NTL - New Talisman Mine - New board & Directors

[Paint it Black]

Rights offer announced buying at NZ1.8c for 3 out of 5 held. Very generous but also another large dilution to the faithful who have held on and those who recently paid 3c and even 4c.

[Snow Leopard]

Another 191M shares putting $3M4 in the piggy bank if fully subscribed.

In theory would be worth 2.1c a share after all done & dusted.

[Felonius]

Thank you John for entering onto the chat site with your comments. Such a big help in enabling us to obtain a clearer picture ...

Re the cash issue.
The combination of a low issue price for the shares at 1.8 cents per share and NO options suggests to me that our Board does not wish to issue any more shares than necessary (down the line) by offering options. In other words, they are trying to keep the issued capital as tight as possible.
This is good capital management.

[whatsup]

So WTF did those fish heads do for their money over the last 10 years ? !!

[Felonius]

So WTF did those fish heads do for their money over the last 10 years ? !!

It really is time to change your tune.
This is an entirely new board and I am impressed with the new directors.

[whatsup]

It really is time to change your tune.
This is an entirely new board and I am impressed with the new directors.

As a constant owner of Crusader Minerals from circa 1985/6 which has morphed via several name changes into its present NTL I think that I have every right to ask that question, I am a very patent ( read stupid s/holder ) who has subscribed to numerous C R funding rounds since that date and have every right to ask about director/fish head performance, my cheques did not bounce so why should their performance/duties. !!

[ThaiJohn]

I agree with you whatsup. I too would like to know what the previous 'fish heads' did for the last 10 years.

[Paint it Black]

Another 191M shares putting $3M4 in the piggy bank if fully subscribed.

In theory would be worth 2.1c a share after all done & dusted.

So the die is now cast and the stakes are very high for the survival of NTL. Large shareholders such as Hamish and Jonu have seen the market value of their holdings reduced by 25% today and if the rights offer is not subscribed adequately can lose much more. As it pleasingly is an uncomplicated offer without options (they have never been exercisable with NTL in the past) and imho pitched at a very discounted price I think it is a good throw of the dice especially with all the 'skin in the game'. It is now up to the Board to sell the offer in the best possible way well before the 10/3/23 Closure Date. Shareholders should be given a cashflow projection through the next year based on the finalised budget forecasts to show how the $3.4M would be utilised if fully subscribed. What are the consequences if there is only a 50% uptake? Is there any underwriting (cannot see it)? Has a processor been found. How advanced is the concentrator etc? In these times no one will throw good money after bad so we need to be confident it will come off. Fingers and toes crossed!

[Sideshow Bob]

Rights offer documents

https://www.nzx.com/announcements/406543

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/406543/388315.pdf
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/406543/388316.pdf

[Not too Flash]

Promising details in announcement - and with the largest shareholders committed 20% already accounted for ...

[Landyman]

Good that Jonu is participating, not sure how many shares the rest of the Board hold though. If Hamish Brown is stumping up, then happy days.

I do like the admission that if the CR is unsuccessful, that NTL will have few options left.

[Not too Flash]

The announcement said - NTL has also received indications from its two largestshareholders that they intend to participate in the issue - Hamish Brown 13.48%

[swissboy]

My name is Flin and I am in. I read it that you may get more if you like.

[Felonius]

Thank you S-S Bob for uploading the offer documents.

If the cash issue is fully subscribed there will be about 511 million share on issue.
At 2 cents per share the market capitalisation of NTL will approximate $10 million.

Question 6 in "Frequently Asked Questions" provides cashflow estimates which vary according to production and grades of gold.
These estimates should be considered in relation to the $10 million market cap.

If the grades & production are at the higher end of estimates (or above) then we may be in for a bonanza.
Otherwise - too bad. We always knew it was a risky proposition.

Good luck!

[Antipodean]

While it has been many years since I invested in NTL, noting its new board and executive I would like nothing more than for it to be successful. Both for itself and for the current shareholders.

Reading the offer documents now I feel the temptation to get back in but I don't know if I have the same risk appetite I did back then.

[Curly]

Having already been stung from my previous multi mil holding having sold out at .004 prior to consolidation, I still follow with interest. Electing however, to no longer gamble. All the best to existing sharehlders

[Antipodean]

I'm hoping that multi mil was referring to # of shares and not $... either way is painful though

[Paint it Black]

Thank you S-S Bob for uploading the offer documents.

If the cash issue is fully subscribed there will be about 511 million share on issue.
At 2 cents per share the market capitalisation of NTL will approximate $10 million.

Question 6 in "Frequently Asked Questions" provides cashflow estimates which vary according to production and grades of gold.
These estimates should be considered in relation to the $10 million market cap.

If the grades & production are at the higher end of estimates (or above) then we may be in for a bonanza.
Otherwise - too bad. We always knew it was a risky proposition.

Good luck!

Although Market Cap is interesting for company valuation cashflow as you no doubt know is key. The cashflow forecasts in FYI 6 do not cover the overheads before the end of the 2nd quarter when mining begins, and the lag getting the processing underway, but presumably the $500K in the kitty covers this off. All in all as you say the grades and production rates are critical to success. With 7,000t/annum anything over 8g/tonne Au puts the company comfortably in profit. The strategy announced is to initially focus on the Mystery Vein where the offer documents and annual reports advise where the most prospective ore sits. Here grades from chip samples up to 39g/tonne Au and 25g/tonne bullion, which is more of an average to measure the overall inferred quantity in the vein, are reported (but one needs to read the cautionary notes in FYI 7).

There is significant risk but there is a much larger upside. Although there is no formal underwriter, and it is obviously pure speculation, I sense the directors and Hamish will contribute enough to make it happen, if there is a reasonable uptake, as they best understand the risk and are very aware of the upside.

[Felonius]

There is significant risk but there is a much larger upside..

Agreed.
In my view the risk/ reward ratio warrants a punt.

[Baa_Baa]

Agreed.
In my view the risk/ reward ratio warrants a punt.

I'm over 'punting' on this one, I need to see 'proven' gold and would pay ten times the share price if that happened, setting the company up to move from explorer to producer, or maybe a takeover from a company that knows how to get the gold out of the ground at scale, and to market.

GLTAH

[tim23]

I'm over 'punting' on this one, I need to see 'proven' gold and would pay ten times the share price if that happened, setting the company up to move from explorer to producer, or maybe a takeover from a company that knows how to get the gold out of the ground at scale, and to market.

GLTAH
I concur- I’ve owned NTL and Heritage Mining as it was called before. Nowadays for me it’s SMI on the ASX.

[nztx]

I concur- I’ve owned NTL and Heritage Mining as it was called before. Nowadays for me it’s SMI on the ASX.


Likewise here too & into SMI now

[frogkiwi]

Trading halt announcement

NZ RegCo advises that it has placed a trading halt on New Talisman Gold Mines Limited ("NTL") ordinary shares. The halt was placed at 2.53pm today, Tuesday, 14 February 2023.
The trading halt has been put in place pending the release of an announcement from the issuer. The trading halt will remain in place until the release of the announcement or market open on Thursday, 16 February 2023
Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com with any queries.

[Not too Flash]

Trading Halt ??

- doesn't seem to be for the Capital Raise ??

[Paint it Black]

Trading Halt ??

- doesn't seem to be for the Capital Raise ??

I hope Cyclone Gabby is not creating problems at the mine. The Karangaheke Gorge road is closed for starters.

[n908671]

I hope Cyclone Gabby is not creating problems at the mine. The Karangaheke Gorge road is closed for starters.

Maybe a huge slip has revealed a huge vein of gold?

We can only hope.

[swissboy]

Speculation but you might be right. I hope not.

[HemiB]

There’s more information on the ASX announcement. Halt because the rights offer isn’t compliant by the looks

[nztx]

Gold washed out to the Mine entrance ? ;)

[clip]

Maybe with production starting this year they are getting a takeover 🤔 👀 🤣

[nztx]

Maybe with production starting this year they are getting a takeover �� �� ��


Interesting thought - could it be Oceania, MacRaes, SMI or a privatisation buy out by the major holders ? :)

Or even the Chinese mystery investor who lost their cheque book when it came time to stump up some time back ? :)

[nztx]

https://www.nzherald.co.nz/nz/cyclone-gabrielle-karangahake-gorge-residents-say-its-like-being-stranded-on-an-island/VTJU4XLUT5F57PPKPZI5EOHXYA/?dicbo=v2-erh4paf&&ref=topbox

Cyclone Gabrielle: Karangahake Gorge resident say it’s ‘like being stranded on an island’


A Karangahake Gorge resident, who asked not to be identified, said: “The Gorge river is the highest it’s ever been since we moved here six years ago.”

The resident said she had been told the height of the flooded river at 12.30am today was 17.1m.

In floods in 1981, the river reached 18.66m.


From memory - some of the lower levels of the Mine were susceptible to flooding / water levels
if I remember correctly

How would they be faring in high flood conditions now ?

How is the access bridge & track faring ?

Any Slips / Access issues ?

[Fundamentalfinder]

The ASX halt says it’s because the rights offer doesn’t comply. Would this be why it’s halted on NZX too?

[Paint it Black]

The ASX halt says it’s because the rights offer doesn’t comply. Would this be why it’s halted on NZX too?

Presumably - I've attached below some background on the Rule 5.16 the ASX were concerned about.

Mining Entities listed on the ASX considering reporting Production Targets need to address, among other things, ASX's Listing Rule 5.16 (LR 5.16). LR 5.16 includes special reporting requirements for Production Targets, especially when those targets are underpinned by more uncertain estimates of minerals (e.g. Exploration Targets, and/or Inferred Mineral Resources).

Consequently the revised offer has eliminated the cashflow and production rates forecasting including the silver.

Pretty pedantic from our friends across the ditch imho!

[nztx]

Presumably - I've attached below some background on the Rule 5.16 the ASX were concerned about.

Mining Entities listed on the ASX considering reporting Production Targets need to address, among other things, ASX's Listing Rule 5.16 (LR 5.16). LR 5.16 includes special reporting requirements for Production Targets, especially when those targets are underpinned by more uncertain estimates of minerals (e.g. Exploration Targets, and/or Inferred Mineral Resources).

Consequently the revised offer has eliminated the cashflow and production rates forecasting including the silver.

Pretty pedantic from our friends across the ditch imho!

What is the minimum ASX Cap level for listings over there ?

[Daytr]

Rightly so to by the ASX. Putting out estimates based on inferred modeling is no basis at all. I hope it works out for everyone, but the capital raising needs to be framed honestly, that it is buying time and capital to see what actual gold is there and in high grade vein deposits the only way is to extract the ore to find out. Very much reminds me of the Gympie mine in Queensland. Unfortunately it appears the only option is to double down.Good luck to everyone.

