise how many they would be doing, and how long it would take.
It seemed to him to be a non issue that he promised them X time period, and they take longer.

The management seem very comfortable with the timeline and process for how they operate.
And obviously do not feel any need to advise shareholders if they don't meet estimated timelines.

The shareholder who is a local down there, said there was great support for the mine, and it was only that fringe minority of greenie nutters who were causing those disruptions.

Rahu is long into the future, there is no point wasting time or resources on it.
They have a job to do setting up the main processing plant.

One point, the "Concentrator" that keeps popping up in questions, where is it, what happened to it.
Well that is what the small plant is, and when the big fella comes in, that will be the big concentrator.
It makes concentrate, as per the jar they showed us today.

That is good, this means once plant is fully operational, its only concentrate being trucked out - correct ?

My take on the big plant is that a Resource Consent will be needed however possibly it can be 'non notified' on the back of the pilot plant already successfully operating within the conditions of the current consent and may quickly be consented. My understanding is the grey concentrate you saw is the end result of the pilot plant processing before smelting. They still need to truck the ore from the mine to the plant. The ore I understand will be preselected from the veins to minimise trucking costs.

[jonu]

I also attended the meeting. The two protestors were arrogant and smug. I think they thought themselves awfully clever. One was smiling away taking footage on her Smartphone. I don't suppose she considered where the precious metals within it came from.

I have a couple of interesting things to report on, but it has been a very long day, I will post some more feedback from the meeting and some interesting discussions I had afterwards when I get time

[chippy52]

I do hope this person sought the approval of those attending the meeting before posting photos on line !!:scared::scared:

[Jay]

I do hope this person sought the approval of those attending the meeting before posting photos on line !!:scared::scared:
If not should report them to the privacy commission!
Is an ASM considered a public place, would not have thought so.

I see signs up all the time now, about please do not take photos/videos at places like public swimming pools etc, - all around privacy - means you cannot take photos of your little Johnny/Jane learning to swim in case you include other children/people and you may publish it online somewhere

[iceman]

Obviously the Christchurch Call isn’t making much difference as it was supposed to stop terrorists filming and streaming their actions !!

[Ltw]

I also attended the meeting. The two protestors were arrogant and smug. I think they thought themselves awfully clever. One was smiling away taking footage on her Smartphone. I don't suppose she considered where the precious metals within it came from.

I have a couple of interesting things to report on, but it has been a very long day, I will post some more feedback from the meeting and some interesting discussions I had afterwards when I get time

Look forward to hearing your feedback jonu

[Paint it Black]

Obviously the Christchurch Call isnÂ’t making much difference as it was supposed to stop terrorists filming and streaming their actions !!

I agree but have to say it is unnerving having someone unexpectedly stand on a stage in front of you unfurl a red banner and begin chanting a doctrine. To add to that then see a young woman filming it with a strange smile on her face. Light years from Beslan obviously but have to say it was initially a surreal situation where things could have gone badly wrong. ....

[Landyman]

Thanks for the update all - in summary, patience my dear NTL holders.

[jonu]

Righto, I think most of the general commentary from the Meeting has been covered but a couple of things from my day....I asked Board member and geologist Murray Stevens whether one of the old drill samples showing over 1kg per tonne was likely just luck of hitting a sweet spot, or whether it was geologically possible for that sort of grade to continue along the vein. His answer was that it was entirely possible, and that he has always felt that vein mirrored one of the existing worked veins. He did say it was likely to fluctuate along its length.

Remember this is a vein that has never been worked, is extra to existing Resource, and is now reasonably easy to access by digging across.

I appreciate there is a lot of frustration over delays in the assay results but in the scheme of things a few days is immaterial. I remain extremely upbeat. I also had brief chats with Charbel Nader and Matt Hill around processing of ore and the various options. My impression is that NTL are in a very good position to pick what is going to suit them best, and will have several options available. Some would require less or no Capital and provide quick cashflow, or the longer more expensive route with higher returns.

I had another interesting discussion after the meeting with a chap in the foyer which I will post about seperately to clearly delineate it from anything to do with the Board or Company itself.

[Stumpynuts]

https://www.nzx.com/announcements/341267

It's good grading that they've announced, although I wonder if these results have been cherry-picked?

[whatsup]

+ + WOW, assay results out for the ore stockpile,

1st batch, gold 989 g/t = 38 oz/ tonne, silver 4120 g/t = 158 oz / tonne.

2nd batch, gold 876 g/t =33.69 oz/tonne, silver 2800g/tonne= 107.69 oz per tonne !!!

Are these assays correct , WHAT AM I MISSING ? !!

[steveb]

It's as clear as mud as usual,how much ore was processed to produce the 1.2kg of concentrate?And where did the 2kg of concentrate come from which is being assayed,as they have only produced 1.2kg so far!

But looking on the positive side at least there is some gold there.

[jonu]

It's as clear as mud as usual,how much ore was processed to produce the 1.2kg of concentrate?And where did the 2kg of concentrate come from which is being assayed,as they have only produced 1.2kg so far!

But looking on the positive side at least there is some gold there.

There's just no pleasing some people!

[steveb]

There's just no pleasing some people!
I still think they should get bluemanarc to write up these releases!
Still price is up to a cent so can't be bad

[jonu]

+ + WOW, assay results out for the ore stockpile,

1st batch, gold 989 g/t = 38 oz/ tonne, silver 4120 g/t = 158 oz / tonne.

2nd batch, gold 876 g/t =33.69 oz/tonne, silver 2800g/tonne= 107.69 oz per tonne !!!

Are these assays correct , WHAT AM I MISSING ? !!

Remember the concentrate is effectively a 4:1 ratio of the original ore. This shows that the pilot plant works in practice with extremely high recovery rates. They said at the AGM that the plant will need tweaking to get the balance of everything right. We should see a stream of assay results as they progress.

[whatsup]

It's as clear as mud as usual,how much ore was processed to produce the 1.2kg of concentrate?And where did the 2kg of concentrate come from which is being assayed,as they have only produced 1.2kg so far!

But looking on the positive side at least there is some gold there.

Steve, at the AGM they said that they were processing (sadly didn't say how much each time ) and sending the processed concentrate off for assaying regularly -- every couple of weeks Im picking , we have to wait for additional up dates, this is a great start much better that I was hoping for, looks great for the future.

