NTL - New Talisman Mine - New board & Directors

[digger]

Hopefully, I still think this stock currently doesnt follow the gold trend, but time will tell I suspect!

I reakon that if this stock 10 baggers, we should have an NTL get together and have a few!

We can even invite management :t_up::p


Count me in as well. I now have a few shares in this company and read this site too often says wife. I do not live that far from the old Talsman mine as I am 15kls north of Morrinsville.

[Dej]

GR8DAY etc all are welcome!

Now that gold is back up aboce 1400, I want you to be right moosie!

[mistymountain]

Big macro forces in play.

http://zeenews.india.com/business/bullion/bullion-news/speculators-in-futures-markets-caused-gold-price-crash-wgc_74510.html

[bullish]

http://www.marketoracle.co.uk/Article39970.html

Interesting article regarding how we got to here with gold.

[bullish]

everyone else will be celebrating while you will be at IPO price given your a 20 year holder.............GFY

[Minerbarejet]

everyone else will be celebrating while you will be at IPO price given your a 20 year holder.............GFY
unable to find GFY - is this ASX or NZX?

[Minerbarejet]

So is this get together going to be at the karangahake cafe and do we bring shovels, picks, ropes and lanterns plus a large cage for any unruly punters? Can probably get most of that in the Armstrong-Siddeley so see you there when the time comes.

[bullish]

unable to find GFY - is this ASX or NZX?

hey major its a term for gr8 not a stock...:)

[bucko]

http://www.miningweekly.com/article/pfs-promises-profitable-restart-for-talisman-2013-04-19

Just another article summarising the first release

"Ore Reserves - The formal documentation and public report pertaining to the Talisman's JORC compliant maiden Ore Reserve statement are being prepared and will be released within the coming weeks"

Can someone explain to a novice like myself what is going to be contained in an Ore Reserve statement? I thought they already outlined their estimates for ounces achievable in this project?

[elZorro]

Bucko, I don't know, but the industry puts a lot of faith in JORC resources. NI 43-101 reports are another standard, but don't necessarily have to include the amount of gold resources or reserves. Either report requires a lot of detailed work. Outlined estimates aren't good enough to secure funding for a mine development.

[elZorro]

From NZResources today:


Study for New Talisman paints positive picture for central African project
22 April 2013
Auckland-based New Talisman Gold Mines Ltd (NZX & ASX: NTL) has wasted little time in promoting the development of its first project outside of New Zealand.

On Friday the company provided a technical and corporate overview on the Mkopoto gold project in Katanga Province of the Democratic Republic of Congo in central Africa.

Earlier last week it provided details of a positive pre-feasibility study for its long-held Talisman gold project near Karangahake on the North Island.
New Talisman said the Mkopoto project had an indicated-inferred resource of 7.171 million tonnes grading 1.65 grams/tonne for 383,000 oz.
The company said a pre-feasibility study was anticipated by June to target gold production in 2014.

Back in February New Talisman announced signing an option agreement with Netcom Global Inc to acquire up to 62.5% interest in the company which has the right to acquire an 80% interest in Kisenge Ltd Mpokoto gold project presently owned by Casa Mining Ltd.

Mpokoto is in the western part of the Katanga Province about 250 kilometres west of Kolwezi where a gold anomaly was discovered in 2005 by Kisenge.
The area has a history of exploration starting from the 1920s. Manganese mining started in 1950. Since 1998 some $US20 M has been spent on exploration primarily for gold.
New Talisman said the railway from the Atlantic port of Lobita in Angola to the Congolese border at Luau/Dilolo has recently been reconstructed by a Chinese consortium and reconstruction of the line between the Angolan border and Kolwezi is planned for the next two years
Work was underway to assess the possibility of converting about 150,000 oz from resources to reserves suitable for agglomerated heap leaching. This study should be completed by June.
New Talisman said that in addition to the defined resources, technical group Tetra-Tech estimates Mpokoto has potential for an exploration target of between 20 to 24 Mt grading between 1.5-1.8 g/t Au.
The Mpokoto project was established by Kisenge Ltd owned by Cluff Mining Ltd in 1998, Goldfields of South Africa acquired Kisenge from Cluff Mining in 2003 and sold to Casa in 2007.
The project is presently owned 80% by Kisenge Ltd, the balance of the project is owned by L’entreprise Miniere de Kisenge Manganese – a Congolese Government owned company).
NetCom acquired an indirect interest through Casa Mining Ltd, a private company with a diverse shareholder base.
Netcom and Casa will prepare, during the first quarter of 2013, documentation for conversion of the area containing the gold project to a mining and exploitation licence. It is anticipated a mining exploitation licence will be approved by the end of 2013.
Initially the project could mine and treat 750,000 tpa at a head grade of about 1.6 g/t.
Tetra-Tech estimates the capital cost for a 500,000 tpa operation will be about $US12-14 M. A feasibility study is planned for completion by the end of the third quarter. Construction could begin at the end of the wet season in May 2014.
Based on the studies carried out to date, operating costs per ounce for the project should be in the range of $US700-900/oz.


NTL could end up with 50% of the mine, so will need to front up with only 50% of the startup capital. 20% of the project is owned through the Congolese government, which should help.

[Toasty]

Some weird stuff around the gold markets at the moment. Just read this today. I didn't really like the comment that it possibly hints at more pain in the world economic situation...

http://www.stuff.co.nz/business/opinion-analysis/8579941/Gold-price-collapse-hints-at-something-murky-in-markets

[bullish]

From NZResources today:
[B]


NTL could end up with 50% of the mine, so will need to front up with only 50% of the startup capital. 20% of the project is owned through the Congolese government, which should help.

I agree could not have better partners if one is in the Congo. Interesting but subtle point while they will own 50% they will control the holding company thus controllingt the 80% side. Seems to be about as safe as one can be in the DRC.

The project is very similar to a project held by ASX:EXS

[digger]

Tsk tsk, someone selling down when gold is on the up again and good news from the mine. Don't fight the trend my friend!

Shut up Moosie---I am buying

[errantnoodle]

Hello, I have just started share investing since January, and have been following sharetrader for at least 6 months. I offered 1.9 and unfortunately someone gave in just before 5pm, but I'm happy to be an ntl holder now :)

[Minerbarejet]

:)Hi errantnoodle,
Gratz on the first post. Welcome aboard. You have come to the right place. Is NTL your first acquisition? Hope you like parties because there is going to be one (eventually) Eh moosie.:)

[Minerbarejet]

Thats so last century, Moosie. So now we know for sure you are 27 or about to be. Remember I spent most of 1999 worrying if my computer was going to selfdestruct at Y2K. Now I face a more optimistic time with the likes of NTL, PEB, HNZ and PGW in my dotage.

[Minerbarejet]

lol, I am turning 27 this weekend. DEFINITELY going to party like its 1999 if NTL hits new highs! Dont worry it will hit new highs somewhere so you go for it. and gratz on the birfday.
Dont trip over your flamingoes. Gold is hopefully to hold at 1400 or above from here so we may see a bit of an
upswing this week

[Dej]

lol, I am turning 27 this weekend. DEFINITELY going to party like its 1999 if NTL hits new highs!

I baked you a cake! :t_up:

http://www.cakeamerica.com/images/image1/pink-flamingo-wedding-cake-965.jpg

[digger]

Hi Moosie,
So you are turning 27. In sept we will share the same digits,as well as having NTL in common. Now have heaps[ years and NTL].Was suprised that I got as many as I did as at the time I considered I was putting in a cheeky low bid.Guess my bids just coincided with the collapsed gold price.

[digger]

What is going on??? Am I seeing double,is the market mad or have I missed something????
NTL has a saler at 1.9 and NTLOA at 2 cents. Both have buyers at 1.7.

NTLOA is an option to buy the share in November 2017 or 4.5 years from now. So why not just buy the head. Can someone check that I have not missed anything??

[Dej]

What is going on??? Am I seeing double,is the market mad or have I missed something????
NTL has a saler at 1.9 and NTLOA at 2 cents. Both have buyers at 1.7.

NTLOA is an option to buy the share in November 2017 or 4.5 years from now. So why not just buy the head. Can someone check that I have not missed anything??

For real growth to occur in this stock we are going to have to wait. So dont track the day to day changes, be patient!

http://4.bp.blogspot.com/-09Q9aLyaZBM/UOoXFNDK3II/AAAAAAAACrA/jhCnTrqNbl8/s1600/patience.jpg

:t_up:

[digger]

Stark raving lunatics they are! The stock is so illiquid no one really keeps track of their money. Place a bid then walk away really.

Nevermind I straightened out the world by offering the 1.7 buyer some of my ntloa. He or she did not want many but it did clear the inverted situation up.

[bucko]

if only i had some spare cash....:t_down:

[Minerbarejet]

if only i had some spare cash....:t_down:
Some coming in two days - hope I wont be too late

[Dej]

No one even coughing up as gold threatens the $1500 barrier again and all the other gold miners are solidly up today. This stock is a weird one...

Still sticking with my statement, this stock doesnt change with gold prices given its not actually producing gold in the near future! I would like to be wrong given the gold correction, but it seems this is the case. :sleep:

[Dej]

Went down with the gold price, concordantly it should go up. It should not have as much effect as say an unhedged company like OGC, but if the price goes up/down those reserves are worth less/more in a sane world!

It'll get there moosie, patience! :)

[GRIFFIN]

Dej - Those that have owned Heritage/ NTL shares for more than 15 years know all about patience and happy birthday moosie.

[mistymountain]

Only went down because not enough buyers to support the short term SP price gain. HGD / NTL has always had price spikes followed by the inevitable return to its status quo.

The day NTL / HGD share holders see a SP increase with a resultant sustained increasing price trend over 3 - 6 months will be a day worth celebrating.

[bucko]

Just planning a week camping trip for the spring, going to go down south and do some gold fossicking! thought seen as my investments aren't getting anywhere fast i'll get the ball rolling myself :) and maybe do a bit of hunting while im at it ;)

I'm thinking there will be a major rally in the gold price next week, the international news I think is going to focus on the debate whether or not to provide military assistance in Syria which in theory should bring some volatility to the US stock markets driving up the gold...if the trends follow common/historical sense which the last few weeks they have not been!

[Dej]

Discussions with brokers on a placement were initiated with an agreed timeline for placement underway.



Dilution? Sure all well we have an internation investor, but that does mean dilution!

( Not passing comment, just pointing out the obvious to spur conversation)

;)

[bucko]

so if they are working on the roading to the talisman mine and other infrastructure that must mean they are looking at setting up shop fairly soon i.e. next 6 months? maybe they should talk to tv3/tvnz about doing a NZ Gold Rush series ;) haha

another 6-8 weeks and theres going to be some real movement on this stick i am predicting! Bring on the June report!

[Toasty]

Silly Canadians:

http://www.mining.com/survey-canadians-would-rather-work-at-a-mine-than-in-a-bank-64244/

It just so happens that I am quite a fan of see-through yoga pants...

[Toasty]

Yerrr, not so much me, my mother teaches yoga...

You stay away from her Toasty, she's a saint!

From what I gather you are in the young category which could make your mum around my age..ish. I rule nothing out. Although Saint Mrs Moosie doesn't exactly have a ring to it...

[Minerbarejet]

Santa Mucia does though.:)
Sorry you must think Im awful. Just couldn't resist.
Noah Fence

[elZorro]

Very clever Major, Santa (M)Lucia right? Are there some Catholics on the thread?

Going back to the post of a few days ago, the revelation that a Hong Kong based investor is interested in the Talisman Mine operation, is great news. From the company's point of view, it would be much easier to work with a few major investors, than hundreds of smaller retail investors. Of course the retail investors collectively set the level of the stock price, and dilution through a PP is not so painful if there has been a good capital gain on positive news in the meantime. OGC has used this method quite a lot.

But NTL could quite easily move from talking about mining, to mining in the short-medium term. This is where the big capital gain will come from. Cash in the coffers will speed this process up, so I'm all for the ongoing discussions with larger investors.

[Banksie]

nice - what will you play to signal a buy, "Rocket Queen"? :)

[tobo]

There is a 'hold' recommendation in this week's The Bull '18 stocks to buy/hold/sell', saying main focus is the DR Congo project.
Not sure about this recommendation as the recommender is Warwick Grigor of Canaccord Genuity.
(And he also says to hold PEN, surprise surprise.)

[Dej]

Interesting price action today. Admit it, who's doing the shooting? Major?

Aint me, but it making my moderate parcel look good on paper :t_up:

[robbo24]

Same here! Gold ain't looking too healthy today though, Asian trading making up for North American losses on Friday.