[Paint it Black]

Rightly so to by the ASX. Putting out estimates based on inferred modeling is no basis at all. I hope it works out for everyone, but the capital raising needs to be framed honestly, that it is buying time and capital to see what actual gold is there and in high grade vein deposits the only way is to extract the ore to find out. Very much reminds me of the Gympie mine in Queensland. Unfortunately it appears the only option is to double down.Good luck to everyone.

NTL stated they were providing 'different cashflow scenarios' not estimates. A big difference and they are being honest.

[Daytr]

That's like saying. If we drill and find this much gold it means $X. The ASX which is much more attune to mining stocks than the NZX didn't like it for a valid reason. Anyhoo good luck to all holders.

[Paint it Black]

That's like saying. If we drill and find this much gold it means $X. The ASX which is much more attune to mining stocks than the NZX didn't like it for a valid reason. Anyhoo good luck to all holders.

There are the audited JORC reports, and we know NTL have already put a lot of effort into developing their budgets, so much more advanced than plucking numbers out of fresh air as you suggest. Pity the Australians on the previous Board didn't put their vast experience to any use except disastrously lower the SP. It's now up to NZ jurisdictions and the NZ run Board to try and tidy up the mess. I wonder if the ASX is offering any assistance with this?

[Daytr]

They are inferred resources. I had a previous life of financing gold mines in Australia so what would I know. Don't get me wrong the upside is significant, but it's a punt and should be viewed as such. The ASX rightly so doesn't view punts as valid estimates. Shame they have halted trading as it would give new investors to take the opportunity for a punt and those who don't want to the chance to exit.

[Paint it Black]

They are inferred resources. I had a previous life of financing gold mines in Australia so what would I know. Don't get me wrong the upside is significant, but it's a punt and should be viewed as such. The ASX rightly so doesn't view punts as valid estimates. Shame they have halted trading as it would give new investors to take the opportunity for a punt and those who don't want to the chance to exit.

Just for accuracy the JORC reports for the mine describe significant 'indicated' resources as well as 'inferred'. I've attached a reference describing the difference and how an 'indicated' resource importantly represents sufficient information to support mine planning. Perhaps we can therefore elevate 'punt' to 'educated punt'?


Inferred resources are estimated using limited geological evidence and sampling information, which means there’s not enough confidence to evaluate the project’s economic viability.

Subsequent surveys might uncover new information allowing a resources to be upgraded to “indicated“, meaning a company has sufficient information on geology and grade continuity to support mine planning.

[Baa_Baa]

Just for accuracy the JORC reports for the mine describe significant 'indicated' resources as well as 'inferred'. I've attached a reference describing the difference and how an 'indicated' resource importantly represents sufficient information to support mine planning. Perhaps we can therefore elevate 'punt' to 'educated punt'?


Inferred resources are estimated using limited geological evidence and sampling information, which means there’s not enough confidence to evaluate the project’s economic viability.

Subsequent surveys might uncover new information allowing a resources to be upgraded to “indicated“, meaning a company has sufficient information on geology and grade continuity to support mine planning.

Look PIB, you can defend this all you want, but there are people here who are very experienced in investing in precious metals mining, and some who have been around this company for over 20 years and it's all come to nothing, so far.

In fact it has been a very unrewarding experience. Sure, we have new bosses and that's encouraging. This time might be different but semantics won't change that this company is running out of capital and still needs to arouse its investors by 'proving' it has gold, and again they need more money to do that. To prove it.

That's what some investors, maybe the big money, will want, not probable, not inferred, or any other such nebulous description for 'we don't really know, but we need money to prove it to you'. If you want to put up a stake to help them 'prove it', good on you.

I don't, it's been too long and too uncomfortable to 'invest' any more $ in this. We have absolutely nothing more now, than we have had for many years, to give any confidence that this company has gold, can dig it up, can process it, or get it to market. Nothing. Think about it. Nothing. Just a new management. Is that enough?

[Paint it Black]

Look PIB, you can defend this all you want, but there are people here who are very experienced in investing in precious metals mining, and some who have been around this company for over 20 years and it's all come to nothing, so far.

In fact it has been a very unrewarding experience. Sure, we have new bosses and that's encouraging. This time might be different but semantics won't change that this company is running out of capital and still needs to arouse its investors by 'proving' it has gold, and again they need more money to do that. To prove it.

That's what some investors, maybe the big money, will want, not probable, not inferred, or any other such nebulous description for 'we don't really know, but we need money to prove it to you'. If you want to put up a stake to help them 'prove it', good on you.

I don't, it's been too long and too uncomfortable to 'invest' any more $ in this. We have absolutely nothing more now, than we have had for many years, to give any confidence that this company has gold, can dig it up, can process it, or get it to market. Nothing. Think about it. Nothing. Just a new management. Is that enough?

Baa Baa all I want is accuracy and fair comment so that readers do not get misled and I'm not necessarily defending the current Board in fact the opposite sometimes. I've have had shares in the company for close to 20 years and attended many of the AGM's including those back in the HGD days in Parnell. Maybe you were there too? I agree with much of what you say. NTL is up against it without any gold on the table but perhaps it is worth a final try. I'll leave it that.

[blackcap]

Baa Baa all I want is accuracy and fair comment so that readers do not get misled and I'm not necessarily defending the current Board in fact the opposite sometimes. I've have had shares in the company for close to 20 years and attended many of the AGM's including those back in the HGD days in Parnell. Maybe you were there too? I agree with much of what you say. NTL is up against it without any gold on the table but perhaps it is worth a final try. I'll leave it that.

Reading the offer documents, I get the impression that the company is now focused on Mystery Vein, (they have gotten rid of distractions, settled with Matt Hill, cleaned up administrative overhang and are running a streamlined operation. They are going to give it a crack, and see if they can get gold out of the mine. They realise that is what is required, ie proof of concept, and they stated somewhere that this will be the last roll of the dice (my words but that is what I get from it).

That would be a whole lot better than playing it out and stringing shareholders along for perpetual cap raises like the previous lot seemed to do.

[blackcap]

Shame they have halted trading as it would give new investors to take the opportunity for a punt and those who don't want to the chance to exit.

I think you will find that trading has been restarted, in fact you could trade all day yesterday if you so wished.

[Daytr]

Thanks Blackcap & I pretty much agree with your assessment above. Any word on where they are going to get the extracted ore processed? Can Waihi process this type of ore?Estimated cost of production? Probably needs to be estimated in terms of tons of ore exracted rather than per ounce considering they don't know the grade? Capital costs for the underground mining?

[Landyman]

Director buying on market, only $2k, but better than Matt Hill ever did.

[nztx]

NZX:


NTL
$0.020
-$0.003 / -13.04%


1.0c soon anywhere ? ;)

[Daytr]

More in line with the ASX price now.

[Landyman]

It will be interesting - if only half people subscribe to the offer, will that be enough coin to get them to "production"?

[Weta]

It will be interesting - if only half people subscribe to the offer, will that be enough coin to get them to "production"?

Bigger question, most of NZ population has either directly or indirectly been affected by damage & flooding over the last couple of weeks, how many of those will be punting/planning for the future, when they already have more than they can handle with what the weather has dealt to them.

[Landyman]

"NTL expects to finalise its Health and Safety Management
System, the remaining key element of its health and safety framework, within the next few
weeks. The completion of our health and safety system framework is a key milestone to be
completed prior to our return to mining. "

Pumping out the news while the rights issue is open - wouldnt mind seeing a nugget or two!

[blackcap]

"NTL expects to finalise its Health and Safety Management
System, the remaining key element of its health and safety framework, within the next few
weeks. The completion of our health and safety system framework is a key milestone to be
completed prior to our return to mining. "

Pumping out the news while the rights issue is open - wouldnt mind seeing a nugget or two!

I would like to see nuggets too, but I guess they cannot go into the mine without a H&S management system so this is another tick in the box. Lets hope Jonu is on the case and working hard to get a way forward to processing once they get in....

[Paint it Black]

I would like to see nuggets too, but I guess they cannot go into the mine without a H&S management system so this is another tick in the box. Lets hope Jonu is on the case and working hard to get a way forward to processing once they get in....

We have a bit of standoff at present with bids at 1.8c and asks at 2.1c. Low volumes only available at 1.8c probably via Sharesies. So the 1.8c rights offer price is currently probably as good as it will get leading up to the closing of the offer at 5pm next Friday. Obviously NTL is wanting potential buyers to buy into the offer itself to boost the bank account and not have people hanging back waiting to see what the uptake is and then buying later on market if it is positive at possibly a higher price. With no nuggets yet on the table and spare cash becoming increasingly difficult to find following Gabrielle and the OCR hikes I fear a significant shortfall and the end of NTL. Really hope I'm wrong as under the new kiwi management it potentially can succeed in spades with sufficient numbers of shareholders prepared to give it a final shot.

[Weta]

We have a bit of standoff at present with bids at 1.8c and asks at 2.1c. Low volumes only available at 1.8c probably via Sharesies. So the 1.8c rights offer price is currently probably as good as it will get leading up to the closing of the offer at 5pm next Friday. Obviously NTL is wanting potential buyers to buy into the offer itself to boost the bank account and not have people hanging back waiting to see what the uptake is and then buying later on market if it is positive at possibly a higher price. With no nuggets yet on the table and spare cash becoming increasingly difficult to find following Gabrielle and the OCR hikes I fear a significant shortfall and the end of NTL. Really hope I'm wrong as under the new kiwi management it potentially can succeed in spades with sufficient numbers of shareholders prepared to give it a final shot.

Although not big numbers, I put in for my full allotment & doubled up with a similar amount in oversubscription yesterday.

The way I view it, I've supported about half of the CR's since first buying in during the HGD days. To my eyes we're more likely to pull some gold out of the hole now than ever before.

With Matty & his minions now gone, I reckon it's now or never for the company. I feel the current board is being far more honest than the previous board was at any time since it changed over to NTL, and probably even longer.

This will be the last time I put my hand in my pocket for this company. I will reap the rewards for it or cut my losses from here on out.

[Chippie]

Although not big numbers, I put in for my full allotment & doubled up with a similar amount in oversubscription yesterday.

The way I view it, I've supported about half of the CR's since first buying in during the HGD days. To my eyes we're more likely to pull some gold out of the hole now than ever before.

With Matty & his minions now gone, I reckon it's now or never for the company. I feel the current board is being far more honest than the previous board was at any time since it changed over to NTL, and probably even longer.

This will be the last time I put my hand in my pocket for this company. I will reap the rewards for it or cut my losses from here on out.