[Ltw]

Finally what we have been waiting for.

Below is a post on HC i thought was a good read.

Please excuse any spelling and grammar mistakes, tapped my thoughts out at work over coffee


NTL are going through the appropriate process.
The pilot plant will do two things. Right now it will produce assays. The assays will be used for a DFS (which is near the end of a mines "startup process".
Secondly, throughout production the pilot plant will guide the company on which sections of the mine to process, keeping yields high.

Assays -> DFS (which is a very advanced stage in the mine proofing process).
DFS -> Bank -> Loan
Loan - > Full plant.

Every month this company looks more and more like a company I can assess relative to other mining companies. This company can now be valued with less uncertainty.

If any of you have read the PFS, you will see a loan was always necessary (and factored into the NPV of $16-$36mil per year) and they are now set up to take this company to production.
Happy to be a holder of a company with a clear production runway. If fact the main thing to take away from today, is how easy it is to forget NTL has jumped most of the red tape. All that remains now are usual business regulations.
NTL has mining infrastructure, testing equipment, assay proofing, and a strong case for a loan to tap into that NPV from the PFS.

If anyone would like a light run-over of the acronyms it helps put NTL in perspective. From a industry wide view point, NTL looks very good.
A bank will likely loan to a company with sound fundamentals in a politically stable country such as NZ (BTW for anyone concerned the bank will see environmental regulations being met, and not the hippies making a fuss at the AGM).


Pre-feasibility studies.
There are three common reasons for carrying out pre-feasibility studies as follows:As a basis for committing to a major exploration programme following a successful preliminary programme. It is possible for commitments of tens of millions of dollars or more to be made for ongoing exploration and development on the basis of a pre-feasibility study, prior to decision to mine.

For example, where ore reserves cannot be proven by surface drilling, underground development may be required for exploration at an early stage of the project.To attract a buyer to the project or to attract a joint venture partner or as a basis for a major underwriting to raise the required risk capital. A pre-feasibility study may also be prepared in full or in part by potential purchasers as part of the due diligence process.To provide a justification for proceeding to a final feasibility study.

The results of a pre-feasibility study may be the first hard project information that is seen by corporate decision makers. There is a risk that the findings are committed to memory and announced publicly so that it becomes difficult to dislodge them with subsequent information. In such cases, the pre-feasibility study is the real decision point, with the subsequent feasibility study being seen by management as a necessary step along the path that has already been irrevocably committed.

For these reasons the pre-feasibility study must be prepared with great care by experienced people, and its conclusions heavily qualified wherever necessary. Assumptions should be realistic rather than optimistic because it is very difficult to bring management and markets back to reality in the event that the final feasibility study is significantly less favourable. The main features of the pre-feasibility study are:Mine design based on a resource model.Best alternative selected from a range of alternatives.Preliminary studies completed on geotechnical, environmental, and infrastructure requirements.Bench scale metallurgical tests and preliminary process design completed.Cost estimates based on factored or comparative prices.Usually result in an Ore Reserve estimate
Study accuracy 20% to 25%.Ready to proceed to final feasibility study.

Final (definitive) feasibility studies

The final feasibility study is usually based on the most attractive alternative for the project as previously determined.
The aim of the study is to remove all significant uncertainties and to present the relevant information with back up material in a concise and accessible way. The final feasibility study has three objectives:To provide a basis for detailed design and construction.To demonstrate within a reasonable confidence that the project can be constructed and operated in a technically sound and economically viable manner.

To enable the raising of finance for the project from banks or other sources.

The term Bankable is sometimes used in connection with final feasibility studies. This just means that the study achieves a quality and standard that would be acceptable for submission to bankers. Whether a particular bank will actually lend against the project is another question, depending on many matters that are outside the control of the feasibility study team.

[jonu]

As per my post last night, after the AGM I was approached by a chap in the foyer who had attended the meeting and whose interest was sparked by some of my questions. I won't name him or who he represents but suffice to say that it involves significant European interests. He was extremely down beat about the World's financial markets and was of the opinion that 2020 will see another contagion starting in Europe with some of their leading banks.

The upshot of that is they are looking to exposure to both physical gold and miners in stable jurisdictions. In particular, our little gem is on their radar. Where that goes will be interesting in itself, but they won't be the only ones. Scary times globally but perhaps fortuitous for NTL.

[whatsup]

The N Z market will be very interesting once the Au market opens.

[Bluemanarc]

I still think they should get bluemanarc to write up these releases!
Still price is up to a cent so can't be bad

Why thank you Steve, is it my miraculous ability to state the bleeding obvious, or my witty repartee to cut to the chase and make meaning from the general BS clear as mud company communiqué's ??

Or my Dad Jokes maybe, I could tell you the Irish Woodcutter joke if you wish ?

[jonu]

The N Z market will be very interesting once the Au market opens.

Yes, the ASX is loading up nicely

[steveb]

As per my post last night, after the AGM I was approached by a chap in the foyer who had attended the meeting and whose interest was sparked by some of my questions. I won't name him or who he represents but suffice to say that it involves significant European interests. He was extremely down beat about the World's financial markets and was of the opinion that 2020 will see another contagion starting in Europe with some of their leading banks.

The upshot of that is they are looking to exposure to both physical gold and miners in stable jurisdictions. In particular, our little gem is on their radar. Where that goes will be interesting in itself, but they won't be the only ones. Scary times globally but perhaps fortuitous for NTL.
Interesting indeed,so where do we see the SP going from here,if you look at the options it would suggest that the company see's the SP at above 5c a share within 3 years,So lets say that values the company at over $200m.This figure is peanuts for some companies,and you have to ask yourself would I sell at these prices,I know I wouldn't.So what sort of offer would be good enough for shareholders to sell?
Interesting indeed.

[cyclist]

+ + WOW, assay results out for the ore stockpile,

1st batch, gold 989 g/t = 38 oz/ tonne, silver 4120 g/t = 158 oz / tonne.

2nd batch, gold 876 g/t =33.69 oz/tonne, silver 2800g/tonne= 107.69 oz per tonne !!!