DISC- Holding, as always, and waiting for Mpokoto, some near-term mining and this mystery Asian investor!

Do you watch Jungle Gold on Discovery channel, moosie?

[bucko]

dem chinese miners be cray cray!

[Minerbarejet]

Interesting price action today. Admit it, who's doing the shooting? Major?
Not me -I'm long term hold for 3 bucks remember with quarter of a million. :eek2: tui

[bucko]

oh joy

but on a positive note, these funds are being used for the Mpokoto project, hopefully there is going to be another announcement regarding that shortly to counter the negative effect of the dilution.

June is the next report they are releasing with, i think it was some of the final drill results and other reports about talisman which are expected to be quite positive so I dont think this downward trend will continue for more than 2-3 weeks.

[elZorro]

NZResources didn't have much to add today.


Big placement by New Talisman24 May 2013
An allocation of almost 50 million shares has been made in a placement announced yesterday New Talisman Gold Mines Ltd (NZX & ASX: NTL).
A total of 49,410,000 fully paid shares have been issued, at an issue price of $A0.011 ($NZ0.0139) each, under both NZX and ASX listing rules.
The company said the raising produced $A543,510 ($NZ543510) before expenses.
The funds will be used to progress the Mpokoto gold prospect in the Democratic Republic of Congo and for working capital. New Talisman, which holds the Talisman gold project at Karangahake near Waihi, recently took up a right to the Mpokoto project where it was earning 62.5% and the right to lift its equity to 80%.
The latest placement takes the total issued shares in New Talisman to more than 528.8 million.


Just over a 10% dilution, to keep things moving - I would have thought that by now we'd be seeing a bit more detail about how the Talisman Mine is going to be developed, timelines etc. Although I know nothing about the Mpokoto project, perhaps cashflow from there is quicker.

[Dej]

Still with us moosie?

[Dej]

I'm still alive and kicking ;)

I thought, just for a punt, ill put a tiny order in at 1.2.... lol that worked?

[Dej]

lol, looks like you got your wish there. Lucky buying in that low!

Just adding to my holding already, but was a nice little top up! :t_up: Expecting any news soon?

[Dej]

Report is out

[bucko]

im brimming with optimism

[Dej]

Nothing stands out in ther report, pretty much what was expected. Which is good, atleast they not underpreforming :p

[GRIFFIN]

This should be called the Gunna gold company, they have been gunna extract some gold for 20 years by the numerous reports, and after all this time they have produced Yep Sweet FA.

[bullish]

This should be called the Gunna gold company, they have been gunna extract some gold for 20 years by the numerous reports, and after all this time they have produced Yep Sweet FA.

Griffin

not sure what your smoking ..... clearly you dont understand mining companies particularly exploration companies.

Since December 12



Scoping study complete
Doubled market cap
Prefeas complete
Mine upgrade complete
Key engineer on board
Acquisition of a solid Africa project
Increased resources with Africa to a jorc 500k oz
raised a bundle of cash and put it to work effectively


Cant see one other NZ gold miner that has done so much is such a little amount of time on a low cash base.

Cannacord must like this co as it seems they have as always been able to raise in a climate where no juniors have.

Moosie gets it. Junior miners work exactly like this albeit most would accomplish the above in 2 years!!!

Patience people. Next value point shoudl be Africa Pref or Talisman mine plan and bankable feas. On the down side they will need to do a large raise to start production but such dilution will be balanced by starting such production.

DISC: Holding NTL, NTLO, NTLOA and buying on weakness.

DYOR

[Dej]

Griffin

not sure what your smoking ..... clearly you dont understand mining companies particularly exploration companies.

Since December 12



Scoping study complete
Doubled market cap
Prefeas complete
Mine upgrade complete
Key engineer on board
Acquisition of a solid Africa project
Increased resources with Africa to a jorc 500k oz
raised a bundle of cash and put it to work effectively


Cant see one other NZ gold miner that has done so much is such a little amount of time on a low cash base.

Cannacord must like this co as it seems they have as always been able to raise in a climate where no juniors have.

Moosie gets it. Junior miners work exactly like this albeit most would accomplish the above in 2 years!!!

Patience people. Next value point shoudl be Africa Pref or Talisman mine plan and bankable feas. On the down side they will need to do a large raise to start production but such dilution will be balanced by starting such production.

DISC: Holding NTL, NTLO, NTLOA and buying on weakness.

DYOR

Im with you on this bullish, but I can understand how some people will view this as risky.

Disc: Holding for awhile now - top up when possible

[bullish]

Exactly my sentiment, but I love risk :)

Anyone who is in this stock for dividend reinvestment plans versus capital lifts is missing it, there are no 10 baggers in buying BHP!!

There are those possibilities in Juniors but such comes with risk.

Given the huge risk in explorers transitioning to developers it appears NT have done well thus far in recognising they needed different skillsets resetting their strategy and going all out and gaining traction in a lagging gold market.

moosie whats your bet rights issue SPP or a placement we all miss out on to get these mines going?. I personally am happy to take on the dilution if it gets us to production on one or both these assets. I hope its a rights issue with a bonus like they did last year I think.

DISC: Holding NTL, NTLO, NTLOA and buying on weakness.

DYOR

[bullish]

They will need to find the $ somewhere though or it will be a very very slow ride to producing.

[GRIFFIN]

The only way forward for NTL is to find a partner to help fund full development and for some reason they are not having any success in doing this.Most long term share holders will not part with cash as they have done this several times over the years and probably get the feeling they are flogging a dead horse.

[Dej]

The only way forward for NTL is to find a partner to help fund full development and for some reason they are not having any success in doing this.Most long term share holders will not part with cash as they have done this several times over the years and probably get the feeling they are flogging a dead horse.

Maybe they will do that once they have a full feasibility report? Doubt many people will invest huge amounts of capital into just a pre-feasibility report? Could be wrong.

[Minerbarejet]

Ow, today is hurting! Looks like the ASX is leading us for once...
well that brought the average sp down a bit

[Crow]

well that brought the average sp down a bit

Well looks like it is all continuing again today :scared:

[Crow]

Hence a lot of sitting on hands for me at moment. Falling knife and all that.

[Minerbarejet]

Some rationale in a rather irrational market right now:

http://www.kitco.com/ind/Resopp/2013-06-11-This-Time-is-Different.html

Thanks Moosie. Its been so quiet I suppose you had trouble finding the NTL page. Should be some news in the next week or so.:)

[bucko]

great time to snap up some more shares then :eek2: almost down to the 1c again

[digger]

I think we may be able to get under 1 again in rwgards to negative sentiment for gold. as long as the PoG stays above the cash cost then NTL is well undervalued. can't wait for the prefeasibility from DRC to come out very soon.

Moosie , are you not trying to have it each way? If the prefeasibility as you say it is going to be positive then buying should be now. We can hardly hope this report will be supportive of a higher SP and at the same time wait for it to drop so you can buy in cheaper.

[Minerbarejet]

somethings up - any ideas moosie


thanks for the link - forgot about that nzx link:)
All go by the looks- IF.

[bullish]

Seems these guys are bucking the trend. All other juniors or even mid tiers are shutting down projects dumping ground and sending staff home. I am quite pleased with the activity to date. NTL is a far cry from the old heritage and appear to communicate only when they have made progress or are about to. I sense there must be something going on re Congo as we haven't heard any update while they do due diligence, and with Gold plummeting which effects low grade plays first I wont be surprised if they hold for a minute.

The great thing about their Talisman project is they have high grade ore which in a plummeting gold price environment allows companies to drop their cost per ounce by as the say by their tagline "going for gold".

Underpriced in NZ based on Aus price of 1.2Cents. Seems the Aussies are taking the lead on this co for once. Once Gold starts trading within a stable again we should see it stabilize but short term it certainly looks gloomy and impacts all gold juniors. Somehow these guys go up while everyone else craps out. Go NTL.

Moosie what was their price per Oz? It would be interesting to compare to Oceana and GEL to see how low it can go before these guys are impacted (assuming Feasibility doesn't change cost of ounce too much!!)

DYOR

DISC - Holding NTL NTLO NTLOA and buying on weakness.

[bucko]

http://tvnz.co.nz/business-news/gold-slides-near-three-year-low-5477873

hopefully we see a gold rally....say around december time when the next major report comes out ;)

[Minerbarejet]

NTL defying gravity today - so far


http://www.webelements.com/gold/uses.html
Hardly a useless metal.

From the 2013 Annual Report
Northland Gold and Base Metal Project, NEW ZEALAND
Wholly owned subsidiary Northland Minerals Ltd has reviewed historic
exploration data for its 1188 hectare Exploration Permit in Northland,
New Zealand. The permit covers an area of seafloor basalt, intrusive
dolerite and associated seafloor sediments, (Tangihua Volcanics) that
have potential for the discovery of gold-rich base metal massive sulphide
deposits. This deposit style is considered analogous to the “black
smoker” base metal and gold-rich deposits currently being researched
off the north east coast of New Zealand, often referred to as volcanogenic
massive sulphide (VMS) deposits. Overseas examples of this style of
mineralisation include Rio Tinto in Spain, Cyprus-style on Cyprus Island,
and Mt Lyell in Tasmania.
Several copper occurrences have been mined in the past but no modern
exploration has been undertaken in the area since the 1970’s. Previous
reconnaissance sampling by Northland Minerals showed that this deposit
style can host high grade mineralisation. Two grab samples of Mullock
from the Copper Queen Mine near Parakao demonstrate this potential.
The first sample comprised massive sulphide that contained 17.2g/t Au,
11.41% Cu, 28.2g/t Ag and 0.42% Zn. The second sample of highly
oxidized massive sulphide returned grades of 21.68g/t Au, 47.41% Cu,
48.6g/t Ag and 0.08% Zn.
The Company considers there is good potential to discover economic
VMS deposits in the permit using modern exploration techniques in this
underexplored region of New Zealand.
Not bad for mullock:)
Websters defines mullock as a: refuse earth or rock from a mine
b: earth or rock bearing no gold
I remain interested :)

[Minerbarejet]

Wow, those are some huge grades right there. Going to need them in this climate of fear! PoG just dipped below $1200, looks like $1000 is up next. Blood being spilt all over the floor on this one!
The Company considers there is good potential to discover economic
VMS deposits in the permit using modern exploration techniques in this
underexplored region of New Zealand.

Understatement of the year if those grades are correct :)

[Minerbarejet]

Wholly owned subsidiary Northland Minerals Ltd

[Minerbarejet]

Oh jeez, why did that not click?! Thanks Major! :t_up:

http://opencorporates.com/companies/nz/1781794

So - they can save that money to buy out OGC.:)
Ill have a tui thanks

[Minerbarejet]

Wow, those are some huge grades right there. Going to need them in this climate of fear! PoG just dipped below $1200, looks like $1000 is up next. Blood being spilt all over the floor on this one!

AKA: Correction Fluid

[bucko]

you guys rekon NTL could be valued the same as OGC once this mines operational???

I cant wait till December...hopefully when they release this report its going to feel like Christmas came early :D

[GRIFFIN]

And hey NTL Where's the major investor from Hong Kong.

[Minerbarejet]

And hey NTL Where's the major investor from Hong Kong.
jeez hope its not agria lol

[bullish]

And hey NTL Where's the major investor from Hong Kong.

Could be anywhere given nominees however someone picked up the placement in a dead market

[elZorro]

Those are very high bonanza grades in the selected ore they sent to SGS from Talisman. If they have plenty of that grade, it doesn't matter what the gold price is.

[bullish]

How many grams per ton is the highest grade in that ? I defer to you and the golden moose to translate.

From my read they are very active and even where gold looks are moving milestones while everyone else is shutting stuff down.

What's your guys view. I like that new tal are focussed.

Anyone know these guys running it?

[Minerbarejet]

I cant believe this- 1.02% from pra 4-6 is 10200 ppm. 10200 ppm = 10200 gr per tonne. 10200 gr per tonne = 327.97 troy ounces per tonne. (10200÷ 31.10( gr to troy ounce)=327.97) 327.97x POG 1250.00= $409,962.50 US per tonne. At that rate they wont need any machinery - they can just walk in and out with a couple of buckets every day. Thats what I make it anyway but could be proved wrong. E&OE:)

[whatsup]

I cant believe this- 1.02% from pra 4-6 is 10200 ppm. 10200 ppm = 10200 gr per tonne. 10200 gr per tonne = 327.97 troy ounces per tonne. (10200÷ 31.10( gr to troy ounce)=327.97) 327.97x POG 1250.00= $409,962.50 US per tonne. At that rate they wont need any machinery - they can just walk in and out with a couple of buckets every day. Thats what I make it anyway but could be proved wrong. E&OE:)

Thats what I thought but then thought I was wrong, who else can confirm?