Well said, I will be doing exactly the same tomorrow.

[clip]

Pretty much agree with Weta, took up my rights and subscribed for 50% more

[Landyman]

Pretty much agree with Weta, took up my rights and subscribed for 50% more

Me too, I still see this as last chance. Prefer to sell what I have at 1.8 on market and get the cash to NTL themselves to do the business

[fish]

I would like to see nuggets too, but I guess they cannot go into the mine without a H&S management system so this is another tick in the box. Lets hope Jonu is on the case and working hard to get a way forward to processing once they get in....

Is jonu working on health and safety ?

[Paint it Black]

Is jonu working on health and safety ?

I understand Samantha Sharif is the expert on this.

[nztx]

Is jonu working on health and safety ?

Is the health & safety of Stakeholders & Contributors also included ..
or are parachutes & lessons at a cost being offered ? ;)

[fish]

Is the health & safety of Stakeholders & Contributors also included ..
or are parachutes & lessons at a cost being offered ? ;)

Doubt it-I suspect they may need it !
Health and safety-mask wearing/rock dust/silicosis might be a problem with Jonu who posts wayout conspiracy theories on the Covid threads

[Curly]

Doubt it-I suspect they may need it !
Health and safety-mask wearing/rock dust/silicosis might be a problem with Jonu who posts wayout conspiracy theories on the Covid threads

Go Jonu, 99.9% of the conspiracy theories are turning out to be true so we need more to get to the truth.

[whatsup]

So with todays sales of NTL looks like some holders are thinking the that the SPP/rights issue wont get enough traction from the funding needed in order to get this op off the ground again !! not good imo as there is gold in them there rocks !!

[blackcap]

So with todays sales of NTL looks like some holders are thinking the that the SPP wont get enough traction from the funding needed in order to get this op off the ground again !! not good imo as there is gold in them there rocks !!

Going to nit pick here, but I don't think it's a SPP. It's a rights issue.

[Paint it Black]

So with todays sales of NTL looks like some holders are thinking the that the SPP wont get enough traction from the funding needed in order to get this op off the ground again !! not good imo as there is gold in them there rocks !!

Back up to 1.8c but with very low volumes it is pretty irrelevant. Much more relevant to me is the current low volume of asks on the NZX suggesting shareholders are happy to hold with confidence there will be a strong offer uptake.

[Daytr]

I finally got filled in my small order in the last couple of days. Pure speculative punt, as the odds I reckon are around 50:50 this thing comes off but if it does the reward is probably minimum 5 fold could be 10 to 15 fold. A bookie normally would pay $1.80 for those odds so the payout in this case seems to far outweigh the odds.

[blackcap]

I finally got filled in my small order in the last couple of days. Pure speculative punt, as the odds I reckon are around 50:50 this thing comes off but if it does the reward is probably minimum 5 fold could be 10 to 15 fold. A bookie normally would pay $1.80 for those odds so the payout in this case seems to far outweigh the odds.

My uneducated guess is that its a 20% shot, but the payoff is a lot higher. Previously shares have been at 20 cents (pre dilution and adjusted etc) so its not a stretch that they will be that high again.. if they can get gold out. A lot better than bookie odds.

[Daytr]

My uneducated guess is that its a 20% shot, but the payoff is a lot higher. Previously shares have been at 20 cents (pre dilution and adjusted etc) so its not a stretch that they will be that high again.. if they can get gold out. A lot better than bookie odds.
Those odds will dramatically shift depending on the outcome of the cap raising which should be announced shortly. My 50:50 is assuming they raise the money required

[Landyman]

I sit at 10-20% odds, but worth the punt - after playing HDG/NTL - its do or die time!

[Lion]

I sit at 10-20% odds, but worth the punt - after playing HDG/NTL - its do or die time!

I've thought hard about the risk and reward here and decided I will take my chances (whatever they might be) and support the company one last time. I've applied for my full allotment plus a few extra today.
High risk, high reward - that's me, I'm in!

[sandi]

I am in too, just hope it all goes ahead a lift to our retirement would be a blessing.

[Daytr]

The key to the capital raise mostly lies in the hands of the top 5 shareholders which own 30% of the company. If they stump up then there is a good chance of it succeeding. I don't remember seeing if there was any acceptable minimum? I.e if they raise 75% of their target does it still go ahead?
I really think this cap raise is arse about face. As they could have paid for a report from their mining technical consultant on feasibility with current funds and if positive then gone to the market with a much stronger foundation and possibly based off a higher SP creating less dilution.

[blackcap]

The key to the capital raise mostly lies in the hands of the top 5 shareholders which own 30% of the company. If they stump up then there is a good chance of it succeeding. I don't remember seeing if there was any acceptable minimum? I.e if they raise 75% of their target does it still go ahead?
I really think this cap raise is arse about face. As they could have paid for a report from their mining technical consultant on feasibility with current funds and if positive then gone to the market with a much stronger foundation and possibly based off a higher SP creating less dilution.

I did not realise they have a mining technical consultant? What could this person have done outside of the information that is already known? They could not have gone into the mine so they would also be relying on past reports? Agree about success of raise is in the top 5 shareholders.

[corpr8raider]

Insiders buying, got to be a good sign?

https://www.nzx.com/announcements/408052

Disc. Hold.

[Daytr]

I did not realise they have a mining technical consultant? What could this person have done outside of the information that is already known? They could not have gone into the mine so they would also be relying on past reports? Agree about success of raise is in the top 5 shareholders.
Terra Firma is advising them on health & safety and mining feasibility. It's in the last quarterly report.

[Landyman]

Insiders buying, got to be a good sign?

https://www.nzx.com/announcements/408052

Disc. Hold.

Only $3k on market, but better than not buying......or selling!!!

[whatsup]

Done and dusted, been here since mid 80's one last throw of the dice, this time, this time, this time, thi----,-----. !

[Daytr]

I did not realise they have a mining technical consultant? What could this person have done outside of the information that is already known? They could not have gone into the mine so they would also be relying on past reports? Agree about success of raise is in the top 5 shareholders.
Just to add they are now looking at processing underground into a concentrate so they don't have ship out large quantities of ore to process. So this is the feasibility I refer to in regards a report from Terra Firma could have produced prior to going to the shareholders for more funds.

[Landyman]

I think today was close for rights acceptance and payments. Hopefully they dont need to extend (not sure if they even can at this late stage), and can announce a decent pile of cash to get the rocketship off the landing pad - cashflow positive by end of year Jonu said.

[nztx]

I think today was close for rights acceptance and payments. Hopefully they dont need to extend (not sure if they even can at this late stage), and can announce a decent pile of cash to get the rocketship off the landing pad - cashflow positive by end of year Jonu said.


Rights Close off 5.00 pm today I believe .. Do I, Dont I ? ;)

[sandi]

Good luck everyone, let's hope it's a financial injection for us all.

[whatsup]

Rights Close off 5.00 pm today I believe .. Do I, Dont I ? ;)

Im picking if there is a reasonable uptake of the rights issue from existing S Hers then it wont be too hard for the shortfall to be placed with other interested parties .

[nztx]

1.8c close with a few minor holders jumping off the ship, just the brokerage difference to CI price

what will the avalanche of newly minted 1.8c jobs bring ? :)

A slide on new or scant news ?

Maybe with the former Board, but we have a new very focused Board

[whatsup]

Fingers crossed for a reasonably successful C R !

[Landyman]

Well, we should know on Thursday, that was scheduled day for allotment - NTL, go you good thing!

[Paint it Black]

Well, we should know on Thursday, that was scheduled day for allotment - NTL, go you good thing!

Yes a big day for NTL. Gold price up another 1% to US$1888 today with the 'banking crisis' might help contributions to any short fall!

[Charlie]

14-Mar-2023 08:30:06
>
MKTUPDTE: NTL: NTL Rights Issue Successfu

[nztx]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408258/390595.pdf

Interesting - if my calculations are correct -

On the 3:5 Rights issue = 191.88m shares offered

Applications for 71.4m + 23.66m OverSubs = 95.1 m

So all over-subscriptions successful

NTL look like they got 49.56% of the maximum amount they were looking for

[winner69]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408258/390595.pdf

Interesting - if my calculations are correct -

On the 3:5 Rights issue = 191.88m shares offered

Applications for 71.4m + 23.66m OverSubs = 95.1 m

So all over-subscriptions successful

NTL look like they got 49.56% of the maximum amount they were looking for

They said

Whilst the capital raise sought a ceiling of $3.45m, the amount raised is nevertheless substantial enough to allow significant progress. NTL will now also allow applications for shortfall on the same terms as the original rights issue offer and has already received interest in shortfall

So all go and a bright future …best thing was a loyal band of shareholders with a genuine investment interest fronted up and some with even more. The other shareholders are just punters hoping for acquisitions buckwith no commitment to the company

[whatsup]

They said

Whilst the capital raise sought a ceiling of $3.45m, the amount raised is nevertheless substantial enough to allow significant progress. NTL will now also allow applications for shortfall on the same terms as the original rights issue offer and has already received interest in shortfall

So all go and a bright future …best thing was a loyal band of shareholders with a genuine investment interest fronted up and some with even more. The other shareholders are just punters hoping for acquisitions buckwith no commitment to the company

Well done team, it would be very interesting to know if Matt applied for his entitlement and some , anyway onward and up ward from here.

WELL DONE TEAM !!

[Paint it Black]

Well done team, it would be very interesting to know if Matt applied for his entitlement and some , anyway onward and up ward from here.

WELL DONE TEAM !!

Yes I'm no doubt amongst many shareholders who are relieved the raising has come off comfortably enough to encourage further shortfall take up and at last production later in the year on the Mystery Vein. This production will obviously generate much needed revenue and should cash in at the current high gold price. Well done Board the show is now on the road!

[Daytr]

This announcement reminds me of the English rugby team celebrating a draw against the ABs.😅

[Paint it Black]

This announcement reminds me of the English rugby team celebrating a draw against the ABs.��

I think they would now be celebrating finding a coach and a team to play the All Blacks after losing at home to France by 40pts!

Come on the raising was a success - could have been the end of NTL if it failed!

[Daytr]

So not failing is deemed as success? I really can't understand why Terra Firma can't provide a feasibility study on the proposed method of mining. I would prefer some money was allocated to that prior to going headlong into extraction.

[Paint it Black]

So not failing is deemed as success? I really can't understand why Terra Firma can't provide a feasibility study on the proposed method of mining. I would prefer some money was allocated to that prior to going headlong into extraction.

