NTL - New Talisman Mine - New board & Directors

[blackcap]

Cheers Bullish,

I have done my own research and am not yet interested. I will be once NTL do something tangible. There are many more exciting places to be. I would rather buy on the way up at say 2.5 cents (or even more) once NTL have done something and show some intent not with words but with deeds. I got out of here a long time ago and am thankful I did. But good luck to them and you, I really hope it works out. Maiden reserve and PFS... please explain what do they actually mean? Plenty of greenies in that area of the country to stop NTL for years if they so wished. Not for me at this point thank you.

[elZorro]

The newer NZPAM permit maps show NTL's Golden Valley permit is quite large, EP40-736 has another 2 years to run, and there will need to be some drilling done. It's just to the east of Waihi, and GEL's WKP permit is shown in the top of the same map.

http://data.nzpam.govt.nz/PermitWebM...p?permit=40736

And it's still there in the Talisman mine.

http://www.contrafedpublishing.co.nz...rs+vision.html

[Minerbarejet]

Sorry guys/ guyesses no word from ntl on a mine visit as yet. We await developments.

[bullish]

Gents

Looks like if SPP gets done we are on!!!


New Talisman chairman outlines project plans
11 September 2013
A letter sent by Murray McKee, chairman of New Talisman Gold Mines Ltd (NZX & ASX: NTL) has explained to shareholders the reason behind a share purchase plan (SPP) announced last week.
He said the company’s progress in recent months have included an access road to the Talisman mine site at historic Karangahake near Waihi, and completed a pre-feasibility study on mining.
“We have also advanced negotiations with the regulatory agencies on the terms and conditions of the resource consents necessary to operate the mine and the provisions of the land access arrangements.
“We expect to be in a position to announce the final terms and conditions shortly,” he added.
Under the SPP, shareholders can take up shares to the value of $NZ15,000 (or $A12,600) each. The issue price of the SPP has been set at NZ 1 cent per share, or A0.86 cent for Australian shareholders.
McKee said funds raised from the SPP will be used to:
Iinitiate underground bulk sampling and evaluation at New Talisman, including mining and processing options.
Safety and environmental requirements and relevant consents.
To fund working capital requirements.
The historic mine previously produced a total of 1 million ounces of gold and 3 M oz of silver.
McKee said the first phase of mining would establish a low-impact, small scale operation extracting the high grade ore adjacent to the mine’s accessible 8 Level drives.
This would generate cash flow, to support further exploration activities for additional ore resources to support future mine expansion.
A mine plan which takes advantage of the flexibility provided by independent resource blocks and offers resilience in the event of ongoing price volatility
The target would be to achieve annual gold output of 12,115 oz Au and 36,000 oz Ag within four years
Studies have indicate mine production costs of $US588/oz gold and total cost, inclusive of capital requirements, of US$1,075/oz – “well below current prices.”
He said a capital requirement of NZ$1.5 M initially - based on current information - is expected to be sufficient to become self-funding. A total of $NZ5.4 M phased over 3 years could take advantage of internally generated cashflow.
The chairman said based on the output from the pre-feasibility study, this phase was expected to deliver more than $NZ50 M in revenue and a cash surplus exceeding $NZ20 M over 5 years.

[elZorro]

I have received the SPP offer documents. Note to management, it was raining inside my letterbox , it would have been better sealed in plastic.

We are each invited to cough up a maximum of $15,000 for some new shares at 1c. Is this a good deal? Note that only 100 shareholders deciding to take up the full offer will meet the $1.5mill needed to be self funding in gold recovery from then on, if everything goes to plan.

The grade of the ore that will be pulled out will average 12 g/tonne. If they mean that there will be little waste ore, this makes a lot more sense than the GEL operation at Drybread, something that I have to admit up front, cost me plenty.

At Drybread, where they also used mechanical methods to concentrate the gold, the grade was more like 0.4g/m3, or 0.2 g/tonne. They had to dig several metres down to find the 0.5mtr wash layer. It became an exercise in futility with small-scale gear and some untrained staff.

NTL thus has a huge advantage. They can follow the veins, leave all the rubbish metal underground, so they only need to use skilled operators with small-scale equipment, and link up with Newmont, who as a large gold producer looking to extract some more cashflow in the meantime, must be the party they are talking to.

