NTL - New Talisman Mine - New board & Directors

[Getty]

No doubt Matt will use up a bit of shareholder funds to patent his pilot plant, as it was patently useless!

[Bluemanarc]

I see someone has placed a buy for 5m Shares at .001 with a speculative punt.

[Motley Crew]

The SP was .009 when the last SP was announced ,I like a lot of others sold out at .008 and .009 and bought back in at an average of .0065 then waited for the bonus shares.As I said before the SP is to low now,so expect a boost in the SP with some good news and then a capital raise.Or of course they might not need one,if they can crank up production.

Every time the SP pokes its head above the waterline, Matt clobbers it with another CR. A few years ago (2017 ?) when the SP hit 2.7 - 2.8c, in what looked like the company getting up off the canvas, Matt smacked it back down again with a CR priced at 2.2c. The price fell immediately, as it always does, to the level of the CR price, only it kept heading south because 'investors' didn't believe the funds would be utilised efficiently. It was just the same old same old - cashing in on a higher SP. That CR wasn't a resounding success because the 3:1 issue the previous year was still fresh in many 'investors' minds.
In terms of 'cranking up production' - there currently is no production to 'crank up'. If there was some sign of production then maybe the company could self fund itself - but as I have mentioned previously (and others have eluded to as Matt doing 'what Matt does best'), the directors find it far easier to shoulder tap shareholders for funds than having to actually mine the supposed yellow stuff in the mine. It's about time they did produce some gold from the mine, but the only mining they seem to know best is 'mining' in shareholder's pockets - for investor brass, not gold. You might like to call it "Fool's Gold" !

[Motley Crew]

Meanwhile, in the real world, the ASX has been happily paying a 8-9% premium to the NZX the last few days.

Yes I have taken advantage of that to raise funds for MLL which is up about 40% in the last couple of weeks - that equates to A$0.0084 in NTL terms (NZ$0.009). Anyone see that SP going through recently ? The longer you stick with NTL the further behind the market you become = Opportunity Cost, or in this case = The Cost of Lost Opportunity

[Motley Crew]

don't forget the $8 million dollars over 2 years on the pilot plant as part of bulk sampling...….(am ducking under table to avoid the obvious cow dung that will come my way)

And this is exactly the gross inefficiency (I am tempted to call it something else that would be far more accurate) with the use of funds that other junior miners would not allow. $8m to many small explorers is a gold mine in itself, and enough for them to do some serious sniffing around. But our NTL finds it all too easy to get shareholders to reach into their pockets and hand over the dosh. Trouble is, how many 'investors' are sitting on the sidelines waiting for the SP to crack .01+ so that they can sell out. There will be a mountain of resistance to the SP reaching any spectacular heights from now on, with an ever increasing number of shares on issue. And Matt will get in first with a CR before the SP is allowed to get too high. The only remaining avenue will be to lop a couple of 0's off the issued capital with a consolidation, with a dramatic loss of value to all shareholders at the time, but a new base platform for Matt to start a fresh round of CR's and no doubt pull a fresh crop of suckers into the fray.
Am I being too cynical. I think not.

[Miway]

Well said MC. I invested 4 years ago and gave myself 3 years to find the gold.
Sold out over the last 3 months and like you invested in a couple of Aussie miners and starting to recover my lost opportunities and money.
NTG are highway robbers.

[steveb]

Originally Posted by ziggy415
don't forget the $8 million dollars over 2 years on the pilot plant as part of bulk sampling...….(am ducking under table to avoid the obvious cow dung that will come my way)
Am I being too cynical. I think not.[/QUOTE]
Yes you are a tad cynical which is your right,but please don't believe everything that is posted here is gospel.Where on earth does ziggy415 comes up with his facts! For the year ended Mar2018 NTL paid out a total of $1.575mil,on development costs and for year ended Mar2019 $2.487mil.
A simple look at the books would show they have never had $8mil to spend on a pilot plant!

[ziggy415]

Originally Posted by ziggy415
don't forget the $8 million dollars over 2 years on the pilot plant as part of bulk sampling...….(am ducking under table to avoid the obvious cow dung that will come my way)
Am I being too cynical. I think not.

Yes you are a tad cynical which is your right,but please don't believe everything that is posted here is gospel.Where on earth does ziggy415 comes up with his facts! For the year ended Mar2018 NTL paid out a total of $1.575mil,on development costs and for year ended Mar2019 $2.487mil.
A simple look at the books would show they have never had $8mil to spend on a pilot plant![/QUOTE]
SORRY STEVE CANT FIND THE DOLLAR FIGURE BUT GO TO 2019 ANNUAL REPORT PAGES 3 AND 5 AND THEY MENTION 360 GOLD EQUIVELENT OUNCES PER MONTH OVER THE 24 MONTHS OF BULK SAMPLING...but if you do the math...

[steveb]

Yes you are a tad cynical which is your right,but please don't believe everything that is posted here is gospel.Where on earth does ziggy415 comes up with his facts! For the year ended Mar2018 NTL paid out a total of $1.575mil,on development costs and for year ended Mar2019 $2.487mil.
A simple look at the books would show they have never had $8mil to spend on a pilot plant!

SORRY STEVE CANT FIND THE DOLLAR FIGURE BUT GO TO 2019 ANNUAL REPORT PAGES 3 AND 5 AND THEY MENTION 360 GOLD EQUIVELENT OUNCES PER MONTH OVER THE 24 MONTHS OF BULK SAMPLING...but if you do the math...[/QUOTE]
Sorry Ziggy I thought you were talking about the cost of the pilot plant!

[Motley Crew]

SORRY STEVE CANT FIND THE DOLLAR FIGURE BUT GO TO 2019 ANNUAL REPORT PAGES 3 AND 5 AND THEY MENTION 360 GOLD EQUIVELENT OUNCES PER MONTH OVER THE 24 MONTHS OF BULK SAMPLING...but if you do the math...

Sorry Ziggy I thought you were talking about the cost of the pilot plant![/QUOTE]

Hi Steve. Fair point. But I think regardless of the actual $$ raised and spent, NTL has shown itself to be a highly inefficient user of capital. If I had the time I would go back 10+ years and work out exactly how much they have raised through CR. And then you would compare that to the time spent 'refurbishing' the mine and 'refurbishing' the CEO's pocket against the anticipated eventual payback in terms of gold extracted. The equation keeps getting worse with every successive CR. At current gold prices I think the net proceeds per Oz of gold is about US$650. Estimated reserves (if they can get them all proven and out of the ground) is about 400,000 Oz (?) - so not a huge amount compared to what is available offshore = US$260m. But realising all of that (or any of that) still seems a very long way off. That equates to about 9.3cps US (=NZ14c) based on 2.8b shares on issue at present. There will be more shares issued yet, and it will be many years before any substantial returns are generated, and probably nowhere near the net value of US$260m will be realised - unless the gold price goes up to the much vaunted $10k per Oz that keeps being bandied about.
Have any of us got that kind of patience when there are so many better opportunities out there, Right Now. Take a look at the MLL chart and tell me what's not to like about that. Up 6/16c in recent days with a big mine purchase and plenty of unexplored potential. Saved themselves $300m capex having to build a mine from scratch.