Likely a capital raising soon, either at 2 cents in the next few months or a lot higher if the approval comes through, but the current capital likely won't be enough with the unplanned delays and increases in expenses.
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Likely a capital raising soon, either at 2 cents in the next few months or a lot higher if the approval comes through, but the current capital likely won't be enough with the unplanned delays and increases in expenses.
I'm not sure how they have accounted for the $300K placement with Terra Firma or how much of that has been used.
I think a considerable amount of the $272K of admin expenses from the last report was paying out Matt Hill, but I'm not sure of the timing. Board expenses are very low.
I ballpark mining cost of around $280k to get the first 6 ton shipment of concentrate away.
So yep a small cap raise maybe required in the next few months, but I don't think it would only be imminent if they are about to outlay production costs.
If that's the case, I would prefer a small debt facility.
What’s happened today ….yesterday it seemed that share price was heading to .024 but it’s falling
http://nzx-prod-s7fsd7f98s.s3-websit...147/417397.pdf
So the quarterly is attached. Good updates thanks NTL showing good work but unfortunately fairly predictable re DOC delays and the likelihood of another capital raise. At least DOC acknowledge their processing of a straight forward access approval (which is basically a renewal) is unacceptable and undertake to provide a decision in June, The processing route decision will go to the Board in the near future with the possible use of a modular plant. Whether this is a concentrator or full processor is unclear.
It's incredible DOC have taken a year to consider renewal for site access. Something more sinister going on? Someone trying to block it within DOC? I have no idea but imagine how long a full mining permit might take based on this...
The new Minister needs to get the department working in a much more efficient manner.
I really feel for John and the NTL team having done so much good work to potentially being shafted by DOC.
Cash on hand won't last much longer so 100% sure another raise is coming in some form.
Much more clarity in this report which is good to see.
I like the debt facility and it appears like the DOC approval is all but time.
Interesting that they couldn't come to terms on treatment of the concentrate. As mentioned, for many existing operations the small tonnage could be more hassle than its worth.
IMO I see despite DOC's best endeavours to to frustrate the approval process that the gold price has risen 35 % so thanks for the help and Im sure that with the pending possible C R it will be fully accepted.
What numbers/amount are shareholders picking for the capital raise requirements to carry them over until the cashflow covers outgoings?
That's all very well, but will the mine ever get operating, it's going to be another year.
With the debt facility in place I would hope NTL would only need to raise half that amount or less I.e $500k ish.
Effectively they have $1.2M of liquidity at the moment with the bank facility and that's not accounting for the $200K placement with Terra Firma which I'm not sure is accounted for.
Perhaps Terra Firma might be up for another $500k if they have the processing route sorted. But that's being optimistic.
So it's now a year since what was to be the final capital raise. We were also promised we would be mining and cashflow neutral by the end of 2023.
So what has actually been delivered in that time and how much money has been spent?
I just don't buy into DOC sitting on their hands for 12 months. Apparently the company raised this with Shane Jones last year & yet over 4 months later still no approval. Something doesn't sit right.
It was also disappointing to hear that the toll treatment option has fallen through, but apparently there are three other options. We just don't know how realistic those options are.
Personally I don't think the company should tap investors for more money or spend money on mining, even if they do get approval from DOC, until they have a confirmed way of treating the concentrate.
It sounds like there has been plenty of mining going on. To the point where the local Police (who they call their mates) told them to 'beef up' their own security.