NTL - New Talisman Mine - New board & Directors

[bucko]

this is the longest 90 days of my life

90 days would have been 12 march, 90 business days is the end of April :(

Just give us an update!

[BigBob]

this is the longest 90 days of my life

90 days would have been 12 march, 90 business days is the end of April :(

Just give us an update!

Assuming "90 days" is 90 days, you'd think the would have to, wouldn't you - there are as far as I can see only three possible scenarios...:

1. The Chinese have walked away - which is material information
2. The Chinsese are on board - which is material information, and
3. The Chinese have got another extension - which is also material information

So if that were the case the company would be in breach of NZX rules... On the other hand because NTL is just a tiny penny dreadful maybe nobody gives a toss....

Of course if "90 days" is 90 business days the company could provide some clarification and an update on the process, but because they are just a tiny penny dreadful and nobody gives a toss, why should they bother...

In conclusion I assume that even tiny penny dreadfuls have to follow the rules and I must therefore conclude that "90 days" is 90 business days and that the HOA is not due to expire until the end of April, so am expecting nowt but deafening silence from NTL until then....

[Landyman]

Assuming "90 days" is 90 days, you'd think the would have to, wouldn't you - there are as far as I can see only three possible scenarios...:

1. The Chinese have walked away - which is material information
2. The Chinsese are on board - which is material information, and
3. The Chinese have got another extension - which is also material information

So if that were the case the company would be in breach of NZX rules... On the other hand because NTL is just a tiny penny dreadful maybe nobody gives a toss....

Of course if "90 days" is 90 business days the company could provide some clarification and an update on the process, but because they are just a tiny penny dreadful and nobody gives a toss, why should they bother...

In conclusion I assume that even tiny penny dreadfuls have to follow the rules and I must therefore conclude that "90 days" is 90 business days and that the HOA is not due to expire until the end of April, so am expecting nowt but deafening silence from NTL until then....

Ahhh, I think we have all missed the point that the CHinese may actually be talking about the length of a Mercurian day which is almost 59x longer than that on Earth - therefore still 88 days to go..........

[blackcap]

Why not just ring the company and ask them what is going on?

Country: NZL
Telephone: +64-9-303-1893
Fax:
Company Secretary: Susan Sangster

Susan should be able to oblige?

[Minerbarejet]

Dear Nick,,

[BigBob]

Why not just ring the company and ask them what is going on?

Country: NZL
Telephone: +64-9-303-1893
Fax:
Company Secretary: Susan Sangster

Susan should be able to oblige?

It went like this...:

NTL: "Sorry, we will update the market in due course...".....

ME: "Fair anough, but could you at least confirm when the HOA expires...?"

NTL: ".....".... <--- that's to illustrate deafening silence....

[blackcap]

It went like this...:

NTL: "Sorry, we will update the market in due course...".....

ME: "Fair anough, but could you at least confirm when the HOA expires...?"

NTL: ".....".... <--- that's to illustrate deafening silence....

Hmmm ok, fair call. Time to dump the shares methinks if that is what you get from a company.

[Minerbarejet]

Hmmmmm. Very interesting, over 1 million disappear from .013 asx sell , next stop .20. Somethings up?

[jonu]

Could just as easily be a stale ask timing out with all the raging liquidity that goes on with NTL! ;)


Yeah, nah. A stale order would have disappeared this morning not after close in the evening. I'm with Miner, why would you hang out a juicy carrot like that when news is imminent?

[jonu]

Good discipline being shown on the ASX, with offer at 1.9. Markets ready for something-I like, I like very much. There is much to like.:)

Discl: Holding heaps.

[Landyman]

NTL seem to have gone all retro on us - silent movie anyone?

[robbo24]

NTL seem to have gone all retro on us - silent movie anyone?

Someone write to them please.. I want to do another round of "Dear Nick" letters.

[Minerbarejet]

There should be something soon.

[Bobcat.]

Timing of course is important. If tonight we see the price of gold do its pirouette and head north again then a positive NTL announcement sometime this month could boost its perceived value and price quite nicely.

Discl: holding...still.

[jonu]

I've just reread the last announcement of 23rd Jan. and we are well overdue an update imho. Various site visits by execs and technical people were due in Feb. The 90 days extension by my reading expired in Mid-March, going by the statement that said the 90 days related to the HOA dated 12 December. Perhaps management are hard at work finalising something, or if negotiations are ongoing it is dragging it out, either way we should be informed.:mad ;:

[robbo24]

Dear Nick,

Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal.

NTL Management

[jonu]

As I replied to another member, the Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal. Look at WCL.AX to see what I mean.

Concordantly, I am not holding my breath here (I'd be KIA by now anyways!)

Moose when I put that reply together with your comments on "fat germans" it's not a great look. I don't judge Canadians by your actions, which maybe a relief to them:p

[Minerbarejet]

Wouldnt have thought so - you are hardly conservative. :)

[Minerbarejet]

Good luck with sending a goldmine through the mail, Moosie . Postage will be horrendous.

[Stumpynuts]

As I replied to another member, the Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal. Look at WCL.AX to see what I mean.

Concordantly, I am not holding my breath here (I'd be KIA by now anyways!)


Hi guys I am someone who is both a Kiwi and someone of Chinese background I can give my perspective. I just came back from 3 weeks in China to visit in-laws and other family members.
My father in law is a pretty well off businessman involved in steel&construction.
From what I witnessed Chinese actually do business similar to Westerners in a lot of ways but IMO what makes China different from western practices of doing business are the laws and structure of government.

[robbo24]

Hi guys I am someone who is both a Kiwi and someone of Chinese background I can give my perspective. I just came back from 3 weeks in China to visit in-laws and other family members.
My father in law is a pretty well off businessman involved in steel&construction.
From what I witnessed Chinese actually do business similar to Westerners in a lot of ways but IMO what makes China different from western practices of doing business are the laws and structure of government.

Indeed, thank you for the reminder that moosie_900 is just one opinion.

If you set your watch by him you could be early, late and on time all at once...

[Stumpynuts]

Cheers Stumpy for the insight ;)

No probs,

Similarities:
- Companies in both countries do the work first and then chase creditors for payment (Mainzeal anyone?)
- Business meetings take place during breakfast&lunch (Expense claims)
- You scratch my back & I'll yours applies both here and there
- Getting on the p*ss during business talks
- Cash jobs

Differences:
- Personal relationship with the person you're doing business with has to be established first before any talk of business can take place (Cannot just talk business and only business, you have to get to know other business person at a personal level)
- Getting on the p*ss in China is mandatory during business talks. Even if you don't want to drink, if you don't drink then you insult the other party and pretty much don't get to do business later on
- People fight to be the one who pays the bill during breakfast/lunch (Happens quite frequently here during Yumcha)
- Less employment disputes in China (Work or starve in China, unlike NZ where a toxic employee can still claim for unjustified dismissal blah blah)
- Status is everything (Even if you're rich enough to live comfortably, if you don't drive a BMW/Merc/Bentley etc then you're considered to not to be someone worth doing business with)


There are only but a mere fraction of things I know of, and above only really applies for medium-larger companies as far as I know.

[Landyman]

And were done - St Albans OUT, bank loans IN

[Landyman]

And were done - St Albans OUT, bank loans IN

GENERAL: NTL: Chinese Investor Update

4th April 2014
FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
Chinese investment update
New Talisman Gold Mines announced today that it has been unable to reach a
satisfactory commercial agreement with St Albans.
A Heads of Agreement (HoA) was signed by NTL in December 2013 with St Albans
who were unable to commence on-site due diligence within the timeframe set
out in the HoA. Despite the lapsed HoA both parties had continued discussions
in good faith. Ultimately the NTL directors have decided that these
discussions did not reflect the offer of direct investment into NTL on the
basis set out in the HoA and have declined to proceed.
NTL has subsequently received a letter of intent from the Langfang Group
proposing an earn-in arrangement whereby Langfang would provide at its cost,
technical, engineering and specialist ore extraction and treatment services
in exchange for a percentage of the project. NTL considered that this
proposal in the form provided was not acceptable.
NTL is currently at an advanced stage of negotiating an alternative financing
arrangement for the Talisman project and expects to be in a position to
update shareholders in the coming weeks.
Executive Director Matthew Hill said, "With alternative financing options
open to NTL the board felt that the options presented during negotiations
were not in the best interests of New Talisman shareholders. We have made
excellent progress towards reopening the Talisman Mine and we are still on
track to enter and upgrade access in preparation for gold production."

[robbo24]

And were done - St Albans OUT, bank loans IN

Nick will be happy to finally have his answers.

Props to NTL Management for keeping it real. If they weren't going to stick to the principles of the HoA then they can shove right off of NTL.

NTL is a gem. Easy access, high grade gold and in a stable political system with the rule of law.

[Landyman]

Nick will be happy to finally have his answers.

Props to NTL Management for keeping it real. If they weren't going to stick to the principles of the HoA then they can shove right off of NTL.

NTL is a gem. Easy access, high grade gold and in a stable political system with the rule of law.

And the share price is going ?????????? No where as it turns out. Fully priced in that the investor was a bargain hunter trying to take the mick......

[robbo24]

And the share price is going ??????????

Shareprice doesn't matter, not that it's going anywhere.

Long term, which is what most NTL people are (by choice or otherwise), it's the better option if the intended partner was being silly.

[jonu]

This is certainly very interesting news. If the announcement was the deal was dead on its own I would have been a bit worried about where to now, but given they are saying they are well advanced on financing its fantastic news. One would assume no horrendous splitting of profits and confirmation expected in a matter of weeks.

Discl:Still holding tight

[Bobcat.]

I agree it's a positive announcement given NTL Management have confirmed they are not willing to sell out to the first financier that comes along with what turns out to be an empty promise.

[robbo24]

Even a bit of media coverage (https://news.google.com/news?ncl=dt7sli1SvPGP6fM-BGlVQtTbx85iM&q=%22New+Talisman+Gold+Mines%22&lr=English&hl=en&sa=X&ei=WHI-U520M4z9lAWatoDAAg&ved=0CDAQqgIwAQ).

[Landyman]

Could lightning strike twice in the next few weeks - a Premiership for Liverpool (possible), and a major announcement for NTL? I'll take either

It would appear the wind has gone from the NTL sails for now.

[jonu]

It sure is a waiting game with this crowd. Price has eased back on low volume. I imagine there will be buyers watching to buy on the spike of the financing announcement. I guess the "coming weeks" statement is about as vague a statement as the previous "soon". Still, am expecting happy days ahead, just not too many days ahead I hope:cool:

[blackcap]

It sure is a waiting game with this crowd.

Funniest comment i have seen all week. So true. Have been waiting nigh on 20 years myself :) (well actually I sold out a while back but I think ppl can wait another 20 years if their track record is anything to go by)

[Bobcat.]

Why would it take very long to arrange alternative finance? Given the Chinese deal must've looked shaky several weeks ago, I'm expecting an alternative arrangement (long-term loan?) to be announced sometime this month....call me optimistic.

BC

[jonu]

Why would it take very long to arrange alternative finance? Given the Chinese deal must've looked shaky several weeks ago, I'm expecting an alternative arrangement (long-term loan?) to be announced sometime this month....call me optimistic.

BC

I agree BC. Certainly by mid-May anyway.

[Bobcat.]

Let's hope, as BRL have just announced, it's not capital raising by way of a cheap issue to institutions and 'otherwise sophisticated investors' at say 0.8c !

[silverblizzard888]

Well they do say "advanced stage of negotiating an alternative financing arrangement" so this has been a decision made up a while ago or that they were talking with alternative financing while they were talking with the Chinese.