[bullish]

Lucky you. How far in the mine was that ore from yankiwi? Easily accessible hopefully so these guys can get us all some $$$. :)

[Minerbarejet]

[/QUOTE] better not remind the Mrs that those quartz rocks in our flower garden have more than visual value! ;)[/QUOTE] Dont forget to take them with you if you shift houses otherwise you may start a mining exploration boom in your district if someone digs them up in years to come.:)
And on another note -Moosie must be gobsmacked speechless with these grades- either that or he has shot up there to give them a hand - haven't heard a word out of him.:) Maybe he's in your garden?

[elZorro]

Here's the news release from yesterday, for those who missed it.

http://www.asx.com.au/asxpdf/20130705/pdf/42gx44jq96lzrs.pdf

The ore samples were from a Bonanza area, so would have been removed directly from a quartz vein inside the mine, and picked because there was strong visible gold or other indications of a good result. Nothing wrong with that, but they won't be representative of the whole mine. Coromandel gold mining of veins historically yielded an average of 3oz/tonne, anything over 1oz a tonne is now regarded as a bonanza grade. The samples NTL sent in ranges in yield from a low of 30oz/tonne to 300oz/tonne (10kg of gold in a tonne, a tonne being about half a cubic metre of ore).

The gold price has dropped a bit, but is still in real terms at least twice what it was worth when serious mining last stopped at the Talisman Mine area.

Majorbarejet is right, the highest sample grade mentioned, about 1.2% gold (those sorts of results usually apply to copper or base metal mines) would in theory mean that if you sent a small wheeled vehicle in, and it returned with half a cubic metre of ore at that grade, there would be US$360,000 of gold within the load. Plus about US$6000 of silver of course.

I would like to hear a bit more from the company, about how they're getting on with planning on the mining equipment for New Talisman, but at the same time happy enough to hear they have dropped the idea of more immediate funding for a heap leach project overseas. We have enough gold to work with right here.

I found this older writeup from Heritage Gold on the BM37 bonanza vein. It's from May 2005. See page 21.

http://www.nsxa.com.au/ftp/news/021717271.PDF

The crosscut was taken directly from the tunnel wall, and had a grade just under 30 oz/tonne. There's also a photo or two from when limited mining was established, using a Bobcat and a trailer pulled by a small tractor.

More detail from a 2004 writeup on the BM37 crosscut. The gold appears as small grains surrounded by sulphides, not obvious, but very high grade. No mention of how extensive this area is.

http://www.nsxa.com.au/ftp/news/HGD272004125238.pdf

[Minerbarejet]

mpotoko update at the bottom of the last release, moosie.

[Minerbarejet]

sorry, i meant the actual prefeasibility report on it telling us if they are going to go full bore or not with the investmentI got the idea that there wasnt going to be one because they didnt have sufficient time to do the study and due diligence before the option expired. Could have the wrong end of the stick though but thats what I read into it.

[bullish]

I got the idea that there wasnt going to be one because they didnt have sufficient time to do the study and due diligence before the option expired. Could have the wrong end of the stick though but thats what I read into it.

Im with you major. It appears from their first announcement and second on congo that they would get a PFS around the same time they decided to exercise to take control. That sugggests to me that the Netco company mustnt have completed the study if it says DD could not be completed.

Major do you know anything about the managment team?. It seems they have really changed this co.

[Minerbarejet]

only what I have learned from this forum and from company reports for ntl and heritage. Bullish, you must be the one closest to the actual mine itself, anything going on there, any word around Waihi? Good to have a " man on the ground" so to speak. Seems all go, great grades from the samples although I would suspect they are the really good ones only - would get a better picture if they put them all in. Smallest is 300g/t - would be more revealing if they put in how many samples contained under 2 g/t which I understand is sort of a benchmark for viability. :)

[bullish]

woohooo go for it NTL 1.8 cents gone through. Moosie you must like those grades....:)

[Blue Horseshoe]

I've been considering buying some NTL, but in the back of my mind are some greenies standing in front of the bulldozers like Bathurst and Glass Earth.
I was wondering if any of their mines are likely to be under the spot light, or have they not got any conflicts.

[Dej]

Hello from Monte Carlo!

Good news I see all around! Would be nice to see this price maintained though before we get our hopes up. If I remember correctly we saw someone buy small amounts to try ignite the price many times in the past, so don't get your hopes up to soon!

[Minerbarejet]

What is known as a FOMO moment (fear of missing out ) close relative of another common modernday saying
FONK (fear of not knowing) -both are drivers of the modern youth via social or in some cases unsocial media

[Dej]

What is known as a FOMO moment (fear of missing out ) close relative of another common modernday saying
FONK (fear of not knowing) -both are drivers of the modern youth via social or in some cases unsocial media

Well in fear of missing out, I will place some Euros on red tonight for out NTL friends in the Grand Casino :t_up:

[Minerbarejet]

Thanks very much- keep us posted and have a great time. Presume you will be buying into
NTL with all the winnings. Where did you park your yacht?:)

[Minerbarejet]

Hello from Monte Carlo!

Good news I see all around! Would be nice to see this price maintained though before we get our hopes up. If I remember correctly we saw someone buy small amounts to try ignite the price many times in the past, so don't get your hopes up to soon!
Bang on dej! Order in for 250 bucks worth atm

[Minerbarejet]

Some good news today. Slow and steady, we will get there. 2014 should be good when we start mining. :)
What is this we kemosahbi.
I cant see any diff between the old disc and the new one.
Have been meaning to ask you - do you own any ELK on asx
Just kidding:):):)

[Minerbarejet]

Well in fear of missing out, I will place some Euros on red tonight for out NTL friends in the Grand Casino :t_up: How did you get on Dej? :t_up: or :t_down:

[Minerbarejet]

To quote the eternal wisdom of my father as he me constantly says to me and I now say to you Major:

"You're a goofus maximus" My father used to say a heck of a lot worse than that. Thanks anyway - I feel like I have been knighted- or something.
Back to thread, bit of a disparity between aus and nz prices atm:confused:

[elZorro]

New Talisman in talks for processing Talisman ore12 July 2013
The company holding the historic Talisman gold mine at Karangahake is continuing talks with New Zealand and Australian miners for treating its high grade gold-silver ore.
In an update statement this week New Talisman Gold Mines Ltd (NZX & ASX: NTL) said it was looking at options for toll treating ore from the planned re-opening of Talisman which was one of New Zealand’s major historic precious metals producers.
Karangahake is only a few kilometres from Waihi where Newmont Waihi Gold has a major gold plant for its operations. However, talks in the past have failed.
The company’s pre-feasibility study on Talisman was completed in March and this identified the opportunity for a small scale mine as a precursor to an expanded operation.
As reported before, New Talisman said a small scale mine would provide a low risk approach to rehabilitating parts of the mine and establishing operations to generate short term cash flow while undertaking further evaluation work to increase the resource base.
A feasibility study on Talisman is the next step in project development.
As an integral part of this the company will undertake a metallurgical sampling programme to recover bulk ore samples from the resources targeted for early mining.
Executive director Matthew Hill said planning for this stage is now complete and has been presented to the board.
The work programme consists of three parts namely establishing the surface infrastructure to support underground operations, refurbishment of the underground workings to provide safe access for sampling, and metallurgical sampling via a series of small drives developed on the ore.
Rock specimens from the BM37 Bonanza zone were sent for chemical analysis at SGS New Zealand’s Waihi laboratory and provided significant gold and silver assays.
Hill said an independent geometallurgical report on these rock specimens suggests testwork to assess the “recoverability of gold via gravity concentration and flotation methods is essential.”
Negotiations with consenting agencies for the planned low impact bulk sampling are progressing.
Hill said funding discussions for the “low capital required for the bulk sampling phase” have begun.
Hill said: “It is a clear advancement of the company’s steps toward production in a climate where other developers are unable to advance their projects particularly in NZ. With considerable flexibility in the high grades of Talisman the project appears well shielded from the current depressed gold price.”


You'd have to think that access to Newmont's mill at Waihi would be very useful. Maybe the higher grades they found mean that they're able to offer a bit more for treatment at a mill. It sounds like Stuart Rabone is sending his ore there, from Broken Hills mine. The Broken Hills ore is certainly going somewhere in Waihi, according to a recent press article.

On the other hand, if the vein grades are consistently very high, a quite small milling system might not be too hard to build up.

[Dej]

How did you get on Dej? :t_up: or :t_down:
Hello from Paris now!

Managed to pay for half the hotel room in Monte Carlo on black jack, had a man next to me betting 1000 euros a hand which was astounding! Put the roulette bet down but no good! Good thing it wasnt my whole budget! Good fun though, definately recommend it! The glamor and wealth is fun to watch and day dream about!

Seems NTL gas dropped away again but as expected. I feel im going to hold until atleast early mext year before I concider anything. Got to give it time to mature. So this price fluctuation doesnt bother me!

Wont be back in NZ for another week or so, so keep the support up while im gone ;)

[Minerbarejet]

Watch out, massive seller on the OZ market...
Thats only 57000 dollars worth Moosie, mere bagatelle, be all gone in no time once the digging starts. Have picked up a few as .009 aud isnt .15nzd. Cheers
:)

[Minerbarejet]

There's barely been 6M shares traded in the past 6 months, I'd hardly call that insignificant, especially if they're dumping it all at once!
they will be sorry when it gets to .027 or more
You worry too much- seems your optimism has taken a bit of a pounding lately.:)

[Minerbarejet]

lol, can't really help it with gold price very weak and mining still miles off. I'm still a bit young and 6 months is aaaaaages for moi! We'll get there though, good times and bad :)
Thats more like it - dont worry, when you are 70 and busy 6 months vanishes in about a fortnight.:)

[digger]

Thats more like it - dont worry, when you are 70 and busy 6 months vanishes in about a fortnight.:)

At now coming up 72 it is about a week and a half. Yes busy is the secret and happy being busy. I have about 2.5 acres of hillside where I am planting the garden of Eden.

[Minerbarejet]

:blush: Trust you are planting a fig tree, Digger

[Minerbarejet]

When the NTL share price hits 7.0 or 7.2, six months will seem more like hours! (or is that ours?) :D
That means our friend in ozz selling 6.3 mil will be leaving nearly 400,000 on the table which will be ours or yours if you buy a swag.:blink:

[Minerbarejet]

digger, you are up near the mine arent you? Heard any gossip in the local rags?

[percy]

At now coming up 72 it is about a week and a half. Yes busy is the secret and happy being busy. I have about 2.5 acres of hillside where I am planting the garden of Eden.

Should you need any native trees planted let Winner69 know.
Does it as part of his community service.Fine fellow.

[digger]

digger, you are up near the mine arent you? Heard any gossip in the local rags?

Been lazy ---haven't looked. But will do that In the next few weeks as we go walking past the mine sometimes. Last year we went into the beginning of it.

You can see the big advantage that opening an old mine with new research has as all the miles of rock face is open to examine, so high grades should be much easier to locate.

Am planning to go to the AGM. Anyone else thinking along those lines??

[elZorro]

Here is an old 2003 report on Heritage Gold. There is a bit of a mention about Onemana grades in the downloadable PDF (Newmont has that area now) and a mention of Waihi North (Newmont/GEL have looked there since).

Of more interest is the BM37 hotspot at the Talisman Mine. Massive grades there, well known 10 years ago or more.

http://www.eagleres.com.au/reports/item/jun-2003-heritage-gold-nz

[Minerbarejet]

Watch out, massive seller on the OZ market...
Hes been taken out - normalcy may return.:)

[BigBob]

Just shy of 5 million shares traded in Oz yesterday (and reasonable volume here too) - this is the highest volume for a few years at least.... no movement in SP either side of the Tasman though....

Maybe a sign of something interesting (finally) afoot...??

[Minerbarejet]

Am planning to go to the AGM. Anyone else thinking along those lines?? All going well should be able to get there. Wonder if someone could show us through if we got a group together prior to or after?

[z0ton]

Reports out:
https://nzx.com/files/attachments/179005.pdf
https://nzx.com/files/attachments/179006.pdf

[Landyman]

Has NTL gone mad????????? Timeframes on expected results, I almost fell off my (soon to be gold encrusted) chair

[elZorro]

Has NTL gone mad????????? Timeframes on expected results, I almost fell off my (soon to be gold encrusted) chair

Another good thing about this company, their expenses are modest, their reporting is prompt, and they have a stable amount of cash in the bank on term deposit.

[bullish]

Another good thing about this company, their expenses are modest, their reporting is prompt, and they have a stable amount of cash in the bank on term deposit.

