NTL - New Talisman Mine - New board & Directors

[tim23]

Say if you paid .07c add 1.5c (3 x .5) so 2.2c divided by 4 so .055c per share so rights should trade at not very much! about
Tradeable rights wonder what the price will be set at ?
Thanks to Robbo.
The rights issue announcement from yesterday.

3 rights for every 1 share. Rights exercisable at 0.5 cents each. I think they will be tradeable rights which means you can sell them on market (if they are tradeable there will be a separate code for this).

There will be announcements covering all the info in due course, it is a requirement of NZX/ASX rules.

[jonu]

Say if you paid .07c add 1.5c (3 x .5) so 2.2c divided by 4 so .055c per share so rights should trade at not very much! about

Except that only a small percentage of the company has traded at 0.7. Always hard to know and will come down to how many want to take up their entitlement. I personally will probably sell a few rights so that I can utilise the balance due to cashflow. But I won't give them away.

I thought the announcement was handled appallingly by the company. It should have been made clear from the outset that rights would be tradeable. They should also have made known some of the strategic thinking about going down this route.

That aside the future looks extremely rosy and I will be taking up all the rights I can afford.

[tim23]

Quite right but even at .08 the rights have a value of less than .01?
Except that only a small percentage of the company has traded at 0.7. Always hard to know and will come down to how many want to take up their entitlement. I personally will probably sell a few rights so that I can utilise the balance due to cashflow. But I won't give them away.

I thought the announcement was handled appallingly by the company. It should have been made clear from the outset that rights would be tradeable. They should also have made known some of the strategic thinking about going down this route.

That aside the future looks extremely rosy and I will be taking up all the rights I can afford.

[Kees]

0.1 I think you got that wrong but we will see soon enough.

[jonu]

Quite right but even at .08 the rights have a value of less than .01?

At the risk of repeating myself, that is based on the tiny percentage of the company that traded at those prices post the poorly managed announcement. The value of the rights as of now is the premium above 0.5 that you have to pay to get a slice. We are presuming Amer will snap up any shortfall.

Some may also sell their original shares to make the profit on the gap. Always very messy until its over as there are so many permutations.

[digger]

At the risk of repeating myself, that is based on the tiny percentage of the company that traded at those prices post the poorly managed announcement. The value of the rights as of now is the premium above 0.5 that you have to pay to get a slice. We are presuming Amer will snap up any shortfall.

Some may also sell their original shares to make the profit on the gap. Always very messy until its over as there are so many permutations.

Some good comments on what the rights will trade for.
My thinking is very much dependent on what the company is up to with other unknown parties,including Amer.Note here we know nothing but have this very large cash issue anyways. So if the company had said that any short fall could only be taken up by existing shareholder as apportion of there current holding,then we would have known that Amer or any other outsider could not just sit back and let them all fall so that they could alterwards scoop them up at .005 cents a share. But we are completely in the dark here so can only speculate on various out comes. It all comes down to if or what unknown deal has been struck.
So in my first scenario where existing shareholders are put first [small likely hood] meaning that outsiders have to buy the rights then I would say they will sell at point one of a cent-----.001
if there is some under the table agreement that they will go after the cash issue is finalized to some already agreed party then the rights are will sell for between .0005 to .000000000000000nil

[Landyman]

Whilst IM going to scratch around for any money to take up my rights, what about the big boy shareholders

Shares Top 20 holders, 648,981,217 shares on issue
Rank Name Units % of Units 3 for 1 rights Cost $0.005
1 HAMISH EDWARD ELLIOT BROWN 75,000,000 11.56 225,000,000 $1,125,000
2 HFT NOMINEES LTD 32,154,117 4.95 96,462,351 $482,312
3 SO CO LIMITED 28,096,507 4.33 84,289,521 $421,448
4 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 15,357,491 2.37 46,072,473 $230,362
5 INTERNATIONAL PACIFIC SECURITIES LIMITED 14,356,000 2.21 43,068,000 $215,340
6 NIMPOD PTY LIMITED 11,318,027 1.74 33,954,081 $169,770
7 PETER ROBERT ATKINSON 10,901,950 1.68 32,705,850 $163,529


Grrr, I cant get it into a table

Wonder if Hamish Brown, has $1.1m to stump up with?

[Landyman]

Did I read the offer correctly? Rights are trade-able for 3 days only?

[Kees]

ANZ or direct not even showing the rights yet on the ax so if only 3 days there is one day gone were no trading can be done at any price.

[chippy52]

You got that bit wrong. They trade until 6/6 on asx & 8/6 nz

[youngatheart]

Wrong.
------------------------------------------------------------------------------------------------------------------------------
Offer timetable
Rights trading commences ASX: 23 May 2016
Rights trading commences NZX Main Board: 23 May 2016
Record Date for determining Entitlements: 7.00pm (NZ time), 24th May 2016
Opening Date 25 May 2016
Expected dispatch of document enclosing the Entitlement andAcceptance Forms25 May 2016
Rights trading ends: ASX 7.00pm (NZ time) and5.00pm (AEST), 6th June 2016
Rights trading ends NZX Main Board: 5:00pm (NZ time) and 3:00pm (AEST), 8thJune 2016
-------------------------------------------------------------------------------------------------------------------------------

So 12 business days (because of Queens Birthday Weekend & including today) on the NZX.

[Kees]

Anybody know why the AX rights ain't showing on the ANZ broking site ?

[GR8DAY]

Anybody know why the AX rights ain't showing on the ANZ broking site ?

.........code for oz is NTLRB (was incorrectly stated)

[Kees]

.........code for oz is NTLRB (was incorrectly stated) but

yes i know but it still does not show o the NZ ANZ broking site or (direct broking)
so holding does not show,

[jonu]

but

yes i know but it still does not show o the NZ ANZ broking site or (direct broking)
so holding does not show,

I trade on NZX. However the rights come up if you switch to AU on the drop down thingee. Do you mean your personal holding doesn't show in your portfolio?

[Kees]

I trade on NZX. However the rights come up if you switch to AU on the drop down thingee. Do you mean your personal holding doesn't show in your portfolio?

Yes that's correct that's what i am trying to find out thanks.

[digger]

I trade on NZX. However the rights come up if you switch to AU on the drop down thingee. Do you mean your personal holding doesn't show in your portfolio?

No one will have there rights yet as entitlements does not take place until 7 pm tonight NZ time and start trading on Wednesday the 25th

[Kees]

No one will have there rights yet as entitlements does not take place until 7 pm tonight NZ time and start trading on Wednesday the 25th

ok thanks regards

[jonu]

No one will have there rights yet as entitlements does not take place until 7 pm tonight NZ time and start trading on Wednesday the 25th

Rights have been trading since yesterday. As of today shares are trading ex rights.

[digger]

Rights have been trading since yesterday. As of today shares are trading ex rights.

In every race there is someone jumping the gun.Just because share are trading X rights does not mean that rights are recorded against your name as it takes a short time to do that and entitlement has to be first established [tonight]. So officially they start tomorrow on the 25th.

[jonu]

In every race there is someone jumping the gun.Just because share are trading X rights does not mean that rights are recorded against your name as it takes a short time to do that and entitlement has to be first established [tonight]. So officially they start tomorrow on the 25th.

No gun jumping here Digger. My rights were allocated yesterday. I didn't trade any but from memory 200k went through at 0.1. The company announcement of 17th May clearly states "Rights commence trading: Monday, 23rd May 2016".

[YoungBuck]

Can someone please help this rookie.

if I own 10 shares in NTL, do I now own 30 options to buy at 0.05? Which I can sell?

forgive my ignorance if this makes no sense

[silverblizzard888]

Can someone please help this rookie.

if I own 10 shares in NTL, do I now own 30 options to buy at 0.05? Which I can sell?

forgive my ignorance if this makes no sense

Yeah you are right you now own 30 options that can redeemed for 0.05 and can sell those, but it might be hard to sell them given there is so many options available, though feel free to.

[Absolute144]

To anyone concerned. Ill make an offer of an off market trade for Your NTLRD options at $0.0001. Ie 1500,000 options for $150 and ill also pay the transaction costs. Please PM me if interested or with your asking price. Im only after 1500000 units and you must have this many. Currently the sell offer on market is asking $0.001
Cheers

[Kees]

To anyone concerned. Ill make an offer of an off market trade for Your NTLRD options at $0.0001. Ie 1500,000 options for $150 and ill also pay the transaction costs. Please PM me if interested or with your asking price. Im only after 1500000 units and you must have this many. Currently the sell offer on market is asking $0.001
Cheers

cheeky but good luck.

[bullish]

Some good comments on what the rights will trade for.
My thinking is very much dependent on what the company is up to with other unknown parties,including Amer.Note here we know nothing but have this very large cash issue anyways. So if the company had said that any short fall could only be taken up by existing shareholder as apportion of there current holding,then we would have known that Amer or any other outsider could not just sit back and let them all fall so that they could alterwards scoop them up at .005 cents a share. But we are completely in the dark here so can only speculate on various out comes. It all comes down to if or what unknown deal has been struck.
So in my first scenario where existing shareholders are put first [small likely hood] meaning that outsiders have to buy the rights then I would say they will sell at point one of a cent-----.001
if there is some under the table agreement that they will go after the cash issue is finalized to some already agreed party then the rights are will sell for between .0005 to .000000000000000nil

Digger no sense to your post. I believe it's called continuous disclosure so as it stands today we know what they know. All material info must be in marketplace before cleansing notice issued. The offer document appears to show the intent of funds application which if shareholders take up their entitlements the company could well get way higher volumes and thus $$$.

On your options post perhaps you could also argue that as the rights are not able to be sold currently the company should turn all those rights into options for you for 5 years.

[bullish]

Very good artidle on the co.


New Talisman Gold Mines Ltd to enter cash generating bulk sampling phase
Tuesday, May 24, 2016 by Proactive Investors

New Talisman Gold Mines Ltd to enter cash generating bulk sampling phase
New Talisman Gold Mines Ltd (ASX:NTL, NZX:NTL) is ready to initiate a lucrative bulk sampling program at the 100% owned Talisman gold mine in New Zealand.

Based on the average ore reserve grade of 10.8 g/t gold and the strong gold price, New Talisman has the potential to generate NZ$30 million per annum during the bulk sampling phase.

The company is currently in the process of raising up to NZ$12.3 million through a rights issue to fund the Talisman gold mine into the bulk sampling phase.

The successful development of the Talisman gold mine has enabled the company to attract institutional interest from globally significant entities such as Newcrest Mining Ltd (ASX:NCM) and Amer International.

The company is expected to soon finalise an agreement with Newcrest over the Rahu tenement, which lies immediately to the north and along strike from the Talisman Mine.

Amer International, a Fortune 500 major Chinese group with expertise in the manufacturing and metals industry are also potentially taking a significant stake in the New Talisman.


Background

New Talisman retains a 100% interest in the Talisman Mine and Rahu Project which is immediately to the north of the Talisman mine.

Historical production from the 10 mines situated within the current New Talisman mining permit is reported at over 4 million ounces of gold bullion at an average recovered grade of 23.1 g/t gold.

The company also holds 17.9 million shares in Broken Hill Prospecting Ltd (ASX: BPL) representing a current market value of circa $1.7 million.


Talisman gold mine

The Talisman Mine was mined on 16 levels and good access is available on level 8 where the company has completed refurbishment for extensive channel sampling and drilling.

Talisman comprises the Maria, Crown/Welcome and Mystery veins and level 8 leads into Crown, Mystery Woodstock and Dubbo veins.

A pre-feasibility study for underground mining at the Talisman confirmed an initial phase one life of mine of 5 years to generate NZ$68.2 million in revenues and a cash surplus of NZ$23.4 million.

Start-up capital to generate this level of revenue was estimated at NZ$5.4 million.

The majority of the ore will initially be derived from the Mystery and Dubbo sections.

The study also allowed the company to announce a maiden ore reserve of 82,500 tonnes of at 10.8 g/t gold for 28,800ounces, and 48.1 g/t silver for 127,800 ounces.

New Talisman has successfully processed ore samples from the mine under a toll treatment agreement and the gold and silver was profitably extracted and sold.

Mineralised potential within the talisman permit area has been estimated at 0.55 million to greater than 2 million ounces of gold. Additional silver potential is measured at 1.5 million to 6 million ounces.


Bulk sampling

The company is now fully geared to proceed with the project, having completed regulatory requirements to initiate bulk sampling.

Bulk sampling will see the company extract on average 650 tonnes per month for a period of 18 months to 24 months.

The current plan to extract 650 tonnes per month is conservative relative to the granted consents, which allow for up to 20,000 cubic metres of ore to be removed per annum.

Based on the average ore reserve grade of 10.8 g/t gold, a 90% recovery and US$1,300 per ounce gold price, revenues of NZ$30 million could potentially be generated.

The bulk sampling phase will provide information that will allow the company to optimise the overall project plan and transition into the initial phase of the longer term production plan.


Rahu Newcrest opportunity

Newcrest and New Talisman signed a non-binding agreement in May 2015 pertaining to a proposed farm-in and joint venture over the Rahu exploration project.

Rahu provides exploration upside for New Talisman and is part of important foundations for building a working relationship with one of the world's leading gold producers.

The joint venture agreement, covering equity participation and operatorship arrangements is expected to be finalised in the coming weeks.

Newcrest farmed into a nearby New Zealand gold project in 2015 with Laneway Resources Ltd (ASX:LNY).