The part I love best is the "we have made excellent progress towards reopening the Talisman Mine and we are still on track to enter and upgrade access in preparation for gold production.”

As much as we hate to wait, we know progress is ongoing with the site preparation, either way as long as things are moving along I'm happy to sit and wait.
Haha yeah please NTL don't do a BRL.

[bucko]

OK Easter and ANZAC Period is now over, time to get to business and make the announcement please :)

Also does anyone use Direct Broking? Or used to....the 'ANZ Securities' website i just dont like it

[bucko]

FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
TALISMAN MINE FINANCING OFFER ACCEPTED
New Talisman Gold Mines Limited announced today that it has accepted an offer
of a structured financing facility for the Talisman Mine project. The terms
of the acceptance letter signed by NTL provide for A$1.6M of an A$2M
converting note facility to be advanced subject to satisfaction of certain
conditions, including entering into satisfactory security and other facility
documentation. The converting note provides for NTL at its sole discretion to
either:
1) Upon repayment of 30% of the loan Convert 70% of the loan to equity at the
end of the 12 month period, or
2) Repay the loan in full, or
3) Upon repayment of 30% of the loan, roll the loan over the remaining 70%
for a further 12 month term.
The funds drawn down from this facility will be applied to the Talisman mine
bulk sampling project and working capital requirements. NTL anticipates the
$1.6M will be sufficient capital to allow NTL to initiate the bulk sampling
program outlined to shareholders at the 2013 AGM. The bulk sampling project
provides for the first cash flows from New Talisman's mining operations and
will allow NTL to be cashflow positive within 12 months from the start of
bulk sampling operations which are expected to begin in the second half of
2014.
Under the terms of the accepted offer NTL expects to be in a position to
execute documentation and have access to the funds within 30 days. NTL will
announce the detailed terms of the facility once documentation has been
executed.
Executive Director Matthew Hill said, "In a very difficult climate for junior
miners' particularly gold-related juniors, NTL is particularly pleased to
have been able to attract an offer to finance the development of the Talisman
mine through to first production. It is an indication of the very attractive
investment proposition the Talisman mine represents. We remain on track to
reopen the Talisman Mine; historically a highly productive, high grade gold
mine in one of the most productive gold mining areas in NZ and our transition
from developer to producer status is nearly complete. We are mindful that our
shareholders have indicated a strong interest to participate in the funding
of Talisman and the board is currently reviewing options to allow such
participation."
Matthew Hill
CEO
New Talisman Gold Mines Limited
Direct +64 27 5557737
Matt@newtalisman.co.nz

[Landyman]

And thats it - funds are there now - go NTL go!

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
TALISMAN MINE FINANCING OFFER ACCEPTED
New Talisman Gold Mines Limited announced today that it has accepted an offer
of a structured financing facility for the Talisman Mine project. The terms
of the acceptance letter signed by NTL provide for A$1.6M of an A$2M
converting note facility to be advanced subject to satisfaction of certain
conditions, including entering into satisfactory security and other facility
documentation. The converting note provides for NTL at its sole discretion to
either:
1) Upon repayment of 30% of the loan Convert 70% of the loan to equity at the
end of the 12 month period, or
2) Repay the loan in full, or
3) Upon repayment of 30% of the loan, roll the loan over the remaining 70%
for a further 12 month term.
The funds drawn down from this facility will be applied to the Talisman mine
bulk sampling project and working capital requirements. NTL anticipates the
$1.6M will be sufficient capital to allow NTL to initiate the bulk sampling
program outlined to shareholders at the 2013 AGM. The bulk sampling project
provides for the first cash flows from New Talisman's mining operations and
will allow NTL to be cashflow positive within 12 months from the start of
bulk sampling operations which are expected to begin in the second half of
2014.
Under the terms of the accepted offer NTL expects to be in a position to
execute documentation and have access to the funds within 30 days. NTL will
announce the detailed terms of the facility once documentation has been
executed.
Executive Director Matthew Hill said, "In a very difficult climate for junior
miners' particularly gold-related juniors, NTL is particularly pleased to
have been able to attract an offer to finance the development of the Talisman
mine through to first production. It is an indication of the very attractive
investment proposition the Talisman mine represents. We remain on track to
reopen the Talisman Mine; historically a highly productive, high grade gold
mine in one of the most productive gold mining areas in NZ and our transition
from developer to producer status is nearly complete. We are mindful that our
shareholders have indicated a strong interest to participate in the funding
of Talisman and the board is currently reviewing options to allow such
participation."
Matthew Hill

[Crow]

NTL - NEVER TOO LATE :t_up:

[bucko]

smart, i like it, its a straight loan so no loosing a % of the mines income.

12 month extension option is also smart, if for some unforseen reason there is a delay in production or income is less than forecast or production is less than expected then we have the option to extend the term of the loan by another 12 months

[Minerbarejet]

Good call bucko - must have heard you:)

[jonu]

I was late seeing announcement. Normally come through on my emails. Still not through 35 mins later. Anyone else with the same problem?
Might explain the muted response thus far.

[robbo24]

NTL, time to remove the overburden and hit the paydirt.

Then time to clean the refined paydirt and weigh the gold.

Then pay me some money.

[blackcap]

for those interested plenty on offer at 1.1 in Australia. You have about 30 minutes to get your buy order in :)

[jonu]

for those interested plenty on offer at 1.1 in Australia. You have about 30 minutes to get your buy order in :)

It's not showing on the Oz board announcements yet. Something is up with the system, either ANZ or the NZX.

[bucko]

http://www.stuff.co.nz/business/industries/9984796/Business-briefs-NZX-delay

yeh there are issues on the NZX side this morning

[whatsup]

for those interested plenty on offer at 1.1 in Australia. You have about 30 minutes to get your buy order in :)

1.2 now, IMHO NTLOA's are a better buy for leverage considering the Nov 2017 expiry date, 4 + years to get organised.

[whatsup]

Aussie at par 1000000 at 014

opened @ 1.1

[jonu]

opened @ 1.1
Still not showing on the Oz board as an announcement. P$ss poor!

[jonu]

Of all the mornings for ANZ to launch their new site. Firstup I am getting ANZ announcements fine, then google decide they are spam and I don't see NTL announcement. Then ANZ site not showing Asx announcements which they remedied about 15 mins ago.

Any way, there is the sniff of a rights issue in the announcement, and we all know what happens leading into one of those:D:D:D:cool:

[bucko]

is anyone else scratching their heads as to the lack of movement this announcement caused?

[jonu]

is anyone else scratching their heads as to the lack of movement this announcement caused?

Yes Bucko, I am somewhat bemused. It's far better than their earlier deal. Maybe the hint of a rights issue has put people off, but leading into those the price normally gets pumped. It needs the Oz listing to wake up to it.

Equally odd are those wanting to bail at 1.4. Each to their own I guess

[robbo24]

Yes Bucko, I am somewhat bemused. It's far better than their earlier deal. Maybe the hint of a rights issue has put people off, but leading into those the price normally gets pumped. It needs the Oz listing to wake up to it.

Equally odd are those wanting to bail at 1.4. Each to their own I guess

Its just penny dreadful behaviour.

No harm done if you believe deep down that NTL will dig gold out of the ground and sell it.

So, the question is: What is the fundamental value of NTL the producer of gold?

[Landyman]

Its just penny dreadful behaviour.

No harm done if you believe deep down that NTL will dig gold out of the ground and sell it.

So, the question is: What is the fundamental value of NTL the producer of gold?

I hate to say it, but some of the traders out there who managed to pick up share at 0.9, or even 1.0 have made a pretty penny already (wish I was one of them), probably with the short term expectation that share price will drift back down to the 1.1-1.2 range again soon, only to make another few hundred/thousand.

You are right, true value will be when gold is coming out of the hole.

[jonu]

Yup the usual spike on news of any kind with my usual sell down! Remember, gold miners, especially juniors/explorers, are still very much the punching bag of the market!

Except there wasn't a spike, just a bit of volume. I'm hoping it might be a bit more of a slow burner and build from here, maybe wishful thinking, but the world loves an optimist, or am I being an optimist about that?:)

[Paint it Black]

An explorer moving to junior producer status with massive grades is not being too optimistic!

And the ANZ is willing to take on the risk which much add to the optimism. We just now need regular (no more than monthly) feedback from NTL as they progress towards production and some success stories. Start with the very easy pickings and get some nugget images into the press!

[Landyman]

And the ANZ is willing to take on the risk which much add to the optimism. We just now need regular (no more than monthly) feedback from NTL as they progress towards production and some success stories. Start with the very easy pickings and get some nugget images into the press!

Agreed, some decent press coverage may get the 10 bagger we all want.

[blackcap]

Their goodwill (or should I rename that badwill) must be almost gone judging by the shareprice activity of late. Maybe just maybe a little punt is worth it at this stage for a trade. In for a few (on the bid at 1)

[jonu]

Sounds reasonable to me blackcap. I'm already in heavily at an average of 1.15. Looking at the volumes of those wanting to exit the announcement certainly brought out the sellers rather than the buyers. The old adage of the market being irrational longer than punters remaining solvent springs to mind. I think the sp story will be very different a little down the track, although Landymans 10 bagger might be a wee bit ambitious by my reckoning. Nice to dream though!

[robbo24]

Sounds reasonable to me blackcap. I'm already in heavily at an average of 1.15. Looking at the volumes of those wanting to exit the announcement certainly brought out the sellers rather than the buyers. The old adage of the market being irrational longer than punters remaining solvent springs to mind. I think the sp story will be very different a little down the track, although Landymans 10 bagger might be a wee bit ambitious by my reckoning. Nice to dream though!

Take any price above 1cps you can get. Another share purchase plan is on the cards. Why pay a premium?

[jonu]

Take any price above 1cps you can get. Another share purchase plan is on the cards. Why pay a premium?

Well, sometimes (almost always) prior to an spp the price is pushed up to stir interest and raise the spp entry.

[robbo24]

Well, sometimes (almost always) prior to an spp the price is pushed up to stir interest and raise the spp entry.

Tell that to WYN holders :)

People paying 3.30 per share to be in with a grin, Nek Minnit, now sitting around 2.30 with the spp completed at 2.36...

[MAC]

I had run some numbers and a risk free valuation just prior to the Chinese offer but was abruptly put off from considering any investment at that time not just because of the nature of the Chinese offer but also because management were actually considering it for a while there.

Revisiting it now on yesterday’s announcement, I’ve a risk free valuation and sensitivity analysis on the first stage development as below;

I wouldn’t contemplate buying into a junior gold mine start-up with greater than a five or six year payback and thus I have no focus or interest in second stage development economics at this time, each to their own risk management approach within this sector.



NTL Stage 1 Risk Free Valuation


Gold Price
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700


Valuation
0.5c
0.8c
1.2c
1.6c
2c
2.4c
2.8c
3.1c


Basis: WACC 13%, PG at FY20 3%, 32,000ounces extracted over five years at US$750/ounce.

Risk aside, it seems priced to perfection about here ?

If anyone has alternate analysis I’d be interested in comparing notes with others as usual, online or offline ?.

many regards, Mac

[whatsup]

I had run some numbers and a risk free valuation just prior to the Chinese offer but was abruptly put off from considering any investment at that time not just because of the nature of the Chinese offer but also because management were actually considering it for a while there.

