NTL - New Talisman Mine - New board & Directors

[nztx]

https://www.nzx.com/announcements/391051

Strategic Plan and Proposed Issue of Convertible Notes


NTL already has NZ$1 million pledged from substantial product holder Hamish Brown and is seeking an additional NZ$2.5m pledged to the same mechanism (up to NZ$3.5m in total) which, once necessary regulatory timeframes have been met, will then be subject to shareholder approval at a meeting prior to the Convertible Debt Security being issued. The issue of the Convertible Debt Security and its terms, along with any potential issue of shares, are subject to approval by shareholders and have the following terms:

• Term, 18 months from drawdown,

• Drawdown of the Convertible Debt Security will be in one tranche,

• Annual Interest rate of 9.5%, payable quarterly in cash, there is no option to settle interest by any other means.

• Conversion to ordinary shares at the 18 month anniversary of drawdown at a 15% discount to the preceding 20 day VWAP of the ordinary shares of the Company, or at the discretion of the Company repaid in cash on the 18 month anniversary of drawdown, with no additional fees.

• The Convertible Debt Security will be unsecured and rank pari-passu with unsecured trade creditors.



The funds are being sought to enable the company to implement its Strategic Plan which includes:

• Recommencing underground activities at the mine, including developing the required Second Egress.

• Advancing the Mystery Vein shaft.

• Advancing the Mystery Vein will trigger the existing 2 year Bulk Sampling Consent.

• Opening a second face on the Mystery vein once the Second Egress is complete.

• Funding the implementation of the Traffic Management Plan

• Funding the Resource Consent application for Full Mining Consent

The Company will pay Campbell MacPherson a retainer of NZ$7,500 plus a 5% success fee applying to the NZ$2.5m of additional Capital raised. (a maximum total fee of NZ$132,500 to be paid in cash, there is no option to settle the fee by any other means).

The company continues to evaluate processing options with third parties, and has preliminary designs for its own small scale plant if required. We will provide updates as this component progresses.

The Board is pleased to have reached this important milestone in the Company’s stabilisation, and looks forward to bringing the mine into production. The Board would like to acknowledge the ongoing support and patience of shareholders through what has been a difficult time. We feel this proposal heralds an exciting new chapter for NTL.

[Joshuatree]

Viandi Fraiche with a new set of directors and suckers,imo, rinse and retreat

[Chippie]

I like the convertible debt option. Also happy with the progress, I did fear this could be a write off if previous management had been completely lying and not just incompetent

[dubya]

Viandi Fraiche with a new set of directors and suckers,imo, rinse and retreat

Yup its been going on for decades now.

[Paint it Black]

This deal imho is as good as it will get for shareholders given the circumstances inherited by the new board. The second egress route, which was at best only vaguely mentioned by the expelled board, is now at last being addressed and a realistic strategy is in place to both obtain the funding and profitably produce the long awaited gold. It is fortunate that the major shareholder Hamish Brown has already pledged $1 million which already is almost a third of that estimated to implement the strategy. Of course due to NTL's low cash base shareholders will need to pay a 5% success fee to the brokers (excluding Hamish's contribution) as well as a 9.5% pa interest rate and 15% discount on the conversion of the notes to shares at the end of 2023. However the deal means there will not be a need for the cash raise from shareholders proposed by the expelled board. This was never going to succeed from the weary shareholders and full marks to the new board and Hamish for managing this alternative arrangement which one hopes will be approved by shareholders at the end of June.

[Chippie]

This deal imho is as good as it will get for shareholders given the circumstances inherited by the new board.... and full marks to the new board and Hamish for managing this alternative arrangement which one hopes will be approved by shareholders at the end of June.

Absolutely agree, good points

[dubya]

Day of reckoning is coming.......get the popcorn ready :t_up:

[nztx]

Day of reckoning is coming.......get the popcorn ready :t_up:


And then there's the second one - with the ERA Case :)

Will he front at either or both ? ;)

Should we organise a welcome back party - so he can shout us all for providing him with
a ten year meal ticket ? ;)

There will now be no excuse for him not being able to hop on a plane to front up :)

Nobody had better mention that there may be a Large Class action lurking in the wings at
Number 3 to mop up what the first two don't clean out ;)

[Curly]

Yes I had 5 million reasons to jump on the class action wagon. Suggest steering committee be Robbo and Juno.

[Getty]

Yes I had 5 million reasons to jump on the class action wagon. Suggest steering committee be Robbo and Juno.
Is Juno Mr Udderfield?

[Curly]

Is Juno Mr Udderfield?
Stranger things have happened on this thread

[nztx]

Quarterly Report Sheet - Period ended 31 March 2022 :

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/391250/369557.pdf


On the regulatory front during the quarter NZ RegCo concluded their review
of certain matters raised during 2021. The outcome was that NZ RegCo
found that NTL breached multiple provisions of the NZX Listing Rules, in
relation to the 2019 capital raise and also in relation to subsequent events
in 2021. NZ RegCo determined, that given the changes to the Board since
the 2021 ASM, an educative outcome was appropriate, rather than taking
enforcement action. Accordingly NZ RegCo published a report regarding its
review, instead of referring the matter to the NZ Markets Disciplinary
Tribunal.

The Company considers this is a fair result for shareholders who had
already demonstrated their displeasure with the previous Board at the 2021
ASM.


Late in the quarter Matthew Hill (former Director) filed a claim with the NZ
Employment Relations Authority. Mr Hill asserted in the claim that he is
entitled to various employment related entitlements and compensation,
provisionally quantified at $817,537.

NTL does not accept that Mr Hill has been an employee, continues to deny
the claims and considers them to be without foundation. Mr Hill had
specifically requested a management services contract for Asia Pacific
Capital Group Limited.(APC) As part of NTL’s defense, Mr Hill has been
asked to provide financial records for a number of entities APC and he were
involved with whilst contracting to NTL.

That could be interesting :)


These entities include a company associated with Matthew Hill that made undisclosed application to NZPAM for a tenement that NTL had relinquished.

Further action against Mr Hill has not been ruled out by the Company.


Well done - NTL Board - go after the Critter with a red hot poker .. the more
in the chase the better ;)

Really can't fault the new Board's progress to address matters very promptly either :)

[Hawkeye]

" Yes I had 5 million reasons to jump on the class action wagon. Suggest steering committee be Robbo and Juno. "

What class action is this? is it directed at NTL or M Hill?

[Landyman]

Day of reckoning is coming.......get the popcorn ready :t_up:

I wonder if he showed up

[dubya]

I wonder if he showed up

It was just a telephone case management conference call between lawyers and the judge.
Wheels of justice spin slowly......but at least they are spinning!!

[Landyman]

Buyers at $0.002 drying up - Jonu, start digging my friend.

[nztx]

Buyers at $0.002 drying up - Jonu, start digging my friend.


The are rumours that weekend expeditions are being staged to try to locate Hill's lost treasure casket
allegedly buried somewhere on the Hill and bound to point to exactly what previously went wrong :)

[Getty]

The are rumours that weekend expeditions are being staged to try to locate Hill's lost treasure casket
allegedly buried somewhere on the Hill and bound to point to exactly what previously went wrong :)

Should not be hard to find the treasure.

According to many of Matts reports, its stock piled in the mine, awaiting processing...

[Getty]

He was ahead of the bell curve, was that Matt.

The Chinese are making overtures to the Pacific nations, offering to advance fishing and mining.

With Matts Vanuatu foray, he knew how to use mining to get fishing...

[nztx]

Should not be hard to find the treasure.

According to many of Matts reports, its stock piled in the mine, awaiting processing...


must be a fair pile down there somewhere to have caused such a delay in Board reporting back
or perhaps they're still checking out the shadows on where it was alleged to have been last seen ? :)

Maybe Matt's Ghost is throwing a multitude of spanners in the works deep down in the shafts ;)

[Fundamentalfinder]

https://www.1news.co.nz/2022/05/25/nz-gold-rush-resurrected-after-160-year-hiatus/?fbclid=IwAR3ZwgDvhKMyW806owqu0k7Ez69fFAbc4le9lq5L BNz4cu0qv8KUL-pwj5A&fs=e&s=cl

[Landyman]

https://www.1news.co.nz/2022/05/25/nz-gold-rush-resurrected-after-160-year-hiatus/?fbclid=IwAR3ZwgDvhKMyW806owqu0k7Ez69fFAbc4le9lq5L BNz4cu0qv8KUL-pwj5A&fs=e&s=cl

Our Matt sure found some gold in the shape of us shareholders (yes, I bought back in).

[whatsup]

NTL has turned the corner today ( at last ) with its $1000-00 of revenue, onwards and upwards from here !!

[haewai]

NTL has turned the corner today ( at last ) with its $1000-00 of revenue, onwards and upwards from here !!

Nah, 60% reduction from FY21

[Landyman]

If Jonu can sell the story of our Matty to the media, would make for a great Womans Day cover! And Im sure they would pay.

Discl: not even sure if Womans Day mag still exists :-)

[Landyman]

Turning point - little choice but to support. If I read it right, Mr Brown stumping up all the cash - could we actually see some results in 2022?

[dubya]

Yeah no choice but to support imho. I didn't see any mention of processing options, but I guess that's a minor issue compared to everything else. I wonder where that unused pilot plant is now lol.
The REAL money will be required in the next stage(s) and I'm sure there'll be at least one, probably lots more, capital raises.
At the last AGM Hill said it would cost $12 million to get the mine into production. I can't think of any reason for him to overstate the figure ;).
Good luck guys!!

[nztx]

Yeah no choice but to support imho. I didn't see any mention of processing options, but I guess that's a minor issue compared to everything else. I wonder where that unused pilot plant is now lol.
The REAL money will be required in the next stage(s) and I'm sure there'll be at least one, probably lots more, capital raises.
At the last AGM Hill said it would cost $12 million to get the mine into production. I can't think of any reason for him to overstate the figure ;).
Good luck guys!!


how long should we wait for 1/10th of a cent SP milestone ? :)


the bottom draw might strangely become jammed on that one, with a few more bottom draws
needed awaiting possible multibaggers ..

[Landyman]

to misquote someone from years/decades ago - "guaranteed to be a 10 bagger" - hahaha, gotta be in to win!

[nztx]

to misquote someone from years/decades ago - "guaranteed to be a 10 bagger" - hahaha, gotta be in to win!


sounds like more incoming large multibaggers needed by NTL to launch :)

[dubya]

how long should we wait for 1/10th of a cent SP milestone ? :)


the bottom draw might strangely become jammed on that one, with a few more bottom draws
needed awaiting possible multibaggers ..

Not sure lol.
I did laugh out loud though when I read this post on another forum about how long people have been waiting for gold to come out. (the poster also posts on this forum and the NTL thread).

" Yeh, Ive been a S Her circa 1986 36 years and still waiting !!! "

[nztx]

Not sure lol.
I did laugh out loud though when I read this post on another forum about how long people have been waiting for gold to come out. (the poster also posts on this forum and the NTL thread).

" Yeh, Ive been a S Her circa 1986 36 years and still waiting !!! "


I don't feel quite so bad as 36 years punishment is probably a whole heap worse than a mere 17 or so years :)

[Landyman]

I don't feel quite so bad as 36 years punishment is probably a whole heap worse than a mere 17 or so years :)

36years, well, its certainly due then!!