Should a joint venture agreement be formalised at Rahu, an avenue for future potential strategic opportunities will be created.


Rights issue

The company is seeking to raise up to NZ$12.3 million through a renounceable rights issue of 3 new shares for every 1 existing share held.

The issue price is NZ$0.005 or A$0.005 per share and the offer closes on 14 June, 2016.

Funds raised from the current rights issue will be used in the following priority:

- Initiate bulk sampling programme;
- Accelerate bulk sampling programme;
- Complete feasibility study;
- Accelerate transition from bulk sampling to phase 1 of longer term production;
- Build out additional JORC compliant resources; and
- Fund obligations under a Rahu joint venture.


Strategic shareholder

New Talisman has had continuing negotiations with Amer International, a major Chinese group with expertise in the manufacturing and metals industry.

Amer is a major supplier of copper products and cables which last year recorded US$43.6 billion in sales.

Amer's founder Wang Wenyin, is estimated by Forbes magazine to be China's 9th wealthiest person having a net worth of US$7.9 billion.

Amer have indicated that they will visit New Zealand in the next month to advance discussions on subscribing for a potentially significant stake of new shares in the company.


Infrastructure

The Talisman mine is situated mid-way between the well-established towns of Paeroa and Waihi in the Hauraki District of North Island.

The proximity to these towns provides excellent access to local infrastructure and a transport network. A sealed road leads to within 1 kilometre of the mine site.

Lines carrying 3 phase power are equipped to the mine site can be reconnected at minimal cost.

There is a sufficient area for ore transport requirements, engineering infrastructure, offices and stores area.

The company has water take consents and has designed an environmentally friendly water reticulation system.


Analysis

New Talisman has successfully received necessary permits and regulatory requirements to restart production at one of New Zealand's largest historically producing gold mines.

Securing funding in the current rights issue is the final hurdle for the company to initiate bulk sampling which has the potential to generate revenues of up to NZ$30 million per annum.

The NZD gold price is trading at NZ$1,850 per ounce, a peak level that has not been reached since early 2013.

New Talisman is currently dealing with two high profile companies being Newcrest Mining and Amer International and agreements with either company will act as catalysts for the stock.

A joint venture agreement with Newcrest is expected to be finalised in the coming weeks and has the potential to fast track exploration at the Rahu permit.

Preliminary metallurgical testing at Talisman has confirmed that the ore does not contain unwanted contaminants.

Given the area is known for historical gold production, it is closely situated to key infrastructure such as sealed roads, transportation networks, power and water.

New Talisman Gold Mines advances development of New Zealand gold mine
Development of the Talisman Mine is continuing with the grant of Change of Conditions, completion of a comprehensive traffic survey and progress on the remaining requirements by Worksafe NZ.

An applied for an extension of land over the Rahu area, which is generally contiguous with the Talisman permit mineralisation.

New Talisman Gold Mines raises funds to continue mine development
New Talisman now has additional funds for its continued development of the Talisman Mine in New Zealand. Earlier in the month the delivered a major milestone with the first production of commercial gold from the historical mine site in over 30 years.

New Talisman Gold Mines makes milestone gold and silver sale
The first sale of gold and silver from the Talisman Mine in New Zealand has generated revenue of about NZ$100,000 (A$89,680) for New Talisman Gold Mines. NTL is now a revenue generating company and there could be more to come.

New Talisman Gold Mines samples 1.5oz/t gold in New Zealand
Sampling of stockpiled ore from has returned very high grades of gold averaging 1.5 ounces per tonne, setting the foundation for commercial terms on processing ore from New Talisman Gold Mines’ Talisman gold mine in New Zealand.

New Talisman Gold Mines prepares Talisman ore for pilot testing
Sampling and pilot processing of stockpiled ore from the Talisman Mine in New Zealand will allow New Talisman Gold Mines to ascertain the value of its ore and finalise toll treatment arrangements. Previous spot samples had returned average grades greater than an ounce per tonne.

New Talisman Gold Mines granted operational authority
The receipt of authorisation to enter and operate the Talisman gold mine permit in New Zealand puts New Talisman Gold Mines another major step ahead on the road from explorer to producer.

New Talisman Gold Mines on track to commence year-end gold production
First production from New Talisman Gold Mines’ Talisman gold mine in New Zealand remains on track to start by the end of this year. The company has raised $634,069 from its rights issue.

New Talisman Gold Mines to fast-track production in New Zealand
Dual-listed New Talisman Gold Mines is fast-tracking gold development and production from the Talisman mine in New Zealand. Annualised production is forecast to reach 12,115 ounces of gold and 36,000 ounces of silver over an initial mine life of 5 years

[cammo]

Couple of questions.....I can see the offer document on the website but can't access the acceptance form....do I have to wait for the snail paper copy to sign and return ?

Also just wanting to know if people are keen to take up their rights or just hang out the dilution?

[gmatt]

https://www.nzx.com/files/attachments/235905.pdf

Yep..... will be taking up my 6m of rights ................. sold 1.5m at 1.4/1.0 when rights announced to help fund the 6m ....... I'm optimistic about the next few months........ think we'll have to wait on snail mail for acceptance form.

[themadhatter]

Same here. That's really significant dilution by not taking them. That said, our holding isn't particularly large, so that makes it a bit easier to source the funds.

Our acceptance form arrived in the mail yesterday.

[Placemakers]

got my offer form today.
So if I want to apply for more than my allocation, I just tell them how many more I want and pay them the allocated share plus the extra I request?

What if they don't have enough share to allocate to me? Will I get refund? Is the money going to computershare or directly to NTL?
Never experience this before.

[bullish]

got my offer form today.
So if I want to apply for more than my allocation, I just tell them how many more I want and pay them the allocated share plus the extra I request?

What if they don't have enough share to allocate to me? Will I get refund? Is the money going to computershare or directly to NTL?
Never experience this before.



From previous offers acceptance forms are populated with shareholder info and then one specifies how many shares. I assume this is why it's not on website.

I think funds have to be held in trust until allotted.

The offer doc suggests that if they get more than shares remaining they give pro rata and send balance back.

We could be seeing Gold by November coming out of the mine....

[Chippie]

Has anyone tried to estimate what the share price could be after the rights have ben completed and there are 3.2B shares on issue?

[bullish]

Has anyone tried to estimate what the share price could be after the rights have ben completed and there are 3.2B shares on issue?

800m on issue now price prior to issue of 1.5. 2.4bn issued at .5

Fully funded mine
Fully funded exploration
Fully funded jv

Given when Pfs done price moved from .7 to 3.5 after a dilution are issue. I would assume definitive mining would be a significant improvement and certainly a rerating once consistent ore coming out and the company is in production.

The cheap value of this stock has more to do with history than resource value. Once the company cements production they are on a very different growth path. We long term holders won't know what to do with ourselves when company has earnings...

What's everyone's best guess if the full 12m is raised??

[Stumpynuts]

We long term holders won't know what to do with ourselves when company has earnings...


I'm going to have a golden shower.......... under falling $1 coins, ala Scrooge McDuck...
On second thought this sounded dirtier than expected after seeing it typed up in front of me... :D

[cammo]

Rocked up for full entitlement of shares ....would have subscribed for more but got another cap raise at the moment that I wanna put some $ in too. Ok only a shade under 2m shares total but becoming a bigger part of my portfolio

[Lewylewylewy]

I read a report that this new venture is expected to bring $30m PA... but does anyone know how much of that would be profit?

Also, does anyone know what percentage of these types of ventures turn out bust? I find myself I'll equipped to work out the chance and value of success of this venture, is really appreciate some help.

[Lewylewylewy]

No one knows?

[Hawkeye]

No one wants to think about it

[cammo]

Ask Snoopy to work it out

[digger]

Ask Snoopy to work it out

Try back to no one knows.
It is the uncertainty that makes up the sharemarket. If it is certainty you must have then wait until after the event and all will be clear. If it is a failure you will have saved your money,if a roaring success then expect the SP to be a little higher than it currently is.

Your call. If you want certainty you then exit the sharemarket as you have come to the wrong place.

[Lewylewylewy]

Lol 😂

Still, we're not all here guessing... we're trying to predict, which is the difference. If 99% of bulk sampling ventures fail, this opportunity isn't very exciting. If 60% hit big, the shares are more attractive as a punt.

I was hoping that among all our resources, we might have someone with some knowledge about mining. I'm surprised that we have so many gamblers here (not judging... I use my gut as a significant part of my assessment, myself. I'm a big believer that the subconscious part of the brain can be very powerful if used correctly).

[Kees]

Lol ��

Still, we're not all here guessing... we're trying to predict, which is the difference. If 99% of bulk sampling ventures fail, this opportunity isn't very exciting. If 60% hit big, the shares are more attractive as a punt.

I was hoping that among all our resources, we might have someone with some knowledge about mining. I'm surprised that we have so many gamblers here (not judging... I use my gut as a significant part of my assessment, myself. I'm a big believer that the subconscious part of the brain can be very powerful if used correctly).

Why dont you have a look at h/c robbo's post will tell you all you need.

[Placemakers]

Lol 

Still, we're not all here guessing... we're trying to predict, which is the difference. If 99% of bulk sampling ventures fail, this opportunity isn't very exciting. If 60% hit big, the shares are more attractive as a punt.

I was hoping that among all our resources, we might have someone with some knowledge about mining. I'm surprised that we have so many gamblers here (not judging... I use my gut as a significant part of my assessment, myself. I'm a big believer that the subconscious part of the brain can be very powerful if used correctly).


not too sure what your question is, if it's relating to the estimate production cost per OZ, it's given in previous announcements (https://www2.nzx.com/companies/NTL/announcements/235336) Robust C1 cash cost of US$588/oz and C3 Cash cost of US$1075/oz – well below current prices,

Some people done their own calculation in this forum if you go back some Pages

[Paint it Black]

Rocked up for full entitlement of shares ....would have subscribed for more but got another cap raise at the moment that I wanna put some $ in too. Ok only a shade under 2m shares total but becoming a bigger part of my portfolio

OK I'm in for 6 times that - the time has come to get the show on the road. Who else is prepared to put their money down - there are massive upsides both with the bulk sampling (especially if funding permits acceleration), Amer interest, Phase 1, ongoing exploration, the Rahu JV and BPL (16% holding and their SP is rising quickly)? The SP must surely rise above 0.5c over the next 6 months.

[Landyman]

Looks like we will have some nice announcements for the next few weeks, pretty much until the $ rights are done.

NTL
08/06/2016 11:18
MINE
PRICE SENSITIVE
REL: 1118 HRS New Talisman Gold Mines Limited

MINE: NTL: Talisman exploration data update

8th June 2016

FOR IMMEDIATE RELEASE: ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED [ASX,
NZSX: NTL]

HISTORIC DATA SHOWS INCREASED DUBBO POTENTIAL AND ENHANCED TARGET AREAS AT
TALISMAN
Talisman Exploration Potential
The Company sees a significant upside to the whole Talisman project from
increased exploration potential based on further analysis of its own
exploration data and incorporating historic data now available to it. This
follows acquisition a large amount of historic data in 2015 that was not
previously available. Analysis is ongoing but preliminary results are
extremely encouraging.
Work over the last several years has focused on obtaining the necessary
consents and permits for the staged development of the Talisman Mine. Now
that this is well advanced it is timely to look to the future to increase
mine life and future production.
Once its development targets are reached the company plans to use surplus
funds to expand its exploration to increase gold resources within the
Talisman Permit area which is part of the 4km by 3km epithermal gold system
that the Talisman and Rahu gold projects lie within.
Exploration attention will be directed in the immediate future to those areas
that are likely to be more accessible from within areas slated for early
development. These are:
o Extensions to the Dubbo Zone, mainly at depth
o The Mystery Vein and its possible northward extensions in the Roderick Dhu
workings around 600m north.
o The Sutro workings to the east of the
o The Crown Mine above 5A Level
o Crown Mine
A number of other exploration targets exist namely, Talisman Depth
Extensions, Talisman South, Taukani Hill, Crown-Welcome Depth Extensions, the
Comstock workings, Dominion Knoll.
Reference in the following text to targets, exploration targets,
mineralisation, extensions to resources, exploration potential are defined as
Exploration Targets in the 2012 JORC Code and that the potential quantity and
grade is conceptual in nature, that there has been insufficient exploration
to estimate a Mineral Resource and that it is uncertain if further
exploration will result in the estimation of a Mineral Resource.
The historic data being cited here is based on examination of old mine plans,
drawings and digital data. Information on quality control procedures,
analytical methods, sampling methods are not known and have not been
verified.
Exploration Targets
Dubbo Zone
The Dubbo zone occurs on the Maria Vein some 800m inside the mine along No 8
Level and is the largest of the mines existing ore blocks containing some
145,000 oz gold of the mines 204,600 oz mineral resource at an average gold
grade of 10.1 g/t Au.
Of particular significance to immediate extensions to the current resource is
that the historic data acquired in 2015 includes plans showing data that
suggests potential depth extensions of the Dubbo Zone.
One such plan, thought to have been compiled circa 1919, is a long section of
the Talisman Mine showing the results and location of approximately 2142
channel samples that were taken up rises and winzes within the mine. As was
the convention of the day, the grade of these samples is presented as the
cash value of bullion (combined gold and silver) contained in a ton of ore
based on a gold price of ?4.25 per troy ounce.
From the records gold:silver ratios range generally from 1.4 to 1:6 with
considerable variation. Hence in analysing the data the prevailing gold price
at the time of ?4.25 per troy ounce has been used as the best method to
convert the cash values to equivalent gold ounces.
The data shows the results of 541 samples taken in raises from 10, 11, 12 and
13 Levels immediately below the occurrence of the Dubbo zone on No 8 Level.
Analysis of all these samples yields a mean of 13.26 g/t gold equivalent.
Using a 3.0 g/t Au lower cut off to these samples yields a mean of 28.61 g/t
Au equivalent within a sample range of 125.17 g/t. This lower cutoff is the
same as applied in the company's ore reserve calculations.
This grade is significantly higher than the 10.1 g/t Au value in the
company's mineral resource estimate for the Dubbo and demonstrates potential
upside for production planning. The extension of the Dubbo Zone lies
immediately below workings planned in the Five Year production plan and can
be readily accessed by extending the planned ramp system downwards at a very
small incremental capital cost.
While the quality control and assurance procedures in place at the time that
the samples were taken cannot be verified and the data cannot be used to
generate mineral resource or reserve estimates that will comply with the
requirements of the JORC code, the information certainly confirms the
company's view that the Dubbo Zone extends further to depth and that this
zone will play an important role in the future operational plans of the mine.