Are these assays correct , WHAT AM I MISSING ? !!

I think you are missing that this is concentrate. Tells us nothing about the gold content of the input material, just that the process is managing to weed out and concentrate some of the gold as hoped. Jonu has stated 4:1, but surely it must be many times to 1 (input weight to output weight) to get those sorts of results?

[jonu]

Oh dear. Looks like the Aussies have got the scent (cent). Typical. Give them a sniff and they are after it like a rabid pack of Dingoes.

[Ltw]

if it is a 4:1 ratio it would be amazing but think you are right Cyclist.
@ 989g/t Even if they had to process
30 ton of ore to get 1 ton of concentrate that still gives them 33g/t of gold from the ore 137g/t of silver

40 ton of ore to get 1 ton of concentrate that still gives them 24g/t of gold from the ore 103g/t of silver

50 ton of ore to get 1 ton of concentrate that still gives them 19g/t of gold from the ore 82g/t of silver


60 ton of ore to get 1 ton of concentrate that still gives them 16g/t of gold from the ore 68g/t of silver

Pretty good numbers realy but until we get some more details we are only guessing

[jonu]

if it is a 4:1 ratio it would be amazing but think you are right Cyclist.
@ 989g/t Even if they had to process
30 ton of ore to get 1 ton of concentrate that still gives them 33g/t of gold from the ore 137g/t of silver

40 ton of ore to get 1 ton of concentrate that still gives them 24g/t of gold from the ore 103g/t of silver

50 ton of ore to get 1 ton of concentrate that still gives them 19g/t of gold from the ore 82g/t of silver


60 ton of ore to get 1 ton of concentrate that still gives them 16g/t of gold from the ore 68g/t of silver

Pretty good numbers realy but until we get some more details we are only guessing




We were told at the AGM that the concentrator worked on a 4:1 ratio. 4 tonne of ore input would be reduced to 1 tonne concentrate. This means big reductions in tolling and freight costs. Also the 3 tonne byproduct has a commercial value. Multiple win/win.

[Ltw]

Thanks for clearing that up Jonu. Did they mention what the daily through put of the plant is?

[Bluemanarc]

I think you are missing that this is concentrate. Tells us nothing about the gold content of the input material, just that the process is managing to weed out and concentrate some of the gold as hoped. Jonu has stated 4:1, but surely it must be many times to 1 (input weight to output weight) to get those sorts of results?

The question was asked several times, in many ways, and the answer kept coming back 4 to 1, and this from the face of the vein.

[Bluemanarc]

Thanks for clearing that up Jonu. Did they mention what the daily through put of the plant is?

They stressed that the pilot plant (concentrator) is specifically to produce all these assay results and to use these to design and set up the main processing plant.
Which is when we will start to see the real action.
They could not give us a timeline and plan for that, which I thought was a bit slack, but kept re-iterating that the makeup and design of this plant would depend on all these results and they were obviously spending a lot of time trialling the size of rocks and inputs / outputs to make sure this is the right decision.
Cost for the new plant did not seem an issue, when someone asked if its going to be 3m or something, they all laughed, but then failed to say what they thought it would cost, they would not estimate.
They say they have enough funds to get to full production.

Very interesting points people have mentioned, about the selling power of everything that comes through this plant, so zero waste, and no increase in footprint on the surface.
So greenies if they bothered to investigate, should be happy.

[Landyman]

Was there any talk of exec rem? Given thats a large chunk of where $$$ has gone in the past?

[Ltw]

They stressed that the pilot plant (concentrator) is specifically to produce all these assay results and to use these to design and set up the main processing plant.
Which is when we will start to see the real action.
They could not give us a timeline and plan for that, which I thought was a bit slack, but kept re-iterating that the makeup and design of this plant would depend on all these results and they were obviously spending a lot of time trialling the size of rocks and inputs / outputs to make sure this is the right decision.
Cost for the new plant did not seem an issue, when someone asked if its going to be 3m or something, they all laughed, but then failed to say what they thought it would cost, they would not estimate.
They say they have enough funds to get to full production.

Very interesting points people have mentioned, about the selling power of everything that comes through this plant, so zero waste, and no increase in footprint on the surface.
So greenies if they bothered to investigate, should be happy.

That makes alot more sence
Bluemanarc; Maybe I'm a bit slow :sleep:

So as an aveage from the two batches sent away, it is:

4 ton of ore to get 1 ton of concentrate that gives them 233g/t of gold from the ore 865g/t of silver a hell of a lot
Noted that it is likely that they have not put 4 ton through the pilot plant.
From what I gather via comments on here after the AGM the pilot plant is very much in test mode only doing very small batches i.e. just under 5kg of ore would produce the 1.2kg of concentrate they had on show.
8kg would produce the "2kg batch of centrifuge concentrate is being assayed and prepared for dispatch to a Major New Zealand based concentrate end user for testwork to form the basis of a commercial off take agreement"

Even with cheery picking the Ore that is extreamly Hi recovery rate IMO.

I think i now understand the importance of the polit plant and why it will never see mass throughput through it. bring on the full production plant I say. By the time they get it they will have all the key areas assessed and know exactly where and what ore to process.
Hopfully they get to that stage without been brought out as I see the upside of this being huge.

[Ltw]

Gold is back on the rise to over $2,400 heading towards $2,500.

[jonu]

We can't be far away from further assay results and other activity progress. And POG still hovering around $1500usd

[whatsup]

Why is it taking so long to have additional assay results released and when they are I do hope that there is more detail released to give a fair idea as to the gms per tonne from the very small sample?

[haewai]

Yes, so much news needed:
- more assay results, as first concentrate was sent away ten weeks ago
- more info on progress with discussions with the "... Major New Zealand based concentrate end user for testwork to form the basis of a commercial off take agreement"
- plans for pilot plant scaling up
- conclusion of assessments of enquiries regarding alternative potential treatment options, which has been hanging at the end of quarterly repoots for a long time
- agreements with Terrafirma on commercial plant term sheet "An update will be provided to shareholders by the Board shortly) <- that was three months ago.

