We need to remember someone is buying all these shares being dumped. $360k so far today on NZX. So someone is buying
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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?