Mystery Vein
The Mystery Vein is a high priority target for development and will be tested
as part of the bulk sampling phase.
It was discovered in the late 1980's when Keillors Crosscut was driven to
connect the Talisman 8 Level with the Crown Mine 5A Level to provide
ventilation flow. The previous mine owners drove on the Mystery Vein 30m
north and 20m south of Keillors Crosscut.
NTL have channel sampled and drilled 3 diamond holes. There is currently a
small resource of 10,300 oz Au and 17,100 oz Ag. The vein lies between the
Maria and Welcome/Crown Veins approximately 200m east of the Maria Vein. Its
orientation, width and character are consistent with the two main veins mined
historically.
Examination of surface and underground geochemical sampling results from the
newly acquired historic data shows the possibility that the Roderick Dhu
veins that occur around 600m north of the Mystery vein may well be the same
vein system.
NTL has long speculated that this might be the case and analysis of the new
data supports this. The grades recorded in the historical data set from 39
surface outcrop and underground channel samples range from below detection to
84.0 g/t gold with an average of 11.89 g/t Au and 107.4 g/t Ag. Sample widths
range from around 10cm to 1.8m and average 0.4m.
Crown Mine above 5A Level
The Crown mine which historically extracted gold from two main veins the
Welcome and the Crown has JORC 2004 compliant measured, indicated and
inferred resources of 29,500 oz gold and 59,400 oz silver delineated.
This was based on channel sampling carried out by NTL in 2004 on the 5A level
which runs parallel to the Talisman mine 300m to the west. The 5A Level has a
known length of over 500m. Most historic mining occurred below the 5A level
with limited prospecting drives on the surface. NTL have seen the
continuation of the Crown Vein between this level and the surface
approximately 180m above as an exploration target that if results warranted
could be accelerated into production.
Examination of the historic data from 123 surface or near surface samples of
the Crown Vein show that what appear to be mainly channel samples, to be
averaging 10.47 g/t gold, 19.0 g/t silver with an average sample width of
0.86 metres. Sample widths ranged from 0.1m to 3.0m, while gold grades range
from 0.05 g/t to 147.5 g/t.
Sutro Workings
The Sutro workings lie approximately 100m east of the Crown Mines surface
outcrop. These appear to be a southward extension of the north east trending
Imperial veins. Their significance is now apparent from the historic data and
they require further work to develop the target but do demonstrate the
potential for the permit area.
Preliminary observations are that the veins in the Sutro workings from which
39 channel samples were taken range in gold values

[bullish]

Wow.

Spectacular grades. I'm no geologist but with targets like that they could be onto a huge development.

[Landyman]

Wow.

Spectacular grades. I'm no geologist but with targets like that they could be onto a huge development.

Amazing. I even got an email direct from NTL company secretary today (as you all probably did). Communication issues resolved, maybe they just got Outlook ;-)

[bullish]

Amazing. I even got an email direct from NTL company secretary today (as you all probably did). Communication issues resolved, maybe they just got Outlook ;-)

I get them every announcement and have done for years....did you just get outlook? :)

[gmatt]

Think they've upgraded their systems ............ I have held quite a few NTL for 4 years and yesterday my first direct email ..... good to see!!
More importantly..... they've extended the rights takeup date and hopefully they get the cash to do the necessary ..... next few months will be very interesting with hopefully a good rise in the SP.

[Landyman]

Its all very quiet round here. Given the massive $$ raising, and the seemingly good news pucblished recently, I was thinking there would be more discussion. I guess we have said it all before, hold tight, and wait for the SP to climb.

[Antipodean]

Not much can really change until the CR is finished, unless news comes out that changes the current situation.

It has been a long time coming but the mine is about to really become active and the results that are dispensed over the next 12 months will see significant impacts on the market cap.

So yeah, IMO - hold tight and it is going to be a fun ride.

[bullish]

FOR IMMEDIATE RELEASE





MOU WITH AMER INTERNATIONAL





New Talisman Gold Mines Ltd (ASX, NZSX: NTL) is delighted to announce it has


accepted a signed non-binding terms sheet from Amer International Group of


Shenzhen to invest in New Talisman.





As previously announced NTL has been progressing commercial dealings with


Amer since a visit to Amer Headquarters in November 2015.





The signed term sheet proposes Amer acquire a controlling stake of around 70%


in New Talisman in return for a cash subscription and guaranteed cash profit


underwrites over a 3-year period. Given the size of interest that Amer seeks


to acquire, the transaction is subject to completion of due diligence,


detailed agreements being signed, and shareholder approval under the New


Zealand takeovers code, listing rules of the ASX and NZX and any other


regulatory approvals. Amer has agreed to contribute a non-refundable $50,000


contribution towards New Talisman's transaction costs of progressing to the


next stage.





About Amer





Amer International Group is a diversified industrial and high-technology


group. It has grown from producing a small range of industrial metals and now


produces an integrated range of new metallic and non-metallic materials. In


recent years the group has striven to develop its industrial manufacturing


capability, science and technology smart parks, strategic investments,


trading platforms and other key areas. Amer is currently ranked 247 in the


Fortune Global 500 ahead of many of the world's largest companies.





Amer has built three research and development centres around the world, (in


Switzerland, US and Singapore) and has funded education and development with


many prestigious institutes of higher learning including Harvard University,


University of Oxford, University of Cambridge, University of Washington, New


York University, City University of Hong Kong, Peking University, South


University of Science and Technology, Anhui University.





According to Amer's published information Amer owns area of over 10 square


kilometres business development parks, 100 square kilometres industrial


development parks, 1000 square kilometres of operating mining areas, 10000


square kilometres mining areas worldwide. Amer also have 100 thousand square


kilometres of mining areas with exploration rights: the total value of the


demonstrated mineral reserves is over 10 trillion RMB.





Mr. Matthew Hill


Chief Executive Officer


New Talisman Gold Mines Ltd


M: +64 21 795 559


E: matt@newtalisman.co.nz

[bucko]

can someone shed some light on this? I'm not quite sure I understand the implications of this.

AMER will purchase 70% of the company? for what?

Does this mean there could be further dilution of holdings?

[Crow]

can someone shed some light on this? I'm not quite sure I understand the implications of this.

AMER will purchase 70% of the company? for what?

Does this mean there could be further dilution of holdings?

I'm watching here - http://hotcopper.com.au/threads/ann-mou-with-amer-ntl-nz.2792151/#.V2Ig_NF952R

[Landyman]

weird, given the unknown of the Capital raise ($12m) for lots more share, what is the 70%. Hmmm. Clarity required. Non-binding though, and only fronting with $50k, so if they walk, what happens?

If they get the full $12m, do they really need Amer?

[Absolute144]

can someone shed some light on this? I'm not quite sure I understand the implications of this.

AMER will purchase 70% of the company? for what?

Does this mean there could be further dilution of holdings?

Just a case of take from the poor, give to the rich. Of course there will be enough options not exercised, you had to come up with x what you already had in it to avoid dilution. that was the plan i think. thanks guys for all your support, well just give 70% of the company to a really wealthy conglomerate now for cheaper average price than any of you long term holders.

[Antipodean]

Just a case of take from the poor, give to the rich. Of course there will be enough options not exercised, you had to come up with x what you already had in it to avoid dilution. that was the plan i think. thanks guys for all your support, well just give 70% of the company to a really wealthy conglomerate now for cheaper average price than any of you long term holders.

Surely we should get some more details before we wholeheartedly support or denounce the deal. It is just as possible that the price paid will be substantially higher than the average price paid by long term holders. Anything proposed will require shareholder approval - you think they would shoot themselves in the foot?

[digger]

Just a case of take from the poor, give to the rich. Of course there will be enough options not exercised, you had to come up with x what you already had in it to avoid dilution. that was the plan i think. thanks guys for all your support, well just give 70% of the company to a really wealthy conglomerate now for cheaper average price than any of you long term holders.

As I stated at the first of this large cash issue,it was designed to not be taken up in full. Even the past one were not taken up completely and they were about 1 for 10 or 4 nothing like this 3 for one.
So if at 3 for one are all taken up it means that 75% of the shares in existence after this cash issue will be new shares. Hence most of the 70% for AMER will come from the shart fall of this cash issue. That is my thinking.

[cammo]

If all small holders group up and not sell out can we do an NKP: ASX to them?

[Placemakers]

Yes, as I have posted earlier the Chinese website already told us about the Amer take over dec 2015, all the right issue etc.. Are planed

Amer will take the short fall and the rest may purchase from us on market or other ways

[YoungBuck]

But this is still good news for us?

[Paint it Black]

But this is still good news for us?

Definitely IMHO. This is going to generate the long awaited capital to finally develop Talisman quickly as well as Rahu with Newcrest. It is great that management have been able to make this announcement while we still have an opportunity to buy into the rights offer. The more we now purchase the higher the SP will become for them to top up their 70%. Rattle those piggy banks - already there is a 0.2c premium on the offer.

[Absolute144]

As I stated at the first of this large cash issue,it was designed to not be taken up in full. Even the past one were not taken up completely and they were about 1 for 10 or 4 nothing like this 3 for one.
So if at 3 for one are all taken up it means that 75% of the shares in existence after this cash issue will be new shares. Hence most of the 70% for AMER will come from the shart fall of this cash issue. That is my thinking.

I think you are right. i Agree

[bullish]

Yes, as I have posted earlier the Chinese website already told us about the Amer take over dec 2015, all the right issue etc.. Are planed

Amer will take the short fall and the rest may purchase from us on market or other ways


No thats not right as they announced that foreign parties cant take up rights correct? It requires shareholder approval so we all have the right here to simply say yes or no. The process is pretty stringent and tehse guys have to comply with ASX and NZX takeovers codes.

The more the rights are taken up the higher the price the higher our potential takeout if we say yes. Can someone advise if thats the case?

I assume that is why price is not here as how could they price such without the rights issue complete and a vwap of such.

[bullish]

Definitely IMHO. This is going to generate the long awaited capital to finally develop Talisman quickly as well as Rahu with Newcrest. It is great that management have been able to make this announcement while we still have an opportunity to buy into the rights offer. The more we now purchase the higher the SP will become for them to top up their 70%. Rattle those piggy banks - already there is a 0.2c premium on the offer.

Totally agree :)

[diceman]

This is pretty typical in my experience speculating in juniors. These big guys swoop in and pick up large chunks off tired long termers for nothing just before price of gold rockets. Look at the performance of juniors all over the world and you will see the next leg up in AU is already underway, it's been a long time coming. NTL doesn't have to do anything and the share price will soar along with gold. Ill be voting no to the deal unless the offer gives me at least a 10 bagger.

[Landyman]

As I stated at the first of this large cash issue,it was designed to not be taken up in full. Even the past one were not taken up completely and they were about 1 for 10 or 4 nothing like this 3 for one.
So if at 3 for one are all taken up it means that 75% of the shares in existence after this cash issue will be new shares. Hence most of the 70% for AMER will come from the shart fall of this cash issue. That is my thinking.

Digger I agree, there was the distinct smell of rat when the 3 for 1 announcement was made, yes it was at a discount the the SP at the time (though it had only recently risen from its dwelling at 0.4-0.5c), but forcing out hands (to avoid dilution), asks that we stump up with a bunch of cash, far far higher than NTL have ever asked for before.

I get that more cash, will allow for faster development, but if the rights were fully subscribed, isnt $12m enough to get us (current NTL holders, not Amer) through to production?

Overseas inventment will get involved, if the unsubscribed are offered to Amer. Positive that they will at least move things forward.

[rpn]

This is pretty typical in my experience speculating in juniors. These big guys swoop in and pick up large chunks off tired long termers for nothing just before price of gold rockets. Look at the performance of juniors all over the world and you will see the next leg up in AU is already underway, it's been a long time coming. NTL doesn't have to do anything and the share price will soar along with gold. Ill be voting no to the deal unless the offer gives me at least a 10 bagger.

Agreed. Depending on the publishing of the finer details of course, I don't see why an existing shareholder would vote yes to allowing Amer to take a controlling share - Especially if the rights offer is largely successful and we have enough cash to fund the bulk sampling and Rahu obligations.