Totally agree el z. Thanks for your recent research. Looks like the heritage of old is gone and been replaced by a go get em style approach to this mine. Even if there are a small number of ounces in bm37 that should carry them through even a major downtrend in gold price.

They will need to fund it now I suspect a placement but one can always be hopeful for a rights issue with a free option. Those last ones traded as high as 1.7 cents!!!

What's your take? You seem to know this co well.

[elZorro]

Totally agree el z. Thanks for your recent research. Looks like the heritage of old is gone and been replaced by a go get em style approach to this mine. Even if there are a small number of ounces in bm37 that should carry them through even a major downtrend in gold price.

They will need to fund it now I suspect a placement but one can always be hopeful for a rights issue with a free option. Those last ones traded as high as 1.7 cents!!!

What's your take? You seem to know this co well.

I'm afraid I don't know this listed company very well, compared to another one I've looked at for a few years. This experience is partly why I like the comparison.

Those BM37 grades are very good, it will cover a lot of costs if there is a reasonable amount anywhere near that grade. I like the recent activities report, (those few words about lining up suppliers of equipment, these are not words Heritage mentioned very often).

http://www.asx.com.au/asxpdf/20130731/pdf/42hcmdp8n4hcxg.pdf

I see what you mean about a rights issue. Yes, that would be attractive if there was, say, a 2 year right to options at a price about 50% above a private placement share issue. There might be quite a clamour for the shares on that basis. If this is what they have in mind, there will be some good news popping out on a regular basis until the PP deal is announced. It would be easy to raise a few million if the shareprice doubled first, but I don't think they really need much capital for opening up an existing mine.

If management is already in contact with equipment suppliers, we could see some outlines of the gear that they hope to use, the techniques and the timelines for implementation.

The report earlier this year (http://www.newtalismangoldmines.co.nz/wp-content/uploads/2013/01/NTL_Presentation_250113.pdf)gave some figures for measured, indicated and inferred resources of gold in the Talisman mine permit area. I've ignored silver, but that helps.

JORC/Measured: 205,000oz at say $160 an ounce in ground = $32mill
Inferred: 197,000oz at say $50 an ounce in ground = $10mill
Indicated: 500,000oz at say $20 /oz in ground = $ 10mill

These figures are made more reasonable by the facts that the grades are good, the mine was abandoned when gold prices were much lower, and mining appears to be a strong option in the near future, with the possibility of using Newmont's nearby mill and plant in a batch mode. In any case, the initial quantities to be processed are small, and if they could handle it 100 or more years ago, we can surely do it better now.

If the gold in ground is actually worth at least $52mill now, it'll be worth a lot more when it's being mined. The geological potential of the mine area is somewhere between 0.55Moz and 1.2Moz. Great numbers for a boutique mine.

[Dej]

Its a quiet NTL thread these days... :-P

[elZorro]

Agree Dej, we don't have much info to go on. I found this August 2012 community note, maybe there are more on the website. They intend to make a sand concentrate on site, which could be as basic as crushed rock from the vein areas, run through a VSI crusher. They mention using flotation and gravity separation elsewhere, in 2013. The mine is projected to be up and running within 12 months from now.


http://www.newtalismangoldmines.co.nz/wp-content/uploads/2012/08/Karangahake-Community-Newsletter-August-20122.pdf

[Dej]

mining a year away at best. a bit further away than I thought but that's ok as long as it all stacks up.

on the market, some big buyers lined up at 1 and 1.1 cents. I'm pretty bearish on gold near term until we find out about QE next month. but the cost is so low for C1 I can't see it mattering too much.

Bought in at 1 earlier this year if you remember (that fateful day) and I have been apart of the 1.1 purchasing as well :t_up: been holding though for just under a year now.

For me this doesnt really bother me what happens, its a personal interest stock for me. I find it interesting to be apart of something I enjoy learning about, and what a better operation than NTL since its boutique, and in its early stages!

Would be nice for her to start mining though, because atleast then we know 1 - 1.1 c isnt fair value ;)

[Minerbarejet]

oh yes, a major revaluation is due next year when mining begins! be intersting to see if a falling gold price puts OGC and GEL pretty much out of it in NZ and leaves NTL as the only viable lusted gold producer. also be interesting to know who NTL team up with to extract the gold from this concentrate...
It will be lusted alright when it takes off- have been quietly snakkumulating here and oz.:)

[Dej]

Nicer volume today (all be it pretty much nothing compared to other stocks!)

[Minerbarejet]

try again- anyone going to the meeting in auckland on sept 19th. Expenses can be claimed if you are a trader according to my accountant.

[Dej]

I would go but I will be in Morroco at tgat time. Would be interested to know what is said though!

[elZorro]

mining a year away at best. a bit further away than I thought but that's ok as long as it all stacks up.

on the market, some big buyers lined up at 1 and 1.1 cents. I'm pretty bearish on gold near term until we find out about QE next month. but the cost is so low for C1 I can't see it mattering too much.

Hi Moosie, I should correct my previous post - while mining of maiden ore is projected further into 2014, the ore piles still around the mine and maybe some they'll remove while opening up the mine again, will be processed somewhere in Q1 of 2014. From the annual report:


LOOKING AHEAD
It is an exciting year ahead for New Talisman with its core project heading
toward development and production. A Feasibility study has been
initiated on the Talisman Mine, which will provide both financing and
treatment options. The Board is enthused by the results of Pre-Feasibility
studies, which are currently under independent review by Hatch, a global
mining engineering company. With the first ore expected to be mined
by Q1 2014 and processing options currently being investigated, the
company is on path for maiden gold production in Q3 2014.


The annual report says elsewhere that mine processing plant design will make up a big part of the work in the feasibility study. Looks like they see no major issues with getting the ore out from the mine areas. So within 6 months, the company should have some inwards cashflow from operations.

They still have cash in the bank, and from what I can see, good average grades for underground. Once those are being mined I can't see the MCap staying at about NZ$5mill. It'll be interesting to see how quickly the shareprice responds once there is news on gold cashflow. Maybe it's a good time to accumulate.

[Minerbarejet]

jeez, its dark in here

[Minerbarejet]

it sure is. one of the very few underrated NZX stocks left. its languished for so long I guess everyone just ignores it and is going to play it conservatively. once that cash starts flowing and were in profit its nowhere but up. waiting patiently for 2014 :) Too right Moosie. All going well should augment PEB quite nicely. Going to the AGM?- I am - mainly for the experience and to try out my new hearing aid
in a meeting environment. Usually cant hear a damn thing in places like that.

[Dej]

Too right Moosie. All going well should augment PEB quite nicely. Going to the AGM?- I am - mainly for the experience and to try out my new hearing aid
in a meeting environment. Usually cant hear a damn thing in places like that.

PEB you say? Where is the AGM being held?

[Dej]

jeez, its dark in here

Are you stuck in the mine major, trying to sneak some gold out?? ;)

[Minerbarejet]

nah, just moved over here to get away from all the finer points of PEB and the fallout from the AGM. Will you be back for the NTL AGM 19th Sept. Hows Morocco?:)

[Dej]

nah, just moved over here to get away from all the finer points of PEB and the fallout from the AGM. Will you be back for the NTL AGM 19th Sept. Hows Morocco?:)

I am leaving for morocco on the 1st of september (nothing like 24 hours of flying) and will be back 3 weeks later, so will miss this meeting but will definitely be at the next! I hope, one day, they let the share holders have a look through the mine or even just at the surface operations (obviously not many at the moment) would be very interesting!!

Will keep you all updated on my travels :p Like baller said, I love this forum too!!

[Minerbarejet]

have a great time - Ill post whatever I can glean from the meeting and will attempt to arrange a shareholder visit of some sort if there is nothing forthcoming. Of course its not all just about Talisman - there are all the side issues of broken hill prospecting, northland, the Congo and permits the other side of Waihi. The Rahu prospect looking interesting too. Plus gold seems to be holding up at the moment but you never know what that will do.
Looking forward to this but not so sure about going to the Great Smoke after the Wellington effort where I found myself at the airport standing under a large beam during the earthquake.:eek2::eek2:

[Minerbarejet]

Have you asked for a tour of Talisman?

I did (3 and a bit years ago) and Peter was more than willing to work with me setting up a time for a well guided tour of the mine.
Thanks for the suggestion, have just emailed them re this Who is a starter then if it can be arranged?

[Dej]

Thanks for the suggestion, have just emailed them re this Who is a starter then if it can be arranged?

Awesome! Thanks Major

[digger]

Thanks for the suggestion, have just emailed them re this Who is a starter then if it can be arranged?


Count me in. Thanks for the organising.

[Minerbarejet]

hey digger hows the garden of eden?
havent an answer from ntl yet but its early days
3 coming so far :)
dej might be away though

[Minerbarejet]

no reply yet re mine visit - must be busy with AGM stuff
Anyone got a meeting notice yet?

[Toasty]

No notice yet. Just thought I would hang out in this thread for a while. Its the only one of my holdings without a giant red down arrow next to it. Although I bought at 2.5 so that's already happened...

[Minerbarejet]

No notice yet. Just thought I would hang out in this thread for a while. Its the only one of my holdings without a giant red down arrow next to it. Although I bought at 2.5 so that's already happened...thanks for that toasty, thought I might have biffed it accidentally. Would be interested to know how you dont have a red arrow even though you bought them at 2.5 which I hope you mean .025. Have been picking up a few lately, one more batch and it will be 7 figures.

[Dej]

Might make it onto the Shareholders top 20 list at that rate Major. I was on it for a brief period of time months and months ago ;)

How many shares do you need to be on it? Or where can you find the list?

[Toasty]

thanks for that toasty, thought I might have biffed it accidentally. Would be interested to know how you dont have a red arrow even though you bought them at 2.5 which I hope you mean .025. Have been picking up a few lately, one more batch and it will be 7 figures.

Yes .025. Just red arrows today. I did the damage on this one a few months ago. Strangely I do feel the urge to buy more. If this Syria vs US thing gets any more physical gold might become desirable again....

[Minerbarejet]

and dont forget the great grades earlier in the thread - at Waikino and Northland plus the cobalt in oz much bigger than imagined

[Dej]

Thanks team, would be quite cool to own 7 figures or be a top shareholder in a company, but you have to have serious faith in a company then. ;)

[Dej]

Faith, truly big cajones and sheer volume could have you owning the Porsche dealership down the road in a few years!

Isnt that what we all hope? 10c here we come right? ;):t_up:

[Dej]

Tbh AHZ (asx) is doing me good at the moment, given I bought in on opening... First time in a long time I have owned more ASX stocks than NZX, nzx not doing me well.

[Minerbarejet]

basically its last years trading profit fed into one stock - after tax of course. No Porsches thanks but I might get a porch on the cave - then again I might not.:)

[Minerbarejet]

"Despite all my rave I am still just a Major in a cave"??? ;)"Here he flamingoes again, the moose that kiwis couldnt train.":)

[Minerbarejet]

Thanks team, would be quite cool to own 7 figures or be a top shareholder in a company, but you have to have serious faith in a company then. ;)If NTL becomes a major or even a minor major miner it would be good to be a minor major shareholder.
Must be friday:)

[Dej]

If NTL becomes a major or even a minor major miner it would be good to be a minor major shareholder.
Must be friday:)

Your majorly right, Major!

[Toasty]

Wow I finally got your name Major!

[Dej]

Wow I finally got your name Major!

:mellow: am I missing something...

[Minerbarejet]

:mellow: am I missing something...
havent you made your bed yet.:)

[Dej]

havent you made your bed yet.:)

:cool: ooooooooooooooooooooooooooh!

[bullish]

this just in reading announcement now.......these guys have been beavers........
Talisman Mine Maiden Ore Reserve Statement
-28,800 Oz Gold and 127,800 Oz Silver Ore Reserve for start-up phase of the mine development underpinned by Pre-feasibility Study

- Analysis of Pre-Feasibility Study Conducted by International Consultancy
Metallurgical Testwork and sampling

-Recovery of visible physical gold and silver from metallurgical samples using nonchemical extraction equipment recently purchase

-Recent samples of Talisman ore tested by SGS showed up to 453g/t gold which was processed.