Revisiting it now on yesterday’s announcement, I’ve a risk free valuation and sensitivity analysis on the first stage development as below;

I wouldn’t contemplate buying into a junior gold mine start-up with greater than a five or six year payback and thus I have no focus or interest in second stage development economics at this time, each to their own risk management approach within this sector.



NTL Stage 1 Risk Free Valuation


Gold Price
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700


Valuation
0.5c
0.8c
1.2c
1.6c
2c
2.4c
2.8c
3.1c


Basis: WACC 13%, PG at FY20 3%, 32,000ounces extracted over five years at US$750/ounce.

Risk aside, it seems priced to perfection about here ?

If anyone has alternate analysis I’d be interested in comparing notes with others as usual, online or offline ?.

many regards, Mac

Mac, is that U S $ or Kiwi $ ?

[MAC]

Mac, is that U S $ or Kiwi $ ?

Hi Whatsup,

I always use an NZD base, so gold price in NZD, valuation output in NZD, 0.85 exchange rate applied on US$750/ounce COGS.

At the present gold price of US$1,200/ounce (NZ$1,412) my DCF valuation on stage 1 is 2.02c, so around 102% upside from present SP.

At a gold price of US$980 (NZ$1,150) my DCF provides a breakeven valuation at 1.0c.

A forward gold price of US$980 is a possibility if we do enter a secular bull cycle. This seems though to represent a break even level for a lot of operations internationally and so may also though represent an industry floor ?

Forward prospective movements in gold price aside, I'm still weighing up the risk vs reward position on NTL, interested in your thoughts and others too ?

regards, Mac

[Stumpynuts]

Hi Whatsup,

I always use an NZD base, so gold price in NZD, valuation output in NZD, 0.85 exchange rate applied on US$750/ounce COGS.

At the present gold price of US$1,200/ounce (NZ$1,412) my DCF valuation on stage 1 is 2.02c, so around 102% upside from present SP.

At a gold price of US$980 (NZ$1,150) my DCF provides a breakeven valuation at 1.0c.

A forward gold price of US$980 is a possibility if we do enter a secular bull cycle. This seems though to represent a break even level for a lot of operations internationally and so may also though represent an industry floor ?

Forward prospective movements in gold price aside, I'm still weighing up the risk vs reward position on NTL, interested in your thoughts and others too ?

regards, Mac


Regards to news the other day - If Chinese investment is all but shot dead, then NTL could always try and get local capital via managed Kiwisaver investment companies backing them up in the future.

One example off the top of my head was Milford buying Burger Fuel shares. There will be countless others.

It would be good for NZ as a whole to tap into local investment funds instead to bring back them billions and billionswhich could be spent on improving NZ'ers quality of life.

[jonu]

MAC, from what I can see your valuation is based only on current proveable resource at Talisman and hasn't allowed for what they will find once they get digging. Also what about the Australian assets?

[MAC]

MAC, from what I can see your valuation is based only on current proveable resource at Talisman and hasn't allowed for what they will find once they get digging. Also what about the Australian assets?

Absolutely, there is a lot of potential there and all the potential in the world for the company.

Gold mining is a risky business, even JORC reports are no guarantee that the resource will prove to be actually economically recoverable although I do commend management in pursuing that level of work up.

It's just a methodology for me that I don't value forward revenue streams until they become, not necessarily proven, but 'shovel ready' let's say.

Gold price is a factor too and consideration of a 5 to 6 year payback is about my risk tolerance within this sector. Most small start-up gold miners do go bust, and for reasons that may not have been anticipated at the get go.

I'm positive on NTL though, they have a big future IMHO, they’ve worked up the pre-feasibility well and ticked all the boxes thus far.

I'm teetering though as to the risk/reward position at $0.012, I need to brood some more.

[Landyman]

Rights issue announced - well picked by members on the forum

[whatsup]

Rights issue announced - well picked by members on the forum

Looks like NTL is finally going to make a go it mining by its self--- subject to a successful funding from the brave-- looks priced O K to me !

[robbo24]

Can someone with more experience in rights issues explain how rights trading will work for NTL?

You can buy rights from others, or sell your rights, then pay .8 of a cent to NTL to convert these to shares? Yes?

Good or bad?

[MAC]

Looks like NTL is finally going to make a go it mining by its self--- subject to a successful funding from the brave-- looks priced O K to me !

Cripes, 283M new shares to be issued, a 50% dilution at only a 38% discount on the NZX 5 day VWAP, makes NTL the winner on the day.

Still if it successfully provides the required capital it will de-risk NTL a little further.

[Snow Leopard]

Can someone with more experience in rights issues explain how rights trading will work for NTL?

You can buy rights from others, or sell your rights, then pay .8 of a cent to NTL to convert these to shares? Yes?

Good or bad?
It would seem that the rights can be traded:

so you can sell your rights - at this stage it looks like the price for the rights could be 0.2c each so if you have 30,000 shares you will get 15,000 rights which if you sell them at 0.2c each will get you $30, deduct the $30 brokerage and you have $0 left.

If you buy rights (at 0.2c each) then your broker will take 1c (0.2c for the right and 0.8c for the new share) from your account.

Best Wishes
Paper Tiger

[robbo24]

Ok, so, if I sell half my holding at 1 cent then I can buy it back at .8 ;)

Right? :)

[Snow Leopard]

Ok, so, if I sell half my holding at 1 cent then I can buy it back at .8 ;)

Right? :)

Yes but...

The record date is Friday 9th May so do not sell your half before the ex-rights date (of Wed 7th May?)

Best Wishes
Paper Tiger

[Bobcat.]

Ok, so, if I sell half my holding at 1 cent then I can buy it back at .8 ;)

Right? :)

If you sell half before the ex-rights date, you can only buy half of what remains (i.e. a quarter) back at 0.8c. It's a 2:1 rights issue.

[epithermal]

Cripes, 283M new shares to be issued, a 50% dilution at only a 38% discount on the NZX 5 day VWAP, makes NTL the winner on the day.

Still if it successfully provides the required capital it will de-risk NTL a little further.

MAC your numbers are all over the place.

What relevance is discount to dilution????

Assuming NTL raises fully therefore being a producer and funded suggests this pricing is cheap as chips!!! harly derisking a little where the shares issued are back by CASH!

No matter which way the company is valued be it economically mineable resources - aka reserve, dcf basis on near term plan which was spoken at the AGM it appears great value at 1.2 and even better for at .008!! .

32,000 ounces on your pricing previous = how much per ounce in ground? current values appears to rate a measured resource at a higher $$ figure in ground value and well higher for reserves in ground which improve as a company closes in on mining. add back to that a pricing on in ground resources (not reserves) and comparative to peers such is undervalued. There was a table in one of Talismans presos which had this I just cant find which one it was a few years back. As another member pointed out a holding in listed entity on ASX and an unlisted explorer and it just shows how cheap this offer is to shareholders.

I do agree it is commendable that in a short space of time this company has seemingly transitioned from an explorer with very differing skillsets to a very skilled management team able to attract continued investment and progress a project while many many projects are closing down in this market.

I do hope we can apply for overs in the issue. Shareholders are the clear winners by a country mile in this!!!

DYOR - HOLDING NTL, NTLOA, NTLO

[epithermal]

If you sell half before the ex-rights date, you can only buy half of what remains (i.e. a quarter) back at 0.8c. It's a 2:1 rights issue.

1:2 not 2:1

[MAC]

If your shares had a share price yesterday at $0.012, then the 50% dilution and the discounted price they are offered at today, means they are worth by calculation around $0.010c upon share issue, or, they are worth whatever the market deems they are worth following what is a de-risking event.

How well you do will depend on what the market perceives the value of NTL to be following this event, the SP is holding up very well following the announcement today at $0.010 so far, although few buyers seem to have fled.

Some caution is warranted though as it is a rights issue in the companies favor not necessarily directly in the investor's;

Compare this rights issue to that of CRP a couple of weeks ago, which IMHO, already had a much better risk/reward position than NTL;

NTL: A 50% dilution at a 38% price discount.
CRP: A 10% dilution at a 60% price discount

Edit: Per good advice from Jonu, share value by calculation is $0.010 and not $0.006.

[jonu]

If your shares had a share price yesterday at $0.012, then the 50% dilution today means they are worth by calculation $0.006c upon share issue, or, they are worth whatever the market deems they are worth following what is a de-risking event.

How well you do will depend on what the market perceives the value of NTL to be following this event, the SP is holding up very well following the announcement today at $0.010 so far, although few buyers seem to have fled.

Some caution is warranted though as it is a rights issue in the companies favor not necessarily directly in the investor's;

Compare this rights issue to that of CRP a couple of weeks ago, which IMHO, already had a much better risk/reward position than NTL;

NTL: A 50% dilution at a 38% price discount.
CRP: A 10% dilution at a 60% price discount

MAC, it would be a 50% dilution only if they gave the shares away for nothing, which they are not.

[Blue Horseshoe]

New Talisman advises that it intends to make a rights issue offer to existing shareholders in Australia and New Zealand of one new share for every two shares held at the Record Date on payment of NZ$0.008 or AU$0.008 per new share.


Where do you get 50% dilution from?

[robbo24]

New Talisman advises that it intends to make a rights issue offer to existing shareholders in Australia and New Zealand of one new share for every two shares held at the Record Date on payment of NZ$0.008 or AU$0.008 per new share.


Where do you get 50% dilution from?

In bold. I hope I replied quick enough so you are spared a scathing post by Paper Tiger..

[epithermal]

If your shares had a share price yesterday at $0.012, then the 50% dilution today means they are worth by calculation $0.006c upon share issue, or, they are worth whatever the market deems they are worth following what is a de-risking event.

How well you do will depend on what the market perceives the value of NTL to be following this event, the SP is holding up very well following the announcement today at $0.010 so far, although few buyers seem to have fled.

Some caution is warranted though as it is a rights issue in the companies favor not necessarily directly in the investor's;

Compare this rights issue to that of CRP a couple of weeks ago, which IMHO, already had a much better risk/reward position than NTL;

NTL: A 50% dilution at a 38% price discount.
CRP: A 10% dilution at a 60% price discount

ummmmm do we assume the cash raised from issuing shares and funding applied turning company into producer equates to nought!!!!!!!!!!!!!!!!!!!!!!

[Bobcat.]

1:2 not 2:1

Yes, for every two shares we will have the right to purchase one more at 0.8c (same price for holdings on the asx and nzx). It is better value if you hold NTL.nzx. If your holding is on the asx, and you want to take up the rights, you could ask Computershare's Investor Services (e.g. Charmaine Bartlett in their AKL office) to first shunt across your head shares onto the nzx.

[epithermal]

Yes, for every two shares we will have the right to purchase one more at 0.8c (same price for holdings on the asx and nzx). It is better value if you hold NTL.nzx. If your holding is on the asx, and you want to take up the rights, you could ask Computershare's Investor Services (e.g. Charmaine Bartlett in their AKL office) to first shunt across your head shares onto the nzx.

thanks BC great advice

[MAC]

Umm, yes apologies, you are correct a little too, it is a share dilution of 50%, the SP will still devalue as the dilution is substantial and offered at a price lower than the VWAP. I’ll humbly go back and edit my post.

[robbo24]

I'm thinking about taking up the offer. What about you cats?

[Crow]

Probably, but without any cat involvement :sleep:

[epithermal]

frankly ide rather us get the spoils by funding NTL than a bank!!!

[whatsup]

I'm thinking about taking up the offer. What about you cats?

YEP IMHO a no brainer, we keep any spoils!!

[Blue Horseshoe]

I can't do simple maths percentage, so don't ask me.:D

[MAC]

It was intended as a comparison of prospective rights issues and the relative incentives offered for investors not necessarily a comparison of companies ......