Let Amer buy on market if they are that keen.

[gmatt]

Don't understand the buying at .007c when the rights can be bought at a total of .006 ...... very strange?? Buying the rights has to be the best for all shareholders.

[Blue Horseshoe]

Correct me if I'm wrong, but doesn't the majority share holder know the full details of the deal and therefore know if they should fully subscribe to the rights offer and even pickup the some more unsubscribed rights.
If so, does this not put them at an unfair advantage? .

[themadhatter]

Don't understand the buying at .007c when the rights can be bought at a total of .006 ...... very strange?? Buying the rights has to be the best for all shareholders.

It's absolutely bizarre.

I've taken up my full rights, which are extremely modest compared to most on here I'd say, and sent off a couple of weeks back (and deposited money). Are we likely to hear anything back from them acknowledging that they have received the acceptance form? With other offers I've taken part in, you can email the form off and hear back immediately acknowledging receipt. They didn't seem to offer this here which was a bit annoying.

[bullish]

Digger I agree, there was the distinct smell of rat when the 3 for 1 announcement was made, yes it was at a discount the the SP at the time (though it had only recently risen from its dwelling at 0.4-0.5c), but forcing out hands (to avoid dilution), asks that we stump up with a bunch of cash, far far higher than NTL have ever asked for before.

I get that more cash, will allow for faster development, but if the rights were fully subscribed, isnt $12m enough to get us (current NTL holders, not Amer) through to production?

Overseas inventment will get involved, if the unsubscribed are offered to Amer. Positive that they will at least move things forward.

Arent you blokes missing the fact that the announcement put out a few weeks ago stated no shares could be issued to foreign companies. Even if they could it states in this announcement shareholder approval is required. How could shareholders approve a 70% placement of shortfall which is unlikely to be nearly that high given the announcment itself and price is currently .7. Wouldn't it mean an egm, all takeovers code requirements etc???

[bullish]

New Talisman proposes selling controlling stake to Chinese group
Eamon Rood - Fri, 17 Jun 2016

New Talisman Gold Mines is looking to sell a controlling stake in its business to Chinese multinational Amer International Group.
The two companies have signed a non-binding memorandum of understanding proposing Amer acquire a controlling stake of around 70 per cent in New Talisman, in return for a cash subscription and guaranteed cash profit underwrites over a 3-year period.

[cammo]

GAFMO NTL. I didn't mean sell out to China. Especially since POG is on the rise again ! 12 million should build a huge operation there in 5 minutes ( according to good-quick-cheap law - u universal law of life)

[gmatt]

Yeah ..... think that 70% Chinese announcement will encourage the rights takeup ...... wouldn't be surprised to see them raise $10m plus ....... which obviates the need for the Chinese surely ........I took up more rights than I should have and won't be selling out any time soon!!! I would like NTL to define exactly how Amer will acquire the 70% .......... by takeup of unsold rights? ..... a new rights issue? ....... or the logical one ...... buying shares on the open market??

[Absolute144]

To anyone concerned. Ill make an offer of an off market trade for Your NTLRD options at $0.0001. Ie 1500,000 options for $150 and ill also pay the transaction costs. Please PM me if interested or with your asking price. Im only after 1500000 units and you must have this many. Currently the sell offer on market is asking $0.001
Cheers

Ah hem, I just wanted to bring this offer to peoples attention. Its still on the table , until the 23rd at least. NZX shares only, keen for 1500000 to 2000000 rights as above. :)

[Paint it Black]

Ah hem, I just wanted to bring this offer to peoples attention. Its still on the table , until the 23rd at least. NZX shares only, keen for 1500000 to 2000000 rights as above. :)

Price of gold up 8% 30 minutes ago to $US1360, Netherlands also want a referendum - this has to be good for the rights offer closing next Thursday.

[Absolute144]

Should be. I hope so. As i understand, today was the last day you could renounce your rights. So you either take them up or they lapse.

[whatsup]

Was last night good / great for NTL or what ! as long as the gold price stays up there. N Z $1866 !

[Paint it Black]

Should be. I hope so. As i understand, today was the last day you could renounce your rights. So you either take them up or they lapse.

That's correct if you want to sell your rights but you still have until 5pm this Thursday to confirm your acceptance at 0.5c per share to purchase the rights assigned to you to convert them into ordinary shares.

[jonu]

Where's the downside? There aint one!!!:t_up::t_up::t_up:

[Stumpynuts]

Where's the downside? There aint one!!!:t_up::t_up::t_up:

This one-liner perhaps the most interesting for me. Well for me anyways.

"If a joint venture is not established 100% of the project would be
transferred to NTL subject to Ministerial consent."

[Meister]

What is in it for Newcrest here? These terms seem very favourable to NTL unless I am misreading this.

[Joshuatree]

Interesting .Right from under Oceania's toes.

[whatsup]

UP 50% so far today to .009, just in time for the rights closing, I guess that this will insure its success , well done all participators .

[gmatt]

Yes, great ........... the Aussies also like the news ............. 42+ million traded on the ASX!!

[Landyman]

Wow, theres some chunky moves on the SP today after that announcement. Aussie running higher than NZ at the mo too.

Fun times

[whatsup]

My concern is what will happen to the S P once these tens of millions of shares from the current issue hit the ownership accounts , will NTL return to the .005 issue price ?

[YoungBuck]

I sent my form off last week and the money via Internet banking. Will I receive a confirmation letter/email?

[Rosco]

Wacked through the $$ today and took up my full entitlement. Gonna be an interesting couple of years if for nothing less than for entertainment value. POG is going to be a big factor on the direction this is going to take.

[themadhatter]

I sent my form off last week and the money via Internet banking. Will I receive a confirmation letter/email?

I sent mine off at the start of the month and haven't heard anything, so hopefully not. I might give Computershare a call tomorrow and check just to be sure!

[whatsup]

Are S Hers today selling @ .007 to take up their rights, if so that could be the bottom at this price.

[Landyman]

My concern is what will happen to the S P once these tens of millions of shares from the current issue hit the ownership accounts , will NTL return to the .005 issue price ?

Yeah, SP should drop closer to 0.005, with over 2 billion shares to be issued. That said, NTL are rolling out the positive news, so who knows where we could end up.
If I crystal ball gaze (well, actually base things on history), then NTL will go dead quiet with their comms once the rights $$$ is in the bank.

Sometimes Im too negative :-(

[gmatt]

Yeah, SP should drop closer to 0.005, with over 2 billion shares to be issued. That said, NTL are rolling out the positive news, so who knows where we could end up.
If I crystal ball gaze (well, actually base things on history), then NTL will go dead quiet with their comms once the rights $$$ is in the bank.

Sometimes Im too negative :-(

How about ........ there will be a good rights uptake by "holders" ..... NTL will have the $12.5m needed to fasttrack operations as they have stated they could do .... all the while making good positive announcements about progress ..... the price of gold stays high .... Amer makes more positive noises ...... all these things creating more interest in NTL ...... who knows where the SP could be at the end of the year?? Maybe a bit optimistic?? :-)

[Landyman]

Does anyone have an email address for Computershare? Fax only, are we still in the 80s?

[BigBob]

Does anyone have an email address for Computershare? Fax only, are we still in the 80s?

Try corporateactions@computershare.co.nz... I sent the form to that address and received a confirmation email to say it was received...

[whatsup]

Does anyone have an email address for Computershare? Fax only, are we still in the 80s?

enquiry@computershare.co.nz

[Crow]

Does anyone have an email address for Computershare? Fax only, are we still in the 80s?

http://www.computershare.com/nz
http://www.computershare.com/nz/new-zealand-office-location


Try Call them
Auckland City

Phone+64 9 488 8700

Postal AddressPrivate Bag 92119, Auckland 1142

Street Address159 Hurstmere Road, Takapuna

Fax+64 9 488 8787

[Landyman]

Nice, thanks all.

Now back to the crystal ball and what the SP will do...

[whatsup]

Count down to rights close this afternoon, who is undecided still !

[Landyman]

Count down to rights close this afternoon, who is undecided still !

I was up until recent announcement. In with a grin!

[Antipodean]

I'm in for full rights issue - I'm felling very bullish on this. Annual Report is very positive for me also.

[Landyman]

Shares seem to have been allocated, hopefully NTL get to announce that it was fully subscribed and that they are sitting on $12m - and that it will be put to immediate use - and that they have a bonanza sampling result

[HumptyDumpty]

Pretty sure allocation happens on Tuesday the 5th, no?

ANZ Securities seems to have allocated me all of my entitlement for now which gave me a (short lived) pleasant surprise this morning when I logged on to look at my portfolio.

Unfortunately I couldn't afford to take them all up so I know this isn't accurate. I'm guessing this will readjust come Tuesday.

[Landyman]

Pretty sure allocation happens on Tuesday the 5th, no?

ANZ Securities seems to have allocated me all of my entitlement for now which gave me a (short lived) pleasant surprise this morning when I logged on to look at my portfolio.

Unfortunately I couldn't afford to take them all up so I know this isn't accurate. I'm guessing this will readjust come Tuesday.

Yes, Tuesday seems to be the day. Weird the Directbroking show them as owned now though

[Antipodean]

Not showing up on ASB

[cammo]

Mine are there and correct on anz

[HumptyDumpty]

Interesting. If I had taken up my full entitlement it would look correct as it shows now, so I wouldn't be able to tell. I only took up 30% or so I know mine can't be right.

I'll pay more attention to it on Tuesday the 5th.

[Absolute144]

I think you,ll have to add the transaction manually with asb.

[Absolute144]

Not showing up on ASB

Sorry , see msg As below

[Landyman]

I guess when shares gett issued tomorrow, NTL will announce how much they raised?

[HumptyDumpty]

I guess when shares gett issued tomorrow, NTL will announce how much they raised?

I was hoping it would be today. Maybe end of the day?

[Absolute144]

Anybody want to look at the charts and give us a possible trend for tomoro / week?

[cammo]

I think we will have to wait for a couple of announcements like a few job positions advertised/being filled and some preliminaries being ticked off before sp moves much.

[Landyman]

I think we will have to wait for a couple of announcements like a few job positions advertised/being filled and some preliminaries being ticked off before sp moves much.

Yes, we should hear something:
1. How much was raised? (Directbroking still shows only 817m shares)
2. Is Amer deal still on the cards, and if so, in what capacity
3. What is the short to medium term plans for the wad of cash they should have.

[gmatt]

My rights shares are now showing on Computershare ....... I guess not too long until we get the announcement as to how the issue went.

[Blue Horseshoe]

Just wondering , if after the capital raising there will be over 3 billion shares on issue, will the NZX be able to
handle this amount or will it spit the dummy like it did with vmob, if so might need a trading halt, share consolation and back in action.?

[Blue Horseshoe]

Answer my own question , it must be OK, because sea dragan has over 3 billion,

[whatsup]

Well with the issued shares and increase in capital is the $4.7 mil raised enough to get NTL to positive cash flow ( I guess theres the new money as well ) !

[Landyman]

For the purposes of Listing Rule 7.12.1 of the NZX listing, New Talisman Gold
Mines Limited advises the following
Securities have been issued on 5 July 2016 pursuant to its renounceable
rights issue:
a Class of security Ordinary Shares
ISIN NZNTLE0013S0
b Number issued 905,535,515
c Nominal value $4,694,130
Issued at NZ$0.005 or AU$0.005 per share (a total of NZ$3,694,161 and
AU$959,869

[Landyman]

Hmm, so less than half the rights were taken up.

Maybe Amer is required.

Still, $4.7m is a lot more cash than NTL have had for a while. Explorer to Producer, you can do it!!

NTL have 3 months to place the shortfall.

[Landyman]

THunderbirds are Go!

NTL
05/07/2016 14:13
GENERAL
PRICE SENSITIVE
REL: 1413 HRS New Talisman Gold Mines Limited

GENERAL: NTL: NTL successfully raises $4.69M

5th July 2016

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL or NTLOA)
FOR IMMEDIATE RELEASE
NTL SUCCESSFULLY RAISES $4.69M

Highlights
o Successful completion of rights issue raises approximately $4.7M.
o Board initiates the bulk sampling/trial mining at Talisman Mine.
o Mystery Vein targeted for first ore extraction.
o The company is analysing historical data to target the enormous upside
potential at Talisman.

New Talisman Gold Mines Limited (New Talisman or NTL) is delighted to
announce it has raised a total of $4.69M through the issue of 905,535,515
shares following its 3 for 1 renounceable rights issue dated 25th May 2016.
The company has had tremendous support from Australian and New Zealand
shareholders to the issue.
Following the strategy laid down by the board in 2012 the board is delighted
to announce it has now completed the transition from explorer to developer
and sits today on the eve of the company's final transition to producer with
commencement of trial mining/bulk sampling at the Talisman mine.
The board has now resolved to immediately initiate the bulk sampling/trial
mining programme. Works have begun ranging from the purchase of equipment
through to finalising the remaining module on health and safety expected to
be lodged in the coming weeks.
Bulk Sampling Programme
With funding for the project now secured the company has initiated the first
steps towards extracting ore from the underground workings of the mine. This
ore is planned to be sourced from two of the mines most promising Mineral
Resource Blocks namely the Mystery and Dubbo blocks.
These first steps towards mine production involve ensuring safe access for
vehicles and personnel to the mine site through implementing the controls set
out in the company's Traffic Management Plan for upgrading the current access
road. The company will immediately action the design works with a view to
begin construction in Q3 2016.
Once the roadto the site is upgraded the company will proceed with securing
and equipping the mine site. Services reticulation equipment will be
transported to site and installed along with demountable office
accommodation. Construction of the ventilation lock and primary fan
installation will follow along with fit out of the explosives magazine and
construction of surface ore handling facilities. With these in place, work on
the refurbishment of the mine's tunnels and installation of underground
services can begin.
Refurbishment and equipping is expected to take approximately 6 months to
reach the working face at the Mystery Vein Drive. During this time, apart
from installing engineering reticulation services, the company will install
modern support systems in a number of areas, construct a series of
ventilation controls in order to manage the flow of air through the mine
workings and construct the underground water handling system. With these
systems in place production of ore from the Mystery vein through drill and
blast methods can commence.

