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04-11-2014, 09:32 PM
#1131
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05-11-2014, 12:04 PM
#1132
Edison Research has a quickie report out but not much in there we dont already know.
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05-11-2014, 01:33 PM
#1133
Originally Posted by Minerbarejet
Edison Research has a quickie report out but not much in there we dont already know.
It would be good to see a full valuation work up from Edison, even if just a stage one valuation only;
“Based on global average unit costs of discovery, NTL’s resource of 205koz should have required an investment of US$2.6m to delineate, or NZ$16.15/oz (US$12.60/oz). This compares to NTL’s current resource multiple of NZ$32.82/oz, or US$25.60/oz, against a global valuation average of US$11.37/oz. This suggests the market may be either applying a premium valuation to the existing resource (thereby making it value accretive to NTL to continue exploration drilling to extend the resource) or already discounting the expansion of the resource by 2.25x to 452koz (at global average valuation) for a relatively modest investment”
I just wonder how much of that excess discovery cost is due to the ridiculous cost required in achieving mining permits and resource consents in New Zealand, …… it’s time for a change.
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05-11-2014, 02:30 PM
#1134
Originally Posted by MAC
It would be good to see a full valuation work up from Edison, even if just a stage one valuation only;
“Based on global average unit costs of discovery, NTL’s resource of 205koz should have required an investment of US$2.6m to delineate, or NZ$16.15/oz (US$12.60/oz). This compares to NTL’s current resource multiple of NZ$32.82/oz, or US$25.60/oz, against a global valuation average of US$11.37/oz. This suggests the market may be either applying a premium valuation to the existing resource (thereby making it value accretive to NTL to continue exploration drilling to extend the resource) or already discounting the expansion of the resource by 2.25x to 452koz (at global average valuation) for a relatively modest investment”
I just wonder how much of that excess discovery cost is due to the ridiculous cost required in achieving mining permits and resource consents in New Zealand, …… it’s time for a change.
Suspect the length of time involved in getting NTL resurrected has probably contributed a fair bit to costs, MAC.
Its a bit of a delicate balance with all the little raisings and it drags things out.
Got to keep the bureaucrats paid, even the ones that dont actually do anything much.
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05-11-2014, 03:15 PM
#1135
Originally Posted by Minerbarejet
Suspect the length of time involved in getting NTL resurrected has probably contributed a fair bit to costs, MAC.
Its a bit of a delicate balance with all the little raisings and it drags things out.
Got to keep the bureaucrats paid, even the ones that dont actually do anything much.
Yeah I think there is an element of that, although raising capital at 1c as at present seems very market efficient IMO from a risk/reward perspective.
It is though improbable that a mining permit and resource consent could have been achieved in NZ for less than US2.6M, crumbs there would be a chance that the Taniwha's would want just that much alone to bugger off somewhere else. Then on top of all that there is the requisite cost of defining the resource to a JORC level.
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06-11-2014, 04:09 PM
#1136
SOLD - $100,000 - keep selling those stockpiles.
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06-11-2014, 04:10 PM
#1137
Member
Gold sales
Just in.....amazing grades of gold and silver.
6th November 2014
FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL)
REVENUES FROM SALE OF 60 OZ GOLD AND 227 OZ SILVER FROM TALISMAN
NTL is very pleased to announce that the company has concluded the first sale of precious metal in the company’s history. Fifty tonnes of ore despatched from the Talisman Mine site were analysed and found to contain 64.5 ounces of gold and 227.3 ounces of silver at a recovered grade of 42.56g/t and 150.01g/t respectively. The sale was on commercial terms satisfactory to the company and will generate revenues of approximately NZ$100,000.
The sale represents another major milestone for the company on its journey from explorer to producer.
As previously announced the batch of 50 tonnes of ore delivered to the treatment facility was part of a residual stockpile of high grade ore stored on the hard stand area at the Talisman mine. Smaller batches removed from the stockpile over the last 18 months were used to determine the metallurgical characteristics of the ore that will be produced from the Talisman mine in future and a preferred treatment process. Samples taken from the stockpile for earlier laboratory analysis graded 1.5 oz of gold per tonne and 8 oz of silver per tonne. A further batch of stockpiled high grade ore will be prepared for treatment following analysis.
CEO Matthew Hill said “This is the first production of commercial gold from the historical Talisman mine site in over 30 years and represents a significant milestone for the company.”
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06-11-2014, 04:15 PM
#1138
Member
Originally Posted by MAC
It would be good to see a full valuation work up from Edison, even if just a stage one valuation only;
“Based on global average unit costs of discovery, NTL’s resource of 205koz should have required an investment of US$2.6m to delineate, or NZ$16.15/oz (US$12.60/oz). This compares to NTL’s current resource multiple of NZ$32.82/oz, or US$25.60/oz, against a global valuation average of US$11.37/oz. This suggests the market may be either applying a premium valuation to the existing resource (thereby making it value accretive to NTL to continue exploration drilling to extend the resource) or already discounting the expansion of the resource by 2.25x to 452koz (at global average valuation) for a relatively modest investment”
I just wonder how much of that excess discovery cost is due to the ridiculous cost required in achieving mining permits and resource consents in New Zealand, …… it’s time for a change.
MAC Proactive did quite a good valuation piece.....see http://www.proactiveinvestors.com.au...and-55293.html
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06-11-2014, 04:19 PM
#1139
Nice milestone for shareholders and the company after a few years hard work, corks popping tonight probably. How does one even christen a mine, a bottle of champaign down a shaft perhaps ?
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06-11-2014, 04:30 PM
#1140
I thought maybe they put the decimal point in the wrong place. 42.56g/tonne is astounding.
Last edited by jonu; 06-11-2014 at 04:37 PM.
Reason: typo
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