NTL - New Talisman Mine - New board & Directors

[Paint it Black]

Quarterly is out....

http://nzx-prod-s7fsd7f98s.s3-websit...841/299002.pdf

Cash raise coming up soon is my guess.

"The beginning of the 2019 calendar saw another busy quarter at the Talisman
mine with great strides being taken to secure access to the BM37 Rise in the
Dubbo Zone area. Following completion of refurbishments and testing of the
face at Mystery the focus this quarter has been on gaining access to Dubbo
and finalising resource consent for pilot plant operations. While the Dubbo
area has been slower to progress than expected the material removed to date
shows significant promise as set out in this report. Over the next quarter
the company will focus on progressing further into Mystery vein extension,
moving ore to the pilot plant for processing and making safe the Dubbo area
in order to commerce sampling of the vein faces."

Possibly but I'm more frustrated they now need a Resource Consent for the pilot plant. Surely this should have been sorted long ago. Equally frustrating is why does the Council actually need one - it's just a pilot plant after all. Any waste can surely be contained and disposed of in a certified landfill. Do they need to go through another RC process with the larger plant? If so hopefully this is also being progressed now? Do we need to wait another 3 months for an update on this? The key processor commissioning date continues to slip.

[whatsup]

Muppets ! what have they been doing all these years.

When will they get thing right, been here a very long time, circa 1986 and nothing changes !!

[steveb]

Muppets ! what have they been doing all these years.

paying themselves with our money!

[haewai]

They've spent far too much $ and time on a processing plant that is too small to actually be useful when a better return would be toll processing. The QR even states ... "commencement of metallurgical testwork to determinerequirements for a higher volume plant"

And they've dug out Dubbo to find someone else had already been there: "...Access was gained into the Dubbo area during the quarterand revealed extensive excavations"

[whatsup]

paying themselves with our money!

Stevo, management has fronted up on several occasions and are well down on their investment, the workers are hard working at the mine head and will be massively disappointed , its a great pity that the slips were not full of gold at lease that could have been pay dirt !

[blackcap]

With $1.2m left and using about $800k per quarter, they will have to do a cap raise probably in the next 2 months. Currently the SP is at .8 offered. So a cap raise at .5 or so cents is likely on the cards. Cannot see it any other way.

A 1 for 5 at .5 would raise about $2m and keep them going for another year. Otherwise not sure how else this company can survive. Tis possible my analaysis is wrong.

[dubya]

With $1.2m left and using about $800k per quarter, they will have to do a cap raise probably in the next 2 months. Currently the SP is at .8 offered. So a cap raise at .5 or so cents is likely on the cards. Cannot see it any other way.

A 1 for 5 at .5 would raise about $2m and keep them going for another year. Otherwise not sure how else this company can survive. Tis possible my analaysis is wrong.

Your analysis ain't wrong blackcap. It's spot on!!!!

[Yoda]

Auzzies still at .08 Nz at .06

[Yoda]

Glad i sold half yesterday

[haewai]

The irony (and inaccuracy) of this now standard comment at the back of the cashflow statement:

The actual development expenditure for the quarter was $557,451 compared to a budget of $371,000. The reason for the variancewas due to the entity completing more mining work during the quarter than expected. Activities originally scheduled for the followingquarter have commenced earlier than anticipated.