NTL - New Talisman Mine - New board & Directors

[whatsup]

This is a classic case of " When the ducks are quacking, FEED THEM " !!!!!! *** !

[Brain]

All the points that you make Ace are good. I was surprised that there was a shortfall offer considering there was no shortfall. From my point of view the more money the company raises the better. I am not concerned about the dilution of my holding I can correct that easily.if (a big if) someone wants to buy 100M shares they may take the shortfall offer up and raise some money for the company. It’s any body’s guess how much that would cost to buy on market.

[Lion]

A bit of a 'good news - oh, sorry, bad news' day for the SP today.

ComputerShare are showing my new SPP shares. My new average price is 1.03c now, and if I 'count my chickens before they are hatched' (i.e. bonus shares in a year, which I guess I have already paid for) the average would be 0.95c. Not too far away from current SP.

Ace - you say "Well they could buy on the market - like anyone else." But that wouldn't bring in new cash to the company, would it?

But I share the general disappointment about the new shares on offer. I fully agree with your next sentence, Ace - 'There is a responsibility to minimize dilution, especially seeing that they are fully funded to complete their next phase and get the mine generating cashflow.'

And Ltw - didn't I read that this extended offer is only open to 'sophisicated & professional investors', or something similar? Counts me out!

[steveb]

Well I for one put in the 15K and my reward is to see the SP trampled on,my holdings diluted,and my confidence in management doing the right thing for shareholders gone.

I can't see any way I can add more through this new SPP I am no pro and sophisticated certainly not seems only sophisticated investors did not support the last SPP,and yes I am calling it a new SPP there was no shortfall.

And I know ACE has covered all these points recently (thanks) But I am allowed a rant occasionally!

[Brain]

The sophisticated investor bit only applies to Aussie residents. Any man or women and his/her dog can apply if you are a NZ resident.

[Lion]

The sophisticated investor bit only applies to Aussie residents. Any man or women and his/her dog can apply if you are a NZ resident.

Yeah, quite right, Brain. I had only skimmed the announcement. So Ltw, you are free to buy as many as you wish (in multiples of $1k)

I have an uneasy feeling about this. It's open to anybody and with no upper limit on quantity.

But why, oh why do this? It's a bit like turning the anti-virus off on your computer. You open yourself up to the big wide wicked world out there. Am I being paranoid? Well, maybe, but why take the risk? There are many people/companies in this big wicked world with deep pockets who might think it's a bit of fun to buy a controlling stake in NTL. It wouldn't hurt to put a cap on the amount spent, surely.

P.S. I wonder if M H and the board have considered the possibility of a hostile controlling interest? Good heavens! They might even want to appoint a new CEO!!

[Ltw]

I for one are pretty gutted about this. I had read a lot of the earlier post and nearly flagged it all together but regained confidence so went ahead and got a few. Following this I could see a great potential for a good lift and brought more after the SPP at .008 and after the earlier announcement I thought here we go. Then bang I was hit in the face with a smelly rotten fish... lots of things have gone through my mind and the only thing I can think of is that the pilot plant has done very well and they now want as much capital as possible so they can order the real deal processing plant as soon as possible and get it humming. If not this Management team needs a swift kick in the you know what!!

[Brain]

I think there is and logically must be an upper limit to the capital you can raise from an SPP. 15% more shares springs to mind but hopefully a more learned poster will clarify this. I have faith that the management will do the right thing. If I didn’t then I wouldn’t touch these shares with a 40 foot barge pole. A good rule in investment is to never swim with sharks.

More money means more rapid development.

Progress is being made.

[Brain]

If the 15% figure is correct and they have already issued 150M shares then they are about half way there.

[dompf]

I really want this company to be successful in NZ but after following it for for two years I just can’t see how the management command such lucrative salaries in the face of minor results. I would love to invest in this but unfortunately can’t at the moment.