[Minerbarejet]

Pshaw thats only 40 million. how about that eh moosie. We await further developments:):):):):)

[Minerbarejet]

dear lord that is an absolutely massive g/t reading!!!
Better get in fast in the am moosie IMHO

[Minerbarejet]

craziness. where is this announcement? not showing up on my DB account... Go to the Talisman site
It was on ASX then went off - never showed up on NZX
Maybe its not supposed to be out until tomorrow. Dont forget they already had one announcement today

[Minerbarejet]

never mind I found it. I think we still have awhile to wait before NTL starts jumping. in normal times this announcement would be a catalyst for a big rise, but I have the feeling the market is, yet ahain, going to pass this by. not until we start producing and the money starts flowing will others realise. those are some pretty massive numbers though! goid on the team for their hard work and have some great news to take to the AGM!
Where I will be - all going well. Cheers Moosie

[Minerbarejet]

Yeah thanks Bullish

[Minerbarejet]

lmao stupid "smart" phone!Bit of technology overload is it, Moosie?

[bullish]

Go to the Talisman site
It was on ASX then went off - never showed up on NZX
Maybe its not supposed to be out until tomorrow. Dont forget they already had one announcement today

yeah was on asx

[Minerbarejet]

yeah was on asxyes cant figure that out as to why it would be posted at 3.40 or so on the ASX, make a brief cameo appearance and disappear to be replaced with meeting stuff that was there originally.Oh well all good news anyway-watch this space today- maybe

buyers piling in -somebody has lit the fuse:):)
sellers pulling out

[Crow]

Watching.....watching....:t_up:

[Crow]

:eek2:Wow! Now let's see how the day ends and whether NTL gets a bigger profile.

[Minerbarejet]

bit of support in oz with a big gap in the sellers

[nextbigthing]

Up 50% already. Free cave brewed pilsner for everyone I guess.

[GRIFFIN]

1.8 cents is dirt cheap for this junior if you are in for the long haul as it will get some major traction when extraction gets under way. Not to sure how long it will take though, so whats the bet this time next week it will be back around 1.2 cents.Good to see some positive action all the same.

[bullish]

1.8 cents is dirt cheap for this junior if you are in for the long haul as it will get some major traction when extraction gets under way. Not to sure how long it will take though, so whats the bet this time next week it will be back around 1.2 cents.Good to see some positive action all the same.


LOL another backhanded compliment from the bitter man himself.

C'mon when are you actually going to give these guys a clap instead of a slap. Long haul.... your judgement of time differs from mine as they set out their timeline and appear to be rocking on. It seems it has been all action for a year.

While GEL loses its way and stops all mining and reverses back to explorer, others worldwide have delisted shut down and otherwise sat on shareholders funds. The NTL managment have progressed in such a market. My view is those who can progress like this in a difficult headwind will benefit greatly for shareholders.

Go for gold boys

[bullish]

JUST OUT ON ASX

WOOHOO!!!. AM I READING THIS RIGHT?????? 1 cent!!!!

New Talisman Gold Mines Limited is pleased to announce that it is giving shareholders theopportunity to participate in the company’s capital raising program in the form of a Share Purchase
Plan (SPP).
The SPP will provide shareholders resident in New Zealand or Australia (eligible shareholders) on
4 September 2013 (the record date) the opportunity to subscribe for shares up to NZ$15,000, or
Australian $12,600 in total or in lots of NZ$1,000 or Australian $900.
New Talisman has decided that the SPP is not able to be made to shareholders who are resident
in other countries so as to avoid breaching laws in the relevant jurisdictions. New Talisman, in
making this decision, has taken into account the small number of overseas shareholdings within
holders not resident in New Zealand or Australia.
The issue price will be NZ 1.0 cent or AU 0.86 cent.
The issue price has been calculated by taking the volume weighted average price of New Talisman
shares traded on the NZX Main Board over the 5 trading days prior to the offer date and discounting
this price by 9%. The Australian dollar equivalent has been calculated by converting the NZ dollar
issue price to Australian currency using the Westpac bank exchange rate applicable at close of
business on 4 September 2013 which is 0.8578.
Funds raised from the SPP will be used to initiate underground bulk sampling and evaluation at
New Talisman Mine in Karangahake (including mining and processing options, safety and
environmental requirements and relevant consents) and for working capital.
The SPP documents will be mailed to shareholders on 10 September 2013.

[hilskin]

They should have released that this morning before the market opened. I would be a little disappointed if I'd picked up some shares at today's prices. Luckily my buy order wasn't taken up this morning.

[Minerbarejet]

wake me when it gets to 10 cents

[Toasty]

Its almost back where it started. Disappointing really.

[VinPetrol]

Yeap, disappointed I am indeed. Been meaning to buy in for a couple months now, finally have some spare $s and I end up cannon fodder for this morning.. Ah well, I guess you could say I'm getting an education haha.

[Toasty]

Yeap, disappointed I am indeed. Been meaning to buy in for a couple months now, finally have some spare $s and I end up cannon fodder for this morning.. Ah well, I guess you could say I'm getting an education haha.

Don't feel bad. I got similarly excited a few months ago and got a clump at .025. Not a big investment but annoying. I would like some more though. Something about owning a gold mine....

[robbo24]

They should have released that this morning before the market opened. I would be a little disappointed if I'd picked up some shares at today's prices. Luckily my buy order wasn't taken up this morning.

Didn't NTL say they didn't need to do a further capital raising because they were going to raise money via their test ore?

[robbo24]

Didn't NTL say they didn't need to do a further capital raising because they were going to raise money via their test ore?

Oh wait, nevermind. Foolish me for not reading pages 7 & 17 of the Annual Report (https://www.nzx.com/files/attachments/177255.pdf):


19. GOING CONCERN
The financial report has been prepared on a going concern basis. The company raised A$543,510 less expenses since balance date and is planning further capital raising. The directors expect to hold sufficient funds to ensure that financial obligations can continue to be met for longer than 12 months.


Although this is kind of inconsistent with page 3 of the same report:



Pre-Feasibility Study
The Pre-Feasibility Study was completed in March 2013. It analysed a range of options centred on the concept of a small scale operation with low capital requirements that would generate, over time, the funds required to explore and open up future mining areas. The operation would focus on the high confidence resources, immediately adjacent to the accessible 8 level drive, delineated during the 2005 exploration program and create the infrastructure necessary to support further exploration activity.

Wish I had sold at 1.8c this morning now...

[bullish]

I continue to chuckle when I read I hope they dont dilute us. How do you think mining will get funded??

When SPP or any other issues are announced

Shareprice drops
Fund are raised
Funds applied
Mining begins
Major buys us all beers and sails off in his new superboat or decks out his cave.........

Dilution only matters where holders dont participate or the money gets wasted. For what has been achieved in 12 months I am confident they will bring it home.

Lets see what SPP doc says. Ill be taking up all I can thats for sure.

At 1 cent this is a cheap entry to a high grade small producer which at those grades beats anything else out there in NZ.

Major did you get your mine visit organised? Let me know as I would be keen to get a look in.

Moosie you mentioned previously that you dont like SPP's at market price well these guys did it at a huge discount to todays trading here and in Aus and a big discount to 30 day vwap. Its a gift in my view.

DYOR
Holding NTL, NTLO, NTLOA

[Minerbarejet]

no reply from Ntl sofar - I'd wager they have been a bit busy after the last few days so if I dont get an answer before the meeting I'll have a chat there about it. Will keep you posted.:)

[VinPetrol]

Don't feel bad. I got similarly excited a few months ago and got a clump at .025. Not a big investment but annoying. I would like some more though. Something about owning a gold mine....

Cheers for that. I needed a little perspective, definitely not the end of the world!

just got to me a little bit that if I had pulled trigger yesterday or held off until this afternoon I'd be in a better position either way!

Bit ticked about the announcement being in the middle of the next day after the record date though
:\ I don't even get the chance to average down my position in the spp.

[nextbigthing]

:\ I don't even get the chance to average down my position in the spp.

Not quite true. ASB is showing only one buyer at 0.007 at the moment! So you will likely get your chance to average down this way.

Excellent choice of name by the way. Good laugh.

Disc: Hold NTL. Have done since they were spectrum resources and I was knee high to a grasshopper!

[Minerbarejet]

I guess VanDiesel is cheaper than Vinpetrol,

lol, good name:)
And welcome to sharetrader, Ntl and have fun

[Dej]

Jesus, missed some stuff yesterday it seems! Unfortunately I'm not going to be home in time to be able to take part in the share purchase plan... :t_down:

Is it possible to complete electronically?

[blackcap]

Article in this morning's stuff

http://www.stuff.co.nz/business/industries/9132069/Greens-Gorge-gold-mine-inappropriate

I like this bit in particular:

But Green Party mining spokeswoman Catherine Delahunty said Talisman, formerly Heritage Gold, "have been hanging round the Coromandel for many years and have never really done a hell of a lot".

Don't get your hopes up people. As Moosie says.. its a looooonnnnngggg term thing :)

[Minerbarejet]

there will still be gold in the hills long after the greens are gone which wont be much longer the way things are going.
You could say Ms whatzername has been hanging around NZ for many years without doing a hell of a lot. I might be in a cave but I will not be wearing sandals, sackcloth because of some bunch of halfbaked halfwits determined to get up everybodys noses for their own self glorification.And all done under the pretense of assisting the planet.
Must be friday:)

[elZorro]

At least we have a better idea on the timeline to serious mining. If talks with Newmont Waihi work out, this will be a huge boost to the company, because the amount of capital involved should be quite small, and the distance to Waihi is quite short. Even to get to the bulk sampling stage will require the mine to be opened up, the extraction equipment and some initial processing gear to be installed. So when we hear about equipment being designed or purchased, we'll know it's all on. I think the greens will have some difficulty stopping a small operation in a previous mine, in the middle of mining country.

[Flugenbear]

Indeed Moosie. The uncertainty around the resource consent is the only thing stopping me getting in...
You'd think it a given...as ElZ points out we are in the middle of mining country and the area has been mined in the past for decades...
But the bureaucratic nonsense and red tape that has emerged the last decade or so makes me think twice...especially now that this area is very popular with hikers/day walkers and is in fact a rather pleasant and well used area..NTL will have to get the application right and prove there will be no or minimal affect on the current environment...
I wish them well, but I sense this might drag on....perhaps there is a rare beetle that might get disturbed....

[bullish]

Article in this morning's stuff

http://www.stuff.co.nz/business/industries/9132069/Greens-Gorge-gold-mine-inappropriate

I like this bit in particular:

But Green Party mining spokeswoman Catherine Delahunty said Talisman, formerly Heritage Gold, "have been hanging round the Coromandel for many years and have never really done a hell of a lot".

Don't get your hopes up people. As Moosie says.. its a looooonnnnngggg term thing :)

Yeah your sooooo right blackcap....NOT

Pretty well done sweet f all in the last 12 months



Scoping study
Pre feasibility study
Mine upgrade
Started Feasibility study
2 sampling programs showing amazing grades one like 1% gold
2 placements and a rights issue at 1.1C AUD and even after dilution stayed thereabouts raising 2+M underwritten by Cannacord each time only dropping today to meet SPP price which is as moosie pointed out what SPPs do.
Set up seperate exploration co for their northland asset and others
Attracted key managment team
Invested in African gold project they still have loan and equity in for upside
Had Prefeas independently reviewed by Hatch Goba
Put out the maiden reserve
Purchased equipment to do flotation testwork
Completed the required work to put an SPP together at a generous discount.


......in a market which has been easy for all miners just look at GEL.

Come on NTL get a wriggle on and stop being lazy.....lol

[blackcap]

I have been following this company since 1999 and in that time they have done zilch as far as I am concerned. Plenty of rhetoric. Why would now be any different?

I guess the SP says it all really.

[Master98]

Their jobs are writing few bullish reports per year, and let shareholders and investors throw money to keep those directors camping and hiking lifestyle .

[blackcap]

did you just read the summary by bullish or not there blackcap???

I did Moosie, but I remain skeptical. I have heard it before ad-nauseam. That summary does not impress me at all. Master98 may be onto something there. Just look at the 15 year chart. That is all I need to know.

[bullish]

I did Moosie, but I remain skeptical. I have heard it before ad-nauseam. That summary does not impress me at all. Master98 may be onto something there. Just look at the 15 year chart. That is all I need to know.


Really???? ad-nauseam. Maiden Reserve has a meaning...as does PFS etc ...lmfao

Im sure your chart shows where you've been. The PFS and work delivered by NTL this year shows where they are aiming to head.

DYOR

[blackcap]

Cheers Bullish,

I have done my own research and am not yet interested. I will be once NTL do something tangible. There are many more exciting places to be. I would rather buy on the way up at say 2.5 cents (or even more) once NTL have done something and show some intent not with words but with deeds. I got out of here a long time ago and am thankful I did. But good luck to them and you, I really hope it works out. Maiden reserve and PFS... please explain what do they actually mean? Plenty of greenies in that area of the country to stop NTL for years if they so wished. Not for me at this point thank you.