Absolutely! Terra Firma have been involved in the mine's physical development for several years and have already advised, and are contracted to continue, the new Board on the best development and extraction strategy. It has long been determined that the low lying fruit are in the Mystery Vein and it is now time to gather it. They are not going headlong into extraction. Perhaps have a read of past annual and quarterly reports or have a chat to John Upperton.

[Daytr]

Absolutely! Terra Firma have been involved in the mine's physical development for several years and have already advised, and are contracted to continue, the new Board on the best development and extraction strategy. It has long been determined that the low lying fruit are in the Mystery Vein and it is now time to gather it. They are not going headlong into extraction. Perhaps have a read of past annual and quarterly reports or have a chat to John Upperton. Well it refers to bulk sampling, so mining on a small scale. What I want to know and have confirmed with a report from Terra Firma is that the processing of ore underground into a concentrate is feasible.

[Boazman]

Would have got on some of the offer but constraints and circumstances dictated otherwise sadly. Holding for many years and could/ should? have sold a long time ago but glad I stayed the course. Very interested to see the technical approach to extraction going forward. Thoughts on IF this happens and revenue comes in and becomes stable and profitable when and what would dividends look like?

[whatsup]

Whats the betting that after todays take up ann that the top table wont have any trouble finding a home for the balance, I could also say that maybe the current holders could have a second crack if that is allowed !

[Daytr]

Whats the betting that after todays take up ann that the top table wont have any trouble finding a home for the balance, I could also say that maybe the current holders could have a second crack if that is allowed !
They are available at the same price on the market now. Yep but be good to see more coming in now that they have secured near $2M.

[whatsup]

They are available at the same price on yhe market now. Yep but be good to see more coming in now that they fave secured near $2M.

Better to give the company the .018 than exiting holders imo at least they will do something worthwhile with the funds .

[Landyman]

Will be interesting to see Jonu's ongoing disclosure update - hope he went all in!!

[Paint it Black]

Will be interesting to see Jonu's ongoing disclosure update - hope he went all in!!

Agree and other directors other than Samantha. Also what their shortfall take up is. I see the ASX shareholders have contributed a paltry 5% - surely it's time now to ditch the listing over there to provide nimbleness to the NZX SP and save needless costs.

[swissboy]

Gold has hit the highest price ever in NZ$ today. Is that a sign or what ?
nahhhh just lucky timing. It is time for things to go right for NTL

[nztx]

Agree and other directors other than Samantha. Also what their shortfall take up is. I see the ASX shareholders have contributed a paltry 5% - surely it's time now to ditch the listing over there to provide nimbleness to the NZX SP and save needless costs.


Agree on the ASX listing .. does NTL meet the Cap requirements to remain listed on ASX ?

[sandi]

I would have thought if Ntl is just listed on the NZX it would not get enough exposure for the shareprice to rise, I was talking to a investment company in Sydney last week and I mentioned NTL he made the comment that they (meaning their investment company) do not really follow the NZX

[Sideshow Bob]

I would have thought if Ntl is just listed on the NZX it would not get enough exposure for the shareprice to rise, I was talking to a investment company in Sydney last week and I mentioned NTL he made the comment that they (meaning their investment company) do not really follow the NZX

Can see why....NZX has 184 companies listed, ASX has 2,326 and plenty of speccy miners that have more prospects and a less checkered past.....

[blackcap]

Agree on the ASX listing .. does NTL meet the Cap requirements to remain listed on ASX ?

I don't think it is a primary listing so cap requirements probably do not apply.

That said, depending on the uptake from ASX shareholders, NTL should probably look at what the point is of remaining listed.

[Paint it Black]

I would have thought that if Ntl is just listed on the NZX it would get enough exposure for the shareprice to rise, I was talking to a investment company in Sydney last week and I mentioned NTL he made the comment that they (meaning their investment company) do not really follow the NZX

NTL is not listed on the main ASX board so joe public are unlikely to be aware of it in OZ. There consequently can be days of inactivity in OZ which often puts a brake on the NZX SP movements. The Hill Family I'd say had it listed years ago over there and maintained it along with BPL (now delisted on the ASX) and it has now lost it's relevance. I'm pretty sure the international brokers in NZ would quickly alert their mates in OZ if they saw a good opportunity on the NZX.

[sandi]

The share price does need all the help it can get, I think Paydirt on youtube should do a interview on NTL to get exposure to increase the overall knowledge and perception of the mine.

[nztx]

SSH Notice HE Brown -

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408483/390847.pdf

[whatsup]

SSH Notice HE Brown -

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408483/390847.pdf

32,000,000 now thats a sign confidence

[ThaiJohn]

Impressive alright.

[Paint it Black]

32,000,000 now thats a sign confidence

Definitely - shows Hamish has a lot of faith in Jonu and NTL's long term future. SP already on the move with asks up to 2.0c with very few sellers.

[Sideshow Bob]

Definitely - shows Hamish has a lot of faith in Jonu and NTL's long term future. SP already on the move with asks up to 2.0c with very few sellers.

Well sometimes you little choice but just have to double down......;)

[Paint it Black]

Well sometimes you little choice but just have to double down......;)

Suggest Hamish has much more sense than that!

[Getty]

Well sometimes you little choice but just have to double down......;)

That man deserves a DB.

He's having a Double Brown.

[Landyman]

Change from NTL to DBG - Double Brown Gold.

[Paint it Black]

Very encouraging to see Jonu and Chair Samantha have disclosed $15K and $60K rights offer purchases lifting their holdings to 10.2 million and 4.4 million. Significant skin in the game.

[Landyman]

Hmmm - personally, I was hoping that Jonu would have gone the whole hog and taken his full allotment of 5.6m - if 100% confident in future SP increases, why allow for dilution.

Everyones personal situation is different of course.

[Daytr]

Well sometimes you little choice but just have to double down......;)
Exactly. If he hadn't the company was probably kaput!

[fish]

Hmmm - personally, I was hoping that Jonu would have gone the whole hog and taken his full allotment of 5.6m - if 100% confident in future SP increases, why allow for dilution.

Everyones personal situation is different of course.

Personally I would have a problem trusting anyone who repeatedly posts conspiracy theories and refuses to stop when asked politely

[dubya]

Personally I would have a problem trusting anyone who repeatedly posts conspiracy theories and refuses to stop when asked politely

Yup. Spot on fish.

Not the sort of person I would want managing my money.

His myopic (and massively incorrect) views were clearly on display over the years when he thought NTL and Hill could do no wrong.
See my posts #8219 and #8621

I wonder how much he’s being paid in his ‘new’ role at NTL??

Not the sort of person I would want managing my money

Oh, and BTW Hill said at the 2021 AGM it would take $12 million to get the mine into production.
Can’t think of any reason for him to over estimate this figure.
The latest capital raising won’t be enough.

I’ll follow the smart money, and imo Michael Stiassny is the smartest person on the NTL board, and he hasn’t put 1 cent of his money in.

[winner69]

Yup. Spot on fish.

Not the sort of person I would want managing my money.

His myopic (and massively incorrect) views were clearly on display over the years when he thought NTL and Hill could do no wrong.
See my posts #8219 and #8621

I wonder how much he’s being paid in his ‘new’ role at NTL??

Not the sort of person I would want managing my money

Oh, and BTW Hill said at the 2021 AGM it would take $12 million to get the mine into production.
Can’t think of any reason for him to over estimate this figure.
The latest capital raising won’t be enough.

I’ll follow the smart money, and imo Michael Stiassny is the smartest person on the NTL board, and he hasn’t put 1 cent of his money in.

You asked -

During the quarter the Company paid $41,074 for director fees to companies in which directors and major shareholders have a substantial interest. The Company paid $35,000 to John Upperton in his capacity as Strategic Delivery Manager.

[nztx]

Yup. Spot on fish.

Not the sort of person I would want managing my money.

His myopic (and massively incorrect) views were clearly on display over the years when he thought NTL and Hill could do no wrong.
See my posts #8219 and #8621

I wonder how much he’s being paid in his ‘new’ role at NTL??

Not the sort of person I would want managing my money

Oh, and BTW Hill said at the 2021 AGM it would take $12 million to get the mine into production.
Can’t think of any reason for him to over estimate this figure.
The latest capital raising won’t be enough.

I’ll follow the smart money, and imo Michael Stiassny is the smartest person on the NTL board, and he hasn’t put 1 cent of his money in.


Interesting - but would Michael Stiassny still be onboard as part of a NTL Board approving the financing,
Cap Raise etc collectively at Board level, if he didn't think the forward plan was viable ?

Entering production with gold flowing may also open further financing options too

Frankly I have considerably more faith in the current Board than that they replaced.

[blackcap]

Yup. Spot on fish.



Oh, and BTW Hill said at the 2021 AGM it would take $12 million to get the mine into production.
Can’t think of any reason for him to over estimate this figure.
The latest capital raising won’t be enough.

I’ll follow the smart money, and imo Michael Stiassny is the smartest person on the NTL board, and he hasn’t put 1 cent of his money in.

I can think of many reasons why Hill would want to overestimate that figure....

Stiassny happens to be chair of NZA and I don't think he has invested there. I think he is the type of director that does not do "hands on investing" although I could be wrong.

John is not running the company, he reports to the Chair so I have no issues with him contributing, considering that if it wasn't for him this company would in my opinion be gone.

[Landyman]

Jonu has a lot to gain if they can get production going given the number of shares he holds. Earning $140k a year in current capactity is probably a minor part of his retirement plan given he could be working elsewhere, IMHO.

[whatsup]

Yup. Spot on fish.

Not the sort of person I would want managing my money.

His myopic (and massively incorrect) views were clearly on display over the years when he thought NTL and Hill could do no wrong.
See my posts #8219 and #8621

I wonder how much he’s being paid in his ‘new’ role at NTL??

Not the sort of person I would want managing my money

Oh, and BTW Hill said at the 2021 AGM it would take $12 million to get the mine into production.
Can’t think of any reason for him to over estimate this figure.
The latest capital raising won’t be enough.

I’ll follow the smart money, and imo Michael Stiassny is the smartest person on the NTL board, and he hasn’t put 1 cent of his money in.

Sad but true, BTWay , what court action has been set aside for Hill ?

[blackcap]

Sad but true, BTWay , what court action has been set aside for Hill ?

Hi Whatsup, what do you mean by this? The FMA case or are you alluding to something else? The FMA case commences in 2024.

[whatsup]

Hi Whatsup, what do you mean by this? The FMA case or are you alluding to something else? The FMA case commences in 2024.

Yes the FMA case, I surely hope that if approporate they come down with the full force of the law if Hill is found guilty as charged, writing under a chat site from his position is a very serious action.

[blackcap]

Yes the FMA case, I surely hope that if approporate they come down with the full force of the law if Hill is found guilty as charged, writing under a chat site from his position is a very serious action.