NTL: A 50% dilution at a 38% price discount.
CRP: A 10% dilution at a 60% price discount

Though, CRP as I understand, are also actually dual listing at present in the UK, they also have a JORC resource, they also have a mining permit and are working on a consent, they are also presently expanding reserves, their resource was also substantially explored a few decades ago, and they also anticipate production within a couple of years.

Actually, it all sounds really not too different at all now that you have pointed it out aside from relative fundamental valuations.

;)

[MAC]

I'm thinking about taking up the offer. What about you cats?

I think it looks ok on balance having kicked the can around, I'm still cautious that the risk/reward position is not as good for NTL as I would like it to be for a start-up miner at this stage, but if you are an existing holder this rights offer looks fine at $0.008. I think the SP may appreciate a smudge in a few weeks on the de-risking too.

best wishes, Mac

[epithermal]

cant measure prospective rights issues without comparing company and projects.

[MAC]

Oddly it was your comparison of companies, although I noticed that you deleted your post, I wish you well with whatever investments you may wish to make epithermal.

I'll consider posting the relative valuations for you.

[epithermal]

Oddly it was your comparison of companies, although I noticed that you deleted your post, I wish you well with whatever investments you may wish to make epithermal.

I'll consider posting the relative valuations for you.

Yes as one cant compare simply a discount without looking at all facets of a company its projects. I think newcrest and rio tinto hardly discount at all does that make them on your measure a bad investment MAC :p

I deleted the irrelevant portion in answer to YOUR proposed comparisons.

.....on your own valuation premise .8 is well below your rudimentary gold valuation yet you also post that its not a good deal for SH.

Which is it?

[epithermal]

Looks like the sp has held together well boys. Seems the Nz market likes the discount MAC.

Moosie is going to get two superyatchs and major a larger grander cave full of tuis now after entitlement gets NTL producing with the funds!!!

And to top it off looks like the cobalt company is moving along with a major project.

[epithermal]

I'll have an enjoining cave to Miners with all the man cave essentials please. The Dodge Viper will be the coup de grace :)

You must be nearing top 20 soon. Directorship coming moose??

[Hawkeye]

Looks to be an article on NBR online about this company, sub ran out so cant read it

[Minerbarejet]

When does the rights issue get listed on the ASX? Its trading here as NTLRB but I cant find it on asx yet.
Cheers

[blackcap]

When does the rights issue get listed on the ASX? Its trading here as NTLRB but I cant find it on asx yet.
Cheers

Its under code "NTLR"
Cheers

[Minerbarejet]

Thanks for that.

[psychic]

Yes, for every two shares we will have the right to purchase one more at 0.8c (same price for holdings on the asx and nzx). It is better value if you hold NTL.nzx. If your holding is on the asx, and you want to take up the rights, you could ask Computershare's Investor Services (e.g. Charmaine Bartlett in their AKL office) to first shunt across your head shares onto the nzx.

Trying to get my head around this Rights issue. On reading the offer doc it would seem you simply choose which currency to settle in so perhaps this does not disadvantage Aussies holders afterall?

But I'm puzzled about how trading of the rights commenced May 7 when the record date for determining entitlements is 7pm tonight 9th May?
How are people selling rights that have yet to be allocated?

[Bobcat.]

There's not much support for this rights issue, is there? NTLRB are now on offer at 0.1c.

Last month the head share was trading at 1.5c. Have company fundamentals worsened? No - in fact, IMO they have improved. That Chinese proposal if accepted would've sucked profits out of the operation to the detriment of shareholders.

Come on folks - invest in this local gem. It's not a lot of gold but it's ours - let's fund what's required to get it out of the ground.

Discl: holding a few with every intention to take up my right to purchase half as many again @ the very good price of 0.8c.

[robbo24]

I'll be taking up my full allocation...

[Paint it Black]

Wonder if Mr Drury is keen to divest some of his massive paper profits and to buy up NTL? Golden chairs for all XRO workers instead of the current $15K sign up bonus?
So the rights did not sell at all so does this mean the head share price returns back towards where it was pre the rights issue? Depends on how many shareholders exercise their rights I guess but the lack of interest suggests we will not have a great number of additional shares issued and the 0.8c is very cheap come next Tuesday. The gold is still there and I'll be looking taking up a good proportion of my allocation if only to help get the show on the road.

[blackcap]

If there is no further dilution then the rights lapsing has a price-neutral effect as it was an unknown as to whether any would be taken up and wasn't priced in to the SP. Seems a bit ridiculous if we can't get this small amount of capital for a company that's going to be cashflow positive in less than 12 months. However, as I have said before, gold is still a very hated commodity and it is testing serious support right now. There is a real risk here that PoG could collapse quite dramatically if $1180 USD falls through...
..... rendering NTL worthless :)

[Chippie]

Sorry to be lazy, but....
is the 28,800 Oz of gold in the offer document the total reserves for the mine? Any written information available on possible upside?

[Bobcat.]

As the downside to growing debt, printing money and thereby devaluing fiat currencies becomes more obvious, precious metals will grow more popular. Sub $1000USD/oz for Gold? You have to be joking, Moosie. More likely, by October we'll see the PoG over $1400USD. I'll be applying for, and buying, my new shares @ 0.8c later this week. There's future wealth for NTL shareholders in digging out of the ground what belongs to us.

So the rights trading never kicked into life. So what? Take up your right to invest more into this venture, our company, at a good price.

[digger]

I have taken up all my rights and applied for 50% more. Application has been sent in.
Gold is very interesting but I feel gold will win out in the end. It has just been around thousands of years longer than these fait currencies and now printed money. Also like the idea that the mine is already there and for me just down the road. If these guys can not make it it will be hard to see how any gold mine can be profitable. The current flood of new shares will depress the market for awhile but if things get going anything like the 9 months shown in the prospective to profitably then the future will be rosy.

[Bobcat.]

There's no point trying to fight the trend as you will just end up poor and angry! Accept it for what it is and go with it. :)

Not angry Moosie, just unconvinced by JP Morgan and others talking down the price of Gold given the huge debts and sorry state of the USA and many other nations' finances. We are in unchartered territory and it will take very little to trigger uncertainty and then fear, which yes, is good for the Price of Gold.

I agree that key supports have been broken but don't be surprised if you see a rally tonight (Thursday). Last night's drop was only $5.

Re NTL, I'd much prefer to buy now whilst market sentiment is low and this stock is out of favour, than later when it's appealing to many.

BC

[epithermal]

Interesting discussion.

For pog falling below 1200 to render ntl valueless BC is ridiculous.

Read the offer document. It all comes down to the margin between the cost of production and gold price.

From memory ntl has one of the lowest cash costs out there due to such high grades.

[Bobcat.]

For pog falling below 1200 to render ntl valueless BC is ridiculous.



Those aren't my words, E.

BC

[epithermal]

Those aren't my words, E.

BC

bcap not bobcat. :)

[blackcap]

bcap not bobcat. :)
Guilty as charged :). My comment was a bit off the cuff, but not much more than worthless is my humble estimation if gold continues to decline.

[Dej]

Hi All,

Back after a extended revamp of everything! Got a lot to concentrate on at the moment other than my investments.

Good to see moosie is still about after my 3 months (ish) absence! people come an go on this forum without any indication!

Good to see some people still holding NTL.

[Dej]

They couldn't get rid of me if they tried (and yes "they" have before!). ;)

The forums would be empty without you!

Just as an indicator to get the ball back rolling for me, how many of you took up your rights? Or bought more on market?

This looks like it could go one of two ways, either we secure enough funding to start or we are still dead in the water without enough capital.

[Bobcat.]

I'm taking up all my rights as well as subscribing for a few extra shares. The grades are good and I'm happy with the price.

BC

[Bobcat.]

I'm less concerned about the price of Gold remaining below $1200USD than I am about NTL's rights issue being a flop. There was virtually zero market interest in buying the rights on either the nzx or asx...and that's not a good sign.

BC

[blackcap]

I'm less concerned about the price of Gold remaining below $1200USD than I am about NTL's rights issue being a flop. There was virtually zero market interest in buying the rights on either the nzx or asx...and that's not a good sign.

BC

If they were so worried about no one taking up the rights they should have offered them at a discount to market price... not at it.

[Bobcat.]

If they were so worried about no one taking up the rights they should have offered them at a discount to market price... not at it.

I think you'll find they did, but then the market price quickly dropped.

Pre-Chinese Deal flop and CR announcement: 1.5c
Soon after CR announcement: 0.8c

With dilution considered, I would've expected it to drop no further than to around 1cps. But it is what it is, and I suspect that the extension to Friday 6th has less to do with Queens Birthday weekend and more to do with the Directors hoping that the extra few days will bring in more capital.

[blackcap]

I think you'll find they did, but then the market price quickly dropped.

Pre-Chinese Deal flop and CR announcement: 1.5c
Soon after CR announcement: 0.8c

With dilution considered, I would've expected it to drop no further than to around 1cps. But it is what it is, and I suspect that the extension to Friday 6th has less to do with Queens Birthday weekend and more to do with the Directors hoping that the extra few days will bring in more capital.

Cheers Bobcat, must have missed that. I thought price at the announcement was around the .8-1.0 mark. Yeah then it is a bit of a concern. POG not helping them mind.

[epithermal]

Twas higher. SPP price always acts as a share price target. 0.8 was always going to happen post that announcement...

Absolutely agree moosie as you have said multiple times. Any issue is a red flag for sp to head towards. They stated % discount in announcement.

Saw an interesting read on NTL http://www.proactiveinvestors.com.hk/stock_news/8239-new-talisman-gold-mines-to-fast-track-production-in-new-zealand.html

[epithermal]

Cheers Bobcat, must have missed that. I thought price at the announcement was around the .8-1.0 mark. Yeah then it is a bit of a concern. POG not helping them mind.

They are currently up 10% to .9.

That appears very positive and shows pog not making any difference to NTL.

Blackcap out of interest just given your constantly down ramping are you an original heritage holder?
Can understand being bitter and twisted but NTL appear to be doing well.

[blackcap]

They are currently up 10% to .9.

That appears very positive and shows pog not making any difference to NTL.

Blackcap out of interest just given your constantly down ramping are you an original heritage holder?
Can understand being bitter and twisted but NTL appear to be doing well.

Hi Epithermal, I am not down ramping if that is how it appears. I have had some shares in Heritage a long time ago and got out around the 5 cent mark. Call me an old cynic but when has this company "ever" delivered? So no not bitter and twisted just skeptical. As I have said before on this thread if memory serves, I hope they do well for current holders... just do not see it happening myself.
But saying that this stock is "up 10%" to .9 is meaningless. The bid offer/spread in itself is 10% and the volume of shares traded minimal.

[epithermal]

Your an old cynic so it's all meaningless to the thread.

Seems you only jump on this thread to drop in negative comments on a stock you once held which appears pretty downrampy to me.

[robbo24]

Absolutely agree moosie as you have said multiple times. Any issue is a red flag for sp to head towards. They stated % discount in announcement.

Saw an interesting read on NTL http://www.proactiveinvestors.com.hk/stock_news/8239-new-talisman-gold-mines-to-fast-track-production-in-new-zealand.html

Thanks for the link.

Have my rights issue shares been issued yet?

[jonu]

The rights shares have been allocated and are tradeable, but they haven't notified what they are doing with the extra applications yet. I applied for 500k more on top of my rights.From memory about the middle of the month they were to allocate the extras (if any).