Go Jonu, you can do it.

[nztx]

36years, well, its certainly due then!!

Go Jonu, you can do it.

sounds like 36 years is when they first listed .. what did this thing list at back then ?

was it 30c, 50c or a buck ?

[Landyman]

$0.001 coming at us, someone jumping ship!

[Brain]

Mr Brown is a very brave man. I have just voted in favour with my small number of shares.

I am very keen to see how this will be progressed. The 6 x 10 tonne truck movements per day on the access road and one blast event per day are factors that will restrict mine revenue. Ore processing can probably be solved but the operational restrictions might be more difficult. I have always been concerned by the possibility that there could be a number of anti mining people embedded in the local council but maybe the problem might have been the way Hill communicated or didn’t communicate with the council

[nztx]

$0.001 coming at us, someone jumping ship!


would do interesting things to Capitalisation wouldn't it - ? .. would it be enough to slide off
the ASX on listing requirements ? could be the closing curtain .. worse than worse for Matt ..
nothing like saving a few more fees that ASX must extract in any reasonable year ..
possibly closed door on phone an Aussie friend to place a few 100 million unloved shares too :)

and the good news .. at 0.001 it can only do one of two things - sit or bounce :)

On the bottom - a 1 for 2 or even 1 for 3 consolidation would hardly be noticed .. very useful for
wiping off some surplus zeros now well beyond their use by date .. even a 1 for 10 consolidation
could have it's uses too :)

[Baa_Baa]

would do interesting things to Capitalisation wouldn't it - ? .. would it be enough to slide off
the ASX on listing requirements ? could be the closing curtain .. worse than worse for Matt ..
nothing like saving a few more fees that ASX must extract in any reasonable year ..
possibly closed door on phone an Aussie friend to place a few 100 million unloved shares too :)

and the good news .. at 0.001 it can only do one of two things - sit or bounce :)

On the bottom - a 1 for 2 or even 1 for 3 consolidation would hardly be noticed .. very useful for
wiping off some surplus zeros now well beyond their use by date .. even a 1 for 10 consolidation
could have it's uses too :)

.... deleted

[nztx]

.... deleted


I seen your original posting & have seen some of that going on over yonder..
400:1 is not kind at all

[nztx]

That $0.002 seems to be very stubborn :)

May be a 50% discount day happens tomorrow ..

[ThaiJohn]

0.1
1,659

12:39





Boom!��

[dubya]

Time to back the truck up. Ah…………nah – think I’ll pass ;)

[nztx]

Time to back the truck up. Ah…………nah – think I’ll pass ;)


Truck busy up country -- a stray gib opportunity :)

too golden to miss out on ..

[dubya]

Truck busy up country -- a stray gib opportunity :)

too golden to miss out on ..

Haha. Maybe POG stands for 'price of gib'

[nztx]

Haha. Maybe POG stands for 'price of gib'


Think we should show some sympathy for all the Sharesies crowd & large holders ..
whose fortunes have just halved on a mere 1659 bits crossing the NZX line :)

[nztx]

Annual Report to 31 March 2022:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/394462/373667.pdf

$4.65 m of Mine Impairment finally recognised

Vanuatu sitting awaiting review once recapitalised

Nice to see direction & a refreshing more vibrant active Board in place progressing towards addressing issues

[Landyman]

Certainly feels more realistic - bank balance at $0.5m - but with a recapitalisation coming.
Lets hope we see some production soon. In my perfect world, we would also see Hills claim laughed out of court (Mediation) and him returning some coin to NTL.

Discl. Holding very little, but potentially looking to get back in a bit more.

[whatsup]

EGM meeting done and dusted, Im picking that it will be a yes vote, results to be released once known, shortly.

[whatsup]

EGM meeting done and dusted, Im picking that it will be a yes vote, results to be released once known, shortly.

Both resolutions passed @ 92% as expected.

[blackcap]

Hopefully with the resolutions passed, some cash in the bank shortly, a new strategy going forward etc, NTL will be able to make a fist of things. Will take some real work (not the made up kind of stuff under the last lot) but if anyone can do it, I am guessing Jonu will be able to give it a good nudge. Watching on the sidelines with interest.

[nztx]

Haha .. 3 bagger for some luckier speculators .. on 0.003 in recent days on small volumes though :)

[Landyman]

10 bagger soon - well, lets hope this is the turning point - Im hoping for some gold fever!

[dubya]

Yes, well done to anyone who bought at 0.001 and sold at 0.003.
Meanwhile...........tomorrow....................:D


13932

[Landyman]

Yes, well done to anyone who bought at 0.001 and sold at 0.003.
Meanwhile...........tomorrow....................:D


13932

WOnder if Jonu will return fire and try to do Hill for misleading statements to Shareholders - this could be better than Depp v Heard!!
Wouldnt it be ironic that NTL go into production the day the trial goes ahead - Jonu - you can do it!!!

[nztx]

Yes, well done to anyone who bought at 0.001 and sold at 0.003.
Meanwhile...........tomorrow....................:D


13932


It looks like just Pre-Trial directions on which holds are permitted
and how many different ways Hill can be floored or pushed over :)

[dubya]

If anyone up Auckland way hears in due course what date the trial is (assuming it goes to trial), could they please post it on here.

I posted this on the 07th July 2020, almost exactly two years to the day.
Hill (or his aliases) haven't come down this way, soooo I guess I'll have to come up to Auckland instead to tell him what I think :D !!!


Message for 'bullish" (cos I reckon ya still come to this forum to read it :cool:) but now only as a guest.:t_up:

I didn't get a chance to reply to your personal message the other night when you asked me about Mathew Hill lmfao.
Hopefully you'll have a lot more free time on your hands in the very near future, so if you're ever down Christchurch way, get hold of me and we can catch up for a coffee and I can tell you what I think face to face.

[mistymountain]

If anyone up Auckland way hears in due course what date the trial is (assuming it goes to trial), could they please post it on here.

I posted this on the 07th July 2020, almost exactly two years to the day.
Hill (or his aliases) haven't come down this way, soooo I guess I'll have to come up to Auckland instead to tell him what I think :D !!!

Can recommend: https://www.goodreads.com/book/show/778124.Bastards_I_Have_Met

if bored while you're waiting for the Jury to make their Decision...

[nztx]

1/3 of the bags disappeared in today's trading :)

[Landyman]

Hey Jonu, just in case you are still checking in. Not that you can say anything, but hope the Directions conference went well, and that you get the opportunity to push back on Matty!

[Ferg]

I hadn't seen this posted here, but here you go:
https://www.syndex.exchange/investment-opportunities/new-talisman-gold-mine

Seeking to raise $3.5m to fund mine activities, of which $1m is already pledged by a cornerstone shareholder.

Convertible debt securities paying 9.5% interest in cash quarterly, and then converting to shares at a 15% discount at 18 months.

[kiora]

Mentioned here but slightly different perspective ?
https://stocknessmonster.com/announcements/ntl.asx-6A1102200/

[Getty]

Mr .1c made a sound investment.

At.3c, he has trebled his money.

The ping pong table has a much more steady look to it, now its got a new $1M leg propping it up.

[Landyman]

Jonu has some coin, now to put it to good use!!! Time to buy-in big time!!!

[nztx]

and down by 33.333% :)

[Brain]

Presumably that is Mr Hamish Brown that has Ponied up the $1m. He must have done his due diligence and come to the conclusion that the mine is a goer. I think he is a brave man. NTL will need much more dosh than that to get this going. All hinges on if other shareholders can be convinced to throw some money in.

[Landyman]

Yes, somehow they need to create a gold-rush and get some new investors believing this is a go - the regulars (olde time HGD) investors have burned enough (apart from Mr Brown) so might wait on the sidelines.
I think one of the last announcement said was that they were triggering the extraction clause, so we might see some AU yet - how much, and whether commercial viable -we will see.

[Paint it Black]

Yes, somehow they need to create a gold-rush and get some new investors believing this is a go - the regulars (olde time HGD) investors have burned enough (apart from Mr Brown) so might wait on the sidelines.
I think one of the last announcement said was that they were triggering the extraction clause, so we might see some AU yet - how much, and whether commercial viable -we will see.

Great to see Jonu has purchased another 10 million shares in the disclosure this morning. Nothing like fresh substantial director skin in the game to encourage new investors upside action is about to begin!

[nztx]

Great to see Jonu has purchased another 10 million shares in the disclosure this morning. Nothing like fresh substantial director skin in the game to encourage new investors upside action is about to begin!


Has he spotted something interesting in the dark for this, that no-one has yet been told about ? ;)

I think a similar $20k thrown at other sorts of green unfriendly black gold elsewhere appears to be an instant
success story with near huge returns, no digging in the dark needed :)


When are the next Directors fees going to be paid out ? :)

[Getty]

My pet Powelliphantas are in for a rude awakening, but at least they will have another entry/exit point to choose from!

[Landyman]

Interesting - Jonu has always been bullish (excuse me, I couldnt resist) about NTL - but now he is in the know, and still buying.

Transformation on the way. Still a legal case floating in the background though

[Paint it Black]

Has he spotted something interesting in the dark for this, that no-one has yet been told about ? ;)

I think a similar $20k thrown at other sorts of green unfriendly black gold elsewhere appears to be an instant
success story with near huge returns, no digging in the dark needed :)


When are the next Directors fees going to be paid out ? :)

What we now have is an honest credible strategy and more money in the bank to implement it.

[Landyman]

I look forward to the headline "First gold produced in XX years" - will bring renewed interest from both investors and protestors.

Go Jonu, you can do it!!!

[Brain]

I look forward to that too. Jonu throwing $20k at the market has piqued my interest. I may get off the sideline. I think I should at least lace up my boots.

[Charlie]

But is it investible yet at Retail Levels in it's present structure without a
hefty consolidation at current SP levels in near / medium term ? ;)


Other ASX Goldies operating here in NZ have YTD 2022 SP's up 40% - 60% more or less
and are going places rapidly, with very significant upgrades to their deposits / strikes :)

I know where I would be flinging further Ca$h and it's nowhere near Coromandel :)
just out of interest who are the ASX miners working here?
OCA......

Looking back at 2016, I bought some at .006 and sold for .027 one year later and made $40000 along the way.
now time to buy back in . I have some now at .002, and will see if the .003 sells hold up, i,ll try to get some more at .002, otherwise I,ll need go go to .003 before they all sell.
Should be an interesting week

Its a lovely place to walk and cycle, but getting very busy with tourists .
The bridges over the river are not the best. So just wondering on how they might move the ore offsite.

[nztx]

just out of interest who are the ASX miners working here?
OCA......

Looking back at 2016, I bought some at .006 and sold for .027 one year later and made $40000 along the way.
now time to buy back in . I have some now at .002, and will see if the .003 sells hold up, i,ll try to get some more at .002, otherwise I,ll need go go to .003 before they all sell.
Should be an interesting week

Its a lovely place to walk and cycle, but getting very busy with tourists .
The bridges over the river are not the best. So just wondering on how they might move the ore offsite.