Exactly. I do believe it has been set down for 2024. The wheels of justice grind slowly etc.

[ThaiJohn]

Hi Matt😁 (I know he reads this thread)
2024 comeuppance time. Pack ya bag, and some lube.😵

[winner69]

Interesting that Stiassny and Sharif are both on NZA and NTL Boards

[Paint it Black]

Yes looks like they were appointed last year following some NZA turmoil (like NTL) to stabilize the company. No doubt they respect each others expertise and will be sufficiently hands on to quickly support Jonu and not be deflected trying to resurrect NZA's current poor performance.

[blackcap]

Interesting that Stiassny and Sharif are both on NZA and NTL Boards

Sharif was only as an interim independent director whilst the acting CEO Gordon Shaw, stepped down and became an independent again. Sharif resigned from the Board at that time. I think last month.

[winner69]

Sharif was only as an interim independent director whilst the acting CEO Gordon Shaw, stepped down and became an independent again. Sharif resigned from the Board at that time. I think last month.

Sharif signed off an NZX announcement last week as Chair

[sandi]

Could I have this explained to me please, I have NTL shares I decided I wanted to buy more shares after the consolidation and the rights offer which I purchased all that was allocated. I put in a buy offer at 0.02 (nz) thinking I would get the amount I wanted but I got none, yet there were transactions of 0.018 on the same day before and after the time I put the offer in. Your insight and knowledge would be helpful many thanks.

[blackcap]

Could I have this explained to me please, I have NTL shares I decided I wanted to buy more shares after the consolidation and the rights offer which I purchased all that was allocated. I put in a buy offer at 0.02 (nz) thinking I would get the amount I wanted but I got none, yet there were transactions of 0.018 on the same day before and after the time I put the offer in. Your insight and knowledge would be helpful many thanks.

You will need to provide more context. Which broker do you use? Some brokers will not allow orders that push up the price too much as it creates in their view a "disorderly market" and the NZX frowns upon such.

You might be best to go back to your broker and ask why your order did not go through. I am presuming that if your order was for 2 cents it is still outstanding? You should be able to see it on the platform you use?

[clip]

Could I have this explained to me please, I have NTL shares I decided I wanted to buy more shares after the consolidation and the rights offer which I purchased all that was allocated. I put in a buy offer at 0.02 (nz) thinking I would get the amount I wanted but I got none, yet there were transactions of 0.018 on the same day before and after the time I put the offer in. Your insight and knowledge would be helpful many thanks.

If it's through sharesies, they use a wierd batching/queueing method so your order will be held until there's enough other people who want to buy at 0.02 at the same time.

Not sure if something has changed their end, I had the same thing happen with GEN last week, haven't noticed it before. I placed a buy on GEN at the same price through asb securities and it went through immediately so points to a sharesies problem or change I think

[sandi]

If it's through sharesies, they use a wierd batching/queueing method so your order will be held until there's enough other people who want to buy at 0.02 at the same time.

Not sure if something has changed their end, I had the same thing happen with GEN last week, haven't noticed it before. I placed a buy on GEN at the same price through asb securities and it went through immediately so points to a sharesies problem or change I think

Yes I was using Sharesies and no the order is canceled after I saw this morning that more had been sold at 0.018.

[winner69]

Yes I was using Sharesies and no the order is canceled after I saw this morning that more had been sold at 0.018.

Stupid question .... why buy at 2 cents when you can buy cheaper at 1.8 cents

[clip]

Stupid question .... why buy at 2 cents when you can buy cheaper at 1.8 cents

It will be a limit buy so if there are shares on offer at 1.8 it will take those before buying at 1.9 or 2.0 to fill your order

[sandi]

I had put in a buy order to purchase at 0.018 but didn't get any so I thought if I went 0.02 my order would be filled.

[Paint it Black]

I had put in a buy order to purchase at 0.018 but didn't get any so I thought if I went 0.02 my order would be filled.

Just remember Sandi you need to order in cents so make it 2.0c if you wish to buy on market quickly. 0.02 won't get you very far these days.

[blackcap]

Just remember Sandi you need to order in cents so make it 2.0c if you wish to buy on market quickly. 0.02 won't get you very far these days.

Sharesies works in dollars. So 0.02 is correct.

But it would be the sharesies algorithm working against you.

Remember too, there is shortfall available at $0.018. All you need to do is get in touch with John Upperton. Details in the latest announcement. If you have any queries regarding any of the above, please contact: John Upperton
john@newtalisman.co.nz or phone +64 9 303 1983

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408258/390595.pdf

[sandi]

Many thanks for your reply’s I have learnt a lot I will follow these links.

[Paint it Black]

Sharesies works in dollars. So 0.02 is correct.

But it would be the sharesies algorithm working against you.

Remember too, there is shortfall available at $0.018. All you need to do is get in touch with John Upperton. Details in the latest announcement. If you have any queries regarding any of the above, please contact: John Upperton
john@newtalisman.co.nz or phone +64 9 303 1983

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408258/390595.pdf

Thanks Blackcap. A bit weird these algorithms that cancel higher bids - on Direct Broking if you buy at market it will be accepted. Sometimes you just want to be sure of your buy - definitely not have it arbitrarily cancelled as Sharesies apparently have done if they have cheaper shares on offer.

Are you aware of when the shortfall offer closes? This should be announced to the market if not already to release the hand brake.

[blackcap]

Thanks Blackcap. A bit weird these algorithms that cancel higher bids - on Direct Broking if you buy at market it will be accepted. Sometimes you just want to be sure of your buy - definitely not have it arbitrarily cancelled as Sharesies apparently have done if they have cheaper shares on offer.

Are you aware of when the shortfall offer closes? This should be announced to the market if not already to release the hand brake.

I have no idea when shortfall closes. The above link does not indicate that. I think the best bet would be to give John a call or text and see if he is ready to divulge that info.

[Paint it Black]

I have no idea when shortfall closes. The above link does not indicate that. I think the best bet would be to give John a call or text and see if he is ready to divulge that info.

If nothing comes through quickly I'll make contact. I would have thought the NZX need to know this?

[nztx]

I have no idea when shortfall closes. The above link does not indicate that. I think the best bet would be to give John a call or text and see if he is ready to divulge that info.


got allocation + all extras applied for - emailed Computershare Holder statements for these came in 20 Mar 23

[blackcap]

got allocation + all extras applied for - emailed Computershare Holder statements for these came in 20 Mar 23

Yeah I got mine too. Including over subscription. But there is a shortfall available to anyone that is interested, including outside the shareholder base. The question PIB had, when does this close as this will be hanging over the shareprice. (Ie what incentive is there to buy shares on market, when you can give John a ring and get them for 1.8)

[Paint it Black]

If nothing comes through quickly I'll make contact. I would have thought the NZX need to know this?

https://announcements.nzx.com/detail/408770

No time limit for the shortfall take up is identified in today's announcement - imho it is more of a legal compliance notification to alert the market the process is ongoing without disclosures etc. Probably at this stage a time limit is left open to give NTL time to attract further investment which is fine with me if it works for an improved balance sheet. Will therefore remain patient waiting for the brake to be released.

[Landyman]

Until NTL hits next milestones - processor agreement, gold production, SP is likely to stay put anyway - capped for now at 1.8c until they close the "we need coin" offer of shares

Next 6-9 months will be exciting........or frustrating!

[Paint it Black]

Until NTL hits next milestones - processor agreement, gold production, SP is likely to stay put anyway - capped for now at 1.8c until they close the "we need coin" offer of shares

Next 6-9 months will be exciting........or frustrating!

Yes exciting but suggest it could well rise before actual milestones are reached on the back of the successful rights offer. I see this morning $6K have crossed at 1.9c. Presumably these are people wanting to quickly transact through the market and not participate in the shortfall offer. I'm unsure whether existing non shareholders can participate in the shortfall purchases? The announcements say under the same terms as the rights offer so probably not.

[Landyman]

Yes exciting but suggest it could well rise before actual milestones are reached on the back of the successful rights offer. I see this morning $6K have crossed at 1.9c. Presumably these are people wanting to quickly transact through the market and not participate in the shortfall offer. I'm unsure whether existing non shareholders can participate in the shortfall purchases? The announcements say under the same terms as the rights offer so probably not.

Sounds like you are talking about "Gold fever" - as Im currently holding, lets hope it happens!!!! Anticipation and expectation with gold tinted lenses

[Paint it Black]

Sounds like you are talking about "Gold fever" - as Im currently holding, lets hope it happens!!!! Anticipation and expectation with gold tinted lenses

Could be! Start of a Gold Rush! Green Gold would sell well with the tourists!

[whatsup]

Closed with a .02 sale thats impressive (for the time being )

[fish]

Closed with a .02 sale thats impressive (for the time being )

Only if the volume was impressive.
If not someone is trying to suck you in to buy the rights at 0.18.

[blackcap]

I see the price of gold is above $2,000 US again this morning. Little things, but they do help.

[blackcap]

Only if the volume was impressive.
If not someone is trying to suck you in to buy the rights at 0.18.

Do you really think the company is manipulating the share price to entice others to buy rights at $0.018? Those are some serious allegations and if so you might wish to inform the FMA.

[fish]

Do you really think the company is manipulating the share price to entice others to buy rights at $0.018? Those are some serious allegations and if so you might wish to inform the FMA.

I recently had a pm from a shareholder stating she would not have bought into the rights if she had known a posters identity .

[Landyman]

I recently had a pm from a shareholder stating she would not have bought into the rights if she had known a posters identity .

Maybe its Matty Hill buying at $0.02, trying to have one last laugh!

Do remember, that pre the rights offer and share consolidation, NTL spent a lot of time floating between $0.002 and $0.003 (remove a decimal to allow for the consolidation), so market valued it as such. Yes, dilution would drop things.

Key will be whether market expects Jonu and co to succeed. Im sure hoping he does.

DYOR - but NTL IMHO is worth a punt.

[fish]

Do you really think the company is manipulating the share price to entice others to buy rights at $0.018? Those are some serious allegations and if so you might wish to inform the FMA.

No that is not what I posted .
I know very little about the company apart from what I have read on here and been told .
You keep on posting about how shares can be obtained from jonu at 1.8 cents so I found it strange that it was posted here trading at 2 cents -and offered a possibility-do you know a reason that is more likely ?

[Paint it Black]

No that is not what I posted .
I know very little about the company apart from what I have read on here and been told .
You keep on posting about how shares can be obtained from jonu at 1.8 cents so I found it strange that it was posted here trading at 2 cents -and offered a possibility-do you know a reason that is more likely ?