[Bobcat.]

Allotment and issue of new shares is scheduled for this Friday. Somebody bought a bundle up to 1.1c on the nzx this morning which was a bit odd. They could've purchased them on the asx for 0.8c.

[robbo24]

Allotment and issue of new shares is scheduled for this Friday. Somebody bought a bundle up to 1.1c on the nzx this morning which was a bit odd. They could've purchased them on the asx for 0.8c.

Probably just moosie_900 doing a line buy.

Classic North American trader behaviour.

[Hawkeye]

https://www.nzx.com/companies/NTL/announcements/251517

[Bobcat.]

$638k raised. I'm hoping that's enough to get production underway 4th quarter as planned.

I applied for more than my entitlement, and trusting those with enough gumption to take a calculated risk with this local miner have done the same.

Seasonal demand lifts the price of gold July through September. I'm picking that within 2 months many people are going to be kicking themselves they haven't bought these at 0.8c.

[Paint it Black]

$638k raised. I'm hoping that's enough to get production underway 4th quarter as planned.

I applied for more than my entitlement, and trusting those with enough gumption to take a calculated risk with this local miner have done the same.

Seasonal demand lifts the price of gold July through September. I'm picking that within 2 months many people are going to be kicking themselves they haven't bought these at 0.8c.

Great news that the core NZ shareholders put their money down to help get the show on the road. Let's hope this time next year there will be a huge Export Gold celebration with production underway.

[Bobcat.]

It does look very tight. Have you contacted the company secretary on this, yankiwi?

I just have, and will post their reply (assuming I get one).

[robbo24]

Must... Not... Photoshop...

http://www.watchdog.org.nz/uncategorized/karangahake-tells-new-talisman-dont-mine-our-mountain/

[robbo24]

Is anyone else worried?

MP51326, NTL "Talisman" permit, was granted on 03-Dec-2009

I'm not worried. It runs for 25 years from the commencement date of 3 December 2009.

The other stuff you refer to? Well, it's not the end of the world, is it?

Clause 4 of the full documentation only requires NTL to "make all reasonable attempts to undertake the word programme in accordance with the permit." - http://www.nzpam.govt.nz/services-drm-web/RetrieveDocumentServlet.svt?documentId=ED6FBB70161 6DB4147A4748B3C153039&p_access_no=

Could be up for debate, but I'm sure so much as bending over and picking up a rock is mining as far as the placard wavers are concerned. From that perspective, mining has begun.

[Bobcat.]

Here's NTL's reply...

(I've written back asking them to inform the market of its drilling schedule.):

"We are aware of our permit conditions as are publicly available to you our shareholders.

We are unable to provide you any information as any information must be provided to all shareholders not individual shareholders seeking information.

Thank you for your support.

Kind regards


Matthew G Hill
Executive Director
New Talisman Gold Mines


It does look very tight. Have you contacted the company secretary on this, yankiwi?

I just have, and will post their reply (assuming I get one).

[Landyman]

Really dumb question, humble apologies, but my DB (now the ugly blue ANZ) shows me with a TRADABLE_RIGHTS_CONVERSION on 3 June 14, seems I got 1 share for every 2 held - I cant see any "news" that shares were issued on the day. I have been a long term holder, so may be just getting rewarded for being loyal?

Can anyone advise?

[robbo24]

Really dumb question, humble apologies, but my DB (now the ugly blue ANZ) shows me with a TRADABLE_RIGHTS_CONVERSION on 3 June 14, seems I got 1 share for every 2 held - I cant see any "news" that shares were issued on the day. I have been a long term holder, so may be just getting rewarded for being loyal?

Can anyone advise?

The ship has sailed for your tradeable rights...

[digger]

Really dumb question, humble apologies, but my DB (now the ugly blue ANZ) shows me with a TRADABLE_RIGHTS_CONVERSION on 3 June 14, seems I got 1 share for every 2 held - I cant see any "news" that shares were issued on the day. I have been a long term holder, so may be just getting rewarded for being loyal?

Can anyone advise?

I had to read your question several times to see what you were getting at. Then the hard part was to think what you were thinking to try to see what you were seeing.
It seems you believed that you were getting one new share for every 2 shares you held. This is completely wrong. What you got was the right to buy one new share at .8 of one cent for every two shares you held.
But as robbo24 says that is now in the past and the ship has sailed on that one.


By the way most did not take up this offer to buy one new share for every two held so you are probably not much worse off that most holders. Maybe in time you will be better off if the company does not get production underway.

[Landyman]

That is the strange thing - for varying reasons I couldnt participate in the issue, however my account now says I own 50% more share than i used to and that it was free, hence my average price has dropped. This was not something I enacted through my account, so some other entity has changed it (maybe ANZ have just stuffed up). ie I used to own 1,000 shares at 5c each, now I own 1,500, at 3.33c (made up numbers, I hold a few more than that).

[silverblizzard888]

That is the strange thing - for varying reasons I couldnt participate in the issue, however my account now says I own 50% more share than i used to and that it was free, hence my average price has dropped. This was not something I enacted through my account, so some other entity has changed it (maybe ANZ have just stuffed up). ie I used to own 1,000 shares at 5c each, now I own 1,500, at 3.33c (made up numbers, I hold a few more than that).

That also happened to me, I don't exactly remember how much I originally had, but the average cost price has been lowered quite a bit and I did nothing to it, it just changed by itself which kind of makes it confusing. If anyone knows why this is the case please do tell.

[Bobcat.]

Go into 'movements' next to the portfolio entry for NTL. Then either:
1. If you never took up the rights, delete the entry corresponding to the new issue, or else
2. Update the price you paid - 0.8c - and check the volume.

[Landyman]

Thanks Bobcat - will do. Im more interested in how the change came about in the first place, I'd hate to sell what I dont have.

[blackcap]

Thanks Bobcat - will do. Im more interested in how the change came about in the first place, I'd hate to sell what I dont have.

I believe ANZ securities take up rights in your portfolio automatically. My dad thought he had a lot more ATM shares for this very reason and sold a few more than he should have. I checked later and called ANZ and they confirmed that rights issues in their portfolio system show up as if you had taken up the rights. Hope this helps. Caveat emptor.... always check with the registry who are the final arbiter of how many shares your own.

[Landyman]

All good information, thanks all - pleased to see we still live in an imperfect world where assumptions are the mother of all evil.

[digger]

I had to read your question several times to see what you were getting at. Then the hard part was to think what you were thinking to try to see what you were seeing.
It seems you believed that you were getting one new share for every 2 shares you held. This is completely wrong. What you got was the right to buy one new share at .8 of one cent for every two shares you held.
But as robbo24 says that is now in the past and the ship has sailed on that one.


By the way most did not take up this offer to buy one new share for every two held so you are probably not much worse off that most holders. Maybe in time you will be better off if the company does not get production underway.

Looks like I did not understand the question. I bought all my rights and an extra 50% so maybe I will find that in the same crazy mixed up situation that the records show that my total has fallen.
Let us know how it ends up.

[Dej]

All good information, thanks all - pleased to see we still live in an imperfect world where assumptions are the mother of all evil.

Same happened to me! Thanks for the help team

[Hawkeye]

https://www.nzx.com/companies/NTL/announcements/252141

[Minerbarejet]

Is that a light at the end of the tunnel
or the 2.15 karangahake express loaded with gold ore:)

[milt1968]

Report not looking terrible. May look into a small parcel

[Landyman]

MEETING: NTL: AGM and Closing Date Director Nominations

Moosie for President!

[Hawkeye]

I was just thinking about these bad boys,
https://www.nzx.com/companies/NTL/announcements/253341
https://www.nzx.com/companies/NTL/announcements/253342

[jonu]

NTA figure to 1.5c now, 700%, yes 700% increase. Book keeping I know, but looks a lot more impressive than the 0.13 showing previously. Looks like we are ready to rock and roll although another glitch of sorts on the financing/convertible note.

[robbo24]

NTA figure to 1.5c now, 700%, yes 700% increase. Book keeping I know, but looks a lot more impressive than the 0.13 showing previously. Looks like we are ready to rock and roll although another glitch of sorts on the financing/convertible note.

Who needs those stinking bankers and their blood money, SPP all day!!

[hilskin]

Permission to enter has been granted

http://www.asx.com.au/asxpdf/20140808/pdf/42rc7q8g4vwvlz.pdf

[jonu]

Permission to enter has been granted

http://www.asx.com.au/asxpdf/20140808/pdf/42rc7q8g4vwvlz.pdf

You would hope this is the start of the uptrend in the sp. Sure as hell wouldn't be looking to sell at 1.1 like the 7 who are on the NZX.

[blackcap]

You can still get them in Australia for .9 or an Australian cent or roughly 1 cent Kiwi. Not many but some there.

[bucko]

they are still waiting for planning permission to upgrade the access roads though arent they? im holding off till then, then hopefully its going to start raining golden nuggets of joy :)

[Landyman]

Time for me to buy!

[Minerbarejet]

Maybe things will liven up a bit,- been pretty hohum for months.
Hope the Greens dont get in and can it just as it starts up. Aaaaaaaaargh
That would be a tad frustrating.
Disc: Still holding, bottom drawer left hand side.:)

[jonu]

Could/should be an interesting few weeks. Very few on offer in Oz now. Market behaviour always continues to amaze. A further upwards movement will probably attract the bandwagon jumpers, when they should be jumping now!

[Bobcat.]

Yes, even fewer on offer now on the .asx after today's buying - only 25k left showing under 1.6c.

The ducks are lining up but are NTL running out of time to start mining? Still roads and more cash required, and yet their work permit obliges them to start operations by November.

Discl: holding (enuf)

[jonu]

Leaky ship today? One large purchase. Need Oz to follow suit now.

[Minerbarejet]

Miner regrets to inform that he has over a period of time been unable to arrange a mine visit. From this point its probably only going to get in the way of production so we will have to leave it there. The last answer I got back was " soon" and I have heard nothing since.
Looks like we should be getting out the picks and shovels:)

[digger]

[QUOTE=Minerbarejet;500094]Miner regrets to inform that he has over a period of time been unable to arrange a mine visit. From this point its probably only going to get in the way of production so we will have to leave it there. The last answer I got back was " soon" and I have heard nothing since.
Looks like we should be getting out the picks and shovels:)[/QUOT

Hello Minerbarejet.
A visit would have been nice but thanks for your effort anyways. Cheers

[psychic]

:)
Rahu Resource Declared and Application Lodged

https://www.nzx.com/companies/NTL/announcements/254401

An independent report filed with the application declares an inferred and indicated resource of 2,394,573 tonnes at 0.54g/t gold for 41,591oz gold using a cutoff grade of 0.3g/t and 258,419oz Ag. This has been based around the extensive work conducted by NTL over the period it has held the Rahu exploration permit. The Company has applied for the EOL as a contiguous piece of land to the Talisman MP. This required successfully obtaining consent to overlap a small piece of land held by another mining company.

[Dej]

In the back draw as ever, but still holding. Fingers crossed, need to get on with it though!

[Minerbarejet]

:)
Rahu Resource Declared and Application Lodged

https://www.nzx.com/companies/NTL/announcements/254401

An independent report filed with the application declares an inferred and indicated resource of 2,394,573 tonnes at 0.54g/t gold for 41,591oz gold using a cutoff grade of 0.3g/t and 258,419oz Ag. This has been based around the extensive work conducted by NTL over the period it has held the Rahu exploration permit. The Company has applied for the EOL as a contiguous piece of land to the Talisman MP. This required successfully obtaining consent to overlap a small piece of land held by another mining company.
This is excellent news.:)

[jonu]

Yes, It's been an awwwfully long time coming but assuming this is approved, it adds 25% to the resource "to just under 250,000 oz of gold." Excellent news indeed!