Other ASX Gold Miners / Explorers I know of working in NZ are -

ASX: SMI - Santana Minerals (Otago - near to Macraes deposit)
ASX: NAE - New Age Exploration
ASX: SNG - Siren Gold (Reefton River)

Possibly more ASX companies, plus there is a Canadian listed or owned gold company

[Charlie]

Thanks NZTX.. I tried to give you a star but it wont let me :sleep:

[Brain]

Thanks NZTX.. I tried to give you a star but it wont let me :sleep:

I just gave NZTX a star on your behalf

[dubya]

Just remember guys, Jonu the current chairman has been "backing the truck" up for years, and at prices substantially higher than the SP today.
It wouldn't surprise me at all if he's deep in the red. So I just reckon treat any current purchases he makes in NTL with a bit of suspicion and a good dose of scepticism. IMO he could just be protecting his "investment" (jeez I hate to use that word) and the blinkered bias he's had with this company for many many years.


.............My investment has already been "verified", my average cost is well below the current sp.
Price on day he posted that was 1.3c (31 May 2018) Price has never been higher from memory.


Just had the rest of my order filled at 1.4. Can't believe my luck.
Posted 09 February 2018


Despite earlier telling myself I had enough I couldn't help it yesterday and topped up with another 150k shares @ 1.5.
Posted 28 February 2018


Jonu has been accumulating again at 1.3NZ Lovely Jubbly
Posted 22 February 2019


Gold price sitting at $1337 USD at the moment. I was quite happy at $1250. Every increase is all extra profit for NTL as we head into extraction mode.
Posted 15 January 2018

Disc: So it's all lovely jubbly in Christchurch, and I can't believe my luck that I made some good money out of NTL, and then got out before it went into "extraction mode" :D :D yeah right. Think more like detonation and capital destruction mode!!!!
Be careful people!!!!

[Paint it Black]

Just remember guys, Jonu the current chairman has been "backing the truck" up for years, and at prices substantially higher than the SP today.
It wouldn't surprise me at all if he's deep in the red. So I just reckon treat any current purchases he makes in NTL with a bit of suspicion and a good dose of scepticism. IMO he could just be protecting his "investment" (jeez I hate to use that word) and the blinkered bias he's had with this company for many many years.


Price on day he posted that was 1.3c (31 May 2018) Price has never been higher from memory.


Posted 09 February 2018


Posted 28 February 2018


Posted 22 February 2019


Posted 15 January 2018

Disc: So it's all lovely jubbly in Christchurch, and I can't believe my luck that I made some good money out of NTL, and then got out before it went into "extraction mode" :D :D yeah right. Think more like detonation and capital destruction mode!!!!
Be careful people!!!!

Probably true for many of the long time holders who will be looking to average down once definite recovery is underway. Could then move very quickly.

[Getty]

Jonu sure has been a smitten kitten, rather than a fat cat, but he did move the fireside cat off its Matt, albeit after many years of smooching.

[dubya]

Probably true for many of the long time holders who will be looking to average down once definite recovery is underway. Could then move very quickly.

Michael Stiassny buying 50 million shares would probably have me back on the register :cool:

[Getty]

Other ASX Gold Miners / Explorers I know of working in NZ are -

ASX: SMI - Santana Minerals (Otago - near to Macraes deposit)
ASX: NAE - New Age Exploration
ASX: SNG - Siren Gold (Reefton River)

Possibly more ASX companies, plus there is a Canadian listed or owned gold company

OGC on ASX deserve a mention as operators of the Martha Hill project at Waihi, just a few km from the Talisman mine.

Huge plans to expand their project.

[Charlie]

Thanks . Good luck Brian

[Charlie]

Only put in what you are prepared to loose , but gains could be high on FOMO for a short while like in 8/17.

[Charlie]

OGC on ASX deserve a mention as operators of the Martha Hill project at Waihi, just a few km from the Talisman mine.
Huge plans to expand their project.
That is one big hole in the ground, right on the edge of town !! Awesome place to visit, as is Karangahaki Gorge- NTL territory. Lovely bush walks there. Take a 4 hr walk to to top of the K mountain and get an awesome view of both mine-territory . 360 view from the top, and interesting signs/ info to read about the previous mine works.

[Landyman]

More on market purchases by director - is this confidence I see building? Go you good thing - well, not good yet.

[Charlie]

More on market purchases by director - is this confidence I see building? Go you good thing - well, not good yet.
Sellers seem to be taking shares off the table , as few have been bought at .003, but now sellers are right down. Why sell at 3 when you could sell at 4? All we need now is a bit of FOMO and bingo !

[Landyman]

Sellers seem to be taking shares off the table , as few have been bought at .003, but now sellers are right down. Why sell at 3 when you could sell at 4? All we need now is a bit of FOMO and bingo !

Gold fever just around the corner

[haewai]

Merciless hyping. I'm sure the directors would need to expose any material reason for buying. Still no extraction, no traffic plan, no processing plant or plan, just cash burn. Beware the pump and dump.

[Paint it Black]

Merciless hyping. I'm sure the directors would need to expose any material reason for buying. Still no extraction, no traffic plan, no processing plant or plan, just cash burn. Beware the pump and dump.

Why is this hyping? Just a small transaction from a new director who is well placed to know where this is going. There is a strategy in the annual report. No need to get upset!

[Landyman]

Hyping, but with money from their own back pocket. We saw for years NTL directors sat there taking their fees, and free shares (I think) rather than put any of their own cash on the line - this is new. Yes, could be pump and dump, but would indicate that there is actually something to pump up.

Downside is there though - will extraction and processing be possible at a profit?
Will Mattys claim through the courts be accepted? and NTLs legal costs to defend it - that could hurt.

[Landyman]

Director making further ($3k) on market purchases

[haewai]

"Director". This buying, although a positive signal, indicates no known material announcements are incoming. I guess there could always be a surprise find though.

[Landyman]

Yes - the fine balance of reporting requirements - must update the market if price sensitive information is known - but then dont need to if its not finalised, but Director knows whats coming so shouldnt trade.

Either way, Im just glad that its a BUY and not a SELL

[Brain]

Another good announcement today. Giving up the Parnell office is the right move. Well done the directors. The buys heavily outnumber the sell quotes another positive sign.

[whatsup]

This is going to be touch and go imo board is trying all options after the messed up effort of the last board

[Landyman]

Still a mountain to climb for sure. Whether they can get it all consenting, extracted, and processed remains to be seen.

Our Jonu at least is giving some clarity, and seems to have a plan to achieve the prize. Few million in the bank, will it be enough??

AGM, guess there will be mention of the pending case of Matty v NTL claim to be an employee - but they wont be able to say much. COunter claim that Matty was a "naughty boy" when at the helm.

Lets hope the gold flows!

[Brain]

I would think that NTL are on solid ground with respect to Hill not being an employee. I would expect Mr Stiassny would have run into these arguments before and if in doubt would have received sound legal advice.

[whatsup]

IMHO One would have to ask WTF has Matt been doing all of these years ?

[Landyman]

Personally, I think he was only interested in cashing his cheque, and milking the cow - he never really made any progress in the time he was at the helm

And to counter my enthusiasm for seeing a Director buy on market, then amount they are buying is very small ($3k), which isnt material.

[whatsup]

Personally, I think he was only interested in cashing his cheque, and milking the cow - he never really made any progress in the time he was at the helm

And to counter my enthusiasm for seeing a Director buy on market, then amount they are buying is very small ($3k), which isnt material.

Was he a Aussie if so nuf said !!

[haewai]

And to counter my enthusiasm for seeing a Director buy on market, then amount they are buying is very small ($3k), which isnt material.

I was going to say something similar, but think the materiality depends on the individual's circumstances. If this is all the free cash they have avaliable right now, this would be more telling than just a whimsical spare change punt

[Brain]

People do not throw $3k at a lost cause no matter how wealthy they are. In fact the people I know that are way wealthier than me ( which is a low bar) are tight with money, some to the point of being stingy. In fact one of my mates I would describe as a stingy parsimonous cheese-paring Scrooge and if NBR knew about him he would be on the rich list. Fortunately he lies low and keeps himself under the radar.

[Charlie]

As the increments go up, as you know, the % gain gets less very quickly, so to buy even a small amount ($3000 ) at 2 to 3 is 50% gain.
to buy at say, 9 to 10 is 11% gain. good idea I say for her ..........

[Landyman]

Anyone attending the AGM?

[blackcap]

Anyone attending the AGM?

Its a virtual only AGM but yes I will be attending.

[Landyman]

Shareholders and proxyholders can watch and vote during the virtual Annual Meeting via the
online platform at: https://ntlasm2022.anzpac.chime.live
To do this, you will need a computer or mobile/tablet device with internet access.
Shareholders: when you log onto the online platform, you will need to provide your username
and password. Your username is your CSN/shareholder number, and your password will be
your postcode or country of residence (if outside New Zealand).

[whatsup]

AGM, Could be interesting and Im hoping will show a concrete way forward for the future after years of dead ends !

[Landyman]

If someone could post highlights of AGM (I cant make it), would be appreciated.

[blackcap]

If someone could post highlights of AGM (I cant make it), would be appreciated.

Hi Landyman, the NZSA (New Zealand shareholders association) will be compiling a post AGM report as they do for all listed companies.
Of you can read the chair address which has been posted to the NZX.

[Landyman]

Producing gold in 2023!!!! Wow. Ask them how much!!

[whatsup]

If someone could post highlights of AGM (I cant make it), would be appreciated.

Landym, a positive report from the Chairman under the circumstances which also indicated that they are aiming for gold production 2023, if this is the case the prefs are a interesting investment, one would have to ask , " what the he!! has the former board been doing over the last 5-10 years " !! ?

[Landyman]

New Talisman – Chair’s Address to AGM 2022
September 28, 2022
Good Afternoon Ladies and Gentlemen,
Those of who attended last year's ASM will note there are only two familiar faces remaining
from last year. They are long serving Company Secretary Jane Bell, and Board member Victor
Rabone, who had been appointed just weeks before. The change demanded from
shareholders at the 2021 ASM is reflected in your new Board and we have taken up the
challenge of stabilising the company and focusing on a return to underground operations. We
do this work with two main drivers, Good Corporate Governance and Shareholder aspirations.
And of necessity, in that order. When we can have the two in alignment we will achieve great
things.
We have carried out extensive work and consultation with industry regulators to re-establish
their trust and confidence in the Company, which it is fair to say, were at a low ebb. I am
pleased to say, that while we still have work to do, the regulators have all indicated a
willingness to walk alongside our efforts to fully comply with their requirements.
This work has included addressing and successfully resolving many legacy issues predating the
current Board, including:
• Breaches of the NZX listing rules
• A rights issue to shareholders which was then cancelled.
• FMA enquiries into the former CEO’s postings on sharetrading forums
• FMA queries relating to financial reporting, particularly inventory
• Litigation commenced by the former CEO following our cancelling of the CEO’s
management contract provided through his company, Asia Pacific Capital.
• Two significant acquisitions in progress:
- Broken Hills – which was not completed, and
- Capella (in Vanuatu) – which we were bound to complete.
The major asset of the Talisman Mine also required independent appraisal in the 2022
financial year as it had not been done for some years. This was a planned appraisal and it
supported the value of the asset in our books, but of course does result in additional valuation
costs in the year in which it is done. It also results in additional audit costs to assess the
appraisal.
Subsequently, we also booked an impairment in the Annual Accounts, due to the Company's
share price trading at a significant discount to Asset Value. We are required to impairment
test at least annually and of course if our share price improves, we will revisit the impairment.
All of these issues have required significant input from our legal, accounting and audit
advisers, and have contributed to our Operating costs increasing from $764,000 to $1,067,000
between the 2021 and 2022 financial years.
As we go forward, we are focused on delivering value to shareholders and running a costeffective and efficient company.
We are bringing our accounts administration in-house, and actively examining exiting our
office in Parnell which will result in significant savings for the company.
Our main goal is to bring the Talisman mine into production. To this end - we outlined our
Strategic Plan in April 2022, which involves recommencing underground operations at the
Talisman Mine, and generating income by mining two faces on the Mystery vein.
As announced earlier this month, John Upperton has been appointed our Strategy Delivery
Manager – to focus on delivering our Strategic Plan. We hope to be producing gold in 2023.
John has already engaged with a variety of industry experts in geology, metallurgy and mining,
and we look forward to updating the market as decisions are made and milestones achieved.
We have successfully recapitalised the Company to fund the delivery of our Strategic Plan and
would like to encourage investors to participate in our current placement to help support this
goal.
We will also shortly be issuing loyalty shares to those shareholders who participated in the
private placement in September 2021. We thank those shareholders for their loyalty and
issue one share for every three shares that they continue to hold from that placement, as was
agreed at the time.
The Company has been through a rocky period, followed by the last year which has brought
systemic change and disciplinary rigor to its Governance. We consider the Company to have
turned a corner and is now in a position to concentrate on its core business.
We thank all our shareholders and stakeholders for your support as we endeavour to realise
the potential of the Company's core asset, the Talisman mine