The Mystery Vein
The Mystery Vein presents one of the most exciting opportunities for the
company and has the potential to become a significant source of future
production and revenue. The vein was discovered in the late 1980's when
Keillors Crosscut was driven to connect the Talisman 8 Level with the Crown
Mine 5A and lies between the Maria and Welcome/Crown Veins approximately 200m
east of the Maria Vein. The vein has been exposed over a strike length of
approximately 50m where its orientation, width and character are consistent
with the two main veins either side.
NTL have previously channel sampled the exposed vein on the north drive of
the Mystery Vein where results ranged from 1.12g/t Auto as high as 53.0g/t Au
and has an estimated Mineral Resource of 10,300 oz Au and 17,100 oz Ag based
on the known dimensions. The location of the Mystery Vein between the Crown
and Maria veins suggests the possibility that the Roderick Dhu workings, that
occur around 600 m north of the Mystery vein, may well be the same vein
system. Recent analysis of historic data supports this with grades recorded
in the data set from 39 surface outcrop and underground channel samples
ranging from below detection to 84.0 g/t Au with an average of 11.89 g/t Au
and 107.4 g/t Ag. Sample widths range from around 10cm to 1.8m and average
0.4m.
Dubbo Zone
Once production is underway at the Mystery Vein the company will continue
with refurbishment of the Dubbo Drive for some 300m beyond Keillors crosscut.
Once equipping is completed the company will begin development of a series of
tunnels within the Maria vein in this very important section of the mine. The
Dubbo zone is the largest of the mines existing ore blocks containing some
145,000 oz gold at an average gold grade of 10.1 g/t Au. Bonanza grades of
around 3000 g/t Au have been reported in the past by the previous operators
in the late 1980's. Channel sampling by NTL in the BM37 stope in 2004
returned grades of between 1.04 and 798.92g/t Au. A 63 tonne parcel of
stockpiled ore that was sourced from this area was recently treated at the
Waihi gold plant and yielded 89 oz of gold at an average grade of 43.76g/t
(1.4 oz/t Au).
Based on current estimates production is expected to build up to steady state
levels of between 650 and 700 tonnes per month yielding between 200 and 220
ounces of gold at an on mine cost of approximately NZD900/oz. With the price
of gold now exceeding NZD2,000/oz it is expected that the project will be
self-sustaining at these levels. Beyond this there are many opportunities to
expand the production base and the company is in the process of evaluating
these.
Matthew Hill Said "Following the most successful fundraising in the company's
recent history the bulk sampling programme is now fully funded and has been
initiated. This result is one of the more successful raisings by a junior
miner in NZ this year and supports the attractiveness of the Talisman project
in a very competitive market for investor funds. The completion of the rights
issue cements the company in its transition to developer and allows us to
begin the necessary works to bring this historically productive Talisman mine
back into production"
__________________________________________________ ___________________________

[bucko]

Too soon to order that Aston Martin?

[Placemakers]

Too soon to order that Aston Martin?
I already Ordered a Rolex

[Landyman]

Matt Hill did, took up his rights.

The sell done is on, nice 40% lift for those who want out.

[Flugenbear]

'With the price of gold now exceeding NZD2,000/oz it is expected that the project will be
self-sustaining at these levels'

Not sure what kind of rates this statement was based on because when it was made it was closer to 1850NZD. It's creeping higher but it makes we wonder what over exaggerations have been made...

Anyway, I'm bullish. Just don't like to see these 'mistakes'.

[bucko]

Is this going to self-update? ANZ Securities have added the full amount to my portfolio...which I didn't take the full amount

[Landyman]

Is this going to self-update? ANZ Securities have added the full amount to my portfolio...which I didn't take the full amount

I got the same issue. I deleted the ANZ entry and added my own manually.

[Kees]

http://www.proactiveinvestors.com.au/companies/news/69634/new-talisman-gold-mines-ltd-green-lights-trial-gold-mining-69634.html

[Antipodean]

http://www.proactiveinvestors.com.au/companies/news/69634/new-talisman-gold-mines-ltd-green-lights-trial-gold-mining-69634.html


Is it just me or does this imply we have 100% Rahu also? Did someone mess up?


"New Talisman retains a 100% interest in the Talisman Mine and Rahu Project which is immediately to the north of the Talisman mine in New Zealand."
(emphasis mine)

I like this part though:

"Based on the average ore reserve grade of 10.8 g/t gold, a 90% recovery and US$1,300 per ounce gold price, revenues of NZ$30 million could potentially be generated."

Not bad for a $10-12m mcap company.

[Stumpynuts]

Is it just me or does this imply we have 100% Rahu also? Did someone mess up?



I pondered the same question a few pages back on page 121 of this thread.

"If a joint venture is not established 100% of the project would be
transferred to NTL subject to Ministerial consent."

[Antipodean]

I pondered the same question a few pages back on page 121 of this thread.

"If a joint venture is not established 100% of the project would be
transferred to NTL subject to Ministerial consent."

True NTL has a potential for 100% under certain conditions but I think at this stage it is possible misleading to advised we already have 100% interest in Rahu.

[jonu]

Big anomaly between AU and NZX sp this morning. Bid at 0.8 Aud and 0.6 NZX

[Antipodean]

Big anomaly between AU and NZX sp this morning. Bid at 0.8 Aud and 0.6 NZX
They are pre open bids... so have to be taken with some salt. Still it is a big difference at the close on ASX compared to NZX today.

Perhaps many more on the NZX side picked up rights and are selling for a quick profit?

Makes me wonder if raising fewer shares at a higher price would have been the way to go.

[ddrone]

Opened at 0.8c with huge buy depth on the AU side. Is the AU side a bigger holding?

[Yoda]

70% interest share for Amer group possibly, as per Report The Chinese get everywhere. Does that mean they would own 70%of the company ? Should help SP, but sad to see everything in NZ having a cut to China . We often walk the tracks in the gorge near the mines, beautiful area. and of course it is very close to Waihi mines just sold to OGC. May be one day they will take over NTL . There are some nice guides showing photos of the old 1900 workings, some of which are still around .

[Antipodean]

70% interest share for Amer group possibly, as per Report The Chinese get everywhere. Does that mean they would own 70%of the company ? Should help SP, but sad to see everything in NZ having a cut to China . We often walk the tracks in the gorge near the mines, beautiful area. and of course it is very close to Waihi mines just sold to OGC. May be one day they will take over NTL . There are some nice guides showing photos of the old 1900 workings, some of which are still around .

What we know is in the 16 June 2016 announcement (http://nzx.com/companies/NTL/announcements/284172) - Amer wants a 70% share and there is a non binding MOU to look into this further. At some point the details of the offer will need to come out and then it is up to current shareholders if they agree or not. All takeovers code and overseas investment criteria will need to be met.

At this stage the offer includes 'cash subscription' and 'profit underwrites over a 3-year period'. The recent well supported CR demonstrates we really don't need the former, and if the bulk sampling comes back anywhere near what the surveying indicates is there, then it is quite possible we won't need the latter either.

Which begs the question - why would current shareholders want in on this deal unless the price was substantially higher than it is now? Why should another company (doesn't matter if foreign or not) swoop in after years of loyal support from shareholders and reap the biggest profit?

NTL does not have a majority shareholder so no one person or group can make this occur (http://www.business.govt.nz/companies/app/ui/pages/companies/276623/shareholdings).

[Yoda]

Thanks Antipodean, it will be interesting to see how things turn out. I agree with you.

[Landyman]

Thanks Antipodean, it will be interesting to see how things turn out. I agree with you.

Agree. Given that HGD/NTL have managed to keep themselves afloat for long enough to (almost) become a producer, then the AMER money doesnt seem necessary. For me it could still be a positive, if AMER want in, then they will need to offer/pay a fair market price (which wouldnt have been the case if NTL were about to fail), so share holders could potential recognise their gains sooner rather than later.

What that fair market price is today, well, lets see.

[digger]

Agree. Given that HGD/NTL have managed to keep themselves afloat for long enough to (almost) become a producer, then the AMER money doesnt seem necessary. For me it could still be a positive, if AMER want in, then they will need to offer/pay a fair market price (which wouldnt have been the case if NTL were about to fail), so share holders could potential recognise their gains sooner rather than later.

What that fair market price is today, well, lets see.

What I do mot like about the AMER supposed arrangement was where AMER were guaranteed a profit for so many years. Who to hell do they think there are ./ none of the rest of us are guaranteed a profit. So on that count I would say to hell with them.

[Absolute144]

What I do mot like about the AMER supposed arrangement was where AMER were guaranteed a profit for so many years. Who to hell do they think there are ./ none of the rest of us are guaranteed a profit. So on that count I would say to hell with them.

Me too. I actually misread it initially and thought Amer was going to guarantee ntl profit , but its the other way around so ill definitely be voting NO! To that.

[cammo]

Ok so are we going to join hands and form a league of minor investors that have a more substantial say? couple of shares im in at the moment are forming these and have an elected frontman to fight against takeover bids etc.

[Antipodean]

What I do mot like about the AMER supposed arrangement was where AMER were guaranteed a profit for so many years. Who to hell do they think there are ./ none of the rest of us are guaranteed a profit. So on that count I would say to hell with them.

"The signed term sheet proposes Amer acquire a controlling stake of around 70% in New Talisman in return for a cash subscription and guaranteed cash profit underwrites over a 3-year period."

I read it the other way around - that AMER would underwrite a guaranteed cash profit over the three year period. A company wanting a 70% stake has to bring more than just cash to the table - so this would be the other incentive. It could do this through extra cash injections, guaranteed sales to its other companies etc.

It does not make sense in reverse.

[jonu]

"The signed term sheet proposes Amer acquire a controlling stake of around 70% in New Talisman in return for a cash subscription and guaranteed cash profit underwrites over a 3-year period."

I read it the other way around - that AMER would underwrite a guaranteed cash profit over the three year period. A company wanting a 70% stake has to bring more than just cash to the table - so this would be the other incentive. It could do this through extra cash injections, guaranteed sales to its other companies etc.

It does not make sense in reverse.

That was my reading of it too

[digger]

"The signed term sheet proposes Amer acquire a controlling stake of around 70% in New Talisman in return for a cash subscription and guaranteed cash profit underwrites over a 3-year period."

I read it the other way around - that AMER would underwrite a guaranteed cash profit over the three year period. A company wanting a 70% stake has to bring more than just cash to the table - so this would be the other incentive. It could do this through extra cash injections, guaranteed sales to its other companies etc.

It does not make sense in reverse.

I see what you mean. It could be that but for sure whatever has to be cleared up with no room for confusion.

[Landyman]

I see what you mean. It could be that but for sure whatever has to be cleared up with no room for confusion.

Im happy to email Richard Justice and ask, if no one else has already?

Wow, response received from the top, Matthew Hill. His reply was that it was clear in the announcement - which means we are all stupid ;-)

Either way, I think the guarantee is from AMER to NTL - wouldnt make sense the other way.

[Hawkeye]

I see NBR wrote an article on these guys its behind a paywall but the title seems positive
"Mining minnow New Talisman promises the gold’s coming soon (http://www.nbr.co.nz/article/mining-minnow-new-talisman-promises-gold-coming-soon-p-191700)"

[Stumpynuts]

I see NBR wrote an article on these guys its behind a paywall but the title seems positive
"Mining minnow New Talisman promises the gold’s coming soon (http://www.nbr.co.nz/article/mining-minnow-new-talisman-promises-gold-coming-soon-p-191700)"


Above news article is now readable in full, no longer behind the paywall.

[whatsup]

No its not now, how can we read this?

[Stumpynuts]

No its not now, how can we read this?


“All that glisters is not gold,” warned wise man William Shakespeare 420 years ago in The Merchant of Venice, a snappy little parable that involves a merchant who squanders his estate and defaults on the large amount of money he owes.

New Talisman Gold Mine’s [NZX: NTL] shareholders are fervidly anticipating that all that glisters does in fact turn out to be gold – they’ve been waiting long enough.

The mining minnow has had a run of tough luck, as Shoeshine charitably sees it, since it listed in 1986 to acquire prime gold areas in the Coromandel.

New Talisman, as it is now, grew out of Heritage Gold in 2012, shrugging off projects in Mongolia and Papua New Guinea to focus solely on the Talisman prospect near Paeroa.

This prospect had been mined on and off for more than 100 years from the 1880s, producing over its operating life upwards of one million ounces of gold and three million ounces of silver – making it New Zealand’s second most productive gold mine. Funding dried up in the early 1990 s and the work stopped.