[Brain]

The Quarterly activities report is due out the end of this month

[emveha]

Where is the gold? Show us the gold! The GOLD! :eek2:

[Brain]

https://www.rnz.co.nz/news/national/400549/oceanagold-gets-approval-to-buy-land-to-expand-gold-mine


Maybe the Political risk for NTL is overstated. The above link certainly shows some common sense being displayed by the Coalition. NTL by comparison to Waihi is about as green as you can get.

In my view this is very significant.

[jonu]

https://www.rnz.co.nz/news/national/400549/oceanagold-gets-approval-to-buy-land-to-expand-gold-mine


Maybe the Political risk for NTL is overstated. The above link certainly shows some common sense being displayed by the Coalition. NTL by comparison to Waihi is about as green as you can get.

In my view this is very significant.

Agreed Brain. The Greens have been sidelined, despite Ardern's denials.

[whatsup]

When are we getting more results from the " mine " ?

[cyclist]

Christmas ...... 2023

(Holding, but learning newfound cynicism)

[Ltw]

It's pretty poor to not have any new announcments.
I understand there is a cost to them and the focus is likely on the
Quarterly activities report due later this month but come on!!

[dubya]

It's pretty poor to not have any new announcments.
I understand there is a cost to them and the focus is likely on the
Quarterly activities report due later this month but come on!!

Also pretty poor to see that neither Mr Hill or any of the directors bought anything in the SPP or shortfall, as I haven't seen an SPH. Unless I missed it / them??!!

[steveb]

They can't have any news yet,as they would have had to release it, good or bad,you can't sit on it nowadays.The NZX has a continuous disclosure rule:-
https://nzx-prod-c84t3un4.s3.ap-southeast-2.amazonaws.com/KfKR4Q4JzmP2DkBchHLCpzQE?response-content-disposition=inline%3B%20filename%3D%22Guidance%20N ote%20-%20Continuous%20Disclosure%20-%201%20January%202019.pdf%22%3B%20filename%2A%3DUT F-8%27%27Guidance%2520Note%2520-%2520Continuous%2520Disclosure%2520-%25201%2520January%25202019.pdf&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAJABUQTI7JQTRAXGA%2F20191017%2Fap-southeast-2%2Fs3%2Faws4_request&X-Amz-Date=20191017T224053Z&X-Amz-Expires=300&X-Amz-SignedHeaders=host&X-Amz-Signature=453618c0a101990ef8e99661351505238acf65b9 255e122fab697794e3d9b343

[swissboy]

3 working days in which to update the shareholders. Lets hope.

[haewai]

3 working days in which to update the shareholders. Lets hope.

Wonder if its going to be another "within the last hour possible on the last day possible" special again

I'm looking for progress on all the points on the last page of the previous quarterly:
- Completing pilot plant test work - expected to have finished by end of September - and with full assay results and identification of scaling needs of plant
- started processing high grade ore for revenue
- completion of design for first decline into Dubbo, and start of work
- significant progress on negotiations with Terra Firma and other parties for treatment options and take-off agreements
- lodging of resource consent application for full mining

[steveb]

Wonder if its going to be another "within the last hour possible on the last day possible" special again

I'm looking for progress on all the points on the last page of the previous quarterly:
- Completing pilot plant test work - expected to have finished by end of September - and with full assay results and identification of scaling needs of plant
- started processing high grade ore for revenue
- completion of design for first decline into Dubbo, and start of work
- significant progress on negotiations with Terra Firma and other parties for treatment options and take-off agreements
- lodging of resource consent application for full mining
Very nicely put haewai,they might update the pilot plant works,but that's probably all you will get.I would copy and paste your very good and valid points into an email and send it off to the company,then at least you can have a moan when we don't get the info everyone has been waiting for.

[whatsup]

Wonder if its going to be another "within the last hour possible on the last day possible" special again

I'm looking for progress on all the points on the last page of the previous quarterly:
- Completing pilot plant test work - expected to have finished by end of September - and with full assay results and identification of scaling needs of plant
- started processing high grade ore for revenue
- completion of design for first decline into Dubbo, and start of work
- significant progress on negotiations with Terra Firma and other parties for treatment options and take-off agreements
- lodging of resource consent application for full mining

Very disappointing not to have the quarterly released before the market opened today,

WHY ARE WE WAITING !!!

[Brain]

Very disappointing not to have the quarterly released before the market opened today,

WHY ARE WE WAITING !!!

last report wasnt released until 4.19 pm on the last day of the month

[youngatheart]

Omg. So after all this time with high hopes and promises they've got 1.8kg of concentrate. Not Gold only concentrate....

[blackcap]

Omg. So after all this time with high hopes and promises they've got 1.8kg of concentrate. Not Gold only concentrate....

At least the cash burn is decreasing. Only went through about $500k last quarter.

[Landyman]

Young, have you got a link you can share? Actually, got it

https://www.nzx.com/announcements/343566

[Baa_Baa]

Omg. So after all this time with high hopes and promises they've got 1.8kg of concentrate. Not Gold only concentrate....

That's 50% more concentrate than announced 20/9/2019. Today's announce adds very little to what we already knew. The cashflow report is more telling, they'll need real gold soon or it'll be cap raise time again. No wonder the SP isn't moving.

[haewai]

I wonder, deeply, what the offer of "operating the mine on NTLs behalf" means. Is it possible that one firm runs the mine, another the processing, and NTL does... what?

Or is the statement yet another of the offers of interest that appear and are never resolved in the quarterlies

[Rosco]

That's 50% more concentrate than announced 20/9/2019. Today's announce adds very little to what we already knew. The cashflow report is more telling, they'll need real gold soon or it'll be cap raise time again. No wonder the SP isn't moving.

Yeah, more dark clouds on the horizon. Looking at the depth charts, it looks like the SP will indeed move, except not up but down. Plenty of sellers, very few buyers.

[dubya]

Yeah, more dark clouds on the horizon. Looking at the depth charts, it looks like the SP will indeed move, except not up but down. Plenty of sellers, very few buyers.

Yeah I agree. Sad but that's the way it is with this company. Neither the CEO or directors bought any shares in the SPP or shortfall, but continue to draw their fat cat salaries courtesy of the people who did participate in the SPP.
GLTAH but a bit of slurry is hardly enough to pump the share price, nor more assay reports (jeez how many have their been now?), and the destruction of wealth from the 3 cent share price from about 18 months ago to where if is today IMHO can be laid squarely on the aforementioned 'fat cats'. Meanwhile the cashburn continues......until it's tiime for the next SPP!!!