[Paint it Black]

I thought the meeting went pretty much as expected with Samantha doing all of the running. I hoped the other directors could have added a little more detail when answering the questions but this is what can happen with zoom meetings unfortunately. The second half of next year for gold processing advice was also longer than hoped and I really hope this is a conservative assessment to cover the timeline risks. It was good to see they are wanting to concentrate the ore at the mine site (even inside the mine) to minimise transportation effort before forwarding to a yet undecided final processor. All in all I feel much more confident NTL is on a good pathway with the right team. Now just need to be patient a bit longer while Jonu especially gets it all clicking together!

[Landyman]

Was there any further comments on the FMA? Or the pending court case? UNtil resolved, I guess they cant say much.

Given all material info should be public knowledge, hopefully we see the Directors buying in on market again.

[Paint it Black]

The only reference to the FMA case is in the Chairman's report. Perhaps a question should have been raised re any further details. I don't believe it was mentioned as a risk when the question regarding risk was responded to. Would be good to get this out of way to completely clear the decks though as I'm sure the directors are also keen to do! As can be seen in the Chairman's report a large amount of behind the scenes work has recently occurred to save the company and get it back on course.

[blackcap]

Was there any further comments on the FMA? Or the pending court case? UNtil resolved, I guess they cant say much.

Given all material info should be public knowledge, hopefully we see the Directors buying in on market again.

I attended the meeting and from memory there were no questions on the FMA and no further comments apart from the initial Chair address. Material info should be public knowledge. As to directors buying on market, they may be loathe to do that whilst a capital raise is in progress?

[Charlie]

The 1:3 gift of shares to those having held onto shares from 2021 offer will dilute the share pool even more....... geee, so many trillions of shares . No wonder the cost so little.
dic. Hold. Buy

hoping to get to ..004 by next Christmas 2023

[clip]

Normally sell side at 0.003 is restocked to 16m+ whenever someone buys a million, seems to have stopped now and down to 13m - be interesting to see if that 0.003 wall starts to fall

[Landyman]

How does NTL attract fresh investor - most of us here have been round long enough to know that is/was a dead duck, but that Jonu has got some life into it. After following this for over 15yrs, 2023 seems just round the corner.
Be nice to see some uplift!!

[Paint it Black]

I attended the meeting and from memory there were no questions on the FMA and no further comments apart from the initial Chair address. Material info should be public knowledge. As to directors buying on market, they may be loathe to do that whilst a capital raise is in progress?

There is a share placement process in play which is at a premium to the current share price. Refer to the notice issued on the 24/8/22. This is not the same as a capital raise where shares are offered at a discount. The directors have in fact being purchasing on market while obviously disclosing this.

[Paint it Black]

Normally sell side at 0.003 is restocked to 16m+ whenever someone buys a million, seems to have stopped now and down to 13m - be interesting to see if that 0.003 wall starts to fall

Time will obviously tell but nice to see the 0.003 wall reducing another 2 million shares around noon. Even with gold processing scheduled for the second half of 2023 I hope the market will receive a steady stream of activity updates which will lift the SP well before then.

[blackcap]

Time will obviously tell but nice to see the 0.003 wall reducing another 2 million shares around noon. Even with gold processing scheduled for the second half of 2023 I hope the market will receive a steady stream of activity updates which will lift the SP well before then.

That's nice, but there is a "wall" of about 37m shares at 0.3 on the ASX. Now that the exchange rate is in the 80's makes things more interesting. If NZ were to go to 0.3 bid 0.4 offered, you would be best to buy in Aussie at 0.3 rather than in NZ at 0.4.

[Paint it Black]

That's nice, but there is a "wall" of about 37m shares at 0.3 on the ASX. Now that the exchange rate is in the 80's makes things more interesting. If NZ were to go to 0.3 bid 0.4 offered, you would be best to buy in Aussie at 0.3 rather than in NZ at 0.4.

The ASX listing should be dropped imho by the company as I believe it is more of a hindrance than a help. It is a bad hangover from the Hill Family days and must be costing a few $$$ to maintain. It recent times it has had very low turnover and is often stuck below the NZX SP and consequently restrained it. The growing exchange rate difference will further complicate things.

[swissboy]

A good idea. Many years ago I purchased all of my holding on the ASX because it was cheaper at the time. Now (with the exchange rate) it might be advantages for me.

[Curly]

More diluting of share value if there is any value left.

[haewai]

Am I reading this right?
There were 335m shares in the placement (to "sophisticated investors"): http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/379090/354654.pdf
So a 1:3 bonus could've resulted in 111m new shares assuming the issued shares didn't change hands.
But only 8m bonus shares were issued. So only 7% of those 'sophisticated investors' still hold their alloted shares 12 months on.

[Paint it Black]

I think you are correct. The 'sophisticated investors' are noted as Australian investors in the placement and some were possibly connected to the Hill's who subsequently sold their holdings when the Board changed in October upon which the Rights Offer was withdrawn. This has fortunately then resulted in a minimal dilution of the SP. If Jonu & co had not taken the decisive action the 'sophisticated investors' in Australia would have been heavily tilting the company shareholding in their favour and the holdings of Hamish Brown and Jonu would have been severely diluted.

[Landyman]

Announcement today - rings a little bit of old Matty - innovative ways - didnt Matty want an army of snails to do the work?!?!!? hahah
"A number of mining methods are also being assessed, including production of a concentrate
underground, which has the potential to greatly reduce production costs and remove the need to
transport ore large distances within the mine. This will minimise environmental impacts both above
and below ground. The company is currently working on design and installation concepts to be tested
against production volumes, gold recovery efficiency, and costs.
The company is also examining other innovative ideas to maximise the knowledge gained of the mine's
gold resource during the Bulk Sampling phase."

Sellers increasing as buyers drop - 2023, and a few unknowns to conquer before this is a 10 bagger!

[dubya]

There's still this unused piece of expensive machinery lying around somewhere.......

[Paint it Black]

MKTUPDTE: NTL: PRELIMINARY PILOT PLANT RESULTS 09:28a.m.
NTL
20/09/2019 09:28
MKTUPDTE
PRICE SENSITIVE
REL: 0928 HRS New Talisman Gold Mines Limited

MKTUPDTE: NTL: PRELIMINARY PILOT PLANT RESULTS

Significant Gold Concentration Achieved in Pilot Plant
The Board of New Talisman Gold Mines Limited is delighted to announce that
positive results have been achieved with the initial batches of ore tested
through the pilot processing plant.
Two batches of concentrate, produced by passing ore which has been ground to
less than 150micron size (about the same fineness as cement powder), through
the centrifugal concentrator and performing a cleanup on the shaker table,
have been assayed by independent SGS laboratories yielding grades of 989g/t
gold and 4,120g/t silver, and 876g/t gold and 2800 g/t silver respectively.
High levels of other metals such as iron, copper and zinc are reported in the
concentrate. Approximately 1.2kg of this concentrate has been produced to
date.

Quite right - an excerpt from an announcement 3 years ago as to the success of the pilot plant to produce concentrate above. Possibly this is what they are looking at?

[JSwan]

All that effort for 1.2kg, nice

[blackcap]

Announcement today - rings a little bit of old Matty - innovative ways - didnt Matty want an army of snails to do the work?!?!!? hahah
"A number of mining methods are also being assessed, including production of a concentrate
underground, which has the potential to greatly reduce production costs and remove the need to
transport ore large distances within the mine. This will minimise environmental impacts both above
and below ground. The company is currently working on design and installation concepts to be tested
against production volumes, gold recovery efficiency, and costs.
The company is also examining other innovative ideas to maximise the knowledge gained of the mine's
gold resource during the Bulk Sampling phase."

Sellers increasing as buyers drop - 2023, and a few unknowns to conquer before this is a 10 bagger!

It may sound a bit of old Matty, but I am pretty sure they won't be paying salaries and other costs as much as old Matty did.

[whatsup]

Mats settlement agreed at $145 K , moving ahead now !

[Landyman]

where did you see that?

[percy]

where did you see that?

https://www.nzx.com/announcements/400141


PS.Are FMA still after Matt.?

[Landyman]

Well, good to have the noose removed from NTLs neck - though paying him $0 would have felt better.
FMA, still ongoing I assume

[blackcap]

https://www.nzx.com/announcements/400141


PS.Are FMA still after Matt.?

I guess that is for the FMA to decide. I am not even sure that any action of FMA v Matt is now newsworthy as far as NTL is concerned and you probably would not find it posted on the NZX anywhere?

[nztx]

https://www.nzx.com/announcements/400141


PS.Are FMA still after Matt.?


Not forgetting a potential Shareholder Class action pursuing him as well ;)

$145 K wont go far against either or both ;)

[Paint it Black]

https://www.nzx.com/announcements/400141


PS.Are FMA still after Matt.?

Have not heard to the contrary. This settlement is a separate employment issue for his (through Asia Pacific Capital) termination from NTL. Unfortunate he had to be paid anything but a mediation usually leads to a compromise in order to clear the decks.

[Charlie]

145 instead of 817 is fantastic well done . Lets move on and focus on the main thing, and we all know what that is.

[ziggy415]

145 instead of 817 is fantastic well done . Lets move on and focus on the main thing, and we all know what that is.
Ah Vanuatu...��

[Brain]

https://www.nzx.com/announcements/400141


PS.Are FMA still after Matt.?


https://www.fma.govt.nz/news/all-releases/media-releases/fma-accuses-ceo-of-market-manipulation-for-anonymous-posts-on-investor-forum/


FMA seemed very serious in the above media release.