Possibly Sharesies purchasers. Any director buys would need to be disclosed so forget that theory.

[sandi]

[QUOTE=Paint it Black;997101]Possibly Sharesies purchasers. Any director buys would need to be disclosed so forget

[haewai]

It's a deeply risky gamble. The company is on the brink of failure, and selling gold seems several difficult steps away, with little transparency on how it's going to get there. Eg. how will the ore be processed? Just a counterview to the repeated over-optimism above.

[fish]

Possibly Sharesies purchasers. Any director buys would need to be disclosed so forget that theory.

No that was never a possible reason and we have been told here that jonu did not take up his full rights at 1.8
I just want to know why it traded at 2 when they can be purchased at 1.8 .
Why are you waiting to trade at 1.8 when you can save fees by buying from jonu at 1.8 .

[Paint it Black]

No that was never a possible reason and we have been told here that jonu did not take up his full rights at 1.8
I just want to know why it traded at 2 when they can be purchased at 1.8 .
Why are you waiting to trade at 1.8 when you can save fees by buying from jonu at 1.8 .

It's pretty simple - you can buy on line at more than 1.8c if you want to.

I believe you would need to be already a shareholder to enable Jonu to process your buy in at 1.8c.

[ThaiJohn]

I've mentioned this before, what's stopping them from shipping the ore in containers over to Aus processing?

[fish]

Yeah I got mine too. Including over subscription. But there is a shortfall available to anyone that is interested, including outside the shareholder base. The question PIB had, when does this close as this will be hanging over the shareprice. (Ie what incentive is there to buy shares on market, when you can give John a ring and get them for 1.8)

So it is clear that anyone should buy them from jonu at 1.8 rather than on market and save trading fees.
So why is someone paying 2 ?

[whatsup]

Only if the volume was impressive.
If not someone is trying to suck you in to buy the rights at 0.18.

Settle down Fish, your starting to smell.

[Paint it Black]

It's pretty simple - you can buy on line at more than 1.8c if you want to.

I believe you would need to be already a shareholder to enable Jonu to process your buy in at 1.8c.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/408921/391370.pdf

Chairperson Samantha has disclosed an on market purchase averaging 1.86c transaction dated 22/3/23. A bit odd if she could have bought at 1.8c from Jonu? From memory the SP was still at 1.8c two days ago but maybe there was a 1.9c component in there during that day and wanted to remain arms length?

[fish]

Settle down Fish, your starting to smell.

Sure
Maybe something else smells

[Daytr]

I've mentioned this before, what's stopping them from shipping the ore in containers over to Aus processing?
Cost. If they can produce a high grade concentrate underground they will be shipping probably 90% or thereabouts less material.
It makes sense when you have low volume production, that's obviously if it feasible. The health & safety will be key as ventilation and toxic fume extraction I imagine will be key.

[Elia]

Getting a truck and container over the Karangahape bridge and on to the Waihi / Paeroa main road would be a problem.

[Paint it Black]

Getting a truck and container over the Karangahape bridge and on to the Waihi / Paeroa main road would be a problem.

https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5137453

My understanding is that the concentrator would bring the volumes down to more of a ute sized vehicle for transportation
to a processor and toxic waste is not generated. A pilot plant has already been built and trialed and a scaled up version is likely the next step. A link is attached and other background published from NTL around 2019 can be researched.

[Rocky]

the railway line used to over the top section of bridge so no problems for a truck

[Getty]

Getting a truck and container over the Karangahape bridge and on to the Waihi / Paeroa main road would be a problem.

Could you elaborate on this please Elia.

I scoped this out after last time you made a similar comment.

I saw no issue in being able to get 20 foot containers in/out, particularly on a low bed truck.

I can't find any reference to limitations on the bridge by Hauraki district council.

NTL has consent for 4 truck movements a day last time I checked, which is adequate for a boutique operation.

PS.
I specifically mention 20 ft containers as they can take 20 one tonne bags of bulk material.
If a 40 foot container was used, thereby holding 40 tonnes, this would not be legal on general roads, and would require more turning circle onto the main highway, which
may be what Elia is alluding to.

[whatsup]

https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5137453

My understanding is that the concentrator would bring the volumes down to more of a ute sized vehicle for transportation
to a processor and toxic waste is not generated. A pilot plant has already been built and trialed and a scaled up version is likely the next step. A link is attached and other background published from NTL around 2019 can be researched.

PiB, What a pity that Matt didnt advance this progress from 3 1/2 years ago, IMO IF he had done his job and advanced the mining/crushing we would be in a totally different position than we are now, possible in a cash flow income earning situation !. What was the problem ?

[Elia]

Because the end of the one way bridge is so close to a busy highway, a large truck coming of off the bridge and going Paeroa way, would need to go into the opposing traffic lane to make the turn, and vice versa if getting on to the bridge from the Waihi side. It can of course be done and hopefully the Council would allow it.

[Getty]

Because the end of the one way bridge is so close to a busy highway, a large truck coming of off the bridge and going Paeroa way, would need to go into the opposing traffic lane to make the turn, and vice versa if getting on to the bridge from the Waihi side. It can of course be done and hopefully the Council would allow it.
Thanks for reply Elia.
I would expect the loaded truck to be heading into Tauranga port if carting material for overseas processing though, which is an easier turn, and when arriving empty, if it was deemed too tight with the left turn, could overshoot further down the main highway to turn around and come back for a wider turn, and not veer into oncoming traffic.

As I have previously posted, if this is decided too difficult, for whatever reason, one tonne bags could be moved to Waikino or Waihi, and loaded into a container there.

[Paint it Black]

PiB, What a pity that Matt didnt advance this progress from 3 1/2 years ago, IMO IF he had done his job and advanced the mining/crushing we would be in a totally different position than we are now, possible in a cash flow income earning situation !. What was the problem ?

Good question, I agree! At the end of 2019 the company seemed to be in a good position with much potential but then lost considerable momentum with the Covid lock downs being unable to find a processing route. There was a prospect that Oceania would do this at Waihi but they closed their plant down. Even though NTL raised $3.6M in mid 2019 this was eroded with overhead (even though directors had a 20% haircut),unexpected access costs and getting distracted with Vanuatu and the Broken Hills acquisitions. Time was also lost trying to find a site to do the concentrating and obtain the associated resource consent approvals, the location of which was kept under wraps due to potential protester difficulties. In addition the Matt allegations followed by a further capital raise announcement in 2021 did not help!
Probably many other issues - including internal comms with some of the Board in Australia.
I think the big difference with the new Board is that they are fully focussed on the Mystery Vein, willing to trigger the bulk sampling permit and they are planning to locate the concentrator inside the mine. I'm unsure why Matt did not progress this option and possibly there is a problem lurking there but it makes a lot of sense imho.
Maybe this helps?

[fish]

Good question, I agree! At the end of 2019 the company seemed to be in a good position with much potential but then lost considerable momentum with the Covid lock downs being unable to find a processing route. There was a prospect that Oceania would do this at Waihi but they closed their plant down. Even though NTL raised $3.6M in mid 2019 this was eroded with overhead (even though directors had a 20% haircut),unexpected access costs and getting distracted with Vanuatu and the Broken Hills acquisitions. Time was also lost trying to find a site to do the concentrating and obtain the associated resource consent approvals, the location of which was kept under wraps due to potential protester difficulties. In addition the Matt allegations followed by a further capital raise announcement in 2021 did not help!
Probably many other issues - including internal comms with some of the Board in Australia.
I think the big difference with the new Board is that they are fully focussed on the Mystery Vein, willing to trigger the bulk sampling permit and they are planning to locate the concentrator inside the mine. I'm unsure why Matt did not progress this option and possibly there is a problem lurking there but it makes a lot of sense imho.
Maybe this helps?
How many tons of rock are likely to need to be mined underground to get enough concentrate containing 1oz of gold ?

[Paint it Black]

The JORC reports an inferred 25g bullion/tonne in the Mystery Vein. The original rights issue announcement gave processed gold rates scenarios between 6g and 12g of gold/tonne. With 31g to a troy oz at 8g/tonne you will need approximately 4 tonnes of rock or around 2 cu m.

[fish]

The JORC reports an inferred 25g bullion/tonne in the Mystery Vein. The original rights issue announcement gave processed gold rates scenarios between 6g and 12g of gold/tonne. With 31g to a troy oz at 8g/tonne you will need approximately 4 tonnes of rock or around 2 cu m.
Thanks.
That’s similar concentrations to numerous other gold mining companies that process on site in the open around the world .

[Landyman]

Shortfall notice: "Applications and deposit of funds must be received by 20th April 2023."

NTL will take up to $1.7m

[whatsup]

.018, that will put a cap on the S P for a while but Im picking there will be reasonable uptake considering that ppls have a 3 weeks to front.

[Paint it Black]

Shortfall notice: "Applications and deposit of funds must be received by 20th April 2023."

NTL will take up to $1.7m

Good to see this now formalized with an end date. A tad ad hoc before. Can see why Samantha purchased on market. It would be good to have some real time progress update prior to closing on the 20th April. Maybe even bring forward the end of March Activities Report?

[Waikaka]

The JORC reports an inferred 25g bullion/tonne in the Mystery Vein. The original rights issue announcement gave processed gold rates scenarios between 6g and 12g of gold/tonne. With 31g to a troy oz at 8g/tonne you will need approximately 4 tonnes of rock or around 2 cu m.

While narrow vein mining has favorable waste rock to ore ratios, presumable they will use mechanical mining which means plenty of waste rock will be generated. Presumably they have drives already excavated to hold the ore.

Underground concentrator means they need a crushing plant, cant concentrate the material without it being smashed up first. Concentrators need water, that means water take consent and also waste water discharge which means resource consents. Only effective way to get decent gold recovery from Karangahake mining was to use cyanide, presume their concentrator is just gravity so fair amount of gold will stay trapped in the rocks so recovery will be a lot worse than just getting it all processed. Old timers just dumped tailings into the closest river or as they called them "designated sludge canals". Presumably that is not possible so waste rock will be backfilled somewhere underground. More handling means more cost.

Perfectly fine for a small family operation but suffice to say going to be a huge amount of money needed before any money will come back to shareholders. Good luck with it just think worth pointing out the troubles ahead so people aren't disappointed when they are asked for more money in the future.

[Landyman]

https://www.stuff.co.nz/environment/131561265/court-action-over-proposed-gold-mine-under-conservation-land

Not NTL, but interesting

[Paint it Black]

While narrow vein mining has favorable waste rock to ore ratios, presumable they will use mechanical mining which means plenty of waste rock will be generated. Presumably they have drives already excavated to hold the ore.