[Yoda]

I sold half today, but overall have made $30k so not too upset, but have been hoping for another ramp up to sell into, but that doesn’t seem to be happening , so going to put more into something else. I had some for sale at .009 for a month , but the volume was to light to hit it, so it fell off. I first bought at .006 and sold around mid .025 as it fell, and in and out on the way down . Im not as young as i used to be ..60 this month :t_up: so not hanging around
GLTASH . I hope it works out for all you guys that have been in it for the last few years . I love the walks in those mountains, and hope it gets going some day . I ll be watching ......

[Landyman]

NTL/HGD are historically about "discovery" of gold, not about actually mining it - its seems a simple transition but obvisouly not. Ive been riding this wave for 10 years, and have had some ups and downs with trades. The one consistent is that cash outflows have alwasy exceeded inflows, therefore SPP. I particvipated in teh 2c capital raise a couple of years back, as I thought they were on the cusp of change - another 2 years down the track, and same old.
Im like you Yoda, watching and waiting. WIll dip my toe in when things become a little more tangible.

[youngatheart]

With no expected news for the next few weeks, I predict 0.006c by end of next week...

[haewai]

I'm staying optimistic although they still seem a long way from selling gold
- perhaps the plant will be financed via the bankable study
- perhaps all this talk of operating this, that, and the other is one step away from selling everything
- perhaps there is an enormous vein of gold in dubbo
- perhaps the resource consent will be lodged in the next week and fly through
- perhaps in the meantime ore could be toll-processed down the road to maintain a decent cash balance

Two announcements are due this month: the pilot plant up-scaling and the resource consent lodging. These will be significant milestones.

[steveb]

I have said it before it's time for Matt Hill to move on,he's done his job,NTL now need a strong management to lead the company into production.and sales.Matt can keep his 400K a year,but put him in charge of research/prospecting,after all the gold at waihi will not last forever.

[Yoda]

NTL/HGD are historically about "discovery" of gold, not about actually mining it - its seems a simple transition but obvisouly not. Ive been riding this wave for 10 years, and have had some ups and downs with trades. The one consistent is that cash outflows have alwasy exceeded inflows, therefore SPP. I particvipated in teh 2c capital raise a couple of years back, as I thought they were on the cusp of change - another 2 years down the track, and same old.
Im like you Yoda, watching and waiting. WIll dip my toe in when things become a little more tangible.
In the 1900,s they mined alot of gold , everyone knows the gold is there. For me it was about getting it out, and that is just not happening nor will it, while people get paid for very little progress. I can discover a beautiful lady, but if she doesnt come to the party, its a waist of time. Any thing is only worth having if you can actually get it out of the ground. Oil , coal, gold , who cares .... its like having a canvas and paint, but no artwork to sell.

[Brain]

I'm staying optimistic although they still seem a long way from selling gold
- perhaps the plant will be financed via the bankable study
- perhaps all this talk of operating this, that, and the other is one step away from selling everything
- perhaps there is an enormous vein of gold in dubbo
- perhaps the resource consent will be lodged in the next week and fly through
- perhaps in the meantime ore could be toll-processed down the road to maintain a decent cash balance

Two announcements are due this month: the pilot plant up-scaling and the resource consent lodging. These will be significant milestones.

I remain optimistic too. But having said that I sold all the shares I purchased in the SPP this morning @ 7c. At least I made $200 I had to reduce my exposure to NTL.

Possibly Terra Firma may come up with some cash to finance the plant. I would expect them to be offering more than their premises and labour for it to be attractive to NTL.

The Mystery vein is the key point of interest to me. If it is as extensive as the Maria Vein then it could be a game changer. Rahu is very long term.

Plenty of time for the full mining consent because they have not initiated the bulk sampling phase and that will only happen after the plant or some other processing arrangement is in place.

The development of this mine is a mind boggling slow process

2 years of bulk sampling at 360 oz gold equivalent per month would certainly generate some cash flow. The question is when is it going to happen.

Well enough of that I am off to watch some paint dry.

[Chippie]

[QUOTE=haewai;776711]I'm staying optimistic although they still seem a long way from selling gold
-

[Chippie]

I'm staying optimistic although they still seem a long way from selling gold
- perhaps the plant will be financed via the bankable study
- perhaps all this talk of operating this, that, and the other is one step away from selling everything
- perhaps there is an enormous vein of gold in dubbo
- perhaps the resource consent will be lodged in the next week and fly through
- perhaps in the meantime ore could be toll-processed down the road to maintain a decent cash balance

Two announcements are due this month: the pilot plant up-scaling and the resource consent lodging. These will be significant milestones.

At the AGM a couple of years ago they did say that they need the bankable study to be able to access bank finance. So, assume this must be the long-term plan.

The have 500 tonnes of Ore ready to be processed, so the "toll processed" option would be an easy option to generate cash flow.

I am very disappointed in how slow things are moving, but still believe we more chance of a significant increase (100% +) in the share price than decreasing by say 30%.

[Ltw]

At the AGM a couple of years ago they did say that they need the bankable study to be able to access bank finance. So, assume this must be the long-term plan.

The have 500 tonnes of Ore ready to be processed, so the "toll processed" option would be an easy option to generate cash flow.

I am very disappointed in how slow things are moving, but still believe we more chance of a significant increase (100% +) in the share price than decreasing by say 30%.

Toll processed makes sence at this stage. It would be very easy to send it 15min down the road to have OGC process it. I would say at the moment they will need to take care around the consents they have and what it allows them to do.

[Bluemanarc]

Looks like SP is crashing....

[jonu]

Looks like SP is crashing....

Someone unloaded 5 million shares around opening. Was it you? After your ill informed rant on HC that would be my guess.

[blackcap]

Someone unloaded 5 million shares around opening. Was it you? After your ill informed rant on HC that would be my guess.

That "rant" on hotcopper was spot on as far as I can ascertain.

[jonu]

That "rant" on hotcopper was spot on as far as I can ascertain.

Then you clearly have ignored the offers they have on the table.

