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  1. #1991
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    And Im back on the NTL bandwagon :-), my expectations are.....low

  2. #1992
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    Conservative valuation of liquid assets


    From NTL reports


    Total Shares, Listed Options and Unlisted Options: 2,202,597,371

    Current Assets (Cash Only): $6,460,024
    Liabilities: $227,971
    Liquidation Value: $6,232,053
    Burn Rate: Planned expenditure this coming quarter of $556,650 with no expected revenues. Surprisingly development costs ($200,000) less than corporate and administrative costs ($300,000).


    Current Cash Backing less liabilities per share and outstanding options: 0.0028


    I believe this is a much more realistic margin of safety marker than the 1 cent NTA released by the company but is being eroded daily.


    Assumptions: All non current assets written down to zero until gold is poured. Apart from Assets under construction ($7,554,266) they are almost zero anyway.



    Questions:


    1. If NTL carries Assets under construction at $7.5M and Cash at $6.5M on its books (Everything else doesn't move the dial) for a total of $14M... Does that mean in the eyes of the accountancy firm/ auditor that the company is currently fairly valued at a current market cap of 12.5M????


    2. Will the new directors buy any NTL shares on market in the coming months????
    Last edited by Stock Rooster; 03-12-2016 at 03:25 PM.

  3. #1993
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    If you are going to include the 120mil listed options at 2c, then you should include the $2.4mil in cash they would generate if excised. Ditto for the 5-6mil unlisted options.

    Otherwise yes, NTA is not the best yardstick for this company.

  4. #1994
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    New chairman appointed ...... an excellent progressive move.

    https://www.nzx.com/companies/NTL/announcements/294135

  5. #1995
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    Quote Originally Posted by gmatt View Post
    New chairman appointed ...... an excellent progressive move.

    https://www.nzx.com/companies/NTL/announcements/294135
    Yes, check out his history from LinkedIn, IMG Global page and Wiki. Acknowledging that Murray has done great things for this company this is a very good move for the future. 2017 will be an exciting year.

  6. #1996
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    Agreed.

    Murray's new role in the team combined with new dynamic leadership evidenced by this:

    https://en.wikipedia.org/wiki/Charbel_Nader

    should make for an interesting 2017 / 18

  7. #1997
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    Was wondering if there could be any more exciting before the year disappears on us. In the annual report (30/06/2016) we have the following noted, and in italics underneath subsequent follow ups I could find little bits of information on.

    2016 - Initiate Bulk Sampling Project
    05/07/2016 announcement – “Board initiates the bulk sampling/trial mining at Talisman”

    2016 – Identify and evaluate additional resources
    17/08/2016 - Talisman Deeps announcement

    2016 – Site Establishment
    05/07/2016 announcement – “[TMC]… to begin construction in Q3 2016… Once the road to the site is upgraded the company will proceed with securing and equipping the mine site…expected to take approximately 6 months to reach the working face at the Mystery Vein Drive.”

    31/10/2016 announcement – “[TMC]… preliminary design has been completed and final road design is underway.”

    2016 – Initial Mine refurbishment
    05/07/2016 announcement – as per Site Establishment

    31/10/2016 announcement – “Design of the ventilation airlock…. has been completed.”
    “.. also commissioned the preliminary design of the electrical and compressed air reticulation systems.”

    2016 – Finalisation of Proposed Newcrest JV
    28/06/2016 - Binding agreement announcement

    2016 – Rehabilitation to Mystery Vein
    05/07/2016 announcement – “Mystery Vein targeted for first ore extraction”

    2016 – Development of Mystery Block
    05/07/2016 announcement – as per Site Establishment

    So possibly nothing further for this year, but pleasing to note everything mentioned for this year has been updated following the annual report. Still feel a little in the dark about what the discussions are with Amer, however note that they should be “well advanced” in the coming quarter (which ends 31/12/2016).

    Lots of irons in the fire… next quarterly activities report expected at end of January.

  8. #1998
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    Announcement on their website. Half year report with the answers to all your questions about the future. It's a turtle riding a snail people.

  9. #1999
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    Quote Originally Posted by cammo View Post
    Announcement on their website. Half year report with the answers to all your questions about the future. It's a turtle riding a snail people.
    haha ..... you're right there!! ............. but hopefully this new chairman will get things moving! (or at least release meaningful progress reports)

  10. #2000
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    I don't like:

    The mention of the traffic management plan continuing to be a time consuming process. From previous announcements this was approved in principle and it was inferred by me that this would be a (relatively) simple process to convert to formal agreement.

    Still no concrete details about AMER. If we have plenty of cash in the back... what are they bringing to the party? What is being discussed? Don't like this uncertainty. I appreciate there may be confidential clauses involved in the discussions but sooner or later the shareholder base needs some information and clarity around what is being proposed.

    I do like:

    The mention of the modelling completion with inclusion of Talisman Deeps targeted for end (or about the end...) of March 2017 quarter. Target date set.

    Confirmation of the initiation of the bulk sampling project and site works.

    Rahu work underway, with Newcrest starting to spend some $$ brings the JV closer.

    NZPM variation expected shortly.

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