[elZorro]

The newer NZPAM permit maps show NTL's Golden Valley permit is quite large, EP40-736 has another 2 years to run, and there will need to be some drilling done. It's just to the east of Waihi, and GEL's WKP permit is shown in the top of the same map.

http://data.nzpam.govt.nz/PermitWebMaps/Home/StaticMap?permit=40736

And it's still there in the Talisman mine.

http://www.contrafedpublishing.co.nz/QM/A+prospectors+vision.html

[Minerbarejet]

Sorry guys/ guyesses no word from ntl on a mine visit as yet. We await developments.

[bullish]

Gents

Looks like if SPP gets done we are on!!!


New Talisman chairman outlines project plans
11 September 2013
A letter sent by Murray McKee, chairman of New Talisman Gold Mines Ltd (NZX & ASX: NTL) has explained to shareholders the reason behind a share purchase plan (SPP) announced last week.
He said the company’s progress in recent months have included an access road to the Talisman mine site at historic Karangahake near Waihi, and completed a pre-feasibility study on mining.
“We have also advanced negotiations with the regulatory agencies on the terms and conditions of the resource consents necessary to operate the mine and the provisions of the land access arrangements.
“We expect to be in a position to announce the final terms and conditions shortly,” he added.
Under the SPP, shareholders can take up shares to the value of $NZ15,000 (or $A12,600) each. The issue price of the SPP has been set at NZ 1 cent per share, or A0.86 cent for Australian shareholders.
McKee said funds raised from the SPP will be used to:
Iinitiate underground bulk sampling and evaluation at New Talisman, including mining and processing options.
Safety and environmental requirements and relevant consents.
To fund working capital requirements.
The historic mine previously produced a total of 1 million ounces of gold and 3 M oz of silver.
McKee said the first phase of mining would establish a low-impact, small scale operation extracting the high grade ore adjacent to the mine’s accessible 8 Level drives.
This would generate cash flow, to support further exploration activities for additional ore resources to support future mine expansion.
A mine plan which takes advantage of the flexibility provided by independent resource blocks and offers resilience in the event of ongoing price volatility
The target would be to achieve annual gold output of 12,115 oz Au and 36,000 oz Ag within four years
Studies have indicate mine production costs of $US588/oz gold and total cost, inclusive of capital requirements, of US$1,075/oz – “well below current prices.”
He said a capital requirement of NZ$1.5 M initially - based on current information - is expected to be sufficient to become self-funding. A total of $NZ5.4 M phased over 3 years could take advantage of internally generated cashflow.
The chairman said based on the output from the pre-feasibility study, this phase was expected to deliver more than $NZ50 M in revenue and a cash surplus exceeding $NZ20 M over 5 years.

[elZorro]

I have received the SPP offer documents (http://www.newtalismangoldmines.co.nz/wp-content/uploads/2013/09/SX-100913-SPP.pdf). Note to management, it was raining inside my letterbox , it would have been better sealed in plastic.

We are each invited to cough up a maximum of $15,000 for some new shares at 1c. Is this a good deal? Note that only 100 shareholders deciding to take up the full offer will meet the $1.5mill needed to be self funding in gold recovery from then on, if everything goes to plan.

The grade of the ore that will be pulled out will average 12 g/tonne. If they mean that there will be little waste ore, this makes a lot more sense than the GEL operation at Drybread, something that I have to admit up front, cost me plenty.

At Drybread, where they also used mechanical methods to concentrate the gold, the grade was more like 0.4g/m3, or 0.2 g/tonne. They had to dig several metres down to find the 0.5mtr wash layer. It became an exercise in futility with small-scale gear and some untrained staff.

NTL thus has a huge advantage. They can follow the veins, leave all the rubbish metal underground, so they only need to use skilled operators with small-scale equipment, and link up with Newmont, who as a large gold producer looking to extract some more cashflow in the meantime, must be the party they are talking to.

They will be pulling out 650 tonnes a month of ore, at 12g/tonne it's 250oz of gold a month, over $400,000 p.m or $5mill a year. At a polite 40hr week, the extraction is about 3.6 tonne an hour, or 1.5 m3 an hour. This doesn't seem too daunting. They'll need to transport about 30 tonnes a day to Waihi. Also not too hard. One truckie, one on a digger part-time, two inside the mine? They might be first concentrating the ore at the mine itself, in which case my figures would be wrong. A lot less transport costs, but more equipment costs. With high grades I'm not sure why they would bother. Unless they need to feed the material in well up the chain at Newmont's mill.

I will be tempted to free up $15,000 to check the investment out. New Talisman might be hoping the slide in the gold price doesn't continue, because at the moment I can buy shares on market for about the same price as the offer. This won't help their coffers. But there is no future incentive with the offer (like a fixed price warrant with an expiry date of 2 years or so). The closing date is just 25-26th Sept. There is helpfully a direct credit bank account number, ready for the funds.

If it was my bank account waiting for a topup, I'd be putting out some good news quite soon.

[digger]

I have received the SPP offer documents (http://www.newtalismangoldmines.co.nz/wp-content/uploads/2013/09/SX-100913-SPP.pdf). Note to management, it was raining inside my letterbox , it would have been better sealed in plastic.

We are each invited to cough up a maximum of $15,000 for some new shares at 1c. Is this a good deal? Note that only 100 shareholders deciding to take up the full offer will meet the $1.5mill needed to be self funding in gold recovery from then on, if everything goes to plan.

The grade of the ore that will be pulled out will average 12 g/tonne. If they mean that there will be little waste ore, this makes a lot more sense than the GEL operation at Drybread, something that I have to admit up front, cost me plenty.

At Drybread, where they also used mechanical methods to concentrate the gold, the grade was more like 0.4g/m3, or 0.2 g/tonne. They had to dig several metres down to find the 0.5mtr wash layer. It became an exercise in futility with small-scale gear and some untrained staff.

NTL thus has a huge advantage. They can follow the veins, leave all the rubbish metal underground, so they only need to use skilled operators with small-scale equipment, and link up with Newmont, who as a large gold producer looking to extract some more cashflow in the meantime, must be the party they are talking to.

They will be pulling out 650 tonnes a month of ore, at 12g/tonne it's 250oz of gold a month, over $400,000 p.m or $5mill a year. At a polite 40hr week, the extraction is about 3.6 tonne an hour, or 1.5 m3 an hour. This doesn't seem too daunting. They'll need to transport about 30 tonnes a day to Waihi. Also not too hard. One truckie, one on a digger part-time, two inside the mine? They might be first concentrating the ore at the mine itself, in which case my figures would be wrong. A lot less transport costs, but more equipment costs. With high grades I'm not sure why they would bother. Unless they need to feed the material in well up the chain at Newmont's mill.

I will be tempted to free up $15,000 to check the investment out.

Thanks for your cals el Zorro. I too lost in GEL but it was risk capital and I came in at 11 cents just after the last cash raising in Canada at 16 cents Canadian. I thought I was safe, in fact when I put in the bid I did not expect to get the order. Still that company is now mostly forgotten now and maybe you should as well.
Back to NTL. Yes it looks very different and for me just down the road. We often walk or bike those trails. Just received my offer today and with a quick glance will likely be in for the lot--but just a bid early for now to say.
Cheers and hope you make some money on next venture.

[elZorro]

Thanks for your cals el Zorro. I too lost in GEL but it was risk capital and I came in at 11 cents just after the last cash raising in Canada at 16 cents Canadian. I thought I was safe, in fact when I put in the bid I did not expect to get the order. Still that company is now mostly forgotten now and maybe you should as well.
Back to NTL. Yes it looks very different and for me just down the road. We often walk or bike those trails. Just received my offer today and with a quick glance will likely be in for the lot--but just a bid early for now to say.
Cheers and hope you make some money on next venture.

Cheers for the comments Digger. GEL was certainly an experience. It was amazing/criminal/shocking/expletive how badly informed the market was about that operation in the last few months. We still have no idea what Newmont really think of WKP, which is why I'm watching their (now very small) MCap with interest. The company is ripe for the taking, probably by Geoff Loudon.

Based on a conservative gold price of US$1200/oz, the cumulative cashflow at Talisman should never get worse than $1.5mill negative (9 months in), and within 24 months will be at plus $2.5mill. This means that all the capital equipment for the sampling operation will be paid off too, I assume. That's significant for a company like NTL. GEL couldn't do it, but I think NTL will. Gold might even ramp up from here, and they could find some new hot-spots like BM37. It has to be better than sitting back and looking at the idea.

Thanks for the advice on the options (https://nzx.com/companies/NTL/announcements/230359) Moosie, I didn't figure that one out. Lightly traded, but valid for share purchases at 2c until well into 2017, that's kinda tempting if one hopes that gold sales will provide the bulk of the funding down the track.

[Minerbarejet]

Anyone else going to the AGM on thursday? Is there parking around that area?
See you there
cheers:)

[bullish]

I have received the SPP offer documents (http://www.newtalismangoldmines.co.nz/wp-content/uploads/2013/09/SX-100913-SPP.pdf). Note to management, it was raining inside my letterbox , it would have been better sealed in plastic.

We are each invited to cough up a maximum of $15,000 for some new shares at 1c. Is this a good deal? Note that only 100 shareholders deciding to take up the full offer will meet the $1.5mill needed to be self funding in gold recovery from then on, if everything goes to plan.

The grade of the ore that will be pulled out will average 12 g/tonne. If they mean that there will be little waste ore, this makes a lot more sense than the GEL operation at Drybread, something that I have to admit up front, cost me plenty.

At Drybread, where they also used mechanical methods to concentrate the gold, the grade was more like 0.4g/m3, or 0.2 g/tonne. They had to dig several metres down to find the 0.5mtr wash layer. It became an exercise in futility with small-scale gear and some untrained staff.

NTL thus has a huge advantage. They can follow the veins, leave all the rubbish metal underground, so they only need to use skilled operators with small-scale equipment, and link up with Newmont, who as a large gold producer looking to extract some more cashflow in the meantime, must be the party they are talking to.

They will be pulling out 650 tonnes a month of ore, at 12g/tonne it's 250oz of gold a month, over $400,000 p.m or $5mill a year. At a polite 40hr week, the extraction is about 3.6 tonne an hour, or 1.5 m3 an hour. This doesn't seem too daunting. They'll need to transport about 30 tonnes a day to Waihi. Also not too hard. One truckie, one on a digger part-time, two inside the mine? They might be first concentrating the ore at the mine itself, in which case my figures would be wrong. A lot less transport costs, but more equipment costs. With high grades I'm not sure why they would bother. Unless they need to feed the material in well up the chain at Newmont's mill.

I will be tempted to free up $15,000 to check the investment out. New Talisman might be hoping the slide in the gold price doesn't continue, because at the moment I can buy shares on market for about the same price as the offer. This won't help their coffers. But there is no future incentive with the offer (like a fixed price warrant with an expiry date of 2 years or so). The closing date is just 25-26th Sept. There is helpfully a direct credit bank account number, ready for the funds.

If it was my bank account waiting for a topup, I'd be putting out some good news quite soon.

Agree El Z

While I understand that some here were a little disappointed at the release of in my view great news just prior to SPP those sexy fun loving major superyacht buying grades were really uplifting and show something..... As the moose pointed out SPP pricing is a target following release. In my view based only on their last 3 or 4 raisings where even with market at 1.1c Aus they put it away and we got none of it. Surely that was during a higher risk stage ie pre PFS. I find this to be a generous offer to shareholders. These guys seem good at getting placements away and at 1 cent NZ for which the price dropped from 1.7 or 1.8 back to 1 it doesnt take much for this little goer to rock n roll.

In a climate where others you mention are effectively a shell and a second board shell at that, these guys made a high risk call to drive forward in a very very hard market. each needs to make their own call but in looing at how these guys communicate they only do so factually. Anyone else going to the AGM. Im keen to meet the Exec and mining guy they have chnaged what this company was. Recent media sounded positive in miningnew etc.

Good luck getting the options at one stage they were trading at 1.7cents NZ in parity with share price.......long term but good levergae if you can get em.

What does every one else think now they have the SPP documentation?. For what I have recieved over the years it was a good read.

I cant find anywhere else these grades for this price.....it aint big but its just the start dont forget they have Rahu, Golden Valley, Northland etc.......if they get this away im looking forward to free tui's from Major for life or mossie who already is about to have to make a takeover with his holding.

[blackcap]

If its all so great why is the SP at an all time low of .9? To me that says that the investing public are still very skeptical about this company and their rhetoric. They are waiting for action rather than words I think.

[Frankenstein]

Is anyone on here trying to pick up more at 0.9? Seems like it could be a steal compared to spp of 1.0

[elZorro]

If its all so great why is the SP at an all time low of .9? To me that says that the investing public are still very skeptical about this company and their rhetoric. They are waiting for action rather than words I think.