[Minerbarejet]

Yes, It's been an awwwfully long time coming but assuming this is approved, it adds 25% to the resource "to just under 250,000 oz of gold." Excellent news indeed!
Now if we could just get 25% added to the share price for starters would be even better. Dont think this sank in at all with Mr Market.
Treated it with complete ignore or perhaps obliviousness more likely.
I'm chuffed there seems to be a connection. Looks like the Ohinemuri carved a canyon right through the middle of the field.

[Minerbarejet]

This in from Proactive. A few bits extra to the announcement re Rahu
New Talisman Gold Mines increases total gold resources by 25%Tuesday, August 26, 2014 by Proactive Investors (http://www.proactiveinvestors.com.au/pages/the_team)

http://www.proactiveinvestors.com.au/genera//img/companies/news/mining_358x266_53fc109614cfa.jpgNew Talisman Gold Mines increases total gold resources by 25%

New Talisman Gold Mines (http://www.proactiveinvestors.com.au/companies/overview/2560/New+Talisman+Gold+Mines) (ASX:NTL (http://www.proactiveinvestors.com/companies/overview/2560/new-talisman-gold-mines-2560.html)) has filed an application to include the Rahu exploration permit into the Talisman Mining (http://www.proactiveinvestors.com.au/companies/overview/1193/Talisman+Mining) permit after declaring a Resource over Rahu.

Rahu has an Inferred and Indicated Resource of almost 2.4 million tonnes at 0.54 grams per tonne, or 41,591 ounces of contained gold, increasing the company’s total Resource by 25% to just under 250,000 ounces.

This is part of its strategy to ensure the future growth and expansion of the Talisman Project.

Talisman is located on the Coromandel Peninsula and had previously produced 1 million ounces of gold and 3 million ounces of silver.

“Whilst continuing to complete steps toward the Talisman Mine, the technical team have completed a significant body of work to make an application on Rahu and have met the criteria set out in the minerals program,” chief executive officer Matthew Hill said.

“It has always been our view that Rahu is an extension of the Talisman Vein systems and would become part of the longer term future of the sustainable mining development at the Talisman mine.

“The Rahu deposit has increased the Talisman Groups total resources by approximately 25% to just under 250,000 ounces of gold.”

Rahu Resource

New Talisman has completed about 2,492 metres of drilling at Rahu, which together with previous drilling campaigns and geological investigations, provides evidence its mineralisation and alteration present represents the upper levels of and northern extension of the Talisman epithermal gold system.

Most of the drilling has intersected broad zones of low-medium grade gold and silver mineralisation with narrower higher grade intervals.

This is characteristic of the upper parts of an epithermal system.

Highly mineralised quartz vein fragments (up to 7.6g/t Au) in hydrothermal breccia zones present within drill core attest to the presence of deeper higher-grade quartz veining that is characteristic of the veins mined within the Talisman Mine.

It also provides further evidence that Rahu is an extension of Talisman. The EOL to include Rahu in the Talisman MP will allow for a natural extension of mining operations from the Talisman.

Rahu has an Indicated Resource of 277,669 tonnes at 0.6g/t gold and 8.79g/t silver and an Inferred Resource of 2,116,904 tonnes at 0.53g/t gold and 2.64g/t silver.

Talisman Gold Mine

New Talisman was earlier this month authorised to enter and operate the Talisman gold mine permit on the Coromandel Peninsula.

A work program is currently underway to exploit target areas, including Rahu, while discussions are progressing with a major gold producer regarding the potential for a joint venture arrangement on exploration targets at Rahu.

The company is also working closely with the New Zealand Department of Conservation to finalise the regulatory aspects of its trial mining project plan.

Talisman previously produced 1 million ounces of gold, 3 million ounces of silver, and has a current JORC Resource of 205,000 ounces of gold from two separate mines, Talisman and Crown.

The Talisman permit area has the potential to host between 0.55 million to 2 million ounces of gold and between 1.5 million to 6 million ounces of silver.

The vein systems within the two mines extended over a strike length of 1,000 metres and depth of 700 metres.

Both historic mine areas are now held under a single 25 year permit to mine.

A Pre-Feasibility Study completed in 2013 confirmed an initial Phase One life of mine of 5 years to generate NZ$68.2 million in revenues for a cash surplus of NZ$23.4 million.

Start-up capital was estimated at NZ$5.4 million.

Analysis

While the Talisman Gold Mine already offers compelling economics, the addition of an additional 41,591 ounces of contained gold from the Rahu to the existing 205,000 ounces is value accretive.

This could also draw the major gold producer that it is already in discussions to sign a joint venture exploration deal.

The next steps for NTL will be the lodgement of a health and safety management plan by the end of August. Ore stockpiles will be readied for treatment once the company has finalised toll treatment arrangements. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

[jonu]

Thanks Miner. Any thoughts on who the major gold producer is?-Newmont?

[Minerbarejet]

Thanks Miner. Any thoughts on who the major gold producer is?-Newmont?
No idea, - yet, jonu.
Someone is interested this morning, 4 mil bid:)
Maybe its Newmont, :)

[jonu]

Some back of the napkin calcs here. Current market cap 6.5 million NZD. Approx 250,000 oz Gold resource. From memory mining costs of $600 oz. Let's say $800 to cover any extra expense at Rahu. Current POG $1280 USD. I make that better than $650 nzd an oz profit. Multiply by 250,000 oz = 1.62 billion PROFIT.

Am I horribly wrong here?

[cyclist]

Some back of the napkin calcs here. Current market cap 6.5 million NZD. Approx 250,000 oz Gold resource. From memory mining costs of $600 oz. Let's say $800 to cover any extra expense at Rahu. Current POG $1280 USD. I make that better than $650 nzd an oz profit. Multiply by 250,000 oz = 1.62 billion PROFIT.

Am I horribly wrong here?

Only by a factor of 10. :eek2: (Using your numbers, comes out to $162M). As for the underlying assumptions, I'll leave that to those who know this stock better.

[jonu]

Cheers cyclist. My calculator didn't have enough digit spaces. Apologies for error to all readers. Still, at 162 million profit she still looks awfully cheap at 6.5 million market cap.

[Minerbarejet]

Cheers cyclist. My calculator didn't have enough digit spaces. Apologies for error to all readers. Still, at 162 million profit she still looks awfully cheap at 6.5 million market cap.
You could say that, but dont worry you will be able to get a better n bigger calculator with the profits (assuming you have a holding):)

[R3V3R3NT]

The volume of NTL shares traded has picked up significantly of late.

[Minerbarejet]

The volume of NTL shares traded has picked up significantly of late.
Sorry, someone should have welcomed you to this thread by now. It has picked up quite a bit but the price hasnt done much- usually takes a couple of days for things to sink in over in Oz so we may still see some interest from the Rahu announcement. We are all hanging in there.
Cheers and welcome:)

[Toasty]

Welcome R3V3R3NT. That's hard to type.

I was bought here many moons ago after a wild moose appeared to me in a dream and suggested that I didn't have any gold in my portfolio. I have been in the wilderness for some time now without seeing any gold and the acronym DYOR ringing in my mind.

Disc: Wasn't really Moosies fault but I always believe the last opinion I read and his was in front of me at the time.

[Dej]

Hi all, and welcome new users,

I have held this stock now for a long time, and have seen no real returns apart really. I think a lot of other long term holders are in the same position and would like to see this ball rolling. As for the gold producer, I would say it is Newmont. Wouldnt want to have to ship our ore to a far off producer if we dont have to, and Newmont is very close to the Karagahapi Gorge and the mine, so that would be a safe bet.

I am looking forward for things to come, when people start writing about the company, such as ProActive, it is generally a good sign. Recently another one of my stocks just started to get covered by proactive and it brings a lot of interest, so this is a good sign. Hopefully we will see some real progress made soon, really we are waiting for one announcement that regarding maybe a JV with a gold producer or the like. That day will change this stock. But it also may never come. Who knows, we all know the risks involved in a small startup mining company, and if you dont you probably shouldnt be here :eek2:

Dej

[R3V3R3NT]

Sorry, someone should have welcomed you to this thread by now. It has picked up quite a bit but the price hasnt done much- usually takes a couple of days for things to sink in over in Oz so we may still see some interest from the Rahu announcement. We are all hanging in there.
Cheers and welcome:)

Thanks! but I've been a lurker in the shadows for awhile :cool: As for the interested producer Newmont makes the most sense. However why would they bother with a JV? why not just buy out the whole of NTL?

[Toasty]

Sorry Toasty, this was always going to be a long-term undervalued asset play. As NTL said during the last SPP, this is probably the last chance to get it while undervalued. Just look at how much the Director (and Company Secretary!) own. ;)

Not your fault Moosie. I bought this in a fit of excitement at 2.5. The SPP actually saved me as I bought way more than my initial holding and now my average is within striking distance 1.4 cents. Its actually kind of cool owning a gold mine. I will be hanging in there for the long haul.

[psychic]

Bit confused about all this...

New Talisman Gold Mines Limited (New Talisman) intends to undertake an offer of up to 204,219,035 new listed shares (the Offer) from the shortfall from the pro rata 1 for 2 renounceable rights offer which closed on 6 June 2014.

https://www.nzx.com/companies/NTL/announcements/254587


and

For the purposes of Listing Rules 7.12.1 New Talisman Gold Mines Limited advises the following
Securities have been issued:
a Class of security Ordinary Shares
ISIN NZHERE0001S6
b Number issued 4,375,000
c Nominal value $35,000
d Payment terms Payable in cash


https://www.nzx.com/companies/NTL/announcements/254587

So, Geoff Hill gets to pick up $4.3m shares at .08 now that price has firmed from .08 (at time of rights issue) to 1.0 - 1.1 ? (after Rahu and 3 other price sensitive announcements)

https://www.nzx.com/files/attachments/199572.pdf

Do we all get this opportunity?

I am probably misunderstanding it, but need help here

[psychic]

'I found it.

The shortfall shares can be placed at the discretion of the Board no later than 3 months after the closing date of the offer which is 6 September 2014.

https://www.nzx.com/companies/NTL/announcements/251517

But it doesn't make me any happier...

Some dilution to come. Who else will the board favour?

[Bobcat.]

Bit confused about all this...

Do we all get this opportunity?

I am probably misunderstanding it, but need help here

I emailed Matthew Hill first thing this morning, enquiring as to who it is that gets offered these new shares and at what price...I'm still awaiting his reply.

[MAC]

I emailed Matthew Hill first thing this morning, enquiring as to who it is that gets offered these new shares and at what price...I'm still awaiting his reply.

Immediately after the only partly successful rights issue NTL advised that they would "seek 204,219,035 shares prior to 6th September 2014 $1.63M", hence today's announcement.

It will go to soph's probably at one, two or three cents below vwrap, but if it fully capitalises the venture all shareholders will benefit as the company can thus now move forward and get on with mining the glittery stuff.

It is a shame that we kiwi's put all our hard earned cash into real estate rather than companies like NTL, must be a total frustration for small start-up's like this, could though also be something to do with asking price too.

[moimoi]

And possibly due to the fact that this has been a sink hole for investor cash for close to 2 decades....

[jonu]

I don't much like the dilution either, but at least it is directors hoovering up shares and not unloading, albeit at a discount.

[robbo24]

And possibly due to the fact that this has been a sink hole for investor cash for close to 2 decades....