Underground concentrator means they need a crushing plant, cant concentrate the material without it being smashed up first. Concentrators need water, that means water take consent and also waste water discharge which means resource consents. Only effective way to get decent gold recovery from Karangahake mining was to use cyanide, presume their concentrator is just gravity so fair amount of gold will stay trapped in the rocks so recovery will be a lot worse than just getting it all processed. Old timers just dumped tailings into the closest river or as they called them "designated sludge canals". Presumably that is not possible so waste rock will be backfilled somewhere underground. More handling means more cost.

Perfectly fine for a small family operation but suffice to say going to be a huge amount of money needed before any money will come back to shareholders. Good luck with it just think worth pointing out the troubles ahead so people aren't disappointed when they are asked for more money in the future.

Best to read the announcements on the NTL website to bring you up to speed. Quite a bit more than a 'small family operation' you will then see. The concentrator doesn't actually refine the gold into ingots. That will be done elsewhere. I understand it will use grinding (to talcum powder fineness), gravity and flotation methods to do the job. Definitely no unfriendly chemicals - that is the beauty of it! Agree the challenge will be do the initial crushing and final infilling but this is understood costing wise. Holding tanks and recycling may well avoid Resource Consent issues especially as they already hold a bulk sampling permit of 20,000 m3/pa once triggered for two years. Terra Firma have been working in the mine for several years now without any consenting issues I am aware of.

[whatsup]

https://www.stuff.co.nz/environment/131561265/court-action-over-proposed-gold-mine-under-conservation-land

Not NTL, but interesting

Wernt this bunch of hand wringers the ones who collected all of these rare snails and put them in a fridge that had a power shortage ( no coal ) which caused the death of most of them all, so much for protecting nature, just leave them alone and nature will look after themselves, just like birds that fly away and find a new home when their habitat is mines, they dont stay long and adapt to a new surrounding.

[fish]

Best to read the announcements on the NTL website to bring you up to speed. Quite a bit more than a 'small family operation' you will then see. The concentrator doesn't actually refine the gold into ingots. That will be done elsewhere. I understand it will use grinding (to talcum powder fineness), gravity and flotation methods to do the job. Definitely no unfriendly chemicals - that is the beauty of it! Agree the challenge will be do the initial crushing and final infilling but this is understood costing wise. Holding tanks and recycling may well avoid Resource Consent issues especially as they already hold a bulk sampling permit of 20,000 tonnes/pa once triggered for two years. Terra Firma have been working in the mine for several years now without any consenting issues I am aware of.

Are there any examples of underground grinding anywhere in the world?
Rockgrinding creates dust surely ?
Rockdust is a big health and safety issue

[Daytr]

Agree health & safety will be one of the biggest hurdles. I haven't been involved in the gold industry for 15 years but I never came across this sort of processing in my time. Not to say it's not been done since. That's a lot of grinding & I would suggest power consumption. Also I do wonder what the recoveries will be like.

[whatsup]

Are there any examples of underground grinding anywhere in the world?
Rockgrinding creates dust surely ?
Rockdust is a big health and safety issue

Thats what face masks are for, been used in the industry for decades , most " grinding " is done outside the mine in processing in a wet situ.

[Waikaka]

Best to read the announcements on the NTL website to bring you up to speed. Quite a bit more than a 'small family operation' you will then see. The concentrator doesn't actually refine the gold into ingots. That will be done elsewhere. I understand it will use grinding (to talcum powder fineness), gravity and flotation methods to do the job. Definitely no unfriendly chemicals - that is the beauty of it! Agree the challenge will be do the initial crushing and final infilling but this is understood costing wise. Holding tanks and recycling may well avoid Resource Consent issues especially as they already hold a bulk sampling permit of 20,000 tonnes/pa once triggered for two years. Terra Firma have been working in the mine for several years now without any consenting issues I am aware of.

Its the unfriendly chemicals that get the best recoveries of gold. Clean water is needed to process any sort of volume of material with a concentrator. Otherwise you would need huge settling ponds to get water usable again, never heard of underground settling ponds. I know concentration doesn't end up with gold ingots, just reduces the amount of truck movements from the site as the material still goes to a processing plant where they will be tolled out of existence. A lot of cost to try and potentially get a consent.

Bulk sampling permit is from 2013, hasn't really got them cracking for the last 10 years right? As soon as any sorts of volumes go through they will need more resource consent, just because they are underground doesn't mean their discharges magically avoid the RMA.

Terra firma are not mining, seems like from the rights issue they are mainly working on health and safety documentation. I cant believe they don't even have Worksafe permission to work in the mine.

I have no skin in the game and been a long time since I worked hardrock but this is so far from a economically working mine. There is going to be huge amount of money needed between now and actual money back to shareholders. Best of luck, just understand that mining is really tricky, complicated and the restrictions on these sort of activities means it is only getting harder to get anything done at a reasonable cost.

[Paint it Black]

Agree health & safety will be one of the biggest hurdles. I haven't been involved in the gold industry for 15 years but I never came across this sort of processing in my time. Not to say it's not been done since. That's a lot of grinding & I would suggest power consumption. Also I do wonder what the recoveries will be like.

Crushing rock underground is often done in tunneling and coal mining to convey the material out - a quick google search indicates large underground ore crushing operations in Finland and Mongolia - not that Talisman would be anywhere near those in scale. Talisman can lead the way in Australasia! Agree power consumption is an issue but using off peak periods can reduce this. Dust would probably be handled with water sprays on a closed circuit. Also agree health and safety must be at the top of the priority list and this can be seen with the proposed construction of a second egress route for the Mystery Vein. Being a gold mine it does not have combustible gas issues and one needs to remember it is an old mine with no history of accidents. Recovery rates I'm confident will be well considered. With an inferred 25g bullion equiv/tonne, chip sampling at 32g/tonne and a break even recovery of 6g/tonne (with 7000 t ore) required to break even the predictions looks conservative enough.

[Daytr]

Paint it Black, what is suggested was grinding to a fine powder which is quite different to what you are saying. Being a high grade vein type deposit I would think removing the ore that directly surrounds the gold vein to be processed elsewhere would make more sense, however if they can produce a high grade concentrate underground, kudos! The Gympie mine was a high grade vein deposit in quartz and they cut around the visible gold with diamond saws and removed the blocks for crushing externally. Perhaps not a great example though as Gympie went broke in the end.

[Paint it Black]

Paint it Black, what is suggested was grinding to a fine powder which is quite different to what you are saying. Being a high grade vein type deposit I would think removing the ore that directly surrounds the gold vein to be processed elsewhere would make more sense, however if they can produce a high grade concentrate underground, kudos! The Gympie mine was a high grade vein deposit in quartz and they cut around the visible gold with diamond saws and removed the blocks for crushing externally. Perhaps not a great example though as Gympie went broke in the end.

The pilot plant used fine grinding and I'm advised this is what is proposed for the production plant. No doubt they will adjust to suit the most efficient methodology as they progress.

[Daytr]

Hopefully so but they admit themselves this is a novel approach & this is why I have been calling for the feasibility report. You cannot compare the likes of bulk soft ore coal mining to the likes of small scale hard rock gold mining. It's like planting potatoes & expecting bananas.

[Paint it Black]

Its the unfriendly chemicals that get the best recoveries of gold. Clean water is needed to process any sort of volume of material with a concentrator. Otherwise you would need huge settling ponds to get water usable again, never heard of underground settling ponds. I know concentration doesn't end up with gold ingots, just reduces the amount of truck movements from the site as the material still goes to a processing plant where they will be tolled out of existence. A lot of cost to try and potentially get a consent.

Bulk sampling permit is from 2013, hasn't really got them cracking for the last 10 years right? As soon as any sorts of volumes go through they will need more resource consent, just because they are underground doesn't mean their discharges magically avoid the RMA.

Terra firma are not mining, seems like from the rights issue they are mainly working on health and safety documentation. I cant believe they don't even have Worksafe permission to work in the mine.

I have no skin in the game and been a long time since I worked hardrock but this is so far from a economically working mine. There is going to be huge amount of money needed between now and actual money back to shareholders. Best of luck, just understand that mining is really tricky, complicated and the restrictions on these sort of activities means it is only getting harder to get anything done at a reasonable cost.

Thanks Waikaka. Time will tell I guess about being 'tolled out of existence'. Have you any reasons for this? The world is a market place I thought especially with easily transportable concentrate. They will be tanks not ponds. Just to note I said Terra Firma have been working in the mine (not actually mining) - going through old annual reports they are referenced. I believe the company is Terra Firma Mining based in Huntly with mining expertise not a project management firm Terra Firma. I believe they have also been in the past involved in the mine access, ventilation and other services installation work. I think with the new board in place and the Covid delays they are wanting to set up a fresh agreement with Worksafe consents etc not to say what they did previously was illegal. Matt was delaying triggering the bulk sampling permit until he considered all the ducks were in a row but as per other posts shareholder patience ran out. Yep the next year will be interesting - I'm sure the new board with their experience are fully aware of today's cost pressures. I guess one needs to balance a known downside (ie SP=0c) with a very large upside based on the knowledge available and expertise committed.

[Daytr]

Not a lot of mining experience on the board.
I probably sound all negative, but I really hope it succeeds, but just seems to be very little facts to work with.

[Paint it Black]

Not a lot of mining experience on the board.
I probably sound all negative, but I really hope it succeeds, but just seems to be very little facts to work with.

http://www.newtalismangoldmines.co.nz/wp-content/uploads/2020/07/new-talisman-ann-report-2020_scr.pdf

Have attached the 2020 annual report which describes the pilot plant itself and testing in case you haven't seen it. Based on a similar system in South Africa. Don't think there is any need for a 'feasibility report' requested in your earlier post. Re the coal and hard rock mining comparison I definitely get this is more expensive but was wanting to demonstrate underground crushing is regularly done where dust, water supply etc can be mitigated. Victor Rabone on the board is geotechnical engineer with specialised expertise in hard rock mining. No worries there is combination with Terra Firma. Lots of facts out there.

[Landyman]

Nice to see some robust debate, certainly helps those of us who have no idea about mining.

NTL - still a punt IMHO.

[Daytr]

http://www.newtalismangoldmines.co.nz/wp-content/uploads/2020/07/new-talisman-ann-report-2020_scr.pdf

Have attached the 2020 annual report which describes the pilot plant itself and testing in case you haven't seen it. Based on a similar system in South Africa. Don't think there is any need for a 'feasibility report' requested in your earlier post. Re the coal and hard rock mining comparison I definitely get this is more expensive but was wanting to demonstrate underground crushing is regularly done where dust, water supply etc can be mitigated. Victor Rabone on the board is geotechnical engineer with specialised expertise in hard rock mining. No worries there is combination with Terra Firma. Lots of facts out there.
All is sweet then, they should be in production yesterday.

