NTL - New Talisman Mine - New board & Directors

[jonu]

In every race there is someone jumping the gun.Just because share are trading X rights does not mean that rights are recorded against your name as it takes a short time to do that and entitlement has to be first established [tonight]. So officially they start tomorrow on the 25th.

No gun jumping here Digger. My rights were allocated yesterday. I didn't trade any but from memory 200k went through at 0.1. The company announcement of 17th May clearly states "Rights commence trading: Monday, 23rd May 2016".

[YoungBuck]

Can someone please help this rookie.

if I own 10 shares in NTL, do I now own 30 options to buy at 0.05? Which I can sell?

forgive my ignorance if this makes no sense

[silverblizzard888]

Can someone please help this rookie.

if I own 10 shares in NTL, do I now own 30 options to buy at 0.05? Which I can sell?

forgive my ignorance if this makes no sense

Yeah you are right you now own 30 options that can redeemed for 0.05 and can sell those, but it might be hard to sell them given there is so many options available, though feel free to.

[Absolute144]

To anyone concerned. Ill make an offer of an off market trade for Your NTLRD options at $0.0001. Ie 1500,000 options for $150 and ill also pay the transaction costs. Please PM me if interested or with your asking price. Im only after 1500000 units and you must have this many. Currently the sell offer on market is asking $0.001
Cheers

[Kees]

To anyone concerned. Ill make an offer of an off market trade for Your NTLRD options at $0.0001. Ie 1500,000 options for $150 and ill also pay the transaction costs. Please PM me if interested or with your asking price. Im only after 1500000 units and you must have this many. Currently the sell offer on market is asking $0.001
Cheers

cheeky but good luck.

[bullish]

Some good comments on what the rights will trade for.
My thinking is very much dependent on what the company is up to with other unknown parties,including Amer.Note here we know nothing but have this very large cash issue anyways. So if the company had said that any short fall could only be taken up by existing shareholder as apportion of there current holding,then we would have known that Amer or any other outsider could not just sit back and let them all fall so that they could alterwards scoop them up at .005 cents a share. But we are completely in the dark here so can only speculate on various out comes. It all comes down to if or what unknown deal has been struck.
So in my first scenario where existing shareholders are put first [small likely hood] meaning that outsiders have to buy the rights then I would say they will sell at point one of a cent-----.001
if there is some under the table agreement that they will go after the cash issue is finalized to some already agreed party then the rights are will sell for between .0005 to .000000000000000nil

Digger no sense to your post. I believe it's called continuous disclosure so as it stands today we know what they know. All material info must be in marketplace before cleansing notice issued. The offer document appears to show the intent of funds application which if shareholders take up their entitlements the company could well get way higher volumes and thus $$$.

On your options post perhaps you could also argue that as the rights are not able to be sold currently the company should turn all those rights into options for you for 5 years.

[bullish]

Very good artidle on the co.


New Talisman Gold Mines Ltd to enter cash generating bulk sampling phase
Tuesday, May 24, 2016 by Proactive Investors

New Talisman Gold Mines Ltd to enter cash generating bulk sampling phase
New Talisman Gold Mines Ltd (ASX:NTL, NZX:NTL) is ready to initiate a lucrative bulk sampling program at the 100% owned Talisman gold mine in New Zealand.

Based on the average ore reserve grade of 10.8 g/t gold and the strong gold price, New Talisman has the potential to generate NZ$30 million per annum during the bulk sampling phase.

The company is currently in the process of raising up to NZ$12.3 million through a rights issue to fund the Talisman gold mine into the bulk sampling phase.

The successful development of the Talisman gold mine has enabled the company to attract institutional interest from globally significant entities such as Newcrest Mining Ltd (ASX:NCM) and Amer International.

The company is expected to soon finalise an agreement with Newcrest over the Rahu tenement, which lies immediately to the north and along strike from the Talisman Mine.

Amer International, a Fortune 500 major Chinese group with expertise in the manufacturing and metals industry are also potentially taking a significant stake in the New Talisman.