[jonu]

Any old who, one persons dump is another's treasure. I was able to pick up another million shares at near spp price this morning. I do find it strange that people are bottling it at the very time that other miners are making overtures.

[Ltw]

Any old who, one persons dump is another's treasure. I was able to pick up another million shares at near spp price this morning. I do find it strange that people are bottling it at the very time that other miners are making overtures.

Totally Agreed

[jonu]

Awfully close to the middle of November. Should be an announcement imminent going by the Quarterly info.

[youngatheart]

Let's get real. It's slow down for the Christmas holidays next month so I doubt there'll be anything happening until the new year...

[swissboy]

Maybe so but $90 K so far today on ASX?NZX somebody knows something

[haewai]

This line from the last quarterly annoyed me: Following completion of the capital raising which was offered to investors at 0.65 cents ($.0065) withshares trading at 0.009 currently shareholders who participated have been well rewarded.

Shareholders want a lot more from the company and directors than a small blip in share prices. Time to deliver.

[youngatheart]

Ugh. But the NZX SP has it GOING DOWN so if they do, it ain't good news...

[Landyman]

Maybe so but $90 K so far today on ASX?NZX somebody knows something

Wonder if Mr Hill is selling down.

[steveb]

You have to ask yourself at what price would I buy some shares? .007 to .008 seems about right at the mo.I don't think you can read anything into recent trading.If it goes below .007 which means it would be below the capital raise,then you have to ask your questions,but the current levels don't seem to suggest anything.

[blackcap]

You have to ask yourself at what price would I buy some shares? .007 to .008 seems about right at the mo.I don't think you can read anything into recent trading.If it goes below .007 which means it would be below the capital raise,then you have to ask your questions,but the current levels don't seem to suggest anything.

The thing is the aussie issue price in the SPP was .06. In Australia the offer is currently .06. So I am starting to ask some questions.

[steveb]

The thing is the aussie issue price in the SPP was .06. In Australia the offer is currently .06. So I am starting to ask some questions.
the SPP was .0065 in Aus that's in A$.There are not many available for .006,but you are right it's never nice to see a share price go down especially if a company is doing well,they just don't seem to be able to communicate with their shareholders.

[jonu]

The thing is the aussie issue price in the SPP was .06. In Australia the offer is currently .06. So I am starting to ask some questions.

Quite possibly some arbitrage trading going on. Approx 15% return

[Bluemanarc]

Someone unloaded 5 million shares around opening. Was it you? After your ill informed rant on HC that would be my guess.

You wont like my last HC post then.
Yep that was me.
I have changed my stance on the mine purely as I have now lost complete faith in management.
The penny has finally dropped that they have been continually lying to us, and I think in a potentially illegal manner.

If this company fails and someone buys them out, then I will invest back in this mine through that vehicle.
Or if Mat Hill goes, then I will buy back in.

I must admit I was taken in by their lies, and had gold fever and couldn't see the obvious until it was staring me in the face.

[jonu]

You wont like my last HC post then.
Yep that was me.
I have changed my stance on the mine purely as I have now lost complete faith in management.
The penny has finally dropped that they have been continually lying to us, and I think in a potentially illegal manner.

If this company fails and someone buys them out, then I will invest back in this mine through that vehicle.
Or if Mat Hill goes, then I will buy back in.

I must admit I was taken in by their lies, and had gold fever and couldn't see the obvious until it was staring me in the face.

Had a read of it. You're right, I don't think much of it. I understand the frustration around slow progress, but the bankruptcy talk is nonsense. You should have had the cojones to ask hard questions at the ASM. They did answer many of the issues you raised in your HC post, perhaps you weren't listening and have unnecessarily burnt yourself exiting. Trashing it to burn others as well after your exit; that appears to be spite.

[steveb]

perhaps they should produce a detailed business plan,as management seem to lurch from one goal to the next year after year.The board are not really class business people but miners,and yes they have done a good job,but they have also taken too long to do that job.With a detailed plan at least they can apply for consents in a timely manner,plan for staffing,expansion,exploration cash flow etc.

[Ace]

perhaps they should produce a detailed business plan,as management seem to lurch from one goal to the next year after year.The board are not really class business people but miners,and yes they have done a good job,but they have also taken too long to do that job.With a detailed plan at least they can apply for consents in a timely manner,plan for staffing,expansion,exploration cash flow etc.

Are they miners though? They seem well educated and have business backgrounds and that’s not to say miners aren’t well educated. Even if they were “just” miners, that’s not an excuse for failing to meet self imposed deadline after deadline, delay or misrepresent i.e two capital raises ago we were “fully funded” for the bulk sampling programme. If anything they should exceed expectations for having that experience. We still have barely started. Call it for what it is, this management team is weak (especially for the price they are demanding) and have poor shareholder relations. Someone said Matt doesn’t think it’s important to meet deadlines. This speaks volumes about their management style. They won’t bat an eye to make forward looking statements and fail to adhere to it, if they can’t even do that then what else are they failing to do? Look how fast their communication is when it’s time to shake the money tree and raise capital.

[haewai]

I went back a year to test the "doesn't meet deadlines' opinion. This is from the 30 Sept 2018 quarterly:

During the quarter the company continued discussions with a number of parties that have approachedthe company for treatment and offtake of the high-grade ore as well as parties interested in acquiringthe concentrate product produced from the plant. With blasting and extraction having commencedand the pilot plant being installed tuned and subsequently being commissioned, once the recoveryrates are confirmed the company will be better positioned to take these discussions to a commercialconclusion. It is expected by the end of Q1 2019 we will have sufficient data from the pilot plant to determine the maximum volumes of concentrate and bullion produced which can be produceddirectly from the pilot plant and the recovery rates achieved.

I think there was a small delay (couple of months) getting the pilot plant operational due to resource consenting issues, but aside from that, they seem to be on track. Am looking forward to a series of announcements on conclusions of commercial discussions, including the upgrade of the plant, expected any day.

It was definitely delusional of the previous poster to think the pilot plant would produce the revenue s/he suggested/hyped for. The capital raising was very clear that it would enable some cash revenue, but the true purpose was as a test facility.