New Talisman expects the mine to still yield between 200-220oz of gold a month at an on-mine cost of $900 an ounce, while the current market price of gold is more than $2000.

The company’s October 2012 prospectus indicated mining would start mid-2014 but a couple of years later and more than a few attempts at capital raising, a pick-axe is yet to be swung.

Part of the delay came from fighting off a legal challenge from a local anti-mining group (the mine sits on conservation land) to have the council’s resource consent judicially reviewed. The group eventually withdrew its application last year.

But the company has also had trouble pinning down funding sources, including from two Chinese investor groups that called off heads of agreements at the eleventh hour.

Last month it signed another non-binding agreement with Shenzhen-based Amer International for 70% of the company in return for cash and guaranteed profit underwrites for three years.

“We’re very keen to progress discussions for them to take a position in the company. It is not over yet, that matter is wide open and we’re looking to progress it with some urgency,” says New Talisman chairman Murray McKee, who has served on the board for 20 years.

He would not give an indication of when this might be set in stone. “New Talisman is a small company and not experienced enough in working through these arrangements with offshore investors to put a date on it now.”

Shoeshine hopes this doesn’t go down the plughole along with the other potential Chinese funding deals.

There is a trickle of money to keep the company afloat, though. Last week, the company announced it had raised $4.69 million in a rights issue – it had hoped to raise up to $12.26 million – with the shortfall showing fewer than half of the shares for sale were bought by investors.

The company intends to use this money for bulk sampling – including from the enigmatically-named Mystery Vein – which would let it complete a feasibility study and also provide some cash flow, as it would involve extracting about 600 tonnes of rock a month at an average 10 grams of gold a tonne.

Optimistic
Mr McKee says the green button has been pressed on the bulk sampling programme and there might be enough left over for further exploration. “We’re very confident the funds raised will be more than sufficient to complete that programme.”

It also signed a 20% joint venture last month to explore the neighbouring Rahu mine with Newcrest Mining, which has a five-year exploration permit.

Mr McKee puts the reluctance of the 1900 mainly New Zealand-and-Australia-based shareholders to plug more money into the company down to antipathy towards the resources sector generally.

“There has been a huge reduction in prices for coal, oil and petroleum and that has affected the mining sector’s ability to raise money in the market. We think our result is absolutely extraordinary and a real sign of confidence on behalf of our shareholders who took up their rights.”

However, not all the comments from the market are quite so laudatory, with some anonomous commentators questioning how proceeds from previous capital raisings have been allocated.

The company, which increased its loss by 450% in 2016 to -$2.8 million, expects actual mining to start in 2018.

But NZ Shareholders Association chairman John Hawkins urges caution. “With these struggling start-ups, it always has to be caveat emptor.

“Don’t invest in very early stage companies like this with money that you cannot afford to lose as they are relatively high risk, with many things that can go wrong between setting out and actually generating income. Many of these issues may be beyond the control of the company.”

The board says the company is at a pivotal point in its history and shareholders will be rewarded for their patience. “We’re 100% confident we’ll be pulling it all out of the mine within months. Within months, not years, that’s for sure,” promises Mr McKee.

Let’s hope, for the sake of the shareholders at least, that this gold glisters brightly soon.

[jonu]

Quite a cynical article in the NBR. Some of the comments don't reflect the positivity of the post cap raising situation even though they discuss it. NTL being tainted by its history I guess, but it seems shallow analysis to me.

[Yoda]

Thanks Stumpynuts
Im not sure that is worth paying for. Why would they put such non de script comments behind a pay wall? Reading through the last few yrs of half yearly reports, it says the same thing. They expected to bulk sample in 2014 , so they are 2 yrs behind plan.... Hope they get the funds required. Do or die maybe .

holding a few mil only....

[Stumpynuts]

Thanks Stumpynuts
Im not sure that is worth paying for. Why would they put such non de script comments behind a pay wall? Reading through the last few yrs of half yearly reports, it says the same thing. They expected to bulk sample in 2014 , so they are 2 yrs behind plan.... Hope they get the funds required. Do or die maybe .

holding a few mil only....


I didn't pay for the article, I was reading while at work so can only assume my work has paid subscription for NBR?

The anti-mining groups put development behind as well remember.
Who knows, being delayed may be a blessing in disguise if world markets ever decide to turn to custard over next few years and investors rush to gold stocks

[Landyman]

Hmmm, bit of a sell down today.

NTL have 3 months to place the unclaimed shares - does it have to be at 0.5c? If so, makes sense to sell out, and buy back. Possible, sounds to simple to be real.

[Landyman]

And there we have it, seems someone may have known the announcement was coming and dumped on the market before it was public knowledge. Well done to that person



This shortfall offer allows for up to 1,547,632,243 fully paid ordinary
shares (Shortfall Shares) to be issued at the same price as the Rights Issue
(being AU$0.005 or NZ $0.005 per Shortfall Share).

Acceptances and cleared funds must be received by no later than Friday, 12
August 2016 (so that allotment can occur by Wednesday August 17th 2016).
Although Shortfall Shares may be allocated to new shareholders, preference
will be shown to existing Eligible Shareholders who participated in the
Rights Issue and who are supportive of New Talisman's long term goals, in a
manner that is equitable and in the best interests of New Talisman. To the
extent the offer of Shortfall Shares is oversubscribed, New Talisman will
allocate the Shortfall Shares, at its discretion, in a manner consistent with
this approach. Funds which are not accepted will be refunded in a manner
consistent with the Rights Issue.

[Landyman]

Wish I had some ASX, watch them disappear 26m on offer at 0.6 cent BUY

[Landyman]

I wonder if NTL have any "more" good news to roll out to get some interest in the shortfall shares?

[chippy52]

My application is all ready to be sent

[Yoda]

Just got home from a day at karangahake mountain . Too cloudy to get to the top but great to see the 1900's old mine shafts and took torch to go in a few old shafts . We drove up Crown Rd but the road got to rough to find the NT MINE entrance
To think they got 4000000 onz out of there. At todays gold price that is $7,000,000,000 nzd over 30-40 yrs with pick and shovels ..... Yes i am going to buy more.

[Hawkeye]

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11683323

Hope the driver is ok.
This could effect the red tape for reopening the mine.

[Antipodean]

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11683323

Hope the driver is ok.
This could effect the red tape for reopening the mine.

Sadly he is not (http://www.stuff.co.nz/business/industries/82597670/rescue-operation-underway-to-rescue-trapped-miner-in-waihi)

However NTL has all permits already - unsure how this could affect re opening.

[jonu]

Have just put in my funds and application for the shortfall. Could only muster another 1500000 shares (all cashflow would allow:( )

[Flugenbear]

Me too....18000000...
I have faith!

[Snow Leopard]

Me too....18000000...
I have faith!

18,000,000 shares at $0.005 [0.5c] is $90,000.

That is a lot of faith (and 0.5% of the expanded company)

Best Wishes
Paper Tiger

[Rocket]

Just emailed my form away too, another top up to my holding. The company should be in a really strong position now to go ahead with the mine development without any cash issues, hopefully the bulk sampling program will bring some good news and rewards for us holders who have put in the cash.

[Flugenbear]

18,000,000 shares at $0.005 [0.5c] is $90,000.

That is a lot of faith (and 0.5% of the expanded company)

Best Wishes
Paper Tiger

Yes true, PT
I'm not kidding myself, I know it's a risky investment, no doubt about that.
But I think the risks are less than before. Namely:
- Consents mostly in place
- Finally a reasonable amount of cash on hand to get things underway
Also the fact the CEO took up his full entitlement at the last capital raising was positive. That represented 1 years salary what NTL pay him.
Other positives:
- Binding agreement with Newcrest over Rahu
- MOU with Amer - although we have no idea what this might lead to, I think it's only a positive thing.

And still the capital raising is pretty much at an all time low...

I'm pretty new into NTL but have watched from the sidelines for awhile, and I think things are about as positive as they ever have been.

Best of luck to all holding....with this type of investment you need some.

[gmatt]

Yes true, PT
I'm not kidding myself, I know it's a risky investment, no doubt about that.
But I think the risks are less than before. Namely:
- Consents mostly in place
- Finally a reasonable amount of cash on hand to get things underway
Also the fact the CEO took up his full entitlement at the last capital raising was positive. That represented 1 years salary what NTL pay him.
Other positives:
- Binding agreement with Newcrest over Rahu
- MOU with Amer - although we have no idea what this might lead to, I think it's only a positive thing.

And still the capital raising is pretty much at an all time low...

I'm pretty new into NTL but have watched from the sidelines for awhile, and I think things are about as positive as they ever have been.

Best of luck to all holding....with this type of investment you need some.


Yes, I also think things are more positive than ever before ..... I will also hold 18 mil after shortfall .... be very interesting to see how the Amer situation resolves.

[Stumpynuts]

Yes, I also think things are more positive than ever before ..... I will also hold 18 mil after shortfall .... be very interesting to see how the Amer situation resolves.


According to one of the posts on HotCopper we're just waiting for the world's financial markets to meltdown (If likely) and AMER has foreseen this coming a long time ago, hence they want such a large stake now before everybody else rushes to gold and junior gold stocks.

[Stock Rooster]

Can someone explain to me directions on how to reach the mine entrance from the Karangahake car park???

Don't mind a bit of a trek as heard the road is still quite rough... Thinking of going for a weekend drive next week when in Auckland and hopefully grab some snaps

Thanks

[Stock Rooster]

I have had a look at google maps and I have a feeling the new access will be off the end of Crown Hill Road and I will be looking for roadworks and upgrades in this area...

Hopefully someone can confirm this for me and I can get some good photographs for all holders

[Yoda]

I have had a look at google maps and I have a feeling the new access will be off the end of Crown Hill Road and I will be looking for roadworks and upgrades in this area...

Hopefully someone can confirm this for me and I can get some good photographs for all holders
We went a few weeks ago, but there are are 3 or 4 gravel tracks at the end, so we didn't venture any further. I couldn't figure it out by google earth...... Best of luck
try the windows walk nearby, lovely on a nice day , but take a torch to go through the old mines. We thought we might take a walk to the top of the mountain next week.
As for SP, I THINK WE SHOULD SEE SOME UPWARD MOVEMENT now the 12th has passed and there are no more cheap shares on offer . $0.006 are being eaten away on friday, so see what happens by the end of the month .

[Stock Rooster]

(Kiwi readers please forgive the well known local facts!!)

Site Reccy:

Left Auckland at lunch time and its a fairly easy 1 hour drive from Auckland Airport.

Was with other family so arrived and did the two main tourist walk loops that take approximately 1 hour each. These are based around the intersection of the Waitawheta and Ohinemuri rivers and are predominately on the Waihi side of Karangahake Mountain.

Its an awesome day out and shows how easily underground mines can be reintegrated back into the environment and actually leave an attraction for the area. It leaves you in awe of the effort they put in to cut the roading and train tracks into the area before you even think about all the mining tunnels they carved out. I am sure NTL will leave their site in good shape and probably add another attraction to the area in the future.

Some of the maps show how the tourist area is only a tiny part of the actual historical mines and I cant see any impact on this whatsoever once bulk sampling begins...

Once we had finished our walks and had a snack I went to try and find the mine entrance where the trucks will run to and from. The bridge that crosses the river and leads to Karangahake mountain is on the Paeroa side of the mountain (opposite to the main tourist area) and is a one way bridge. This is Crown Hill Road.

This road only goes about 200 metres before turning into a gravel road... The road is of quite good quality and about .7 the width of a normal highway. The road lead to a locked gate which looks to be under the control of the department of conservation (DOC). You can go forward from here on foot or in vehicle if you have been lucky enough to have been granted a key.

If I was alone I would have pushed on but with all the recent rain it was definitely gumboot material on the other side of the gate.. If heavy trucks and machinery are going to move through here it will need a modest upgrade that won't break the bank..

If this is not the route to the main entrance or very close I would be surprised as there are probably about a dozen properties on this route and quite a few have signs protesting the reinstatement of the mine. It was a reminder of the political risk (perceived or real) with this investment and that some people or funds simply wont invest until we get to the first pour stage or even get consents for full scale mining instead of bulk sampling... Hence leaving more potential profit for those willing to invest now!!!

***********

In a nutshell left with a lot of cool pictures of the historical mines and structures but failed in my mission to find the portal which will be used as the primary entrance by NTL moving forward... Will have to go back for the grand opening!!!

[gmatt]

Good post .... thanks ....... I'd certainly love the chance to check out the mine if they ever offer shareholders the opportunity.

[digger]

Good post .... thanks ....... I'd certainly love the chance to check out the mine if they ever offer shareholders the opportunity.


Going into the mine is rather more complicated than we are making out here. It is all to do with healthy and safety. I have been into a very small part of it two years ago. I walked between two miners one who was Wayne the mine manager. Things have got more difficult since then so i doubt you will now get access,. It is certainly not something the company is encourage.

[digger]

I have made a major investment in the shortfall so together with my current holding will be a major shareholder. M Hill emailed me on Friday to say thanks for the trust and support in the company.Now lets get things straight This money imput is because I believe there is a very good chance of making money out of this investment. Their is nothing lofty about it.
M Hill said the downside of the shortfall is that directors can not take part in it without prior Shareholder approval,and it is to this end that I am commenting here.

On 14th of Sept we have our AGM in Auckland and I intend to put forward the proposal that we shareholders give approval for directors to take up the same rights to the shortfall that we shareholders have enjoyed and at the same price of point 5 of a cent per share. Again there is nothing lofty in this . All my top investments had in common that the CEO and directors had skin on the table.