[fish]

Thats what face masks are for, been used in the industry for decades , most " grinding " is done outside the mine in processing in a wet situ.

Does not sound as if you are up to date with work safe requirements .
Simple face masks do not work for fine dust .
Likely to need powered air purifying respirator in the mine

I did notice amongst the historic pictures in the link to the 2020 report no face coverings of any kind were being used in the worker posing with the hand held rock drill in the 2004 drill-so why do you save face masks have been used for decades ?
If those workers have now developed silicosis acc may be involved .
Are the workers being monitored as by current health requirements ?

[Chippie]

Great time to actually extract some gold, the gold price is heading in the right direction

[tim23]

Great time to actually extract some gold, the gold price is heading in the right direction

Better to invest in SMI listed on the ASX based in Central Otago.

[whatsup]

Better to invest in SMI listed on the ASX based in Central Otago.

tim, what a pity we didnt know about this share 4 years ago at sub .10 now .80 !!! !!!

[tim23]

tim, what a pity we didnt know about this share 4 years ago at sub .10 now .80 !!! !!!

Quite right I was a bit later to the party - picked it up via Chris Lee website

[Paint it Black]

With the latest OCR rise NTL is going to struggle raising more cash up to the 20th April closing date. Better to take the market brake off now and let the SP raise the value of the company imo.

[whatsup]

Quite right I was a bit later to the party - picked it up via Chris Lee website

tim, I thought that he hasnt had the best record in the past but has that improved and what is his strike rate like now?

[tim23]

tim, I thought that he hasnt had the best record in the past but has that improved and what is his strike rate like now?

Just read about it on their Taking Stock column - good article a couple of weeks back.

[Daytr]

Great time to actually extract some gold, the gold price is heading in the right direction

Well that depends on the cost of production. Some here have questioned the need for a feasibility study as a miniscule trial has already performed. What a feasibility report would outline is the cost of production, required Capex & ounces produced. I understand due to the complex nature of the orebody that this is difficult to ascertain & herein lies the inherent risk of the project.
But at NZD 3,000 an ounce plus gold price, it does provide plenty of buffer in regards those production costs and if the grade gets up to close to an ounce a ton all the better.

[Felonius]

Re NTL Shortfall.
The cash issue at NZD 1.8 cents and AUD 1.7 cents is now open to anyone - not just current shareholders. I think it closes next Thursday (20th).
Here are the details.
https://stocknessmonster.com/announcements/ntl.nzx-409009

I increased my holding by taking up more shares in the shortfall for 2 reasons :
1. Increased (and significant) additional investment by two of our directors.
2. NTL announced earlier that it had raised $1.7m in the rights issue "and is now in a position to move forward with its strategic plan."

All looks good to me.

100% Downside
100% Upside ++
I am an optimist ...

[Daytr]

Interesting it's now trading at 1.9c.

[Landyman]

I think Jonu told us that NTL would be cashflow neutral (or better) by end of year - Im happy to gamble based on my (non-scientific) view that if NTL are ever going to go anywhere, it will be in the next 12 mths.

DYOR.

[nztx]

When's first gold going to be slammed down on the table for all to see ? :)

[Paint it Black]

When's first gold going to be slammed down on the table for all to see ? :)
The next quarterly report due end of April should help answer this question especially whether progress is made with a processor agreement. Shall we have a little competition?

[Daytr]

The next quarterly report due end of April should help answer this question especially whether progress is made with a processor agreement. Shall we have a little competition?

What do you suggest?

[Paint it Black]

Concentrate leaving mine end November 23. Refined gold ingot end January 24. Maybe Jonu would like to join in?

[clip]

The next quarterly report due end of April should help answer this question especially whether progress is made with a processor agreement. Shall we have a little competition?

I will say first gold being reported on 30/10/2023 in quarterley

[Bart]

Would be nice to buy a small gold bar in the shape of the NTL logo by 01/24- would be worth its weight in gold!

[sandi]

I agree with you a gold in the shape of the logo for shareholders

[whatsup]

Last chance today, tomorrows closing day ie 20th .

[Paint it Black]

Last chance today, tomorrows closing day ie 20th .

I'd say, per the announcements, it's before midnight on the 20th and then we should know the result on Friday. Then as important we will receive the March quarter report end of next week to gauge progress and how the SP will track. Wlth the current PoG at US $2,000 and the NZ dollar weakening this it has to help.

[Landyman]

Lets hope that whoever is doing the cash receipting tomorrow is super busy!!

[Fundamentalfinder]

Anyone else think they may extend the offer?

[whatsup]

Shortfall issue closed with $1.87 mil + a $300,000 commitment from a new shareholder ( as I read it), can someone please post the NZX ann for all to read.

LOOKING GOON imho !!

[percy]

[

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/410452/393204.pdf

[swissboy]

I dont understand why it is not possible to read their announcements on the NZX whilst it is readily available on the ASX

[whatsup]

$2.1 of a $3.4 mil wanted, q, how much progress will be able to be made with these hard earned and I sure that " IF " there is good gold produced the " next " c raising will be very well received .

[clip]

I dont understand why it is not possible to read their announcements on the NZX whilst it is readily available on the ASX

I also wonder this, is the nzx so **** that we can't even display our own announcements yet the aussies can display nzx ones?

[Landyman]

$2.1 of a $3.4 mil wanted, q, how much progress will be able to be made with these hard earned and I sure that " IF " there is good gold produced the " next " c raising will be very well received .

I wonder if this opens the door to bank funding to achieve the balance of funds required -guessing banks will be fairly risk averse to a old gold mine

[Daytr]

I wonder if this opens the door to bank funding to achieve the balance of funds required -guessing banks will be fairly risk averse to a old gold mine
I very much doubt it without a full feasibility study. Banks need to know what they are lending against. Anything lent against like equipment finance would need at least 200% cover imo, I.e lend up to 50% but I doubt they would even look at that. $2.1M should be enough to get things going if it's going to get going at all.
The $300k allocation is quite an endorsement.
I'm think we will see some positive news shortly on progress made to commence mining.

[whatsup]

Upon reading the just released todays Qr ann I note Admin expenses for the 12 month period of $1,129,570 which has a note, see annexure 1 but there is no note, WHY , I thought that the new broom had swept the outfit clean !!

[winner69]

Upon reading the just released todays Qr ann I note Admin expenses for the 12 month period of $1,129,570 which has a note, see annexure 1 but there is no note, WHY , I thought that the new broom had swept the outfit clean !!

That Strategic Delivery Manager quite expensive and still on payroll

[Not too Flash]

Admin Fees reducing ....


The December 2022 Quarter had some significant one off administrative costs associated with settlement of acontractual dispute these amounted to $169,987. In addition the annual insurance amounting to $85,614 was paidin the December quarter and a short term fixed contract was paid in the December quarter for Strategic Delivery of$35,000. The ordinary ongoing administrative operating costs are approximately $185k per quarter

[nztx]

Admin Fees reducing ....


The December 2022 Quarter had some significant one off administrative costs associated with settlement of acontractual dispute these amounted to $169,987. In addition the annual insurance amounting to $85,614 was paidin the December quarter and a short term fixed contract was paid in the December quarter for Strategic Delivery of$35,000. The ordinary ongoing administrative operating costs are approximately $185k per quarter


Don't forget the retainer for keeping Jane's secretarial deliveries flowing nicely :)

The progress reports on their own are worth 2c ..

[Daytr]

For those who haven't read about the history of the mine I thought you might find this interesting.
https://www.engineeringnz.org/programmes/heritage/heritage-records/karangahake-gold-mining/

[Felonius]

For those who haven't read about the history of the mine I thought you might find this interesting.
https://www.engineeringnz.org/programmes/heritage/heritage-records/karangahake-gold-mining/

Thank you Daytr - fascinating.

[Landyman]

Gold was depleted by 1938 - lets hope its not 100 year anniversary before it produces anymore - Jonu, go you good thing!!!

[Daytr]

Go gold! As we used to say on the trading desk in Aussie. In a Clarkey impersonation. Go gold you good thing!
Hit $2,083 today! Now $2,052.

[Daytr]

In the quarterly report it said the health & safety plan to return to mining had been finalized. Imo this is a crucial element considering they will be doing the bulk of processing underground.
Why hasn't the details of this plan been released?
I think shareholders deserve better communication than a one page quarterly report!

[Hawkeye]

In the quarterly report it said the health & safety plan to return to mining had been finalized. Imo this is a crucial element considering they will be doing the bulk of processing underground.
Why hasn't the details of this plan been released?
I think shareholders deserve better communication than a one page quarterly report!

A one page quarterly if far better than shareholders used to get, and the board know it. The cogs turn slowly in the govt when it comes to underground mining these days, but I'm confident jonu will find a way for it to happen.

[fish]

In the quarterly report it said the health & safety plan to return to mining had been finalized. Imo this is a crucial element considering they will be doing the bulk of processing underground.
Why hasn't the details of this plan been released?
I think shareholders deserve better communication than a one page quarterly report!

I am really puzzled as to how health and safety requirements will be met processing underground

[Daytr]

I am really puzzled as to how health and safety requirements will be met processing underground

Well it's key, as without it there is no mining.
I would assume the H&S report would include the scale of mining that is being proposed as otherwise its not finalized as it suggests.
That's why I think this critical report is released to the market.

[jonu]

John Upperton NTL Director here.

There is a misconception as to the nature of the Health and Safety Management System (HSMS). It is a library of documents that contains significant IP of NTL and is not prepared for, or expected to be, available for Market Release.

The nature of the HSMS is an overarching set of practices within which are Safe Operating Procedures (SOPs), that are adapted to different tasks and hazards that already have been identified or arise in the future.

NTL's pre-existing HSMS was reviewed and refreshed by Terra Firma Mining Ltd.

[clip]

Thanks Jonu!

[Daytr]

So unfortunately we are none the wiser in regards proposed volume of mining.

There is no reason why a summary of the H&S report couldn't be released without disclosing IP.

As mentioned previously, the scale of mining / processing underground will dictate what is required in regards ventilation and dust extraction systems. The current H& S report apparently doesn't cover this.

These are all assumptions of course, due to the lack of information available to shareholders. Surely a company that says they are aiming to commence mining in the near term should be able to state, what the hurdles that need to be addressed to be able to start mining.

And critically, what volume they are looking to mine. Is it a slow build in volume over time?
In my time dealing with junior mining companies in Australia, they outline their ambition, I.e they are modeling to process X or a range between X Y. If they don't actually know then state that and set a time frame when they will be able to make that estimate.