[suse]

I went back and had a read of posts from when I bought in "on a punt" a couple of years ago. I think Bluemanarc probably bought in at around the same time. I share his frustration, but I was only ever speculating on this so am happy (no wrong word, resigned ) to hold and hope the price improves so I can offload and remind myself not to take punts. No point offloading now as I think i'm about 75% down, or more.... I cant bear to look! :) Thankfully not huge money tied up but I'd sure as hell like to get it back.

I will say that Jonu is as optimistic now as he was back then so I hope one day this ship does sail as clearly you'll make a fortune!

[Landyman]

Maybe NTL should make the SPP claimable as a tax deductible donation. Ha. Ive been at this lot for more than 10years, and "a punt" is a very good description.
Good news just around the corner though :eek2:

[haewai]

Awfully close to the middle of November. Should be an announcement imminent going by the Quarterly info.

Hmm, deadlines huh

[Jay]

Got some very small $$ in this as well, just a punt as well, though if it really takes off, will wish I had 10 X as many!

[haewai]

Half year accounts out.
Reduced director fees noted, as is increase in assets under construction.
Now waiting for the accompanying report.

[Landyman]

But not on the NTL website yet - well, that I could see

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/345289/313187.pdf

[haewai]

During the current quarter the company advanced discussions with Terra Firma MiningLimited who have put forward a formal term sheet for the development of a commercial scalegold plant. The initial Term Sheet set out the terms upon which Terra Firma would seekresource consent for and construct and operate a gold plant. With the completion of phase 1testwork the parties now have sufficient data to set out the finer design details andcommercial terms with Terra Firma can be finalised which is likely to be in a form capable ofexecution by mid-November.

Dear directors: an explanation of why this date has been completely missed would be appreciated

[BigBob]

Dear directors: an explanation of why this date has been completely missed would be appreciated

Dear haewai,

We always promise to do things and to provide updates to the market with short, sharp, self-imposed deadlines. But we never actually do that.

We didn't expect you to think that this time would be any different.

Sincerely
Your Directors

[Landyman]

I think Santa will be skipping the Directors houses this year

[Brain]

Dear directors: an explanation of why this date has been completely missed would be appreciated

Dear haewai,
You should understand by now that we only communicate with shareholders ahead of a capital raising and even then it’s not great and has at least one error and will be followed by an amendment. You shareholders have to understand you are nothing short of a bloody nuisance.

yours sincerely

the directors

[youngatheart]

I doubt you'll hear anything from these guys until well into the new year... as they'll probably be winding down operations until after the summer holidays.

[swissboy]

If only I knew how to spell " facetious"

[cyclist]

If only I knew how to spell " facetious"

If only I knew what it meant!

(Actually, quite appropriate, but the facetious commentary is accompanied by a healthy dose of "pissed off" in many cases too I suspect).

[Chippie]

Dear directors: an explanation of why this date has been completely missed would be appreciated

Seriously, has anyone actual sent their questions to the company?
By chance I did send a few related questions yesterday. I got a response from Matt Hill who has offered to call me re my questions and concerns. Which is pretty good.
All i wanted was for them to cover these as part of the next quarterly report that i guess comes out in December (based on last year)

[Chippie]

He offered to call me next week. Will let you know what he tells me

[youngatheart]

Half Yearly Report expected next week. I'll be matching it word for word with last year's one to see exactly how much has happened in a year... Or how very little....

[haewai]

Half year is to end Sept right? Taken two and half months to get it out. And possibly only the same info as in the last quarterly. Next quarterly not due until end Jan.

[youngatheart]

It's this Report I'm referring to. For eg. This is last year's one released on 14th December 2018....
https://www.nzx.com/announcements/328381

[youngatheart]

So it's not just the financials but includes an explanation of their activities...

[steveb]

If I was being paid $400K a year without having a business plan to work to or a board to answer to I would not be in a great hurry to get anything done.
I might cash in soon,and possibly buy back in when they get the plan up and running,and actually have an income

[Landyman]

He offered to call me next week. Will let you know what he tells me

Im torn - the logical part of me says that his comments will be "I can't tell you anything, without telling the stock exchange", the other part of me says "I hope he tells you whats really happening, and that its awesome" breaking every disclosure rule under the sun.
Heres hoping the call happens late at the NTL Xmas party!!!!

[Chippie]

I hope to hear that there will be clarification in the next market update. I am sure he will not provide any insider info

[Brain]

The next market update will be the half yearly report which should be before Christmas as it was last year.

The big problem with these guys is that they say they are going to make an announcement and never follow through with it. This sort of behaviour leads to a lot of disgruntled shareholders. The board of directors are supposed to be representing the shareholders. I haven’t seen much evidence of that. Certainly shareholder relations has not been given much thought.

the top 22 shareholders own about 36% of the shares and only a few % seem to be directly controlled by people associated with the company. My guess is the top 100 share holders would control well over 50% of the company.We do Not know for sure because the holding range tabulated in the annual report is very unhelpful. NTL were asked at a meeting once to change this to make it more meaningful but they refused.


As a shareholder I hope the half year announcement is a good one.

[ziggy415]

Drove through waihi this morning got behind very flash late module Mercedes...number plate " h4hill"...couldn't help wondering

[Landyman]

Drove through waihi this morning got behind very flash late module Mercedes...number plate " h4hill"...couldn't help wondering

AU Hill would have been more appropriate - or not!!!

[Ltw]

At least the price of gold is back on the rise.

[Bluemanarc]

Sharemarket report came out just now without any of the normal warning that I usually get.

I do not like the way they make the statements with "?" marks instead of "*" stars or bullet points, who does that ?

[youngatheart]

Ugh. I hate this stock.

[youngatheart]

My take from reading this report is that there'll be no gold mined for the foreseeable future. Glad I now made the correct decision and exited this stock last week.

[haewai]

My take from reading this report is that there'll be no gold mined for the foreseeable future. Glad I now made the correct decision and exited this stock last week.

As I said in #4690, the half year report simply repeats the content of the first two quarterlies, which are already published. There's not much new in the half year report as a result. I noticed confirmation that terra firma is the party interested in contract mining, which I think wasn't mentioned before. And some firmer timings around the resource consent for full mining and processing.