There are a number of you posters that have 1million or up to 18 and maybe more who I would like to hear from. These sums can quickly add up.

I believe this proposal should come from shareholders and not from Management . In short we need them in and they should not have to ask.
Cheers

[Yoda]

I have made a major investment in the shortfall so together with my current holding will be a major shareholder. M Hill emailed me on Friday to say thanks for the trust and support in the company.Now lets get things straight This money imput is because I believe there is a very good chance of making money out of this investment. Their is nothing lofty about it.
M Hill said the downside of the shortfall is that directors can not take part in it without prior Shareholder approval,and it is to this end that I am commenting here.

On 14th of Sept we have our AGM in Auckland and I intend to put forward the proposal that we shareholders give approval for directors to take up the same rights to the shortfall that we shareholders have enjoyed and at the same price of point 5 of a cent per share. Again there is nothing lofty in this . All my top investments had in common that the CEO and directors had skin on the table.

There are a number of you posters that have 1million or up to 18 and maybe more who I would like to hear from. These sums can quickly add up.

I believe this proposal should come from shareholders and not from Management . In short we need them in and they should not have to ask.
Cheers

Hi digger
I have 2 mil currently.
i am surprised that they haven't got shares already, and i have no problem with them buying shares at the same price ,in fact i think they should have to do a good job...isn,t it called incentive ..?

[Rocket]

Matt Hill holds approx 42mil himself, under various trusts and entities the Hill family has somewhere in the region of 110m shares, quite a bit of skin in the game!

[Rocket]

I don't have any issue with them putting in more cash and buying more, can only be beneficial for the confidence of current holders and potential holders. Can you do private messages on here digger?

[Flugenbear]

Digger, totally support this. I'll hold about 22 million.

[chippy52]

I wasn't aware that this was the case. But fully support their participation.

[digger]

True Matt Hill holds 42 million as he bought some in the previous cash {.8 cent] issue and took up his full rights in this issue. Directors are though prevented from taking up short fall now unless they get shareholders approval.. I would just much prefer this short fall go to the directors than be left there for institutions not involved in NTL getting them on the cheap. I believe that all outsiders or if you like non current holders should have to buy in as we all did.
Will be emailing the company regarding this matter but beforehand wanted the general feeling here.

[jonu]

Hi Digger. I will hold 9 million after the shortfall. I'm supportive of the directors being able to take part in the shortfall

[Blue Horseshoe]

Yes Digger, 100% behind yor proposal.

[mistymountain]

Holding 2.2 / support your proposal.

Better than a pay rise as discussed on Hot Copper . Directors have more skin in game.

Cheers

[Chippie]

Holding just over 4m shares. 100% with you Digger

[YoungBuck]

4.4 mil. I'm in

[Stock Rooster]

"My 2 cents"

I would have been happy if Matt HILL was entitled and there was an announcement that he had brought up $1,000,000 worth of new shares in the shortfall... And I am all for management and employees having major stakes in companies of this nature..

But I hope there is another solution because I was really hoping the rights issue would be dead and buried well before the annual meeting and we would all be debating the proposal by AMER, production goals and Rahu on the back of a rising share price...

I am very impressed with the patience and loyalty by long term holders... The truth is the share price is going nowhere until the shortfall is resolved..

In short I support M HILL purchasing as many shares under the shortfall as he desires but I am against the process dragging out any further than it needs too

Thanks

[digger]

Well I have got an update from Matt Hill. Looks like I should have asked him first before posting here.But good to get all your comments anyways.

Firstly the shortfall completed on Friday last so it is over and dusted. Any change to this would require a AGM remit and that would get complicated as the AGM date would have to be put back and that is just not going to happen.

While Directors could not take part in the shortfall it seems that associated companies and kin can [or so I am thinking]


In total there is a little more than 200 million shares locked up here which is double my holding so my interest in getting director skin on the table seems to be already achieved.


Thanks all for your support and comments.
Hope to see as many of you as possible at the AGM. Warning I am deaf so only just make out what is being said sometimes. Like displayed chart Management if you are reading
Cheers all and thanks again

[Yoda]

Interesting today to see all the 0.006 sellers running fo the hills before 9.30 am . And then all sold, so onwards and upwards ...... I think some might have been selling at 0.006 and hoping to buy in the shortfall at 0.005 before fridays deadline. Now thats gone, no point in selling.
just a thought.....

[Hawkeye]

Sadly he is not (http://www.stuff.co.nz/business/industries/82597670/rescue-operation-underway-to-rescue-trapped-miner-in-waihi)

However NTL has all permits already - unsure how this could affect re opening.



I only meant that even with consents already granted new OSH rules are popping up everywhere right now and they don't care how many hoops you have already jumped through already. But maybe it won't be an issue.

I can't help but notice there are a lot of holders of this stock on this forum, even the usual negative nancies have bought in. I would like to get a feel of what you all think this stock could be worth in 6months and then 1year from now. Are you expecting to flick it off in the medium term, or hold for a longer haul?

Ta Hawkeye

[gmatt]

My full shortfall allocation now showing on Computershare ....... a lot of "buys" now at .006 ...... bet they're wishing they'd bought last week!!

[Kees]

strong support for NTL today selling 0.8

[Yoda]

https://www.nzx.com/companies/NTL/announcements/287377
market looking favourably on this ?

[Landyman]

Seems to put a different spin on Directors/Board being able to buy into the shortfall. Allowing them to buy in at 0.5c seems a bit generous. I guess they would have to buy at market rates? Or else, are we all going to get another crack at them at 0.5c

[digger]

Seems to put a different spin on Directors/Board being able to buy into the shortfall. Allowing them to buy in at 0.5c seems a bit generous. I guess they would have to buy at market rates? Or else, are we all going to get another crack at them at 0.5c

Landyman, What are you talking about? Your comments seem to be following some other info . What is it?

[Landyman]

Landyman, What are you talking about? Your comments seem to be following some other info . What is it?

I might have gone crazy. Just saw the earlier commentary about the shortfall, and the need for current shareholders approval required if they big chiefs wanted to invest more. Given the recent issue, then the subsequent shortfall were all issued at 0.5c, then I jumped to conclusion that they would want them at 0.5c too. With SP now above that, I want more too!

[digger]

I might have gone crazy. Just saw the earlier commentary about the shortfall, and the need for current shareholders approval required if they big chiefs wanted to invest more. Given the recent issue, then the subsequent shortfall were all issued at 0.5c, then I jumped to conclusion that they would want them at 0.5c too. With SP now above that, I want more too!

OK got that. I was wondering if I had missed something. This .5 cent shortfall is now done and dusted according to what I have been told by Matt hill

[Maybehobbi]

See today's announcement regarding the change of substantial shareholding. Could explain where some of the shortfall went.

[mistymountain]

A Perfect Storm now brewing for NTL.... in a Positive Way.

Two new Directors announced today.

And:

http://www.gold.org/supply-and-demand/gold-demand-trends

Note the significant growth in Gold as an investment; not the fickle jewellery market.

I see no end to short / medium term global money printing and low to negative interest rates. This could ramp up demand for physical gold.

[gmatt]

New directors have experience in acquisitions and mergers ....... looking forward to announcements about Amer, hopefully before the AGM

[digger]

New directors have experience in acquisitions and mergers ....... looking forward to announcements about Amer, hopefully before the AGM

For some reason the old saying "be careful what you wish for" seems to apply here. Maybe nothing will happen. In fact my thinking is that other companies may well do nil until NTL gets on and starts getting the gold out. I look forward to the very long awaited bulk sampling we have heard about for so many years. The company now has the money and the court case is behind us so what is the holdup?
This years AGM is on 14th Sept just around the corner. Look forward to it.

[gmatt]

For some reason the old saying "be careful what you wish for" seems to apply here. Maybe nothing will happen. In fact my thinking is that other companies may well do nil until NTL gets on and starts getting the gold out. I look forward to the very long awaited bulk sampling we have heard about for so many years. The company now has the money and the court case is behind us so what is the holdup?
This years AGM is on 14th Sept just around the corner. Look forward to it.

Yeah I don't think the Amer thing will come to anything ...... but it's a distraction I'd like out of the way. NTL have said 6 months once they had the money for bulk sampling to begin, but I think that's pushing it ...... roading, ventilation etc to do .... guess the AGM will tell all.
I'm surprised at the number of holders who are trying to unload today ..... guess some are trying to sell shares they bought in the shortfall as a short-term trade, but I'm optimistic and can only see the SP going up!!

[Landyman]

Is it possible that NTL will do a second "shortfall" issue? Given that they were trying to raise over $10m, and seem to have collected about half, can they legally pass the cap around again?

I say this, as NTL is on the upswing (by all accounts), with cash in the bank, and some hungry investors, another $1-2 million in the coffers would either negate the need for the AMER deal, or put them in an even stronger bargaining position.

Interesting times

[digger]

Is it possible that NTL will do a second "shortfall" issue? Given that they were trying to raise over $10m, and seem to have collected about half, can they legally pass the cap around again?

I say this, as NTL is on the upswing (by all accounts), with cash in the bank, and some hungry investors, another $1-2 million in the coffers would either negate the need for the AMER deal, or put them in an even stronger bargaining position.

Interesting times

I have an email from Mat Hill saying the shortfall is closed,as of today closed about a week ago. It can only be reopen by the AGM and then need ASX aproval.. So I understand it is done and dusted. To pass the hat around again would take another cash issue completlly new to this one just finished.

[gmatt]

http://www.nzresources.com/showarticle.aspx?id=9083

Someone posted this on HotCopper ............ very interesting

http://www.nzresources.com/attachments/9083/NTL_2016_AUSIMM_lr.pdf

[Yoda]

http://www.nzresources.com/showarticle.aspx?id=9083

Someone posted this on HotCopper ............ very interesting

http://www.nzresources.com/attachments/9083/NTL_2016_AUSIMM_lr.pdf
Thanks for posting .
I have 6% of my holdings here, but may increase. Risky but feeling better as time goes on .
I go past Karangahake every month or so, and it would be interesting to see it develop.
SP doesn't seem to go below .006 after the offer.
penny shares can make or break, so better be sensible. :-)
Waihi Martha Mine nearby owned by OGC.... is really massive, and a good trip to take around it.

[jonu]

Anyone attending the AGM? I'd love to but can't get there on the day

[gmatt]

Anyone attending the AGM? I'd love to but can't get there on the day

Yes, I will be attending ............. guess there'll also be a few protestors telling us how we should be thinking!

[jonu]

I would be hoping for deeper info as to where Amer are at. Are they going to progress as per original plan or has the reasonably successful cap raising made it too expensive?

[gmatt]

I would be hoping for deeper info as to where Amer are at. Are they going to progress as per original plan or has the reasonably successful cap raising made it too expensive?

The link above dated 9/9/16 says "discussions are still in the melting pot" as regards Amer ....... and I guess that's what we'll be told at the AGM, but hopefully I'm wrong and we'll be given more detail ...... what we will be told is how work on the access road, ventilation etc is progressing and when they expect to start digging it out of the ground.

[Flugenbear]

I would be hoping for deeper info as to where Amer are at. Are they going to progress as per original plan or has the reasonably successful cap raising made it too expensive?

It would be nice to get detailed info but don't hold your breath.
They'll have to announce it to the market if there is anything, so I'm sure it will be along the lines of 'discussions are still in progress...'
But an update on time frames for bulk sampling and to hear everything is on track as planned would be nice...

[Paint it Black]

It would be nice to get detailed info but don't hold your breath.
They'll have to announce it to the market if there is anything, so I'm sure it will be along the lines of 'discussions are still in progress...'
But an update on time frames for bulk sampling and to hear everything is on track as planned would be nice...

I cannot make it this year so would appreciate receiving any feedback especially on the programme to actually deliver on the bulk sampling. I'm a little concerned about the $200K salaries the directors are asking for. I'd rather see a rise to $150K and another $50K if certain KPI's are achieved or some options issued. $200K is fine if the show really gets on road and the SP is up to 1.5c.

[Stumpynuts]

I cannot make it this year so would appreciate receiving any feedback especially on the programme to actually deliver on the bulk sampling. I'm a little concerned about the $200K salaries the directors are asking for. I'd rather see a rise to $150K and another $50K if certain KPI's are achieved or some options issued. $200K is fine if the show really gets on road and the SP is up to 1.5c.

I'm one who doesn't mind the salary increase going up to $200k.
It's the total salary pool altogether, not total salary per director.

[Yoda]

https://www.nzx.com/companies/NTL/announcements/288984

[Kees]

https://www.nzx.com/companies/NTL/announcements/288984

Amer still on the hook meeting tomorrow No sale unless share holders are looked after meaning a lot more than today's price.

[Kees]

Amer still on the hook meeting tomorrow No sale unless share holders are looked after meaning a lot more than today's price.

http://www.nzresources.com/showarticle.aspx?id=9108

[jonu]

http://www.nzresources.com/showarticle.aspx?id=9108

It's behind a paywall Kees. Headline implies further negotiations with Amer?

[Kees]

It's behind a paywall Kees. Headline implies further negotiations with Amer?

Yes it is and I have no access either maybe some one has and can give further info ?

[gmatt]

At the AGM they said they were in almost daily contact with Amer ....... directors had an afternoon meeting with Amer yesterday 15/9/16 ...... but directors were very vague in telling us anything further other than that they intended to do the best for shareholders ...... so who knows?