Perhaps the company is a bit conservative with their actions, sometimes that's a good thing. Word on the street is that New Talisman is waiting for the funds to turn up in the coffers before they talk more seriously with suppliers of goods and services later in 2013. So the NTL board are waiting for action from shareholders, they want to see how committed they are. Shareholders will be thinking about dilution. The big plus with this particular mining operation is the grades involved.

Grade is king. One block of the ore that is marked for initial extraction (along with three others to make up an average grade of 12 g/tonne) is a cubic volume of about 25m x 25m x 25m (23,000 tonne). The grade is shown as 38.3g/tonne, and at say NZ$1500/oz, that is over $40mill of gold. So the only issue is - how hard will it be to extract that ore from the mine tunnels. Even if the price of gold drops a bit, that initial cashflow is what the company needs for future expansion, and to minimise dilution for shareholders.

[Dej]

As am I moosie! As am I...

I think MajorMiner may have some plans too!

Earlier this year I mentioned a get together once mining commences, offer still stands!

[blackcap]

looking to buy anything below 1 cent. will be making a takeover attempt late 2014 once mining commences ;)

the market is ignoring NTL as it has been listed for so long that it makes FBU and TEL look young! now that things are really getting going, the market maintains its skepticism and the smart money buys in. it is in this climate that 5, 10, 20 baggers are made. I am hoping to buy my first apartment/house based on NTL winnings if all goes right :)

I do not disagree with your sentiments there Moosie. 5,10,20 baggers are made on things like that. But why are you so convinced that NTL is going to be the one. Does their track history not worry you one bit?

[hilskin]

as at 15:17:29, Tuesday 17 September, 2013 (NZT)
MINE: NTL: Talisman First Gold Recovery
NTL
17/09/2013 15:17
MINE

REL: 1517 HRS New Talisman Gold Mines Limited

MINE: NTL: Talisman First Gold Recovery

17 September 2013
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
FOR IMMEDIATE RELEASE

- FIRST GOLD RECOVERED FROM METALLURGICAL SAMPLES
- HIGH GRADE ORE ALLOWS FOR NON CHEMICAL RECOVERY METHODS

New Talisman Gold Mines Limited ("NTL"), today announces the first recovery
of gold from its Talisman gold mine as part of its metallurgical sampling as
a precursor to bulk sampling ramp up and test work. This was recovered
utilising state of the art non chemical extraction methods.
Talisman is an important gold resource for New Zealand and was in the past a
prolific gold producer and employer having produced 1 m oz of gold
historically, in a gold region which has produced over 8m oz of gold.
GOLD RECOVERED FROM METALLURGICAL SAMPLING
Metallurgical test work investigated a suitable floatation and gravity
recovery method of extracting gold from ore samples. The company tested 146
kg of very finely ground ore and has produced approximately 3 ounces of gold
and silver. Further concentrates will be used for more test work to evaluate
the most effective recovery rates.
Sample Collection
Hand selected samples were collected from the Talisman stockpile in bags of
approximately 8kg each. Samples were classified into rock types and an
example of each type retained for identification purposes. Samples were then
processed at the SGS Waihi laboratory being crushed and pulverised before
passing through a 50 micron screen (approximately the same grain size as
cement). The pulverised product was then thoroughly mixed and a
representative sample taken for assay purposes.
Lower grade samples were discarded as the equipment is not sensitive enough
to record micro gram recovery levels. The assay results of the samples
selected for processing are tabulated below and a photographic record of
examples of those samples is shown in the table - see pdf attached.

Primary Concentrating

This testwork relied heavily on wet gravity separation to remove the clay and
other light minerals from the heavier electrum and sulphide minerals. It was
found to be important to pass as clean a concentrate as possible through the
final concentrator as the equipment relies on recirculating water and excess
clay was kept in suspension causing cloudy water to be passed back through
the separator bowl.
In order to float out the clay approximately 2.5kg at a time of the sample
was added to a bucket along with 3 litres of water and a small amount of
surfactant to break surface tension and prevent fine gold particles being
washed away. The mixture was stirred thoroughly to move the clay into
suspension and then allowed to settle for a minute. Approximately 2/3rd of
the liquid was then decanted and the process repeated until rapid settling
was attained. It was found that, on average and dependant on the grade of the
sample, a 7kg sample could be concentrated to approximately 160g of material
which was then passed through the final concentrator.

Matthew Hill, Executive Director, said "whilst this is a small amount of
gold, in the larger scheme of things it is key to demonstrating our fuller
understanding of the effectiveness of our extraction method options. Without
unnecessary expenditure and use of chemicals, we have identified a number of
manufacturers to scale up the treatment options allowing for concentration
and extraction, prior to any toll treatment driving early revenues to the
company."
ABOVE: THE GOLD LAB UTILISING GRAVITY AND FLOTATION - resulting gold
recovered
"These are the first ounces recovered from the Talisman ore since New
Talisman owned the permit and show the huge strides the company has made its
final steps toward bulk sampling for which final approvals are underway. We
have found nothing but support from shareholders and the wider community."
Following initial test work we expect to be able to recover up to 30 oz gold
per month using existing samples, while initiating precursor work toward bulk
sampling.

Matthew Hill
Executive Director
New Talisman Gold Mines Limited
+64 9 303 1893

[whatsup]

as at 15:17:29, Tuesday 17 September, 2013 (NZT)
MINE: NTL: Talisman First Gold Recovery
NTL
17/09/2013 15:17
MINE

REL: 1517 HRS New Talisman Gold Mines Limited

MINE: NTL: Talisman First Gold Recovery

17 September 2013
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
FOR IMMEDIATE RELEASE

- FIRST GOLD RECOVERED FROM METALLURGICAL SAMPLES
- HIGH GRADE ORE ALLOWS FOR NON CHEMICAL RECOVERY METHODS

New Talisman Gold Mines Limited ("NTL"), today announces the first recovery
of gold from its Talisman gold mine as part of its metallurgical sampling as
a precursor to bulk sampling ramp up and test work. This was recovered
utilising state of the art non chemical extraction methods.
Talisman is an important gold resource for New Zealand and was in the past a
prolific gold producer and employer having produced 1 m oz of gold
historically, in a gold region which has produced over 8m oz of gold.
GOLD RECOVERED FROM METALLURGICAL SAMPLING
Metallurgical test work investigated a suitable floatation and gravity
recovery method of extracting gold from ore samples. The company tested 146
kg of very finely ground ore and has produced approximately 3 ounces of gold
and silver. Further concentrates will be used for more test work to evaluate
the most effective recovery rates.
Sample Collection
Hand selected samples were collected from the Talisman stockpile in bags of
approximately 8kg each. Samples were classified into rock types and an
example of each type retained for identification purposes. Samples were then
processed at the SGS Waihi laboratory being crushed and pulverised before
passing through a 50 micron screen (approximately the same grain size as
cement). The pulverised product was then thoroughly mixed and a
representative sample taken for assay purposes.
Lower grade samples were discarded as the equipment is not sensitive enough
to record micro gram recovery levels. The assay results of the samples
selected for processing are tabulated below and a photographic record of
examples of those samples is shown in the table - see pdf attached.

Primary Concentrating

This testwork relied heavily on wet gravity separation to remove the clay and
other light minerals from the heavier electrum and sulphide minerals. It was
found to be important to pass as clean a concentrate as possible through the
final concentrator as the equipment relies on recirculating water and excess
clay was kept in suspension causing cloudy water to be passed back through
the separator bowl.
In order to float out the clay approximately 2.5kg at a time of the sample
was added to a bucket along with 3 litres of water and a small amount of
surfactant to break surface tension and prevent fine gold particles being
washed away. The mixture was stirred thoroughly to move the clay into
suspension and then allowed to settle for a minute. Approximately 2/3rd of
the liquid was then decanted and the process repeated until rapid settling
was attained. It was found that, on average and dependant on the grade of the
sample, a 7kg sample could be concentrated to approximately 160g of material
which was then passed through the final concentrator.

Matthew Hill, Executive Director, said "whilst this is a small amount of
gold, in the larger scheme of things it is key to demonstrating our fuller
understanding of the effectiveness of our extraction method options. Without
unnecessary expenditure and use of chemicals, we have identified a number of
manufacturers to scale up the treatment options allowing for concentration
and extraction, prior to any toll treatment driving early revenues to the
company."
ABOVE: THE GOLD LAB UTILISING GRAVITY AND FLOTATION - resulting gold
recovered
"These are the first ounces recovered from the Talisman ore since New
Talisman owned the permit and show the huge strides the company has made its
final steps toward bulk sampling for which final approvals are underway. We
have found nothing but support from shareholders and the wider community."
Following initial test work we expect to be able to recover up to 30 oz gold
per month using existing samples, while initiating precursor work toward bulk
sampling.

Matthew Hill
Executive Director
New Talisman Gold Mines Limited
+64 9 303 1893



YUPPIE, the first gold that I can recall of my 26 years of investing in this company, maybe just maybe we could see some of it at this years AGM , hmmmmmm !

[Minerbarejet]

YUPPIE, the first gold that I can recall of my 26 years of investing in this company, maybe just maybe we could see some of it at this years AGM , hmmmmmm !All good, this is A1, digger and I are looking forward to the AGM. You should all be there .:)

[robbo24]

All good, this is A1, digger and I are looking forward to the AGM. You should all be there .:)

So what's to stop us just going up there and taking a car boot full of these stockpiled gold-rocks and driving off?

[digger]

So what's to stop us just going up there and taking a car boot full of these stockpiled gold-rocks and driving off?

That is a question I need answering before I buy into the SPP. Even better is What is to stop the management getting together and doing the same thing. Most theft is an inside job. Even if they get caught the fine is a few thousand and they get away with millions. Where is the security is my first question and I certainly am not interested in---You can trust me.

[Minerbarejet]

That is a question I need answering before I buy into the SPP. Even better is What is to stop the management getting together and doing the same thing. Most theft is an inside job. Even if they get caught the fine is a few thousand and they get away with millions. Where is the security is my first question and I certainly am not interested in---You can trust me.This could be an interesting meeting:)

[hilskin]

Meeting is tomorrow



NTL (https://www.nzx.com/companies/NTL)
AGM
19 Sep 2013
11.00am
545 Parnell Road
Parnell
Auckland

[hilskin]

LOL, I was just worried someone might turn up today. Trying to decide if I'll go or not

[digger]

LOL, I was just worried someone might turn up today. Trying to decide if I'll go or not


hilskin,I am making the effort you and others should to. NTL is at a deciding moment in its very long history,at the cross road if you prefer it said that way. Definitely a deciding AGM. I will go even though I want to see the A cup become the NZ cup once more.
As I mentioned in post 728 I will ask that NTL put the gold security arrangements in writing so that we and the authorities can have some way of tracking what might be going on. Gold has a long history of bring out the worst in people and product security must be made upper most in investers perception.
I am sure the meeting will also bring up other issues. After the meeting I will decide the level of financial commitment I will make towards the SPP.

[robbo24]

https://www.nzx.com/files/attachments/181986.pdf

Dear NTL,

I haven't read through the investor presentation yet because I am transfixed by the first page.

This image is corny, unprofessional and should have been omitted from the presentation.

Please adhere to modern standards of sleek, intuitive Powerpoint design.


Regards,

Robbo 24

[Crow]

lol. I saw it and thought oh no and moved on, lol. Yes very corny.


https://www.nzx.com/files/attachments/181986.pdf

Dear NTL,

I haven't read through the investor presentation yet because I am transfixed by the first page.

This image is corny, unprofessional and should have been omitted from the presentation.

Please adhere to modern standards of sleek, intuitive Powerpoint design.


Regards,

Robbo 24

[Snow Leopard]

https://www.nzx.com/files/attachments/181986.pdf

Dear NTL,

I haven't read through the investor presentation yet because I am transfixed by the first page.

This image is corny, unprofessional and should have been omitted from the presentation.

Please adhere to modern standards of sleek, intuitive Powerpoint design.


Regards,

Robbo 24

Very badly done, absolutely horrible, I would not invest in them on this alone. :D

I think that the yellow hills in the background are at Sausalito. I used to take the ferry across to there, buy a sandwich and drink at a very nice dellie there and then walk back to SF across the bridge and through the parks.

Best Wishes
Paper Tiger

[blackcap]

Why buy in NZ at 1.1 when you can buy these shares in Australia at 1.02c?

[robbo24]

Why buy in NZ at 1.1 when you can buy these shares in Australia at 1.02c?

SPP is 1 cent ea.

