NTL - New Talisman Mine - New board & Directors

[youngatheart]

Latest Quarterly Report out...
https://www.nzx.com/companies/NTL/announcements/296162

Is. That. It??? Not much at all!

[Brain]

They raise $6m and they still operate this company as a man and a dog outfit.

[gmatt]

Guess the SP will continue sideways until NTL gets an approved traffic management plan ...... I think that's the only holdup. Surely it can't be too far away?

[Stock Rooster]

Copy of my HC post:

How can NTL explain their projected development costs being dwarfed by their Staff, Admin and Corporate costs yet still spend over half a million in one quarter???

Column 1	Column 2	Column 3
9.	Estimated cash outflows for next quarter	$NZ’000
9.1	Exploration and evaluation	Nil
9.2	Development	200,000
9.3	Production	Nil
9.4	Staff costs	56,650
9.5	Administration and corporate costs	275,000
9.6	Other (provide details if material)	Nil
9.7	Total estimated cash outflows	531,650

It has to be the TMP... Why spend money on a mine if you have no guarantee you can access it!!!!

It appears NTL has gone backwards ("continues to engage with the council and other stakeholders to achieve a design")

I have some inside knowledge of a NZ residential section development where the access was almost identical from a main road. In that case the developer was forced to pay for new turning bays and road widening on the main road, tar sealing, storm water and widening of the access road and the big kicker the replacement of a one lane bridge with a two lane bridge also on the access road.

Trust me this roadway will cost a small fortune if the Hauraki Council demands half decent upgrades!!!!

It doesn't matter if your CEO has stock if shareholders let them draw well over $1,000,000 in salary until the money runs out...

Not many cheerleaders here today after these two announcements!!

[Brain]

The companies office website still shows issued shares as 817722586 whereas there is over 2000,000,000 on issue. These guys can't even keep ahead of basic paperwork.

[Antipodean]

Where are those costs from Stock Rooster? Section 9 in todays quarterly is regarding tenements. I certainly hope column 3 is not actually in $NZ'000 - I wouldn't want estimated cash outflows to be $531,650,000!

Quarterly cash report...looking fine. $6,027,781 in the bank, YTD burn is $1,026,637 and last quarter burn $430,508. 3.5+ years of cash at current rate, though it is expected that this rate will increase when things start moving... so moving along to activities report....

TMP lack of progress is frustrating, and reports that "...progress is not as rapid as initially hoped" are disappointing. Working with councils means not rapid and disappointing are always possible. Still NTL has dealt with the council on all the other consents so very frustrating this cannot seem to get over the line.

I am also disappointed that no further details regarding the potential deal with Amer were forthcoming. While I am glad NTL are not simply rolling over to them - judging by this lovely line "...however agreement on material matters such as valuation, and asset composition, are not at this stage in a form capable of being considered by the Company and its Shareholders". I still feel somewhat in the dark regarding this potentially significant negotiation.

Rahu carries on, I guess. Nothing definitive at this stage but expected.

I sincerely hope for some more news before the next quarterly.

[Stock Rooster]

Figures cut and paste straight out of the Cashflow Report.... Agree with the $NZ'000... They should fire their accountant haha

[gmatt]

The companies office website still shows issued shares as 817722586 whereas there is over 2000,000,000 on issue. These guys can't even keep ahead of basic paperwork.

Don't think they bother with their website any more ....... have emailed them a couple times re top 20 shareholders with no response/action ..... thought the new secretary may help but obviously not.

There's no doubt they need to get their act together ...... they were quite efficient in their cash raising (even replied to an email from me!) so they can do it.

[jonu]

Disappointing Quarterly, no doubt about that. The TMP parties need a rocket, it can't be that complicated. Especially as they have agreement in principle. The Amer situation doesn't really surprise me. I think Amer have missed the boat in the cheap bargain they were looking for. Their best bet maybe to quietly accumulate on market for a while.
Having said that, there are no nasty surprises, just a snail's progress on all fronts.

[Yoda]

From last years report

Mine Access and Consenting
NTL has secured all necessary permits and consents to begin operations and has secured an agreement with the Department of Conservation to close the land to public access of the mine portal area once work commences on site.
Traffic Management Plan
The traffic Management Plan has been approved in principle by the HDC. The plan sets out an analysis of the risks involved with roads transport and the company’s approach to managing these risks. The plan proposes a series of controls, ranging from limitations on speed to structural alterations to the road, aimed at eliminating the risk, isolating users from the risk or minimising the effect of the risk. This approach is consistent with the intent of the 2015 Health and Safety at Work Act.

I sort of naively took this to mean they had traffic sorted.