[Stumpynuts]

Yes it is and I have no access either maybe some one has and can give further info ?

Here's the cached version.

http://webcache.googleusercontent.com/search?q=cache:http://www.nzresources.com/showarticle.aspx?id=9108


Nothing special from what was already mentioned in AGM.

[Stock Rooster]

Very Quiet Here...Some random thoughts

1. Production

Is anyone wanting to go on record as a prediction to first gold pour???

- Extended capital raise ended at 17th August 2016
- NTL promoted that they would be up and running within 6 months

I would have hoped the red tape traffic plan would have been signed off by now and we would be getting monthly progress announcements... A lot to get done which adds to risk of delay (Health and Safety, HR, Roading, Equipment purchase and install, Inspections etc)... Some of these tasks will be sequential in nature but I really hope they outsource the key functions and get there quicker rather than Matt HILL battling away with limited staff and pushing back the date..

2. Catalyst for Share Price Movements

Upwards:

We generate a nice big gold bar or some sales contracts
Or
AMER takes a cornerstone stake..
Or
They drill Rahu before we can complete this mission and hit paydirt


Downwards:

Company management pushes back the 6 month time-frame
Or
Collapse in Gold price
Or
NZ Political and Legal Risk

If we push out production we may see a few jump ship... The company has been given the capital to get the job done so another delay would not look good... However NTL holders have amazing patience, loyalty and commitment as shown in the capital raise..

Conclusion

To sum up... I am not looking for or expecting any short term gains although I'd like to be surprised... I would prefer to collect a 100% return dividend or a few ounces of subsidised gold annually!!

I believe there may be a slight delay (not unusual in any development) which may present a buying opportunity if you have the courage and belief in management to deliver

[youngatheart]

ex-Sharetrader member Moosie has kindly offered his recent pics of his tour to the NTL mine...
http://hotcopper.com.au/threads/ntl-photos-of-talisman.2915018/?post_id=19334174#.V-xo4tJzaUk

You'll need to become a member of Hot Copper to see the full thread.

[gmatt]

Very Quiet Here...Some random thoughts

1. Production

Is anyone wanting to go on record as a prediction to first gold pour???

- Extended capital raise ended at 17th August 2016
- NTL promoted that they would be up and running within 6 months

I would have hoped the red tape traffic plan would have been signed off by now and we would be getting monthly progress announcements... A lot to get done which adds to risk of delay (Health and Safety, HR, Roading, Equipment purchase and install, Inspections etc)... Some of these tasks will be sequential in nature but I really hope they outsource the key functions and get there quicker rather than Matt HILL battling away with limited staff and pushing back the date..

2. Catalyst for Share Price Movements

Upwards:

We generate a nice big gold bar or some sales contracts
Or
AMER takes a cornerstone stake..
Or
They drill Rahu before we can complete this mission and hit paydirt


Downwards:

Company management pushes back the 6 month time-frame
Or
Collapse in Gold price
Or
NZ Political and Legal Risk

If we push out production we may see a few jump ship... The company has been given the capital to get the job done so another delay would not look good... However NTL holders have amazing patience, loyalty and commitment as shown in the capital raise..

Conclusion

To sum up... I am not looking for or expecting any short term gains although I'd like to be surprised... I would prefer to collect a 100% return dividend or a few ounces of subsidised gold annually!!

I believe there may be a slight delay (not unusual in any development) which may present a buying opportunity if you have the courage and belief in management to deliver


I agree ...... they now have the capital so get on with the job ...... seems they're not too good at keeping shareholders informed ..... apart from the Quarterly Reports (next one due end of October). I was disappointed with their communication at the AGM.

Think the SP will start moving once we see significant progress .......... roading, ventilation system, etc in place ...... of course production will put it in a different light.

[Flugenbear]

Quarterly report due soon me thinks. I doubt it'll have anything earth shattering, but will be interesting to see if things are on track as previously stated.
Anyone want to venture their opinion on where the gold price is heading?
It's taken a bit of a hit the last few weeks.
Most of what I read is still that their is an uptrend in place which will remain for some time. A pull back to $1200 was on the cards and then a steady increase to $1400 plus by first quarter next year....there's definately differing opinions but the majority seem to be reasonably bullish mid-long term.
Personally I'm still very positive for the future of NTL.

[Absolute144]

Quarterly report due soon me thinks. I doubt it'll have anything earth shattering, but will be interesting to see if things are on track as previously stated.
Anyone want to venture their opinion on where the gold price is heading?
It's taken a bit of a hit the last few weeks.
Most of what I read is still that their is an uptrend in place which will remain for some time. A pull back to $1200 was on the cards and then a steady increase to $1400 plus by first quarter next year....there's definately differing opinions but the majority seem to be reasonably bullish mid-long term.
Personally I'm still very positive for the future of NTL.

I reckon probably still in uptrend. New York comex has upped its shorts on gold to prevent runaway gold price. Its managed , i thought maybe 1400 by the end of this year, but may need to push that out too the end of next year. Anyway, gold movement i think will have less impact on ntl sp than say their market annoucements eg first truckloads ore mined ....

[ddrone]

Updates:
https://www.nzx.com/companies/NTL/announcements/291800
https://www.nzx.com/companies/NTL/announcements/291795

[Yoda]

I thought they were going to get some roading in this year ?

[gmatt]

Yeah ..... it sounds as if it's all under way ...... I guess the road design etc is taking longer than anticipated ..... but I'm more interested in that Amer seem to still be seriously in the picture .......

"NTL is working closely with AMER toward a commercial outcome which the company aims to be well advanced in the coming quarter"

Maybe that'll give the SP a good bounce.

[mistymountain]

Chipping away.

Glacial but inexorably moving in the right direction.

[youngatheart]

Sadly with Christmas just next month and the summer holiday season soon to begin - I can't imagine anyone new being employed to then be paid to have the Stat holidays off - it's very unlikely well see any action on the ground until the new year. Ie say 3 months away!

[gmatt]

Sadly with Christmas just next month and the summer holiday season soon to begin - I can't imagine anyone new being employed to then be paid to have the Stat holidays off - it's very unlikely well see any action on the ground until the new year. Ie say 3 months away!

We won't see any action in the SP until there is action on the ground!! Appreciate there is a lot of design/planning etc to do ...... we participated in the rights issue under the premise of "6 months to production" .... can't see that happening.
Can understand the lack of interest of buyers and also why those of us who spent up big in the rights issue are perhaps trying to reduce holdings.
For one I am disappointed in their lack of communication.

[mistymountain]

Patience can help in the mean time. Here's some light reading: http://truewealthpublishing.asia/gold-silver/the-latest-on-the-islam-world-buying-gold-2/
This expands from a linked post on Hot Copper NTL thread.

[Landyman]

Well, its been a quiet few months on the NTL front, but now have some cash to invest again - NTL here I come!

[gmatt]

Guess we can't be too far away ....... 6 months makes it the end of December .... Quarterly Report due end of January but hopefully they'll provide an update before then.

THunderbirds are Go!

NTL
05/07/2016 14:13
GENERAL
PRICE SENSITIVE
REL: 1413 HRS New Talisman Gold Mines Limite

5th July 2016

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL or NTLOA)

Bulk Sampling Programme
Refurbishment and equipping is expected to take approximately 6 months to
reach the working face at the Mystery Vein Drive. During this time, apart
from installing engineering reticulation services, the company will install
modern support systems in a number of areas, construct a series of
ventilation controls in order to manage the flow of air through the mine
workings and construct the underground water handling system. With these
systems in place production of ore from the Mystery vein through drill and
blast methods can commence.

[whatsup]

All systems go now with the go ahead from DOC etc or am I jumping the gun !

[ddrone]

All systems go now with the go ahead from DOC etc or am I jumping the gun !

Do you have a source you can cite on this?

[Antipodean]

Do you have a source you can cite on this?
From the Preliminary Half Year Report 25/11/2016

"The Department of Conservation has authorised the company to enter and operate on the Talisman Mine permit. Authority to enter and operate is an annual requirement based on the work program filed with the department. The company has also successfully renewed its access agreements for the Talisman Mine"

This isn't the all steam ahead type of announcement we are after though, more of a BAU requirement.

[whatsup]

From the Preliminary Half Year Report 25/11/2016

"The Department of Conservation has authorised the company to enter and operate on the Talisman Mine permit. Authority to enter and operate is an annual requirement based on the work program filed with the department. The company has also successfully renewed its access agreements for the Talisman Mine"

This isn't the all steam ahead type of announcement we are after though, more of a BAU requirement.

small steps often from now on

[Antipodean]

small steps often from now on
Yes I agree, lots of small steps from here. I am looking forward to the next few months with this one.

[Landyman]

And Im back on the NTL bandwagon :-), my expectations are.....low

[Stock Rooster]

Conservative valuation of liquid assets


From NTL reports


Total Shares, Listed Options and Unlisted Options: 2,202,597,371

Current Assets (Cash Only): $6,460,024
Liabilities: $227,971
Liquidation Value: $6,232,053
Burn Rate: Planned expenditure this coming quarter of $556,650 with no expected revenues. Surprisingly development costs ($200,000) less than corporate and administrative costs ($300,000).


Current Cash Backing less liabilities per share and outstanding options: 0.0028


I believe this is a much more realistic margin of safety marker than the 1 cent NTA released by the company but is being eroded daily.


Assumptions: All non current assets written down to zero until gold is poured. Apart from Assets under construction ($7,554,266) they are almost zero anyway.



Questions:


1. If NTL carries Assets under construction at $7.5M and Cash at $6.5M on its books (Everything else doesn't move the dial) for a total of $14M... Does that mean in the eyes of the accountancy firm/ auditor that the company is currently fairly valued at a current market cap of 12.5M????


2. Will the new directors buy any NTL shares on market in the coming months????

[Antipodean]

If you are going to include the 120mil listed options at 2c, then you should include the $2.4mil in cash they would generate if excised. Ditto for the 5-6mil unlisted options.

Otherwise yes, NTA is not the best yardstick for this company.

[gmatt]

New chairman appointed ...... an excellent progressive move.

https://www.nzx.com/companies/NTL/announcements/294135

[Antipodean]

New chairman appointed ...... an excellent progressive move.

https://www.nzx.com/companies/NTL/announcements/294135

Yes, check out his history from LinkedIn, IMG Global page and Wiki. Acknowledging that Murray has done great things for this company this is a very good move for the future. 2017 will be an exciting year.

[mistymountain]

Agreed.

Murray's new role in the team combined with new dynamic leadership evidenced by this:

https://en.wikipedia.org/wiki/Charbel_Nader

should make for an interesting 2017 / 18

[Antipodean]

Was wondering if there could be any more exciting before the year disappears on us. In the annual report (30/06/2016) we have the following noted, and in italics underneath subsequent follow ups I could find little bits of information on.

2016 - Initiate Bulk Sampling Project
05/07/2016 announcement – “Board initiates the bulk sampling/trial mining at Talisman”

2016 – Identify and evaluate additional resources
17/08/2016 - Talisman Deeps announcement

2016 – Site Establishment
05/07/2016 announcement – “[TMC]… to begin construction in Q3 2016… Once the road to the site is upgraded the company will proceed with securing and equipping the mine site…expected to take approximately 6 months to reach the working face at the Mystery Vein Drive.”

31/10/2016 announcement – “[TMC]… preliminary design has been completed and final road design is underway.”

2016 – Initial Mine refurbishment
05/07/2016 announcement – as per Site Establishment

31/10/2016 announcement – “Design of the ventilation airlock…. has been completed.”
“.. also commissioned the preliminary design of the electrical and compressed air reticulation systems.”

2016 – Finalisation of Proposed Newcrest JV
28/06/2016 - Binding agreement announcement

2016 – Rehabilitation to Mystery Vein
05/07/2016 announcement – “Mystery Vein targeted for first ore extraction”

2016 – Development of Mystery Block
05/07/2016 announcement – as per Site Establishment

So possibly nothing further for this year, but pleasing to note everything mentioned for this year has been updated following the annual report. Still feel a little in the dark about what the discussions are with Amer, however note that they should be “well advanced” in the coming quarter (which ends 31/12/2016).

Lots of irons in the fire… next quarterly activities report expected at end of January.

[cammo]

Announcement on their website. Half year report with the answers to all your questions about the future. It's a turtle riding a snail people.

[gmatt]

Announcement on their website. Half year report with the answers to all your questions about the future. It's a turtle riding a snail people.

haha ..... you're right there!! ............. but hopefully this new chairman will get things moving! (or at least release meaningful progress reports)

[Antipodean]

I don't like:

The mention of the traffic management plan continuing to be a time consuming process. From previous announcements this was approved in principle and it was inferred by me that this would be a (relatively) simple process to convert to formal agreement.

Still no concrete details about AMER. If we have plenty of cash in the back... what are they bringing to the party? What is being discussed? Don't like this uncertainty. I appreciate there may be confidential clauses involved in the discussions but sooner or later the shareholder base needs some information and clarity around what is being proposed.

I do like:

The mention of the modelling completion with inclusion of Talisman Deeps targeted for end (or about the end...) of March 2017 quarter. Target date set.

Confirmation of the initiation of the bulk sampling project and site works.

Rahu work underway, with Newcrest starting to spend some $$ brings the JV closer.

NZPM variation expected shortly.