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  1. #4246
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    I have been a supporter and shareholder of NTL so I should provide some commentary.
    I first bought NTL in April 2015.
    I participated in the 2016 CR and also the shortfall offer.
    I did not participate in the 2017 CR (My opinion is the 2017 CR was a mistake – especially with NTLOA in the money) [Note I did not hold NTLOA].
    Following the quarterly in April 2019 I exited NTL in full.

    Here are some excerpts from their announcements during my time as a shareholder.

    Offer Document - 20/5/2016, 4:32 pm RIGHT
    "The first funds raised will be applied to initiating the bulk sampling project which contemplates that NTL will extract on average 650 tonnes per month for a period of 18 months to 24 months"

    NTL successfully raises $4.69M, 5/7/2016, 2:13 pm GENERAL
    “Highlights
    • Successful completion of rights issue raises approximately $4.7M.
    • Board initiates the bulk sampling/trial mining at Talisman Mine. “

    NTL successfully raises a further $1.77M, 17/8/2016, 2:18 pm GENERAL
    “NTL SUCCESSFULLY RAISES A FURTHER $1.77M”
    “The total amount raised inclusive of the shortfall stands at $6.46M NZD with a current Market capitalisation of 14.5M NZD. “


    Half Yearly Report - 14/12/2016, 2:04 pm INTERIM
    "The company has successfully raised over $6 million of which $2.1 million will be used to fund the company’s activities relating to the bulk sampling project and corporate overheads for 18 months. Surplus revenues from the bulk sampling project are expected to provide a further $1.5 million."

    "It is currently not expected that the company will require further funds for the completion of the bankable feasibility study, applications for mining consents and phase 2 of mining"

    "The directors expect that the company’s financial obligations can be comfortably met for 24 months and beyond from current and future cash resources."

    Annual Report 2017 - Amended - 4/7/2017, 10:23 am ANNREP
    "ACTIVITIES THIS YEAR HAVE CULMINATED IN THE SECURING OF FUNDS NECESSARY TO COMPLETE THE FIRST STAGE OF TRANSITIONING THE COMPANY FROM AN EXPLORER TO PRODUCER."

    [Side note here. SP closed at $0.027 NZD on 27/08/2017 prior to next announcement and less than 5 months from Annual Report 2017 previously quote.]

    Same Class Equity Offer (Share Purchase Plan) - 28/8/2017, 1:12 pm OFFER
    "...new listed shares at an issue price of NZD 2.2 cents per share"

    NTL Issue of Shares - amended price of existing options, 3/10/2017, 12:54 pm SECISSUE

    “k Number of securities in … existence after issue 118,530,578 28/22/17 AUD $0.022 options (NTLOA):

    [Side note here. If all remaining options had converted that would be $2,607,672 AUD. However the sp closing at 03/10/2017 was $0.020 NZD – options no longer in the money.]

    New Talisman Gold Mines Limited Options (“NTLOA”) – Expiry, 6/12/2017, 1:26 pm MEMO

    Quarterly Cashflow Report, 31/1/2018, 3:21 pm GENERAL
    “(a) Cash proceeds from issues of shares, options, etc 1,924,661 “

    So in my opinion the NTLOA holders got screwed, 2017 CR raised less than they would have brought in anyway, and the over $6m raised back in 2016 should have taken us a lot further than we now are in 2019 with funds running low and another CR on the books.

  2. #4247
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    yes antipodean I have to agree with you it's pretty sorry reading.I suppose there are 2 sides to the story,but overall you wouldn't give management a pass mark.But I think you can certainly give them a pass mark on the progress (albeit slow progress) they have made in transitioning from a developer to a producer.

    I suspect that there will have to be another capital raise once the pilot plant and tests have confirmed the potential of the mine.I have no idea what the costs are to transition from the pilot plant to full production,I suspect management know,but are not willing to enlighten us poor shareholders in case we are frightened off!

  3. #4248
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    Just had a phone call from an Australian number about this offer, detailing the reasons, the price (and that it was a discount on the share price at the time of the offer) and that the offer period has been extended. They also wanted an indication of whether I will be accepting the offer.

    First time I've ever been contacted for something like this. This, combined with the extension of the day, smacks of desperation I'm afraid to say.

  4. #4249
    Member Timesurfer's Avatar
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    Quote Originally Posted by n908671 View Post
    Just had a phone call from an Australian number about this offer, detailing the reasons, the price (and that it was a discount on the share price at the time of the offer) and that the offer period has been extended. They also wanted an indication of whether I will be accepting the offer.

    First time I've ever been contacted for something like this. This, combined with the extension of the day, smacks of desperation I'm afraid to say.
    It doesn't sound like they are fending off potential investors with a stick does it.
    I
    “Better three hours too soon than a minute too late.”
    ― William Shakespeare

  5. #4250
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    Not a tall - this is quite typical, good idea as some shareholders forget, I have been contacted before with other offers, Charlies for one I recall.
    Quote Originally Posted by n908671 View Post
    Just had a phone call from an Australian number about this offer, detailing the reasons, the price (and that it was a discount on the share price at the time of the offer) and that the offer period has been extended. They also wanted an indication of whether I will be accepting the offer.

    First time I've ever been contacted for something like this. This, combined with the extension of the day, smacks of desperation I'm afraid to say.