[jonu]

As I said in #4690, the half year report simply repeats the content of the first two quarterlies, which are already published. There's not much new in the half year report as a result. I noticed confirmation that terra firma is the party interested in contract mining, which I think wasn't mentioned before. And some firmer timings around the resource consent for full mining and processing.

Agreed haewai. The January quarterly or an earlier release around confirmed JORC and Terra Firma will be next IMHO. As an aside I understand Terra Firma has been involved in the White Island recovery, so their skills are obviously widely recognised.

[Ltw]

Things might not be happeneing as fast as we'd like but
A wise, major project manager once said to me:
9 times out of ten when it comes to Budget, Schedule and Quality you can have any 2 and only 2.
Over the years I have worked on a number of large projects upwards of half a billon dollars and this generally runs true
So if we take this principle and put it to NTL I think it runs true.
Through photos posted on the various forums and info out there the work done dose look to a good quality
We all know there is always budget restraints, on a project like this with a shoe string budget it is important you stick to your budgets.
So this then leaves the schedule very open ended with our company only in control of limited things that they are trying to get over the line right now.

The Pilot plant
Phase 1 of the test work has been successfully completed. This has been done in a structured way and Gold and precious metals recovery rates achieved. We now have a line in the sand, something to work from.
To blindly start processing would be a complete waste of time and resources. The key objective of the Pilot plant is to test, tune and retest so we know what we have, how best to get it and what quantity’s we have. Now design of a bigger plant or using someone else’s can procced.
IMHO Producing concentrate is not an issue the delays are in the testing and having access to the equipment to separate gold silver etc. yes they probably could have poured a nice shiny bar of gold by now but what has that achieved?
There are many things to consider and from what I see and read the approach they are taking is the long term one.

Phase 2 of the metallurgical test work which aims to gather data on the plant outputs sufficient to meet council requirements for a resource consent for a larger volume plant, has commenced. The sampling from processing small quantities of various ore grades will ensure sufficient sample size for ore treatment data to be collected and included as part of final plant application. The whole resource consent process is painful and something that requires care and attention to detail, stuff this up and its over before it begins.

IMO once all the testing is completed things should start moving ahead quite quickly – Resource consent, full scale plant or offloading ore / concentrate to others for processing. The mine is not stagnant and things are happening exciting times ahead it just may not be as fast as you hopped.
I believe mid next year after the bonus shares are issued we’ll see the share price dip then start to come good as the ducks start aligning – POG, Resource consent, Test work completed, solid plan to production other possible commercial agreements.

[suse]

Ugh. I hate this stock.
Quote of the year!

[youngatheart]

Ugh. It's odd that I have to read this explanation from a fellow investor as opposed to it coming from management though...

[youngatheart]

Which though wonderfully explained still may or may not be true...

[steveb]

Ugh. It's odd that I have to read this explanation from a fellow investor as opposed to it coming from management though...
Do you not mean a former investor?

I do not know when you initially bought into this stock,but I do remember when Suze bought in admittedly the SP was a lot higher then,but the stock was still a punt,or a gamble if you like.Management have not changed they are still incompetent when it comes to keeping shareholders informed.Just by reading the past posts here should have enlightened you guys to these continuing problems.

I must admit I would still love to see a business plan,and if nothing turns up before the next ASM I shall turn up and ask some very pertinent questions.

[Ltw]

It’s a stock that drove me mad for a while.
Then I read most of the announcements and thought about what I know from projects ive worked on both good and bad.
From there things started making a lot more sense. Well I hope so anyway.

I’m with you Steveb, I’d love to see a business plan as that lays out the plan and how you are going to achieve it this is certainly missing at present.

[Landyman]

Someone giving away Christmas presents at $0.006 = then again, they may know something :-)

Merry Xmas all, hope that 2020 is NTL's year

[tim23]

Maybe just impatient...

[Ltw]

A lot of movement today at .007 someone know something we don't.

[Lion]

A lot of movement today at .007 someone know something we don't.

Yeah, I thought something might be brewing when 5m+ shares traded for 0.7c at 10:08 this morning, with only 3m left on sale at 0.7 then.
This share will rocket once there's some solid good news, but I don't think that's today.
But I hope I'm wrong!

[Ltw]

Another million traded in the last half hour! typical I off load a few and it starts to get exciting

[haewai]

Probably just a few (two?) people mistakenly linking the company name to gold mining, and then to the current lift in gold spot prices.

[Ltw]

With the US and Iran bombing each other Gold has just had a rocket lit under it. All NTL need to do now is produce some bloody gold

[youngatheart]

Ugh. I stopped believing them when the latest report came out mentioning "15 years" in the same sentence as "the work still continues on the planning and costings..." so I guess its going to take years till they mine! Either way, two years!?! ago there was a spurt of activity but there's no evidence this past year that they've progressed much...

[Lion]

Could it be today, Ltw? Looking interesting again, 6.6m traded befoe midday, only one seller left with half a mil shares at 0.7.

I'll tell you another positive sign - when the Aussie posters on HotCopper get all bitter and start calling directors nasty names.
If we can hit 0.8 today, it will make a few people sit up and take notice.
But we really do need some positive news to get things moving.

[Ltw]

I think it's coming Lion.
I believe it will be a good year ;) .008 is not far away and from there who knows :) I have a good feeling the SP will be heading it the right driection very soon.

[Ltw]

knocking on the door of .008 over 8m shares today. has the sparks of the fire started a smolder :t_up:

[Rosco]

Hahahaha. You guys must be recent to the NTL party.

Getting the fire ready for another cash raise and subsequent cash burn.

[Jay]

knocking on the door of .008 over 8m shares today. has the sparks of the fire started a smolder :t_up:

Only talking about approx. $64K of shares all up maybe $110k approx. over the last few days - if I have done my maths correctly
Discl: I do have a very small number that I will hold on to and see what happens.

[Yoda]

Hahahaha. You guys must be recent to the NTL party.

Getting the fire ready for another cash raise and subsequent cash burn.
You are so right.... Things move sooo slow . Never mind, buy at .007 ( licenced to kill) and sell as far as they will go.... sell on the hype, and next CR. Nice stock to trade at 13% a pop. .
Long term....forget it, buy a real gold mine. Change the Old Guard and it might move forward.

[Ltw]

Selling at .006 IMHO is giving them away.