I particularly liked this part

"Karen Chang, FMA Head of Enforcement, said: “Market manipulation undermines confidence in financial markets, especially if it is by a senior executive at a listed company. We considered Mr Hill’s conduct warranted a strong response to demonstrate that such actions will not be tolerated, and to maintain confidence in New Zealand’s markets.”

[nztx]

https://www.fma.govt.nz/news/all-releases/media-releases/fma-accuses-ceo-of-market-manipulation-for-anonymous-posts-on-investor-forum/


FMA seemed very serious in the above media release.

I particularly liked this part

"Karen Chang, FMA Head of Enforcement, said: “Market manipulation undermines confidence in financial markets, especially if it is by a senior executive at a listed company. We considered Mr Hill’s conduct warranted a strong response to demonstrate that such actions will not be tolerated, and to maintain confidence in New Zealand’s markets.”


He has $145K of ill gotten gains from NTL plus the balance of his NTL shareholdings for the FMA
to focus on cleaning out before starting to extract the real penalties out of his back pocket for the
alleged conduct ;)

Perhaps the FMA should aim at making him pay the full pound they extract and some more back to NTL and it's past and present Holders as compensation ;)

Most wouldn't have too much difficulty determining the extent of their Losses in terms of NTL for the duration he has been on the NTL Board :)

[Brain]

He has $145K of ill gotten gains from NTL plus the balance of his NTL shareholdings for the FMA
to focus on cleaning out before starting to extract the real penalties out of his back pocket for the
alleged conduct ;)

Perhaps the FMA should aim at making him pay the full pound they extract and some more back to NTL and it's past and present Holders as compensation ;)

Most wouldn't have too much difficulty determining the extent of their Losses in terms of NTL for the duration he has been on the NTL Board :)

My thoughts exactly. Returning $145k at least to the company to the benefit of the current shareholders would be a good outcome but I am probably dreaming.

Pecuniary penalty and costs could be substantial.

I cannot imagine what his defence will be.

[Landyman]

FMA - been over a year since that last announcement - get a move on. Lets hope there is resolution soon. Be pleased to hear the last of Hill and instead celebrate (optimistic) Jonus good work.

[blackcap]

FMA - been over a year since that last announcement - get a move on. Lets hope there is resolution soon. Be pleased to hear the last of Hill and instead celebrate (optimistic) Jonus good work.

NBR Articles states that "The FMA’s market manipulation case against Hill, meanwhile, has been set down for a full hearing in early 2024".

[Landyman]

If its found that he did, or at least, was trying to manipulate the market - would that lead to action by shareholders to reclaim some of their losses? From what he said, it was never openly pumping the price, but it was certainly in a positve vein - that said JOnu was positive too, just that he has done something (good so far) about it

[Paint it Black]

If its found that he did, or at least, was trying to manipulate the market - would that lead to action by shareholders to reclaim some of their losses? From what he said, it was never openly pumping the price, but it was certainly in a positve vein - that said JOnu was positive too, just that he has done something (good so far) about it

Possibly throwing good money after bad. Even with an FMA condemnation proving and quantifying actual damages to shareholders will be difficult and expensive imho given covid and the risks inherent when investing in a mining company. Maybe by 2024 we will have recovered it all anyway!

[Paint it Black]

Great to read in the Sept quarterly report how the company is now engaging with the Australasian mining community and regulators with good feedback. Also prudent that the placement has been temporarily suspended until additional confidence is obtained on the costs and processing route.

[Landyman]

Yes, some similar noises in the report that we have heard before, though this time it might actually mean it will be done. I wont expect shareprice move until we hear some financials round getting production rolling.

Hopefully thats an increase in SP.

Wonder what our Jonu is paying himself?

[Paint it Black]

Yes, some similar noises in the report that we have heard before, though this time it might actually mean it will be done. I wont expect shareprice move until we hear some financials round getting production rolling.

Hopefully thats an increase in SP.

Wonder what our Jonu is paying himself?

An SP rise on a steady incline based on proven progress along the strategy plan followed by a sharp jump when first gold is produced late next year will suit me! I'm confident Jonu & Co are extremely conscious of keeping their own costs down with little left in the kitty. One would hope they have a performance contract. Inherent already with Jonu's shareholding I guess!

[Landyman]

All is quiet - my attempts to purchase at $0.002 unfruitful so far - trying to get a Christmas "bargain" - time will tell.

[blackcap]

All is quiet - my attempts to purchase at $0.002 unfruitful so far - trying to get a Christmas "bargain" - time will tell.

There are shares available at $0.002AUD on the ASX.

[Sideshow Bob]

Half Year Report

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/403252/384657.pdf

[Landyman]

Will need to sell some inventory, or raise some more cash.
My simple math: next 6 months will see Audit, Director, Other operating expenses ($425k). Current 966 cash, less short term payables (370k) = $596 - so can cover next 9mths or so - havent allowed for any extended creditor terms.

[Paint it Black]

Will need to sell some inventory, or raise some more cash.
My simple math: next 6 months will see Audit, Director, Other operating expenses ($425k). Current 966 cash, less short term payables (370k) = $596 - so can cover next 9mths or so - havent allowed for any extended creditor terms.

Agree its a fine line but doable so long as the timetable is maintained. POG is now NZ$2822/oz with the exchange rate in our favour and the gold price steadily improving recently so let's get the processing agreement done Jonu.

[Landyman]

JonU - you can do it!!!

[nztx]

Moneybox headed towards dry again ? .. more convertible notes @ a high usuary rate on future plan if things
dont pan out on timely basis as planned ? ;)

It kinda happens when none from production is being tossed in and what's there is going one way - out :)

How's the supply of readies in case needed for Part 2 - Mr Brown ? :)

[Landyman]

https://www.businessnews.com.au/Person/John-Upperton

Maybe we can train some bees to extract the gold - better than snails, as they are more likely to be(e)have

[Landyman]

Sellers building, buyers steady - cash is king - hold on Jonu, so close to getting this turkey cooked.

[silverblizzard888]

Reading this part from their recent activity report suggest much more dilution to come:

"The Company generated additional capital by the issue of a ConvertibleNote for NZ$1 million to advance the strategic plan. The Company willconsider future funding options once the full costings of mining andprocessing have been established"

Shareholders think they're investing into a goldmine, but really they are the goldmine in managements eyes.

[moimoi]

HGD to NTL

30 years of not being able to get a mine up and running.

Time for shareholders to realise its them being mined.!

[Baa_Baa]

Reading this part from their recent activity report suggest much more dilution to come:

"The Company generated additional capital by the issue of a ConvertibleNote for NZ$1 million to advance the strategic plan. The Company willconsider future funding options once the full costings of mining andprocessing have been established"

Shareholders think they're investing into a goldmine, but really they are the goldmine in managements eyes.

Hey Silver, what's twenty years between friends eh? New management and directors was a decent coup, but doesn't change much on the delivery side, yet.

Nice to see some folks getting excited about the prospects here but maybe they shouldn't get too far beyond NTL is still an explorer looking for gold, they're not digging up gold, let alone refining and selling it. It's not clear yet whether NTL will be happy to just find the gold (if it's still there), or prove it's there and bail out to a mining company, or if they find it, push on to mining it themselves and try to refine and sell it.

From the ambition in the reporting, it looks like they want to go the whole nine yards, so you're right, it will take a lot more shareholder capital to get there, if they find and prove they have gold. One step at a time, this turnaround has yet to prove anything except that they can take over a company that might have some prospects. Good luck I say, but as an investment proposition it's still a long way from payback.

[silverblizzard888]

Hey Silver, what's twenty years between friends eh? New management and directors was a decent coup, but doesn't change much on the delivery side, yet.

Nice to see some folks getting excited about the prospects here but maybe they shouldn't get too far beyond NTL is still an explorer looking for gold, they're not digging up gold, let alone refining and selling it. It's not clear yet whether NTL will be happy to just find the gold (if it's still there), or prove it's there and bail out to a mining company, or if they find it, push on to mining it themselves and try to refine and sell it.

From the ambition in the reporting, it looks like they want to go the whole nine yards, so you're right, it will take a lot more shareholder capital to get there, if they find and prove they have gold. One step at a time, this turnaround has yet to prove anything except that they can take over a company that might have some prospects. Good luck I say, but as an investment proposition it's still a long way from payback.

It will definitely be nice and refreshing to see this company actually get gold from the ground, but the pace is ridiculously slow and the cash burn itself is killing the prospect. Perhaps they might be in luck when National get in next election and they get favorable policies to start their mining.

[Sideshow Bob]

Half Year Report

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/403944/385488.pdf

[Landyman]

"In the last quarter of this year we have continued our firm focus on detailed costings and planning for implementation of the strategic
plan – with the goal being the cost-effective production of gold. We hope to be able to make further firm announcements on this
before the end of the year."

Thats soon!

[Paint it Black]

"In the last quarter of this year we have continued our firm focus on detailed costings and planning for implementation of the strategic
plan – with the goal being the cost-effective production of gold. We hope to be able to make further firm announcements on this
before the end of the year."

Thats soon!

Exactly. The chairman also advised 'We are pleased to have confirmed that our original costings and assumptions remain realistic. '

It is encouraging to see the Board and Auditors have added current notes to the more historic end of Sept Report to keep shareholders fully appraised.

Hey Blizzard the gold is there all right in excess of 300,000 oz as confirmed in the JORC reports if you read back.

[Brain]

Many NZ companies have board of directors that turn up to meetings just to eat their lunch. Not the case with NTL.
This is a very very strong board.

[Paint it Black]

Many NZ companies have board of directors that turn up to meetings just to eat their lunch. Not the case with NTL.
This is a very very strong board.

Agree Brain, Good to see a lift on both exchanges today with decent volume not the sharesies low volume drip which constrains it. One hopes the market recognises how as James Cornell points out in his newsletter certain development companies with low valuations have investment opportunities heavily skewed to the right. Meaning the worst one can do is lose !00% if it becomes worthless while the best is a limitless profit if all goes well!

[Getty]

I was disappointed on my most recent pilgrimage to Karangahake, to be unable to access the site, to collect what used to be my annual dividend.
Ah well, l suppose what's bad for Getty, is good for all other shareholders.

Gltah.

[Landyman]

Getty, for a real gold mine, just become a director!!

[Getty]

Speaking of direction, Parker Schnabel of Gold Rush fame is on the prowl in NZ.
He has survived a traditional welcome, which included a guy in a wheelchair, and a skydive.

But is he up to the rigours of Karangahake, or will he fall into a big hole at Waihi?

Sky Discovery Channel for those that are interested,

[nztx]

Getty, for a real gold mine, just become a director!!


Any more spare spaces around the table ? - I would like to witness them counting out
all the huge number of ounces we have look heard rumour of in there :)

Also to make sure my good friend Getty gets his fair share of the Directors Fees pot :)

[Felonius]

Many NZ companies have board of directors that turn up to meetings just to eat their lunch. Not the case with NTL.
This is a very very strong board.

Agreed.
I have bought back in, having not been a shareholder since May '20.
Still speculative of course and they will need a cash issue sometime to fund "stage one" of their plans.

[Sideshow Bob]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/404466/386113.pdf

New Talisman is pleased to advise of significant progress towards the implementation of ourstrategic plan for the development of Talisman, as well as developments with our Vanuatuassets.A capital raise to finalise our return to mining and gold production is planned for January 2023.