Background

New Talisman retains a 100% interest in the Talisman Mine and Rahu Project which is immediately to the north of the Talisman mine.

Historical production from the 10 mines situated within the current New Talisman mining permit is reported at over 4 million ounces of gold bullion at an average recovered grade of 23.1 g/t gold.

The company also holds 17.9 million shares in Broken Hill Prospecting Ltd (ASX: BPL) representing a current market value of circa $1.7 million.


Talisman gold mine

The Talisman Mine was mined on 16 levels and good access is available on level 8 where the company has completed refurbishment for extensive channel sampling and drilling.

Talisman comprises the Maria, Crown/Welcome and Mystery veins and level 8 leads into Crown, Mystery Woodstock and Dubbo veins.

A pre-feasibility study for underground mining at the Talisman confirmed an initial phase one life of mine of 5 years to generate NZ$68.2 million in revenues and a cash surplus of NZ$23.4 million.

Start-up capital to generate this level of revenue was estimated at NZ$5.4 million.

The majority of the ore will initially be derived from the Mystery and Dubbo sections.

The study also allowed the company to announce a maiden ore reserve of 82,500 tonnes of at 10.8 g/t gold for 28,800ounces, and 48.1 g/t silver for 127,800 ounces.

New Talisman has successfully processed ore samples from the mine under a toll treatment agreement and the gold and silver was profitably extracted and sold.

Mineralised potential within the talisman permit area has been estimated at 0.55 million to greater than 2 million ounces of gold. Additional silver potential is measured at 1.5 million to 6 million ounces.


Bulk sampling

The company is now fully geared to proceed with the project, having completed regulatory requirements to initiate bulk sampling.

Bulk sampling will see the company extract on average 650 tonnes per month for a period of 18 months to 24 months.

The current plan to extract 650 tonnes per month is conservative relative to the granted consents, which allow for up to 20,000 cubic metres of ore to be removed per annum.

Based on the average ore reserve grade of 10.8 g/t gold, a 90% recovery and US$1,300 per ounce gold price, revenues of NZ$30 million could potentially be generated.

The bulk sampling phase will provide information that will allow the company to optimise the overall project plan and transition into the initial phase of the longer term production plan.


Rahu Newcrest opportunity

Newcrest and New Talisman signed a non-binding agreement in May 2015 pertaining to a proposed farm-in and joint venture over the Rahu exploration project.

Rahu provides exploration upside for New Talisman and is part of important foundations for building a working relationship with one of the world's leading gold producers.

The joint venture agreement, covering equity participation and operatorship arrangements is expected to be finalised in the coming weeks.

Newcrest farmed into a nearby New Zealand gold project in 2015 with Laneway Resources Ltd (ASX:LNY).

Should a joint venture agreement be formalised at Rahu, an avenue for future potential strategic opportunities will be created.


Rights issue

The company is seeking to raise up to NZ$12.3 million through a renounceable rights issue of 3 new shares for every 1 existing share held.

The issue price is NZ$0.005 or A$0.005 per share and the offer closes on 14 June, 2016.

Funds raised from the current rights issue will be used in the following priority:

- Initiate bulk sampling programme;
- Accelerate bulk sampling programme;
- Complete feasibility study;
- Accelerate transition from bulk sampling to phase 1 of longer term production;
- Build out additional JORC compliant resources; and
- Fund obligations under a Rahu joint venture.


Strategic shareholder

New Talisman has had continuing negotiations with Amer International, a major Chinese group with expertise in the manufacturing and metals industry.

Amer is a major supplier of copper products and cables which last year recorded US$43.6 billion in sales.

Amer's founder Wang Wenyin, is estimated by Forbes magazine to be China's 9th wealthiest person having a net worth of US$7.9 billion.

Amer have indicated that they will visit New Zealand in the next month to advance discussions on subscribing for a potentially significant stake of new shares in the company.


Infrastructure

The Talisman mine is situated mid-way between the well-established towns of Paeroa and Waihi in the Hauraki District of North Island.

