Post note: option docs in the bin
Over and out till after the AGM and the Election
Lets see if that brings some certainty and a clear path ahead, but obviously at a slower rate now that the new SPP has failed.
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Post note: option docs in the bin
Over and out till after the AGM and the Election
Lets see if that brings some certainty and a clear path ahead, but obviously at a slower rate now that the new SPP has failed.
In all serious, does this last announcement constitute false and misleading information? It blows my mind that they released it. Pertinent sections bolded:
This is a reminder that your listed options expire on Nov 28, 2017.
The options are exercisable at A$0.02 per option to convert into shares. NTL
has determined that it will also accept the New Zealand dollar equivalent
payment, being $NZ0.02165 per option.
*The options are currently "in the money" and NTL shares have consistently
traded in the money for several weeks.
The company currently has a share purchase plan offer underway. NTL
**encourage you to exercise your options, in conjunction with the share
purchase plan and accordingly to return your option exercise form as soon as
possible and by 22 September 2017. An early exercise of options will not
affect any Share Purchase Plan entitlement. If you do not exercise your
options by 22 September, you can still exercise closer to the expiry date 28
November.
Any documentation or payment received after 28 November will not be eligible
to convert to shares as the option will have expired.
If you wish to exercise your options please complete the attached form and
return as directed on the form.
* Factually in-correct at time of publishing. Even if this was correct isn't this mis-leading by nature of the claim given the markets are, by their very nature, volatile?
** This attempts to imply that those exercising options should do so at the same time as exercising their right to buy in the SSP thereby encouraging them to prematurely exercise their options for no other reason than postage costs at the current share price.
As I write this the SP is not 1.5c AUD, equiv to 1.7 NZD.
Disc: Former holder who did not lose their pants.
Don't you feel it could become a rap?
NTL NTL the time is now
You've got options, you're opportunity
Cause your 'in the money'
All that gold in the land of honey
Lets dig it up now, lets get underground
The greens got nothing on us
Cause we're NTL, NTL and the time is now
You've got options, you're opportunity
Cause you're 'in the money'
Ok perhaps I should stop lol
On a more professional note:
Announcement should have been more professional
-First rule of thumb, I find managers who talk about shares prices to be self serving, management should always refrain from discussion share price. Also don't talk about a share price exercising options when several weeks proves nothing, if it was several months that would be a bit more different.
-Use of 'in the money' was too casual
-Their encouraging plead sounds desparate
-Lastly the announcement was border lining on unnecessary, all it should have been was two sentences giving option holders a reminder.
The "we encourage you to excercise your options" is a nice touch that leaves a poor taste in my mouth frankly. Last time I heard that was when someone tried to sell me pyramid schemes.
Misinformation aside, the coercively worded letter is just appalling, screams desperation.... hats off to the lads who ran out the door while it was "in the money"
Possibly an appropriate time to roll out the hounds theory on N.Z. mining minnows.
This jaundiced dog that's been bitten before reckons the big dog's like BHP and the secondary majors on the ASX get the best geologists, engineers and related experts and Kiwi mining minnows get nothing but the leftover scraps. Why would any one that was really good in their field of mining endeavor aspire to work for a penny dreadful doubtfully funded Kiwi minnow ? Just a thought to ponder...
Disc: I regret not getting the popcorn on a little earlier with this one.
I like the rapping. Well done.
It is possible this notice is a response to regular inane questions from option holders wondering how it all works. Hence, at least, some of the detailed content.
Just wait. Many of us have waited a long time ...all of you late catchers can do some too... Once the stuff starts coming out of the hill we will all be smiling. Patience...
Thanks! ^^
It could have been a responses to options holders questions, though in a professional stand point they should always be advising someone go to a financial specialist to advise them on the matter. An investor is expected to know what they are buying and not up to company management to explain it and I doubt that announcement did much to answer anything other than to serve as a reminder.
We need to remember someone is buying all these shares being dumped. $360k so far today on NZX. So someone is buying
Storm in a tea cup, turnover only 20 mill, PEANUTS.
I think a lot out there were in it to make a quick buck
For those that did not enter in at 0.5c and only came in at a higher sp probably knew announcements were coming expecting sp to go up looking for a quick turn around and selling off for profit. These people are now running for the exit after unexpected spp, they are not long term holders.
Warren Buffet seems to ring turn for NTL, be greedy when others are fearful (running for the exit after spp and potential new government)
If it drops more could be a good time to buy
I agree Cammo.
Ideal scenario would have been sell most of my holding at 2.6-2.9 but still be on the register. Then be filling my boots now and have maybe 40% more shares. However was taken by surprise by the SPP. BUT.......
Is there any less gold in the ground? No
Have management outlined how they are going to extract more gold more efficiently? Yes
Let the short term traders win/lose. NTL just announced another 73000 ounces at high grades with a further exploration target with up to 600k ounces at high grades. They have more veins to add to JORC by December.
Can a Green/Labour government stuff them up with schedule 4? No. My understanding is that schedule 4 allows underground mining (not open cast). NTL's ground disturbance is all done, their site established.
NTL have a 25 year mining permit.
Other than the dilution from the SPP the fundamentals are better than ever.
Would I prefer the SP hadn't taken a dive? Of course. But as I'm not selling it is of no immediate concern. Let's see where it sits when the confirmation grades come through from the bulk sampling due to start in December.
I also considered doing as you say and dropping out and back in again.
But the facts remain:
Permit in place
almost half a million ounces now. possibility of over 1m ounces. Its getting fairly esoteric now - theres more than enough gold for a reasonable mine life already and theres more down further once theyre going.
Their timing might be viewed as bad by some scalpers, but we dont know what cards they are holding so cannot evaluate their behaviour yet. AGM may result in some rationalization of this. But nevertheless, we are finally at the precipice of Aurum removal from the mine and the current price is excellent.
From polls, it looks as if greens may not be enough for labour so Im not sure that would work. May need a three way, but you know that one partner always gets favoured in a three way. Starts getting hard, may be easier and more likely that king winnie goes with the blue boys and gets his bow-out as prime minister or finance or some such gig.
not much of an issue, if reds get in theyve got to miraculously build affordable housing and all their other ideas to worry about NTL for quite a while.
Excellent posts you guys and yes best to ride this out in the short term.
At this point and if the sp stays at .18c, is the spp dead?
If there's no funding from the spp will this mean there's a chance of delays in trying to get new funding?