NTL - New Talisman Mine - New board & Directors

[Antipodean]

Bit of a worry that they lost $1.2m in cash though and only have $2.8m left. That means capital raise in the next 6 months if they do not get a move on. The pilot plant is not yet commissioned either if I am reading it correctly....

Cash on hand is $2.8m but estimated outlays for next quarter for development are 391k. Assuming other costs remain constant (admin) and income doesn't change at all (interest only) 359k needs to be added for that. So 750k for next quarter, and at 2.8m / 750k that gives over 3 quarters before the cash runs out.

However now the activities report is out (which I'm still reviewing) we can add further information. "Approximately 8 tonnes of vein material has been extracted [from Mystery]", and "over 40 Tonnes of ore has been extracted from [Maria] over the last two weeks alone." In comments relating to the concentrator also note that "....by end of November with first production of gold from stockpiled ore by year end." So we should expect a change in cashflow item 1) a) in the next, or following quarterly cashflow reports. Exciting times.

Cashwise its hard not to see this is cutting it a bit close though, would have been really handy to have those options converted last year instead of the IMO not-so-great capital raise. Hopefully NTL is concentrating (no pun intended) on the immediately available revenue now that everything is in place.

[cyclist]

I was feeling a bit uncomfortable about the cash position too, but then it occurred to me that we bitch and whine when they are taking too long to get things done, where at the moment we are seeing real progress including significant capital items being installed. Can't have it both ways. Another capital raise will be touch and go though I suspect.

[Stumpynuts]

In comments relating to the concentrator also note that "....by end of November with first production of gold from stockpiled ore by year end." So we should expect a change in cashflow item 1) a) in the next, or following quarterly cashflow reports. Exciting times.

Cashwise its hard not to see this is cutting it a bit close though, would have been really handy to have those options converted last year instead of the IMO not-so-great capital raise. Hopefully NTL is concentrating (no pun intended) on the immediately available revenue now that everything is in place.

Hopefully some Xmas spending money by year end to reinvest back into the longer term outlook.
Concentrator wise - Their report states that they maybe looking at getting a larger plant setup for the longer term outlook once they find their groove and can determine recoverable grades from this initial installation which is currently underway.

[Bluemanarc]

Spending cash to get the plant operational and run it, is pretty good in my view.
I was very impressed at the AGM with the bearded accountant or financial controller or whatever he is.
Smartest person in the room by far, he has a certain mana and confidence about him, and knew what he was doing.
They often went to him for corrections and clarifications on certain points.
I don't think you will have a problem with running out of money, I like the cut of his jib.
One of the reasons I have gone into this at a greater level of investment.

The biggest hurdle was always to overcome paperwork and red tape (its the new NZ way / replacing the number 8 wire).
We were a country of enablers, now we are a country of regulation, NTL are past that now, actually operating, that is no small thing.

[Bluemanarc]

Once those traitors (betraders as my boy call it) leave at 1.7 and 1.8c

There aint much holding back a rise up to 2.6c / 2.9c

I can only see good things from here

[Mbro]

Would not expect to see any income from mining activities to appear untill next quarter at the earliest.

Hi chippy. I see you guys are still in! did you go to this years AGM?

[Mbro]

Yes, I really misjudged those November options. Never imagined a company would kneecap their own option holders. i lost on those options as did anyone who bought them, and they raised less than they would have, had they stayed with the option redemption.Especially as shares were running near 3c at the time from memory so all options would have been converted. Still, I like the assay results, and the mining consent. it should come right soon, after all, its only been 30 years so far.

[Brain]

Half year report seems ok. Making progress. Aiming for 800 tonnes per month @27gms per tonne which I figure would be about $800,000/month or $9M NPBT/ annum. All good when or if it happens

[Landyman]

Here comes Santa, hes on his way
Let him take our blues away
The gold is there
But do we dare
To think they will process any by May

[Brain]

Here comes Santa, hes on his way
Let him take our blues away
The gold is there
But do we dare
To think they will process any by May

They did say in their report that they are expecting to produce some gold by the end of the year.
If they can throw some of the ore from BM37 drill hole region into the pilot plant they could be generating cash quicker than we think. The ultimate would be the 10kg/tonne ore that they have mentioned on a number of occasions. Probably isn’t much of it but then again at those concentrations only a small amount could generate a bit of dosh.

With a bit of luck they could be off to a good start.