NTL - New Talisman Mine - New board & Directors
With the old guard gone from Heritage Gold, and a new ticker for the compacted company interests, I carried out a bit of research a while back and bought some NTL shares.
The main asset for this company is reflected in the name, it's the old Talisman Mine near Waikino. It's not far from Waihi, but the amount of gold at Talisman is not likely to interest Newmont directly. The very rich grades have been mined out apart from one or two newer seams, but of course gold is worth a lot more now. A boutique miner can still do well here I think.
When I started buying shares in Glass Earth, the two companies had about an even Mcap. Not any more, so is NTL a bargain at the moment? Is it a takeover target?
I'm most intrigued that the massive stamper batteries at Waikino were fed from rectangular shafts cut into the hillside at Talisman. The proposal is to use a miniature monorail with specialised carriages to get into the hillside again without a great deal of effort, and bring the good quality ore out with minimal labour. From there it could be processed a little to concentrate it, and then trucked just a few km to the mill at Waihi (assuming Newmont have spare capacity and would entertain this). Not many vehicle movements a day would be required, and there is even a railway for most of the distance, which could perhaps be of use.
All of the area around Talisman was held for a while by Glass Earth Gold, then they relinquished it and Rennison Consolidated (Australian company) took over the permits and more besides. But this company is a real minnow and appears short of cash.
I might be well off target here, but wondered what other shareholders think. A long term investment, perhaps. They deserve a new thread anyway.