Talisman
• NTL has today formally engaged Terra Firma to prepare the specific plans to besubmitted to Worksafe for recommencement of operations at Talisman Mine. This isa key milestone to be completed prior to our return to mining. Terra Firma hassignificant knowledge of Talisman mine and has experience in developingunderground gold mines in New Zealand.

• Terra Firma and other industry specialists have also worked with NTL on thedevelopment and review of the Strategic Plan for Talisman, mining methodologies andbudget. This plan aims to produce gold and generate revenues in the second half of2023, with positive cashflow by late 2023.

• The Schedule of Works includes formation of a Second Egress in conjunction with aBulk Sampling programme, adding valuable knowledge of the mines mineral resource.

• Innovative and feasible mining methods have been identified to classify oreunderground, thus minimising the quantity of material to be removed from the mine,thereby improving our environmental footprint and cost-efficiencies.

• Our goal is to produce a concentrate which can be refined to produce gold and silver.NTL may process this concentrate ourselves, or on sell it to third party refiners. Thisapproach solves the problem of the lack of a viable processing route that has beenone of the longstanding barriers for NTL to progress Talisman. The need to truck oreover large distances and through conservation land was a significant problem whichthe company believes it has potentially solved.

• The JORC table for Talisman and accompanying Competent Person’s Report can befound here https://www.newtalismangoldmines.co.nz/projects/talisman-project/geology/2b Gibraltar Cres, Parnell, Auckland 1052Office +64 9 303 1893Fax +64 9 303 1612info@newtalisman.co.nzPage |

2Vanuatu

• An Exploration Plan and high-level budget for the Santo Exploration Permit has beenprovided to experienced industry investors who have approached NTL with a view toworking together.

• The geology of the Santo area has similarities to the historically gold richCoromandel/Waihi goldfields and represents a significant opportunity for added valueas more is learnt about the mineral potential of the licence area.Capital Raise via a Rights Issue

• In order to progress Talisman towards the profitable production of gold NTL will needto complete its capital raise plans as initially signalled to market in April this year.• The Board has reviewed the Capital Raising methods open to it and determined that aRights Issue will be the fairest to all shareholders.

• Shareholding Directors intend to participate in the issue.• We expect to open the rights issue in mid January with full details of the terms will be confirmed then.

[Paint it Black]

Agreed.
I have bought back in, having not been a shareholder since May '20.
Still speculative of course and they will need a cash issue sometime to fund "stage one" of their plans.

Yes a rights offer raise in January is now to occur as just announced. No details on this but it potentially will result in a significant dilution of current shareholder value unless one participates which it says the management will do (ie indicating a large dilution). Disappointing that this needed to occur before any actual gold produced with the remaining $900K in the kitty. Some real physical progress would have greatly stimulated interest with the general public and existing patiently waiting holders. The announcement has little new in it from where NTL was 18 months ago - just more words. Terra Firma was previously working in the mine and doing the concentration inside the mine has been considered for many years. I trust the Board have thoroughly considered the impact of this announcement on existing shareholders.

[nztx]

Yes a rights offer raise in January is now to occur as just announced. No details on this but it potentially will result in a significant dilution of current shareholder value unless one participates which it says the management will do (ie indicating a large dilution). Disappointing that this needed to occur before any actual gold produced with the remaining $900K in the kitty. Some real physical progress would have greatly stimulated interest with the general public and existing patiently waiting holders. The announcement has little new in it from where NTL was 18 months ago - just more words. Terra Firma was previously working in the mine and doing the concentration inside the mine has been considered for many years. I trust the Board have thoroughly considered the impact of this announcement on existing shareholders.


Indeed .. can someone please put in the request to NZX that an extra decimal place will soon be required on their boards ;)

Think it might be safer to keep holding one's gold stashed a safe distance away across the ditch until the
dust clears :)

[blackcap]

Yes a rights offer raise in January is now to occur as just announced. No details on this but it potentially will result in a significant dilution of current shareholder value unless one participates which it says the management will do (ie indicating a large dilution). Disappointing that this needed to occur before any actual gold produced with the remaining $900K in the kitty. Some real physical progress would have greatly stimulated interest with the general public and existing patiently waiting holders. The announcement has little new in it from where NTL was 18 months ago - just more words. Terra Firma was previously working in the mine and doing the concentration inside the mine has been considered for many years. I trust the Board have thoroughly considered the impact of this announcement on existing shareholders.

I did see this part in their announcement today...

"In order to progress Talisman towards the profitable production of gold NTL will need
to complete its capital raise plans as initially signalled to market in April this year"

So this was already signalled back in April when they were looking to raise $3.5m but only got $1m as mentioned in the release.

Very good to see that management are going to put their own money into this venture, something previous management did not do.

[Paint it Black]

I did see this part in their announcement today...

"In order to progress Talisman towards the profitable production of gold NTL will need
to complete its capital raise plans as initially signalled to market in April this year"

So this was already signalled back in April when they were looking to raise $3.5m but only got $1m as mentioned in the release.

Very good to see that management are going to put their own money into this venture, something previous management did not do.

Yes but this was a capital raise not a rights offer. Remember last year a 2 for 1 renounceable rights offer was announced by Matt which was immediately cancelled by the new Board in October. This I applauded as it stopped the dilution. Now it is back in the frame presumably because the capital raise initiative only attracted Hamish Brown's initial $1 million contribution and the Board can now see a budget hole before gold is produced. I agree it is good management plan to put their own money into the venture but you are incorrect saying the previous management did not if you look through the historic Top 20 shareholder lists. Cross fingers the rights offer now comes off and the costs doing it are successfully recovered.

[blackcap]

Yes but this was a capital raise not a rights offer. Remember last year a 2 for 1 renounceable rights offer was announced by Matt which was immediately cancelled by the new Board in October. This I applauded as it stopped the dilution. Now it is back in the frame presumably because the capital raise initiative only attracted Hamish Brown's initial $1 million contribution and the Board can now see a budget hole before gold is produced. I agree it is good management plan to put their own money into the venture but you are incorrect saying the previous management did not if you look through the historic Top 20 shareholder lists. Cross fingers the rights offer now comes off and the costs doing it are successfully recovered.

I don't understand your point about dilution. Any capital raise (by whatever means), if shareholders do not participate, will cause dilution to shareholders.

[blackcap]

duplicate duplicate

[Felonius]

Re dilution.
I try to value the company based on it's market capitalisation.
At 0.002 cents per share the market cap. is about $6,500,000.
At 0.003 cents per share " " " " " $10,000,000.

If the cash issue raises say $3.5 million at 0.002 - 0.003 cents per share that will ADD up to $5,000,000 to the market cap.
A market cap of $15,000,000 for a gold explorer with a strong board, good prospects and money in the bank strikes me as well-priced.

Of course buying shares in NTL is NOT AN INVESTMENT !! - It is a punt.
As pointed out earlier I bought shares in the company recently.

[Felonius]

Re dilution.
I try to value the company based on it's market capitalisation.
At 0.002 cents per share the market cap. is about $6,500,000.
At 0.003 cents per share " " " " " $10,000,000.

If the cash issue raises say $3.5 million at 0.002 - 0.003 cents per share that will ADD up to $5,000,000 to the market cap.
A market cap of $15,000,000 for a gold explorer with a strong board, good prospects and money in the bank strikes me as well-priced.

Of course buying shares in NTL is not an investment - IT IS A PUNT.

As pointed out earlier I recently bought shares in the company.

[Paint it Black]

I don't understand your point about dilution. Any capital raise (by whatever means), if shareholders do not participate, will cause dilution to shareholders.

A rights issue will offer additional shares at a discount to the current SP in order to be attractive to investors. As an example if you own 2 apples currently each worth 12c and you are offered an additional apple for 6c then you will own 3 apples costing you a total of 30c or 10c each. However if you choose to not participate in the rights offer and stay with 2 apples then the market value of your apples has diluted by 2c from 12c to 10c. To complicate it, with a renounceable rights offer, the rights to participate may also be sold on the market which if done can reduce the dilution. Another effect of a rights offer is that the SP will drop, as has already happened this morning, as shareholders hedge their bets on the success of the offer as they are likely to be able to buy back in at a discounted price while investing elsewhere in the meantime.

[whatsup]

Re dilution.
I try to value the company based on it's market capitalisation.
At 0.002 cents per share the market cap. is about $6,500,000.
At 0.003 cents per share " " " " " $10,000,000.

If the cash issue raises say $3.5 million at 0.002 - 0.003 cents per share that will ADD up to $5,000,000 to the market cap.
A market cap of $15,000,000 for a gold explorer with a strong board, good prospects and money in the bank strikes me as well-priced.

Of course buying shares in NTL is NOT AN INVESTMENT !! - It is a punt.
As pointed out earlier I bought shares in the company recently.

RE dilution, this company has almost gone past dilution unless you are a new investor say 3 years, from here on out its about clawing something back after imo this company has been bent over by previous management, if we could only be mining things would be vastly different, soooooooo many c rs over the years !

[blackcap]

A rights issue will offer additional shares at a discount to the current SP in order to be attractive to investors. As an example if you own 2 apples currently each worth 12c and you are offered an additional apple for 6c then you will own 3 apples costing you a total of 30c or 10c each. However if you choose to not participate in the rights offer and stay with 2 apples then the market value of your apples has diluted by 2c from 12c to 10c. To complicate it, with a renounceable rights offer, the rights to participate may also be sold on the market which if done can reduce the dilution. Another effect of a rights offer is that the SP will drop, as has already happened this morning, as shareholders hedge their bets on the success of the offer as they are likely to be able to buy back in at a discounted price while investing elsewhere in the meantime.

I fully understand how a right issue works and the dilution this causes if a shareholder does not participate.

The company obviously needs money to get gold out of the ground. How do they achieve this without shareholders being diluted?

[Paint it Black]

I fully understand how a right issue works and the dilution this causes if a shareholder does not participate.

The company obviously needs money to get gold out of the ground. How do they achieve this without shareholders being diluted?

They either improve the SP by making credible progress which is bankable using the existing funds or negotiate capital on terms which effectively does not dilute and lower the SP.

[Felonius]

They either improve the SP by making credible progress which is bankable using the existing funds or negotiate capital on terms which effectively does not dilute and lower the SP.

Easier said than done I think.

This is an entirely new board with a great range of skills. Furthermore, those skills appear to be exactly what we need to overcome the challenges of creating a profitable goldmine.

I support NTL's plans to raise further capital at this stage. I will be more encouraged if the directors see fit to subscribe for significant parcels of shares in their own names.

[daveypnz]

Somewhat unrelated: I watched a show on discovery channel where Parker Schnabel was checking out gold mines in NZ. Reckons NZ has the most efficient gold mines in the world? Is that just spin for TV?

[Paint it Black]

Easier said than done I think.

This is an entirely new board with a great range of skills. Furthermore, those skills appear to be exactly what we need to overcome the challenges of creating a profitable goldmine.

I support NTL's plans to raise further capital at this stage. I will be more encouraged if the directors see fit to subscribe for significant parcels of shares in their own names.