Also, buying in Aus attracts more brokerage costs if buying in NZ.. For people buying a few hunge it's probably not worth it..

[Landyman]

Whats the word on the street, any meeting attendees online yet? Is the SPP a go-er at 1c, or should I except my diltuion?

[whatsup]

robbo,crow,tiger,moosie, From your comments I take it that you were not at todays meeting, yes it was a small gathering , some 20-25 s hers , but good questions were asked and answered, a reasonable presentation was presented by the newly appointed Sth African mining engineer who is entheuastic about getting this mine to production over the next 8-12 months money permitting.
From questions asked they will need a minium of $1.5 mil, which should net be too hard as the easiest ore to mine has a content of some 23+gms per toone, a high gold and a low cost extraction process which will enable the company to get to the next level of production around 13 gms/t.
If all goes well the SPP could be a very cheap entry price in 2-3 years time.

[robbo24]

the easiest ore to mine has a content of some 23+gms per toone, a high gold and a low cost extraction process

So... .75 ounces per tonne is the easiest to mine part?

I've done some minor Googling on the subject and it strikes me that .3 of an ounce per tonne is purportedly the average in South Africa... Although I also read 2 ounces per tonne in a big mine in Canada...

Too good to be true or are they for reals?


Anyway, no biggie when gold reaches $3500US per ounce in 2 years:

http://www.ibtimes.com/gold-prices-could-skyrocket-3500-wild-unorthodox-estimate-citi-analyst-1401412

[whatsup]

So... .75 ounces per tonne is the easiest to mine part?

I've done some minor Googling on the subject and it strikes me that .3 of an ounce per tonne is purportedly the average in South Africa... Although I also read 2 ounces per tonne in a big mine in Canada...

Too good to be true or are they for reals?


Anyway, no biggie when gold reaches $3500US per ounce in 2 years:

http://www.ibtimes.com/gold-prices-could-skyrocket-3500-wild-unorthodox-estimate-citi-analyst-1401412

robbo, are you for real, how much knowledge and mining experience have you, Aust mining cos are happy with 5gms/t with reasonable tonnage. we have a very small mining operation here which with good management could finally come off, sure the gold price has fallen from $1700+ last year but this op could produce gold at $700 / t which in todays mining economics is a very cheap cost.

[bullish]

So... .75 ounces per tonne is the easiest to mine part?

I've done some minor Googling on the subject and it strikes me that .3 of an ounce per tonne is purportedly the average in South Africa... Although I also read 2 ounces per tonne in a big mine in Canada...

Too good to be true or are they for reals?


Anyway, no biggie when gold reaches $3500US per ounce in 2 years:

http://www.ibtimes.com/gold-prices-could-skyrocket-3500-wild-unorthodox-estimate-citi-analyst-1401412

Couple of points


-Africa gold tends to be large volume lower grade its all about the type of deposit. This is like favona than say waihi open pit.
-Bit hard to fudge historical grades which came out of the mine and they prove its still there by reserves.
- recent grades from a stockpile showed up to 1% gold. 1% of 1 ton = 1000 grams per ton.
-further grades sampled showed up to 500g/t that's 16oz per ton.
-some were way lower.
-Jorc reserves are impossible to fudge and a public company gets delisted for such things. Google Ausimm and Jorc code.

High grade narrow vein means they will get high and lower grades depending on ore and mullock mix. This their average reserve grades El z kindly worked out for us.

I heard the meeting was worth going to. They explained why there is flexibility that protects the project from huge gold swings. They will simply move to high grade versus lower grades based on gold prices. Anyone who went got a good update?

Its just a pity they won't take over subscriptions so we are limited in take up. Only moosie with his 53 holdings in 12 jurisdictions gets to benefit preparing for his takeover.

El z and moosie what's your current view on this one. I read the releases seems promising particularly liked the comparison to worlds highest grades.

Major did we get our site visit ?


Bullish

[elZorro]

I think NTL will be waiting for the final cashflow into their bank account before contacting goods and services suppliers more positively. The closing date is 26th September, 5pm. That's this Thursday. I guess shareholders all have an option to either sit back and see what happens, or put in a modest amount and see if it comes back out the other side with interest. I will probably invest.

As NTL are proposing to make a bullion sand concentrate near the mine, and getting that toll treated somewhere, they have many options including sea freighting it, like OGC does at Didipio. Obviously it would be preferable to use Newmont Waihi's mill. Apparently Newmont feels a social obligation to assist in projects that put historic gold mining in a good light. They assist an educational facility at Waihi, and toll treat ore for Broken Hills Mine, because of the tourism and education slants those businesses have. The Talisman Mine has a big history, and it might later be a good sideline for NTL to offer guided tours and generally accommodate tourists and locals, as Macraes and Waihi operations do.

[nextbigthing]

Does the reasonable possibility of the Greens getting into power concern you?

Disc small holding

[elZorro]

Does the reasonable possibility of the Greens getting into power concern you?

Disc small holding

I think a positive, informed attitude will help here: there are probably some good deeds that NTL can do in the area around the Talisman Mine, these won't cost much and will be seen as a balance against a small local flora and fauna impact from resumed mining. There will be other positives, like more jobs in the area.

[nextbigthing]

I hope you're right Moosie. The last poll I saw had the left wing and right wing blocks reasonably close. Too close for my liking. So you feel that even if the greenies get in it will be too late to bother stopping NTL. How far in to the process will NTL be by then?

Political uncertainty is certainly not ideal!

[Minerbarejet]

Back home again and catching up. Right, firstly mine visits are quite on the cards as a sheet of paper was put out for those interested to put their names down. There will be some safety issues though and I was under the impression that it wouldnt be an inspection of veins and working areas actually in the mine.
Secondly, it seems there are a lot of people who follow Sharetrader, including some ntl management, who do not post on the threads.
Thirdly the adjustment to directors fees was promoted on the grounds that an additional director may be needed and assurances were given that it was not to increase the incumbents fees.
My understanding of the mine visits was that they will be contacting shareholders re this matter.
Another thing that also came to light was they were looking into a share consolidation at some stage.
General impression - upfront directors that are easy to talk to and all go for the eventual rhubarb season if they can get enough funds together. Its getting close.:)

[robbo24]

Secondly, it seems there are a lot of people who follow Sharetrader, including some ntl management, who do not post on the threads.

Hopefully they read my comments about bogan-as-looking powerpoint presentations... Come on NTL, you've got to make NTL appear sexy.

[Minerbarejet]

Hopefully they read my comments about bogan-as-looking powerpoint presentations... Come on NTL, you've got to make NTL appear sexy.
Sorry buddy, you can only do that with strip mining:)

[robbo24]

If they have a mining permit then by default it lasts for 40 years unless stated otherwise on the permit.

Resource consent to mine will be the hard (and expensive) part. Fortunately, unless a hypothetical commie government wants to tinker with the Resource Management Act it is the local council's decision whether to grant consent or not... And so forth may begin an exciting journey through the Environment Court to the High Court...

[robbo24]

some other entity would spend a fortune of donations

Donations? Heck no, Moosie, the Environmental Legal Assistance Fund will cover it: http://www.mfe.govt.nz/withyou/funding/ela-fund-guide-for-applicants.pdf

It's a commie slush fund.

[blackcap]

Donations? Heck no, Moosie, the Environmental Legal Assistance Fund will cover it: http://www.mfe.govt.nz/withyou/funding/ela-fund-guide-for-applicants.pdf

It's a commie slush fund.

Themaximumavailable is $40,000 plusGST per new application.
The ELA Fund has a total annual budget of $800,000 (exGST).

Harldy earthshattering though isnt it. Not enough to cover one good legal stoush.

[nextbigthing]

...... NTL would spend a fortune of shareholder money.....

This is what I'm trying to work out/get at. How much trouble could the next government cause if it involved the greens (which in my opinion is a POSSIBILITY). It seems there is some potential for hassle. The decision may be made by the council but that doesn't stop the government getting involved if it feels it has an interest. Sure it's not the same scale but look at CHCH.

Disc; I hold NTL and like the future prospects, just wanting to investigate all possibilities and outcomes.

NBT

[Minerbarejet]

Just an idea coming from the AGM - how about a small paper stick on badge with ST on it and online name to be applied by member if desired. In fact why dont we all get badges and we can wear them to whatever
AGM we go to. Anyone in the printing business?

[nextbigthing]

Just an idea coming from the AGM - how about a small paper stick on badge with ST on it and online name to be applied by member if desired. In fact why dont we all get badges and we can wear them to whatever
AGM we go to. Anyone in the printing business?

Good idea. Would look funny to people who didn't know what it was all about.... Why's this guy advertising he's a pyromaniac clown, this other chap thinks he's a moose and this other guy thinks he's the next big thing. Or does he think NTL is the next big thing? Hmmm.

[Minerbarejet]

do you mean funny peculiar or funny haha?

[digger]

Good idea. Would look funny to people who didn't know what it was all about.... Why's this guy advertising he's a pyromaniac clown, this other chap thinks he's a moose and this other guy thinks he's the next big thing. Or does he think NTL is the next big thing? Hmmm.


It could upset the greenies when they conclude Digger is simply going to leave piles of dirt ever where.

[robbo24]

Themaximumavailable is $40,000 plusGST per new application.
The ELA Fund has a total annual budget of $800,000 (exGST).

Harldy earthshattering though isnt it. Not enough to cover one good legal stoush.

$46,000 is still 150 hours of a decent $300 an hour lawyer's time... And in truth, most of the lawyer's work is done by flipping to the back of an expert witnesses report to the conclusion and writing it into submissions...

[Minerbarejet]

It could upset the greenies when they conclude Digger is simply going to leave piles of dirt ever where. All you would need would be one of those ute loads of cheap trees, Digger, plant them in the piles and the greenies will be all go. Plant maples, birches and trembling aspens and they would all turn to gold.

[nextbigthing]

$46,000 is still 150 hours of a decent $300 an hour lawyer's time... And in truth, most of the lawyer's work is done by flipping to the back of an expert witnesses report to the conclusion and writing it into submissions...

That could be a delay to proceedings right there....

[Minerbarejet]

someone likes ntl in oz - just a few but at .011AUD

[Landyman]

$350k raised in the SPP - enough for an upgrade for the next powerpoint presentation - is that 23-25 investors taking full allotment?

[bullish]

Hmmm, that's quite concerning...

35,067,437 shares issued.

88 New Zealand shareholders and 17 Australian shareholders joined the Share
Purchase Plan, raising NZ$258,000 and AU$79,700 respectively


that's an average buy price of $3318! :eek2:

Im not so sure about that moosie.

Looking at SPP's its about what one would expect % wise in dollar terms anything above 15% is solid. Cant blame anyone but us punters now if they go slow to keep chugging along in the downturn.

Landyman (do you know this stock at all? havnet seen you on the thread ) dont think it will cost that much to change the powerpoint cover to the oracle boat...:)

[blackcap]

That is very concerning. With that amount of cash the company probably cannot go forward for much longer and will need to do more capital raising (itself a costly business) to be able to be a going concern. A rights issue at .5 cents anyone?

[blackcap]

I hope so for you guys Moose!

[robbo24]

Looking at SPP's its about what one would expect % wise in dollar terms anything above 15% is solid.

35,000,000 shares at 1 cent equates to all the shares traded for the last 6 or maybe 12 months.

Relative to overall trading, isn't it a half decent result?

[Dej]

"We are in discussions with a number


of institutional investor groups and their representatives to complete a


placement for remaining funds required to initiate bulk sampling and


production of gold from such operations under the terms of our mining


permit"



Thats what Im focusing on, thats all it takes and then theres nothing to worry about.

[Bobcat.]

If NTL Management can negotiate a sizable institutional placement at 1.1c or above then I'll be more relaxed that institutions also see value in investing in this digger.

If what's agreed is at 1c or lower then that would be a bad sign, and I'll be exiting sooner rather than later.

BC

[elZorro]

If NTL Management can negotiate a sizable institutional placement at 1.1c or above then I'll be more relaxed that institutions also see value in investing in this digger.

If what's agreed is at 1c or lower then that would be a bad sign, and I'll be exiting sooner rather than later.

BC

I think it's possible that larger investors will be offered additional options, in which case they could step up at 1c or more for the initial shares, which would be a good result, since earlier investors don't want to look too short-changed. There isn't much immediate need for a consolidation bigger than 1 for 5, what's important is to get the initial mining capital in within a short time so that suppliers and contractors can get to work. It's a very small amount of cash for the market, about the cost of an ordinary house in Parnell, or so I'm led to believe. Sophisticated investors will be most welcome to contact the head office through a broker, I'm sure.