  6. #4251
    Aspiring to be an Awesome Bear
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    Quote Originally Posted by n908671 View Post
    Just had a phone call from an Australian number about this offer, detailing the reasons, the price (and that it was a discount on the share price at the time of the offer) and that the offer period has been extended. They also wanted an indication of whether I will be accepting the offer.

    First time I've ever been contacted for something like this. This, combined with the extension of the day, smacks of desperation I'm afraid to say.
    Yep I had the same phone call last night and its the first time I have ever been contacted for anything as well. Doesnt bode well

  7. #4252
    Member Timesurfer's Avatar
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    Speaking of. I just recieved my call. At least it was from a very pleasent speaking lady - makes a change from the Indian callers on behalf of Spark and my internet provider
    “Better three hours too soon than a minute too late.”
    ― William Shakespeare

  8. #4253
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    Hi Joshua,
    Hot Copper is certainly worth using for ASX shares and definitely for gold shares. I am not a gold or mining expert but have had some success through basic analysis of companies plus feedback from others on BBs like Hot Copper. I acknowledge that there is a lot of trash published but there are a number of geniuinely knowledgeable people who are happy to share their knowledge. The trash is usually easily identified and ignored. I almost always check HC before buying an ASX stock so that I get a reading on the current situation. This is not foolproof but helps. HC has a much wider range of contributors than a NZ board can provide and so the level of knowledge that you can condense is better.

    I have found that there are knowledgeable people in the Australian gold industry who give honest comment. They may be employees in a different gold company who understand the geotechnical and mining aspects while others are experienced investors. People are willing to share their knowledge because the cut and thrust of opinions helps them to sharpen their own understanding and hence make better decisions.
    You indicate that your friend has failures as well as successes. That will be true of every investor in gold shares, which is why I diversify across a considerable number of stocks. Even the smart and knowledgeable guys get caught out if their postings can be believed (and who admits to a loss without good cause). I also diversify because I am not a mining person and so am more dependent on the opinions of others. Diversification reduces my risk of course, even though it holds back my gains with a successful stock.

    You do not need to lose all on an unsuccessful investment. That only happens when you keep hoping for a recovery, even as the stock keeps declining. Better to cut your losses at a certain point and try again elsewhere.

  9. #4254
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    Hi Bullish,
    I invest in both large and small gold companies and so disagree that you cannot measure relative values across them. At the end of the day they exist to make a return on investment like any other company. Of course there are some companies that exist to make a return for the directors and executives rather than the investors and you do need to watch out for those.
    Explorers without defined resources or reserves cannot be valued quantatively. You have to make a subjective judgment as to the quality of the managers and their licence areas. Clearly, this is high risk. Most explorer companies that are started fail. This is a well recognised fact. The other aspect to think about is Mark Twain's comment that a mine is a cheat and a liar standing at the top of a hole in the ground, or words to that effect. Which is why, today we have things like JORC standards for measuring resources and reserves but even so watch out as the Australian market has been learning in the cases of GCY, DCN and BLK recently.
    I do not see why a minnow like NTL needs to be considered differntly from other companies. They deal with the same commodity that sells at the same price and have to negotiate the same regulations. OGC is a mid-size producer (in global terms) but is facing permitting difficulties at present, just like NTL has had to deal with.
    There is no indication that NTL is developing a resource to sell its licences to another company. I think that is very unlikely. NTL has a very limited environmental licence from the local council (Hauraki?) to extract a small amount of ore for "sampling" each month. That is separate from the mining licence issued by Wellington and both are necessary.
    NTL's existing permits are secure but any extension of NTL's activity will almost certainly be clobbered by the Green machine that has ministers in the Government.
    The 7 year mine life that you state is in the context of a very small extraction rate per month. That means very small gold production. Out of that all the Director fees need to be satisfied along with other administration activity. It appears that NTL will produce gold as a concentrate for someone else to refine. That reduces the value of the gold they extract. Also, who will the "someone" be? (maybe I have missed this because I am, not interested in buying NTL any more).
    Best of luck with NTL if you are invested. I have been there, made money and moved on. My opinion is that there are much safer gold investments elsewhere, although I recognise that you have to go off-shore to participate in these.

  10. #4255
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    Not sure why posters above are thinking a phone call signals doom and desperation. To me it simply means the business is trying to raise as much funds as possible. That's it. Any other conclusion is a reflection of own biases.

  11. #4256
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    Well I just sold a couple of million,and will now buy them back through the SPP.I simply did not have the cash kicking around to support the SPP,and this is the next best way of helping

  12. #4257
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    I'm supporting the company to the full amount, they have done a lot work upgrading the mine on a shoe string budget.

  13. #4258
    I like peanuts... youngatheart's Avatar
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    Hmmm, a big jump up today by what looks like one buyer. Perhaps there's a leak? Good news coming then?

  14. #4259
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    Quote Originally Posted by youngatheart View Post
    Hmmm, a big jump up today by what looks like one buyer. Perhaps there's a leak? Good news coming then?
    I suspect this blip reflects recent global uncertainty and increases in gold prices....... Take care.

  15. #4260
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    Quote Originally Posted by youngatheart View Post
    Hmmm, a big jump up today by what looks like one buyer. Perhaps there's a leak? Good news coming then?
    I would not read too much into a day with turnover of ~$31,000 so far. It represents 0.19% of the company.
    Given how low the sp is (and > 2 billion shares on issue), any pip change of 0.001 looks like a huge % swing.

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