Who is going to the AGM at 11am on Wednesday 10 Sept? Lol.

Has it yet been discussed that at AGM it is up for vote to allow NTL to create even more shares in the next 12 months?

Relevant ASX rules require the price be no lower than 75% of the 15 trading day VWAP up to the placement date.

The purpose is bulk sampling preproduction etc...

Is this because the undersubbed shares will expire or just readying for another capital raising?

[digger]

Who is going to the AGM at 11am on Wednesday 10 Sept? Lol.

Has it yet been discussed that at AGM it is up for vote to allow NTL to create even more shares in the next 12 months?

Relevant ASX rules require the price be no lower than 75% of the 15 trading day VWAP up to the placement date.

The purpose is bulk sampling preproduction etc...

Is this because the undersubbed shares will expire or just readying for another capital raising?

I am going are you Robo24 ? Have much to discuss before any more money goes into this mine.
One of the things I want to sort out is security with the gold. How do you stop a worker taking off with a good chunk,or even a mamagement insider job.This sort of security the banks and accountants have to deal with all the time.
Look forward to the meeting but even more so to the after meeting. It brasses me off that too many people just go for the eat afterwards and we end up shorting the meeting for the eats. The nZO meeting in Auckland last week was bad for that. Just got things going and the pies were getting cold so apart for me and about two others the pies won over discussions.

[Dej]

6211

Hats off to the man selling at 8c, I like your optimism.

On a side note, looking pretty sparse out there.

[Hawkeye]

Interesting

https://www.nzx.com/companies/NTL/announcements/254973

[bucko]

From what i take from this announcement, this is going to be the final sampling where we will know to a high percentage of accuracy what are going to be the yields etc from this mine? accurately predict weekly production rates etc? Am i correct in assuming this?

[Landyman]

Crush it, process it, sell it - SP lift due soon(?!?!?)

[robbo24]

The market is waiting for some guidance on what's going to happen to the undersubscribed and potentially newly minted shares from the capital raising. I would argue that until that guidance is provided the shareprice isn't going to go far.

[Hawkeye]

What is the likely outcome for those shares?
Can it be cleared up on wednesday?

[Minerbarejet]

Hmmmmm, two days out from the AGM and up comes this. Well at least they have moved from a skip bin to a dump truck of sorts. Looks like a 3 tonner so about 4500 bucks in the load. 10 loads should pay for the truck?:)

[robbo24]

What is the likely outcome for those shares?
Can it be cleared up on wednesday?

My purely speculative guess is they will do a capital raising, open to all. The price can be as low as 75% of VWAP. The last one was at 0.8 cents. The ironic thing is that the overhanging capital raising prospect may keep the price down and reduce the potential price for the capital raising...

Once it's sorted I'm calling NTL as a buy. Even now, the fundamentals are beginning to change to a producer. Good times.

[Stumpynuts]

My purely speculative guess is they will do a capital raising, open to all. The price can be as low as 75% of VWAP. The last one was at 0.8 cents. The ironic thing is that the overhanging capital raising prospect may keep the price down and reduce the potential price for the capital raising...

Once it's sorted I'm calling NTL as a buy. Even now, the fundamentals are beginning to change to a producer. Good times.


The tipping point for NTL will come in due course that I'm certain of. Hopefully that tipping point is soon.

When I first started out sharetrading back in 2003/04 when I was 17-18 years old - HGD was one of the first companies I invested in. I didn't buy shares in HGD until around 2005/06 at around the 5-6c mark and have averaged down since.

When I first bought HGD shares I gave myself a realistic timeframe back then that I would need to wait at least 10-15 years for anything tangible to start taking affect. So far things seem to be plodding along quite nicely.

[robbo24]

Good to see the VWAP at 1.08 cents, the higher it is the more CPS on a potential capital raising ;)

[Minerbarejet]

Seems the noise level has gone up at Karangahake. Screaming and yelling about to start.

[Dej]

Seems the noise level has gone up at Karangahake. Screaming and yelling about to start.

How do you know this?!

[Minerbarejet]

How do you know this?!Opposition to gold mining in Karangahake GorgeShare (http://www.addthis.com/bookmark.php?v=250&pubid=trndigital)|


By: Georgia Nelson (http://www.newstalkzb.co.nz/Auckland/news/byline/Georgia-Nelson), New Zealand News (http://www.newstalkzb.co.nz/Auckland/news/nbnat/) | Tuesday September 9 2014 8:03



http://arntrnassets.mediaspanonline.com/radio/n00/1521619/Hahei-beach-Coromandel-Peninsula-generic-FILE-PHOTO.jpghttp://www.newstalkzb.co.nz/images/expandarrows.png
Coromandel (File Photo)




A Coromandel conservation group is launching a campaign to stop gold mining in the Karangahake Gorge.
The Department of Conservation has given the mining company New Talisman Gold Mines approval to take up to 600 tonnes of ore from the area each month.
Coromandel Watchdog spokesperson Ruby Powell says conservation and mining are complete opposites.
Her group is opposed to mining in the gorge.
She says they have started a social media campaign to put pressure on local candidates to step up and say what they're going to do to save the Karangahake Gorge



Shock as company gets go-ahead in the Karangahake GorgeTuesday, 9 September 2014, 2:23 pm
Press Release: Ruby Jane Powell (http://info.scoop.co.nz/Ruby_Jane_Powell)


Shock as company gets given go-ahead in the Karangahake Gorge
Extensive mining activity is due to start in the beautiful bush clad hills behind the iconic Karangahake Rail Trail.
New Talisman Gold Mines received an “Authority to Enter and Operate” from the Department of Conservation in August this year and - combined with their resource consent from Hauraki District Council - means it can begin its bulk sampling and trial mining program; mining around 600 tonnes of ore a month.
Hauraki District Council issued the resource consent without public notification and Karangahake resident Mark Beach, who has been watching the mining company trucking out material over the weeks past his front door and has found cracks appearing in the road has said he is angry locals were not officially consulted.
Iwi spokesperson Winn Brownlee of Ngāti Tamaterā said local iwi were strongly opposed to mining in Karangahake.
“Talisman Gold did come to see me and we objected to the mine, just as our forebears did. “They shouldn’t be touching anything close to our [river] as there is no guarantee that they're are not going to pollute our waterways,” she said.
“All our forests [and birdlife] should be coming back - it’s a place where everyone should be able to go to and is very significant to Ngati Tamatera.”
Coromandel Watchdog spokesperson Ruby Powell said the consents should not have been granted.
“This area suffered drastic pollution from mining historically and is now recovering and regenerating.





“Today the area has a sustainable economy developing from people coming to enjoy the natural environment with many DOC walks and the Hauraki Rail Trail winding through the Karangahake Gorge.
The Rail Trail was listed as one of the 14 wonders of New Zealand on the 100% Pure New Zealand website, she said.
“Both iwi and locals we have talked to are opposed to mining in the gorge and the Hauraki District Council and the Department of Conservation should never have given the New Talisman project the go-ahead.”
“We have had pledges of support from all over the globe of people wanting to support us, locals and iwi in our bid to save the gorge and we will use all peaceful means available to do so,” Said Powell.
A social media and mass emailing campaign has begun to ask the candidates standing for the Coromandel Electorate to take a stance on mining in the Karangahake Gorge, there is a protest planned for this coming Sunday 3pm and a public meeting is scheduled for Tuesday 16th September at 6pm in the Paeroa War Memorial Hall.
ENDS

[MAC]

Would be totally futile to try and make everyone happy, not even physically possible, some are just born to whinge and make it their life mission, though NTL are doing some good things for the local community are they not, must have missed those in the article ?

[psychic]

A social media and mass emailing campaign has begun to ask the candidates standing for the Coromandel Electorate to take a stance on mining in the Karangahake Gorge, there is a protest planned for this coming Sunday 3pm and a public meeting is scheduled for Tuesday 16th September at 6pm in the Paeroa War Memorial Hall.

Will you be attending the meeting Miner?....Say some nice things about gold perhaps..

[Minerbarejet]

A social media and mass emailing campaign has begun to ask the candidates standing for the Coromandel Electorate to take a stance on mining in the Karangahake Gorge, there is a protest planned for this coming Sunday 3pm and a public meeting is scheduled for Tuesday 16th September at 6pm in the Paeroa War Memorial Hall.

Will you be attending the meeting Miner?....Say some nice things about gold perhaps.. I think have sufficient safety gear to attend if I can find it. Now where is that blasted pith helmet, riot shield and long piece of rope.

[MAC]

It’s not often that investors go to these things, perhaps we should to provide some balance, how about;

“Gold is good, I mean really really good, we should all have some, and you should too”
- Mac

“Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold”
- Tolstoy

“All that is gold does not glitter, not all those who wander are lost, the old that is strong does not wither, deep roots are not reached by the frost” - Tolkien

That Tolkien has been good for NZ, was a bit of a hippie too, they’ll listen to him, just have to speak their language, you know.

[bucko]

Suprised labour hasnt already jumped on this for their campaign trail

so i loved the chairmans announcement of estimating over an ounce per tonne of the 70 they have recovered to date....over an ounce per tonne is amazing!

is anyone in attendance of the AGM?

[psychic]

It’s not often that investors go to these things, perhaps we should to provide some balance, how about;

“Gold is good, I mean really really good, we should all have some, and you should too”
- Mac

“Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold”
- Tolstoy

“All that is gold does not glitter, not all those who wander are lost, the old that is strong does not wither, deep roots are not reached by the frost” - Tolkien

That Tolkien has been good for NZ, was a bit of a hippie too, they’ll listen to him, just have to speak their language, you know.

lol, you're the man for the job MAC. Good luck.. :)

[psychic]

Suprised labour hasnt already jumped on this for their campaign trail

so i loved the chairmans announcement of estimating over an ounce per tonne of the 70 they have recovered to date....over an ounce per tonne is amazing!

is anyone in attendance of the AGM?

And ...several ounces of silver :)

And .. "I thought I would share with you one forecast from a reputable international research house Edison. They predict the price of gold may rise to US$1642 per oz in 2015 and US$2070 by 2020."

Who needs a cap raise

[Hawkeye]

Suprised labour hasnt already jumped on this for their campaign trail

so i loved the chairmans announcement of estimating over an ounce per tonne of the 70 they have recovered to date....over an ounce per tonne is amazing!

is anyone in attendance of the AGM?

Digger is going I think, possibly robbo24 too

[Minerbarejet]

And ...several ounces of silver :)

And .. "I thought I would share with you one forecast from a reputable international research house Edison. They predict the price of gold may rise to US$1642 per oz in 2015 and US$2070 by 2020."

Who needs a cap raise Well thats pretty well got the truck and digger paid for.:)
Just thought the news about the protesting might be brought up by someone attending the AGM
Anyone there and on line could let us all know whats going onwith that, maybe.
Cheers
Miner

[MAC]

Yes, we don’t have hippies here in the South, gold is all good, gave us things like Queenstown and Cromwell, Kingston and bungy jumping. Gold workings are lucrative wee things that the locals use to rob tourists of their loose change.

A few years ago I watched lake Dunstan fill, boy you should have heard the locals go mental over the old gold workings going underwater. Reckon we should send a bus load of Cromwellians up, that might sort em out.

A new slogan too may be required, how about;

NTL – “creating future tourism jobs even for hippies”

[bucko]

Yes, we don’t have hippies here in the South, gold is all good, gave us things like Queenstown and Cromwell, Kingston and bungy jumping. Gold workings are lucrative wee things that the locals use to rob tourists of their loose change.