The proximity to these towns provides excellent access to local infrastructure and a transport network. A sealed road leads to within 1 kilometre of the mine site.

Lines carrying 3 phase power are equipped to the mine site can be reconnected at minimal cost.

There is a sufficient area for ore transport requirements, engineering infrastructure, offices and stores area.

The company has water take consents and has designed an environmentally friendly water reticulation system.


Analysis

New Talisman has successfully received necessary permits and regulatory requirements to restart production at one of New Zealand's largest historically producing gold mines.

Securing funding in the current rights issue is the final hurdle for the company to initiate bulk sampling which has the potential to generate revenues of up to NZ$30 million per annum.

The NZD gold price is trading at NZ$1,850 per ounce, a peak level that has not been reached since early 2013.

New Talisman is currently dealing with two high profile companies being Newcrest Mining and Amer International and agreements with either company will act as catalysts for the stock.

A joint venture agreement with Newcrest is expected to be finalised in the coming weeks and has the potential to fast track exploration at the Rahu permit.

Preliminary metallurgical testing at Talisman has confirmed that the ore does not contain unwanted contaminants.

Given the area is known for historical gold production, it is closely situated to key infrastructure such as sealed roads, transportation networks, power and water.

New Talisman Gold Mines advances development of New Zealand gold mine
Development of the Talisman Mine is continuing with the grant of Change of Conditions, completion of a comprehensive traffic survey and progress on the remaining requirements by Worksafe NZ.

An applied for an extension of land over the Rahu area, which is generally contiguous with the Talisman permit mineralisation.

New Talisman Gold Mines raises funds to continue mine development
New Talisman now has additional funds for its continued development of the Talisman Mine in New Zealand. Earlier in the month the delivered a major milestone with the first production of commercial gold from the historical mine site in over 30 years.

New Talisman Gold Mines makes milestone gold and silver sale
The first sale of gold and silver from the Talisman Mine in New Zealand has generated revenue of about NZ$100,000 (A$89,680) for New Talisman Gold Mines. NTL is now a revenue generating company and there could be more to come.

New Talisman Gold Mines samples 1.5oz/t gold in New Zealand
Sampling of stockpiled ore from has returned very high grades of gold averaging 1.5 ounces per tonne, setting the foundation for commercial terms on processing ore from New Talisman Gold Mines’ Talisman gold mine in New Zealand.

New Talisman Gold Mines prepares Talisman ore for pilot testing
Sampling and pilot processing of stockpiled ore from the Talisman Mine in New Zealand will allow New Talisman Gold Mines to ascertain the value of its ore and finalise toll treatment arrangements. Previous spot samples had returned average grades greater than an ounce per tonne.

New Talisman Gold Mines granted operational authority
The receipt of authorisation to enter and operate the Talisman gold mine permit in New Zealand puts New Talisman Gold Mines another major step ahead on the road from explorer to producer.

New Talisman Gold Mines on track to commence year-end gold production
First production from New Talisman Gold Mines’ Talisman gold mine in New Zealand remains on track to start by the end of this year. The company has raised $634,069 from its rights issue.

New Talisman Gold Mines to fast-track production in New Zealand
Dual-listed New Talisman Gold Mines is fast-tracking gold development and production from the Talisman mine in New Zealand. Annualised production is forecast to reach 12,115 ounces of gold and 36,000 ounces of silver over an initial mine life of 5 years

[cammo]

Couple of questions.....I can see the offer document on the website but can't access the acceptance form....do I have to wait for the snail paper copy to sign and return ?

Also just wanting to know if people are keen to take up their rights or just hang out the dilution?

[gmatt]

https://www.nzx.com/files/attachments/235905.pdf

Yep..... will be taking up my 6m of rights ................. sold 1.5m at 1.4/1.0 when rights announced to help fund the 6m ....... I'm optimistic about the next few months........ think we'll have to wait on snail mail for acceptance form.

[themadhatter]

Same here. That's really significant dilution by not taking them. That said, our holding isn't particularly large, so that makes it a bit easier to source the funds.

Our acceptance form arrived in the mail yesterday.