I'm also happy we have a new board especially with Jonu leading the management with his focus and substantial skin in the game. As said before I would have much preferred the company had a few runs on the board before announcing a rights issue. It will be very interesting to see the price of the new shares and the number available to existing shareholders. If the market SP is down to 0.2c in January then the price of the new shares may well be lower and boosted with options to make them attractive. As you have just recently started purchasing NTL Felonius this will not affect you too much, if so far you have only purchased a modest number, but for substantial long term holders yet another raising before any gold is produced tests the enthusiasm. I'm comforted that Jonu with his personal substantial holding would be well aware of this and one assumes the board has consulted with Hamish Brown by far the largest shareholder before going ahead. However I don't believe the other 3 board members have substantial holdings and I wonder whether the board was initially unanimous to proceed now.

[airedale]

Hi Daveypnz, When one considers the number of gold mines in other countries around the world, and then look at the amount of gold produced in NZ, that seems like a truly bizarre claim.

[Landyman]

As much as I hate to see another rights issue, it seems to make sense. There would appear to be a lot of work still to go before being cashflow positive (2023, seems awesome), so rather they get the cash in the kitty before it runs dry which could cause delays/failure.

If Brown and Jonu are stumping up, happy days.

[kiora]

Who was asking about a good lawyer?
https://www.afr.com/markets/equity-m...ng%20investors.
https://www.afr.com/chanticleer/stoc...0230109-p5cbbn
https://www.afr.com/markets/equity-markets/get-him-on-a-plane-now-furious-judge-orders-stock-swami-to-court-20220628-p5axdr

[nztx]

Who was asking about a good lawyer?
https://www.afr.com/markets/equity-m...ng%20investors.
https://www.afr.com/chanticleer/stoc...0230109-p5cbbn
https://www.afr.com/markets/equity-markets/get-him-on-a-plane-now-furious-judge-orders-stock-swami-to-court-20220628-p5axdr

404: PAGE NOT FOUND
404: PAGE NOT FOUND

Finally got there before hitting the paywall :)

Did someone say somewhere here that there was a Crash Issue coming up ? ;)

[Paint it Black]

Agree if Brown and Jonu are stumping up it is happy days but I'm unsure how we will know the extent of this in the offer. Perhaps an offer at 0.15c heavily incentivised with options and/or loyalty bonus shares? It will need to be very attractive as there are no real runs on the board other than JORC reports. If the rights issue fails the Plan B options will be very limited so the stakes are high!

[nztx]

Agree if Brown and Jonu are stumping up it is happy days but I'm unsure how we will know the extent of this in the offer. Perhaps an offer at 0.15c heavily incentivised with options and/or loyalty bonus shares? It will need to be very attractive as there are no real runs on the board other than JORC reports. If the rights issue fails the Plan B options will be very limited so the stakes are high!


As the likelihood of a consolidation at some future point continues to grow, assuming it stays on the rails
without possible further issues

[Felonius]

Agree if Brown and Jonu are stumping up it is happy days but I'm unsure how we will know the extent of this in the offer. Perhaps an offer at 0.15c heavily incentivised with options and/or loyalty bonus shares? It will need to be very attractive as there are no real runs on the board other than JORC reports. If the rights issue fails the Plan B options will be very limited so the stakes are high!

I think that a rights issue at 0.03 cents per share with options attached would work. Although there are trades at 0.02 cents there is very little volume.

For example : a 1 for 3 cash issue at 0.03 cents per share with an attached option exercisable at 0.05 cents in two years time. The option would have an underlying value of perhaps 0.01 cents. Therefore that the underlying value of the offer would be approx. 0.02 cents.

Just a guess of course !!

[blackcap]

I think that a rights issue at 0.03 cents per share with options attached would work. Although there are trades at 0.02 cents there is very little volume.

For example : a 1 for 3 cash issue at 0.03 cents per share with an attached option exercisable at 0.05 cents in two years time. The option would have an underlying value of perhaps 0.01 cents. Therefore that the underlying value of the offer would be approx. 0.02 cents.

Just a guess of course !!

Hi very quickly, in my opinion, that will not work unfortunately. You can purchase NTL on the ASX at 0.02 and trades there have been going through at either 0.0015 or 0.002 Nearly all trades in NZ are going through at 0.002.

[Felonius]

Hi very quickly, in my opinion, that will not work unfortunately. You can purchase NTL on the ASX at 0.02 and trades there have been going through at either 0.0015 or 0.002 Nearly all trades in NZ are going through at 0.002.

Yes you can buy at 0.02 cents, but as I pointed out above, only very small volumes are available.

[Sideshow Bob]

Yes you can buy at 0.02 cents, but as I pointed out above, only very small volumes are available.

ASX listing must be a bit pointless?? Should save themselves some dosh.....

[nztx]

ASX listing must be a bit pointless?? Should save themselves some dosh.....


Does the former MD/CEO still have an accumulation he still wants to liquidate ? :)

can't take our entertainment away early :)

[nztx]

Happened to see this posted on HC before Christmas, which brought a chuckle -


Some gold from Santa would be so very very nice, now that the board is full of nice people. All the naughty people have gone.

[Landyman]

I believe he sold out - I really really hope he has, and that NTL gets going - let old Matty squirm over missed millions $$$$$$$$$$$$$$

[Landyman]

8.3m shares at 0.003 today - maybe just a transfer between related parties - or was it on market purchase - big for NTL small volumes

[blackcap]

8.3m shares at 0.003 today - maybe just a transfer between related parties - or was it on market purchase - big for NTL small volumes

Strange that they did not first purchase 1.6m of these shares at 0.02 on the ASX. Looks like an on market crossing. The sell side has reduced by about 8m from where it was yesterday.

[swissboy]

Now there is only A $2545.92 available in Aussie so somebody knows something.

[nztx]

8.3m shares at 0.003 today - maybe just a transfer between related parties - or was it on market purchase - big for NTL small volumes

about $25k, so not huge amounts dollarwise

[Landyman]

And another day of big buying - big for NTL is small for others. Hmmmmm, interesting.

[Weta]

And another day of big buying - big for NTL is small for others. Hmmmmm, interesting.

Does seem a bit odd.

Why spend NZD $30K on the NZX for 10m shares when you can buy the same 10m shares on the ASX for AUD $26,347 = NZD $28,637 NZD (in the current depth)?

Well worth it for a savings of NZ $1,363 in my opinion.

Or try to save even more and dump a buy order on the ASX @.002 for the 10m shares, get about 1/3 filled immediately & wait for the remainder to get filled. Could up to .003 later if you get impatient.

[clip]

ASX seems a lot more illiquid, so maybe harder to get rid of. Only thing I can think of

[blackcap]

ASX seems a lot more illiquid, so maybe harder to get rid of. Only thing I can think of

That argument would hold, but if you have time, you can always get your "Australian" shares transferred to the NZ register. (to get rid of them easier)

[clip]

That argument would hold, but if you have time, you can always get your "Australian" shares transferred to the NZ register. (to get rid of them easier)

Did not know that, thanks!

[clip]

Something up ? Another 20m shares bought and 0.003 almost gone now, less than 1m left
/edit now gone and with 10m shares on the buy side at .003

[Paint it Black]

Something up ? Another 20m shares bought and 0.003 almost gone now, less than 1m left
/edit now gone and with 10m shares on the buy side at .003

All the 0.3c sell offers all gone now. Something is up all right before the rights offer conditions are announced. Some disclosures should be published soon if they are directors or major shareholders. Very positive news that significant purchases are being made.

[blackcap]

All the 0.3c sell offers all gone now. Something is up all right before the rights offer conditions are announced. Some disclosures should be published soon if they are directors or major shareholders. Very positive news that significant purchases are being made.

With the quarterly to 31 December due out by the end of January I think, (correct me if I am wrong) that would preclude Directors or management from buying any shares I would have thought. So I don't think we will see disclosures unless a shareholder got over the 5% mark but these volumes, although significant for NTL are not that large in the SSH scheme of things.

[Paint it Black]

With the quarterly to 31 December due out by the end of January I think, (correct me if I am wrong) that would preclude Directors or management from buying any shares I would have thought. So I don't think we will see disclosures unless a shareholder got over the 5% mark but these volumes, although significant for NTL are not that large in the SSH scheme of things.

Hamish Brown has well over 10% (or used to) and cannot see any reason precluding directors buying before a quarterly is published as long as they disclose. $90K buys in one day is the largest crossing I can remember in at least a year.

[nztx]

Biggest % increase on NZX so far today ?

Has a hidden motherlode been discovered already somewhere or has the former CEO
finally woken up to having left something good behind ? ;)

[Paint it Black]

Still all quiet on the Rights Issue conditions after the announcement it would be mid January. Also no disclosures released on the recent larger than usual buys so one assumes they are from non directors and not Hamish. With the December quarterly due at the end of January we will know soon whether there is a reason for the delay. Possibly just post Xmas Break admin delays but also possibly further consideration is now underway as to the price and timing of a cash raise?

[nztx]

Looks like a decent 50 million + wanting to be unloaded in OZ

The balloon looks to have already gone up and wind has fallen out of the sails over the way ;)

If things get desperate it might turn into a 1/10 of a cent bun scramble for a bit of the action ;)

[swissboy]

Details of Capital raise by Mid-January a bit of a stretch

[nztx]

0.2¢ Change
0.000(0.00%)
Mkt cap ! $6.254M


$6.25m ASX Cap - at what level do smallcaps falling off the radar get shown the door over there ? ;)

[Paint it Black]

$6.25m ASX Cap - at what level do smallcaps falling off the radar get shown the door over there ? ;)

Agree. Have been saying for some time now NTL should ditch the ASX listing. Let the aussies buy on the NZX. Expensive and it constrains the NZX SP.

With the long weekend surely we will hear more about the delayed rights issue today?

[Landyman]

Progressed the required documentation for the Rights Issue with the
intention now being to open the Rights Issue to Shareholders in February 2023.

$490k left in the bank at the end of the quarter

Still stating "This plan aims to produce gold and generate revenues in the second half of 2023, with positive cashflow by late 2023".

[whatsup]

Progressed the required documentation for the Rights Issue with the
intention now being to open the Rights Issue to Shareholders in February 2023.

$490k left in the bank at the end of the quarter

Still stating "This plan aims to produce gold and generate revenues in the second half of 2023, with positive cashflow by late 2023".

Guesses as to what will the rights and conditions be ( oppies attached etc ) ??

[Paint it Black]

Guesses as to what will the rights and conditions be ( oppies attached etc ) ??

Guesses they remain for sure. The 21/12/22 Update from NTL said 'We expect to open the rights issue in mid January with full details of the terms will be confirmed then.' so being deferred to February suggests either the Board remains undecided while they were waiting on more costings, or they have noted the SP and gold price firming and wanted to delay a little to not make the offer as generous, or they simply have not got their act together. I'm disappointed that an acknowledgement and reason for the announcement delay has not been given as without one I assume the latter.
My latest guess is a 0.25c purchase price on a 1 for 2 renounceable with a similar number of options expiring in 2 years time at 0.5c.

[Snow Leopard]

Why are they doing a 10 to 1 consolidation?
It will still be a penny dreadful.

I would have thought 100 to 1 or more would be a more sensible ratio.

[Dlownz]

Looks better for tha capital raise

[Paint it Black]

Why are they doing a 10 to 1 consolidation?
It will still be a penny dreadful.