A few years ago I watched lake Dunstan fill, boy you should have heard the locals go mental over the old gold workings going underwater. Reckon we should send a bus load of Cromwellians up, that might sort em out.

A new slogan too may be required, how about;

NTL – “creating future tourism jobs even for hippies”

Dont forget about the Iwi!

[Hawkeye]

Maybe NTL have waited strategically till this time of year to get busy mining, the greenies are too busy campaigning for vote Green, to notice the dumptruck go past their houses

[MAC]

Anyone else been to Sovereign Hill, near Ballarat, took my kids there a few years ago when younger, big asset to the area, quite a nice day out too, bigger than our Shantytown, way hot though on a nice day ?

[whatsup]

I was at the meeting today and I noticed that at the back of the meeting there was a Maori gentleman who took some notes.
I see that the in the Stuff news tonight that Iwi is going to protest against the granting of the mining permits in the Karangahake gorge, I wonder if the two are connected !!

[Minerbarejet]

I was at the meeting today and I noticed that at the back of the meeting there was a Maori gentleman who took some notes.
I see that the in the Stuff news tonight that Iwi is going to protest against the granting of the mining permits in the Karangahake gorge, I wonder if the two are connected !!
The stuff news on that was out before the meeting started. We await further developments.
Cheers
Miner

[digger]

[QUOTE=Hawkeye;503830]Digger is going I think, possibly robbo24 too[/QUOT

Well after a few wrong turns and a fight to get a parking space I got to the meeting about 5 mins before it started.
Met McKee, Matthew Hill ,Dr Prindle and the man on the job Wayne. Wayne is a gold miner from south Africa who I am pleased to say looks a lot more comfortable in the slides presented then in his work cloths. In a small start up company like this a practicle man on the job is a top priority.
The rock dug out of the pile will be somewhat sorted and then sent to Waihi where it will be processed by Newmont. This will require a few truck loads going back and forth through the gorge. The company has done the premits on this and from the roads board there seems to be no problem.
One of the things I liked about the operations is that the company intends to start small a learn the operations before getting bigger. I totally agree with this. Have seen people and companies fall over trying to take on too much toooo soon on pure theory. Walk before you run was the phrase used.
The company still needs more money to get through the next four or five months to production. After the meeting had a good talk with the directors on capital raising. The company has several offers from big investors who probably want an arm and a leg for their imput. I put it to them that they should have another cash issue before hand just to cover their legal butt. Matthew Hill as reported has just bought up 4.3 million from the last cash issue short fall. That cash issue date has now expired and no one can buy shares in it . In the event this takes off and the shares are much higher in the future he will face anger from holders that he had the last cheap up take even if what he did was legal. It is better to offer again to all shareholders one more go and to be sure that the little holders get the same final offer before it is given away in a placement or to directors. That I understand has been taken on board. About 25 at the meeting but I did not count so could be out a few. There will certainly be more in the future if this is successful.
What about holding the meeting in Paeroa and then the mine is just down the road.

Dr Prindle gave a talk on the cobalt mine our other investment. At this stage it is not my first concern---lets get on with the GOLD.

[hilskin]

Sorry if this has already been posted.

http://www.proactiveinvestors.com.au/companies/news/57473/new-talisman-gold-mines-ore-to-be-processed-at-newmonts-waihi-facility-57473.html

[Minerbarejet]

Thanks for the input Digger, much appreciated.
Might be a bit risky to have the meeting in Paeroa, protesters and all.:)

[elZorro]

Thanks Digger. This report in NZResources today.


12/9/2014 — Gold
NTL chairman reveals Newmont to undertake ore testing

The chairman of New Talisman Gold Mines Ltd (NZX & ASX: NTL), Murray McKee said that one of the latest milestones for re-developing the historic Talisman gold mine at Karangahake should be achieved by October 13.
This was completing all the documentation and procedures for the new High Hazards Unit now working with underground mining in New Zealand.
More recently New Talisman had gained resource consents from the Hauraki District together with an access agreement from the Department of Conservation.
McKee said that for trial testing of Talisman ore, about 50 tonnes was moved from the mine stockpiles you to a secured offsite storage facility as a prelude to preliminary metallurgical tests and for domination of the preferred process route for Talisman ore.
A further 20t of ore was also removed from site for testing, and he said yesterday the ore will be treated at Newmont Waihi Gold’s gold processing facility in Waihi, only a few kilometres from the mine.
McKee said based on work to date the indication is the indicated grade will exceed one ounce of gold per tonne gold and several ounces of silver.
He said the company balance sheet reflects the progress the company has made “on its journey from explorer to developer to producer.
“In 2013 the balance sheet reported net tangible assets of $1.384 million. In 2014 the comparable figure was $7.946 M,” he said.
On subsidiary Coromandel Gold Ltd, McKee said the objective had been to place this as a separate exploration asset going into another entity, and this has now been completed.
New Talisman has identified some key management for Coromandel Gold. There were now indications the market climate for exploration- which has been nearly cold for some time – may be starting to warm up.

[Dej]

On a side note, my news feed on Facebook is filled with young new zealanders upset about this mining activity. It feels like most people are thinking this mine is going to become Waihi as soon as they start mining.

Sigh.

[Stumpynuts]

On a side note, my news feed on Facebook is filled with young new zealanders upset about this mining activity. It feels like most people are thinking this mine is going to become Waihi as soon as they start mining.

Sigh.

You wouldn't be able upload screenshots of your newsfeed by any chance?

[MAC]

On a side note, my news feed on Facebook is filled with young new zealanders upset about this mining activity. It feels like most people are thinking this mine is going to become Waihi as soon as they start mining.

Sigh.

See, the problem is that you North islanders have a problem that the rest of us in New Zealand and Australia really don’t have to endure, an awful infestation of mung bean munching dope smoking dole bludging hippies.

But there is a solution, you really must construct a Shantytown or Sovereign hill feature park so that young hippi can learn about New Zealand culture, seeking ones fortune, moving earth to find precious things, learning all about useful things in life like how to make horse shoes, candles and wagon wheels, perhaps they’ll even become gold bugs, one can only hope.

Perhaps someday they will in turn make their kids watch ‘paint your wagon’ and ‘hunters gold' re-runs.

Clearly it all did me no harm as a youngster :)


http://www.youtube.com/watch?v=-rhYK_3jkgU#t=59

[Minerbarejet]

Some interesting selling quotes this morning. 9c?:)

[Dej]

You wouldn't be able upload screenshots of your newsfeed by any chance?

Sorry just Read this Stumpy, will try find the post this afternoon. May be unsuccessful given it was awhile ago now. Didnt cause much of a stir though so wasnt to concerned, it just seems my generation vote very differently to how I do. But that is for another thread im sure.

[BlackPeter]

Not really a stock I follow, but thought todays article in stuff might be interesting for whoever does. Sounds like the "neighbours" (or just rent a crowd - I don't know) are not to excited about the mining permit:

http://www.stuff.co.nz/national/10498341/Residents-dig-deep-to-oppose-mining-plan

[BFG]

Interesting that the locals think profits are going overseas.

Perhaps they should stop smokin the strong Coromandel puha and start reading a shareholders & directors list. :D

[bucko]

I love how there has been a lot more movement upwards in price due to their protesting, quite suprised how many people that were there after watching the video.

It does annoy me how people are so closed minded though, stating the money will go offshore. Also looking at the pictures of the area just through google, there isnt going to be much work to have the mine operational, so the effect on the environment or public access is minimal.

Also i dont understand how they can take offence about not being made aware of it and that it was sneakily pushed through, I've known about this from at least April 2013 and I live in Wellington not down the road!

[Minerbarejet]

If I was to rush outside and protest the use of a heavy vehicle on a public road as an ordinary NZer I would expect the imminent arrival of a white coated crisis team.:rolleyes:

[Stumpynuts]

Also i dont understand how they can take offence about not being made aware of it and that it was sneakily pushed through, I've known about this from at least April 2013 and I live in Wellington not down the road!


I feel the same way. There's been more than enough news articles in the business news sections on NZherald, stuff etc.

And the mining permit was granted back in 2009 subject to RMA compliance.
http://www.newtalismangoldmines.co.nz/wp-content/uploads/2011/06/041209-Granted-Mining-Permit.pdf

And local residents have actually been aware of it for quite some time now.
http://blog.greens.org.nz/2010/02/23/not-our-heritage-to-mine-karangahake/

Protestors having a whinge because they haven't been given any NTL shares I guess

[Flugenbear]

Totally agree BFG.
It's probable a lot of these protestors are uninformed and only thinking of themselves, despite statements to the contrary. This mine can and will have a positive econonmic effect for the local community without destroying the beautiful gorge.
It seems it could be more about a dump truck passing by someones property on a public road......
Maybe a bit more of that coromandel puha and it'll turn into a magic dragon....

[Minerbarejet]

Amazing isnt it, the lovely Karangahake gorge especially after 20 or 30 inches of rain in the catchment area bringing the water level to the dartboards in the Waikino pub and wiping parts of the little hamlet off the map, taking out bridges and causing widespread destruction. Would you know that if you looked at it now?That happened in the late 70s or early 80s, has happened before and will happen again.
And they are worried about a dump truck going down the road.
Outstanding.

[Dej]

The connotation as well is that the mine isn't underground - That basically the gorge is going to be completely annihilated and turned into something that looks like one of the big alaska strip mines - all by a mining company with under $1M in cash. Steady on.

[R3V3R3NT]

Plenty more NTL being traded pushing the price up. Is there any indication as to when the results for the processing of the 50 tonne batch of ore will be out?

[bucko]

If the TV show Gold Rush is anything to go buy they should have finished 70 tonnes by now! I'll say next week they would announce, I'm sure they will look to use this information to their advantage so they wouldn't release immediately, let us stew on it for a few days

[Landyman]

Where did the 9c+ sells go? It made the detail look very good- in a unbelievable way.

[Landyman]

Sue Sangster, gone?

[digger]

Sue Sangster, gone?

That was announced at the AGM but I forget to mention it. In fact I did ask jokely if it was a case of a rat leaving a sinking ship,and she quickly assured me it was not.

[Minerbarejet]

That was announced at the AGM but I forget to mention it. In fact I did ask jokely if it was a case of a rat leaving a sinking ship,and she quickly assured me it was not.
Bet that went down well, Digger.:lol:

[digger]

Bet that went down well, Digger.:lol:

Ever the stirrer. Good for the soul.
Looks like the protesters have bettered me with the stirring at least as far as the Sp goes. Their protest seem to have awaken the world to the fact that a mine is about to be born,or is it reborn ,or back from the dead.

[Minerbarejet]

Even a bit of a lift in Aus as well. Thanks very much:)

[Kees]

Even a bit of a lift in Aus as well. Thanks very much:)

Yeah love that 1k for every point gets the pot looking good keep it up next stop 1.5

[whatsup]

Sue Sangster, gone?

Sue has been a very capable and loyal ( besides being very attractive ) employee of the company over all the years that I have been a s h, she will be missed at future meetings, Go Sue Go !!

[Bobcat.]

Technical resistance at 1.4c is yet to be busted. 1.8c is then the next resistance.

I'm wary that NTL is running out of time to start operations. Its work permit expires in December. I would say that they will need to apply for an extension. Also, more capital to be raised may cap the price well short of 2c in the short to medium term.

Discl: have this week sold half of my holding at 1.4c, as I move funds into un-hedged gold diggers offering better POG leverage (this week's FOMC meeting may well provide the spark required for a spike in the price of gold).

BC