I would have thought 100 to 1 or more would be a more sensible ratio.

Good point. It would be simpler to divide by 100 and trade in whole numbers. With 1 to 10 presumably decimal fractions will be permitted ie 3.1c etc like BLT but still messy. May be leading to a 2.5c offer in the rights issue?

[Landyman]

And no mention of delisting from ASX.

Decent volumes again, giving lack of usual volume in NTL.

[nztx]

Why are they doing a 10 to 1 consolidation?
It will still be a penny dreadful.

I would have thought 100 to 1 or more would be a more sensible ratio.


Too many unmarketable parcels if 100 to 1 consolidation .. many might jump out or lose interest

100 for 1 would result in just short of 32 m shares on issue

Go too fierce on a consolidation - it may reduce success chances on a CR
forcing the company to find new homes in a placement issue instead if rights
issue saw low uptake.

How does between 2.0c & 3.0c look as a SP post consolidation for NTL ?

ASX: just after 10 am Aust time 0.001 Buy 0.002 Sell

How many will stay & how many will jump off on ASX with consolidation then prospect
of a Cap Raise ?

[blackcap]

And no mention of delisting from ASX.

Decent volumes again, giving lack of usual volume in NTL.

Why would you delist from the ASX when you are doing a capital raise. Completely alienate a large chunk of your shareholder base. That would not be that sensible I would have thought.

[Snow Leopard]

Too many unmarketable parcels if 100 to 1 consolidation ....


"Issuers of securities on the NZX enforce their own minimum holding requirements. Where an issuer has not specified a Minimum Holding, then there is no required minimum."

1000 @ $0.003 is as unmarketable as 10 @ $0.30.

[nztx]

"Issuers of securities on the NZX enforce their own minimum holding requirements. Where an issuer has not specified a Minimum Holding, then there is no required minimum."

1000 @ $0.003 is as unmarketable as 10 @ $0.30.


always the cost of maintaining small holdings on the share register with reports communications etc
comes into play, especially with small companies with limited resources.

Who knows .. I suggested a consolidation was on the cards with NTL some time ago, looking at smaller
uneconomic holdings may well be another move in future, which makes sense :)

[nztx]

always the cost of maintaining small holdings on the share register with reports communications etc
comes into play, especially with small companies with limited resources.

Who knows .. I suggested a consolidation was on the cards with NTL some time ago, looking at smaller
uneconomic holdings may well be another move in future, which makes sense :)


How many smaller parcels will NTL continue to tolerate on their share registry until they decide to
do a clean up ? ;)

[Paint it Black]

Why would you delist from the ASX when you are doing a capital raise. Completely alienate a large chunk of your shareholder base. That would not be that sensible I would have thought.

NTL I understand could delist shares from the ASX and automatically relist the same number on the NZX subject to ASX approval. This has been done the other way round recently with DGL. I agree not the best time to do it while doing a capital raise but I hope the Board will review at the Aussie Rights uptake and overall split between the two exchanges and seriously consider the benefit in having the dual listing.

[HemiB]

Is it a bit ironic that they want us to believe them when they say they will produce gold in H2 and be cash flow positive late in 2023 but can’t even get the rights offer out when they say they will 🤔

[Landyman]

THe olde share portfolio was looking good this morning on NTL - share consolidation in place - always knew NTL would be a 10x bagger - hahahah

[whatsup]

NTL in a T Halt in Aust until Thursday , why not N Z ?

[winner69]

NTL in a T Halt in Aust until Thursday , why not N Z ?

Halted in NZX

[whatsup]

Cons completed and the fall continues !!

[ThaiJohn]

Might see a reversal when they produce some of the gold stuff. Until then the SP aint goin anywhere.

[Paint it Black]

Cons completed and the fall continues !!

As you would expect with the up coming rights offer having to be tempting enough to buy into. Sometime in February. I wonder if the Board has found an underwriter? At least now we are dealing in SP increments a tenth of that previously. A damned pity they can't delay and spice the offer up with an ingot or two from the remaining funds!

[blackcap]

As you would expect with the up coming rights offer having to be tempting enough to buy into. Sometime in February. I wonder if the Board has found an underwriter? At least now we are dealing in SP increments a tenth of that previously. A damned pity they can't delay and spice the offer up with an ingot or two from the remaining funds!

I agree with your sentiments, but I doubt there would be enough funds available to get an ingot currently and that is why they have signaled a rights issue.

[Paint it Black]

I agree with your sentiments, but I doubt there would be enough funds available to get an ingot currently and that is why they have signaled a rights issue.

Yes but wind back to September 2021 when Jonu cancelled the proposed rights issue by Matt. What has happened since? Additional Board members who I worry are being too conservative. Without the ingots the rights issue is yet again going to rely on JORC reports and lots of pretty words as in the past and is in danger of failing unless seriously underwritten (which I doubt). Better imho would have been to focus on how some gold extraction could be achieved with the $500K still available. This is a significant sum and surely enough to obtain an ingot or two! Jonu has said his focus was gold extraction but unfortunately he has now become distracted doing a consolidation then a rights issue costing precious funds. The success of the rights issue would have been greatly improved with some tangible evidence punters can get excited about.

[jonu]

Yes but wind back to September 2021 when Jonu cancelled the proposed rights issue by Matt. What has happened since? Additional Board members who I worry are being too conservative. Without the ingots the rights issue is yet again going to rely on JORC reports and lots of pretty words as in the past and is in danger of failing unless seriously underwritten (which I doubt). Better in imho would have been to focus on how some gold extraction could be achieved with the $500K still available. This is a significant sum and surely enough to obtain an ignot or two! Jonu has said his focus was gold extraction but unfortunately he has now become distracted doing a consolidation then a rights issue costing precious funds. The success of the rights issue would have be greatly improved with some tangible evidence punters can get excited about.

Hi Paint it Black

I'm John Upperton, a Director of New Talisman.

I appreciate you are genuine in your post and not merely stirring the pot, but there are some factual inaccuracies I should respond to. I am not in a position to get into a back and forth debate with you, but may respond more fully in the future.

I did not cancel the previous Rights Issue. That was done by the Chair at the time, who is no longer on the board, and was not my call. The cancellation resulted in a small amount of funds being returned.

The 500k you refer to is not enough to comply with required regulatory requirements, return underground, produce ore and refine to ingots, while remaining solvent and meeting the listing requirements of the exchanges.

We have not been distracted by a consolidation. There are reasons why this was required.

Rest assured the Board is focused on bringing Talisman into production. It has been 16 months since the Boardroom coup. There were sundry legacy issues to deal with that won't be immediately obvious to shareholders. They have been dealt with. I'll leave it at that.

I appreciate the patience and support I have had from many posters here.

Cheers Jonu

[nztx]

Hi Paint it Black

I'm John Upperton, a Director of New Talisman.

I appreciate you are genuine in your post and not merely stirring the pot, but there are some factual inaccuracies I should respond to. I am not in a position to get into a back and forth debate with you, but may respond more fully in the future.

I did not cancel the previous Rights Issue. That was done by the Chair at the time, who is no longer on the board, and was not my call. The cancellation resulted in a small amount of funds being returned.

The 500k you refer to is not enough to comply with required regulatory requirements, return underground, produce ore and refine to ingots, while remaining solvent and meeting the listing requirements of the exchanges.

We have not been distracted by a consolidation. There are reasons why this was required.

Rest assured the Board is focused on bringing Talisman into production. It has been 16 months since the Boardroom coup. There were sundry legacy issues to deal with that won't be immediately obvious to shareholders. They have been dealt with. I'll leave it at that.

I appreciate the patience and support I have had from many posters here.

Cheers Jonu

Keep up the good work - Jonu & fellow NTL Board members

Many have been onboard a long time since the days of Peter Atkinson
awaiting what your team are heading towards achieving..

[Paint it Black]

Thanks Jonu for filling in the background around the Rights Offer cancellation - I can assure you I'm not stirring the pot having been a passionate Top 20 shareholder for many years (up to when I read about the latest Rights Offer but still hold quite a few to possibly participate) and one who applauded the Coup. I also do not want to get into a back and forth debate, as I know it is now difficult for you, but would just like to expand on the reasoning I thought it was your decision and I've attached the announcement re the Rights cancellation on the 8/10/21 below to assist a quick read.

8th October 2021
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(ASX, NZX: NTL, NTLOB)
FOR IMMEDIATE RELEASE

Shareholder Update - Rights Offer

In light of recent changes to the Board composition that have occurred it has
become apparent there are differing views, and some discord, amongst the
reconstituted board about the broader direction of the company, which
prompted the application for a trading halt.
The Board met on 7 October for a lengthy discussion on these and other
matters and reached the conclusion that the reconstituted Board are no longer
confident that the strategy outlined in the Rights Offer document can be
fulfilled in a timely manner, as was anticipated by the previous Board.
The Company has therefore decided to withdraw the Rights Offer until such
time as a clear and united path forward can be found at which point it can
revisit its capital requirements and any capital raising plans.
All funds received by the company pursuant to the withdrawn Rights Offer will
be returned.

Ms Jane Bell
Company Secretary
New Talisman Gold Mines Limited
Direct +64 21 764 224
jane@newtalisman.co.nz

You would be aware Stevens retired the day before and Chairman Nader on the same day as the cancellation announcement. Jane and Matt then resigned on the 11/10/21. It therefore seems reasonable to believe it was your influence, if not your actual decision (my apologies for being simplistic here), that the Board (not Nader) decided to cancel the Issue as all the long serving remaining Board members (who had previously wanted the Rights Issue) resigned either the same day or shortly after.

As the man at the centre of the Boardroom Coup you obviously know far more of the background than I do! I can only go on what I read in the announcements and try and join the dots. If you can respond more fully in the future it would be appreciated but no hurry!

I hear what you are saying re the limitations of the $500K to meet regulatory requirements etc etc but was suggesting more focus was applied to extract and process just a small amount of ore to best physically prove to shareholders who are considering participation, after waiting for decades and weathered several Rights Offers and false expectations, that gold can be produced from the mine. Some time in the future I would also welcome understanding why this approach was not followed. Possibly it is triggering the Bulk Sampling window which makes this awkward or new safety issues?

Thanks again.

[Landyman]

Nice to see you post here Jonu - also enjoy that you were clear who you are (Matty, you still watching this board?). Good luck, you have given us some hope and some clear milestones for 2023 - fingers crossed you can pull it off.

Discl, my holidings are very modest, but after 15yrs of HGD/NTL, surely this will be the last CR, last throw of the dice.

[blackcap]

Nice to see you post here Jonu - also enjoy that you were clear who you are (Matty, you still watching this board?). Good luck, you have given us some hope and some clear milestones for 2023 - fingers crossed you can pull it off.

Discl, my holidings are very modest, but after 15yrs of HGD/NTL, surely this will be the last CR, last throw of the dice.

Yes I agree, it would be nice to see John posting more about the progress of the company and where they are at. NZO used to have John Pagani employed in that role and he would explain things on this forum. The CEO of Turners, Todd Hunter, also posts on sharetrader. It is nice to have company insiders (with full disclosure) explain points that would otherwise remain elusive from company announcements only.

Maybe John you can be a more regular contributor on this thread?