They will be pulling out 650 tonnes a month of ore, at 12g/tonne it's 250oz of gold a month, over $400,000 p.m or $5mill a year. At a polite 40hr week, the extraction is about 3.6 tonne an hour, or 1.5 m3 an hour. This doesn't seem too daunting. They'll need to transport about 30 tonnes a day to Waihi. Also not too hard. One truckie, one on a digger part-time, two inside the mine? They might be first concentrating the ore at the mine itself, in which case my figures would be wrong. A lot less transport costs, but more equipment costs. With high grades I'm not sure why they would bother. Unless they need to feed the material in well up the chain at Newmont's mill.

I will be tempted to free up $15,000 to check the investment out. New Talisman might be hoping the slide in the gold price doesn't continue, because at the moment I can buy shares on market for about the same price as the offer. This won't help their coffers. But there is no future incentive with the offer (like a fixed price warrant with an expiry date of 2 years or so). The closing date is just 25-26th Sept. There is helpfully a direct credit bank account number, ready for the funds.

If it was my bank account waiting for a topup, I'd be putting out some good news quite soon.

[digger]

I have received the SPP offer documents. Note to management, it was raining inside my letterbox , it would have been better sealed in plastic.

We are each invited to cough up a maximum of $15,000 for some new shares at 1c. Is this a good deal? Note that only 100 shareholders deciding to take up the full offer will meet the $1.5mill needed to be self funding in gold recovery from then on, if everything goes to plan.

The grade of the ore that will be pulled out will average 12 g/tonne. If they mean that there will be little waste ore, this makes a lot more sense than the GEL operation at Drybread, something that I have to admit up front, cost me plenty.

At Drybread, where they also used mechanical methods to concentrate the gold, the grade was more like 0.4g/m3, or 0.2 g/tonne. They had to dig several metres down to find the 0.5mtr wash layer. It became an exercise in futility with small-scale gear and some untrained staff.

NTL thus has a huge advantage. They can follow the veins, leave all the rubbish metal underground, so they only need to use skilled operators with small-scale equipment, and link up with Newmont, who as a large gold producer looking to extract some more cashflow in the meantime, must be the party they are talking to.

They will be pulling out 650 tonnes a month of ore, at 12g/tonne it's 250oz of gold a month, over $400,000 p.m or $5mill a year. At a polite 40hr week, the extraction is about 3.6 tonne an hour, or 1.5 m3 an hour. This doesn't seem too daunting. They'll need to transport about 30 tonnes a day to Waihi. Also not too hard. One truckie, one on a digger part-time, two inside the mine? They might be first concentrating the ore at the mine itself, in which case my figures would be wrong. A lot less transport costs, but more equipment costs. With high grades I'm not sure why they would bother. Unless they need to feed the material in well up the chain at Newmont's mill.

I will be tempted to free up $15,000 to check the investment out.

Thanks for your cals el Zorro. I too lost in GEL but it was risk capital and I came in at 11 cents just after the last cash raising in Canada at 16 cents Canadian. I thought I was safe, in fact when I put in the bid I did not expect to get the order. Still that company is now mostly forgotten now and maybe you should as well.
Back to NTL. Yes it looks very different and for me just down the road. We often walk or bike those trails. Just received my offer today and with a quick glance will likely be in for the lot--but just a bid early for now to say.
Cheers and hope you make some money on next venture.

[elZorro]

Thanks for your cals el Zorro. I too lost in GEL but it was risk capital and I came in at 11 cents just after the last cash raising in Canada at 16 cents Canadian. I thought I was safe, in fact when I put in the bid I did not expect to get the order. Still that company is now mostly forgotten now and maybe you should as well.
Back to NTL. Yes it looks very different and for me just down the road. We often walk or bike those trails. Just received my offer today and with a quick glance will likely be in for the lot--but just a bid early for now to say.
Cheers and hope you make some money on next venture.

Cheers for the comments Digger. GEL was certainly an experience. It was amazing/criminal/shocking/expletive how badly informed the market was about that operation in the last few months. We still have no idea what Newmont really think of WKP, which is why I'm watching their (now very small) MCap with interest. The company is ripe for the taking, probably by Geoff Loudon.

Based on a conservative gold price of US$1200/oz, the cumulative cashflow at Talisman should never get worse than $1.5mill negative (9 months in), and within 24 months will be at plus $2.5mill. This means that all the capital equipment for the sampling operation will be paid off too, I assume. That's significant for a company like NTL. GEL couldn't do it, but I think NTL will. Gold might even ramp up from here, and they could find some new hot-spots like BM37. It has to be better than sitting back and looking at the idea.

Thanks for the advice on the options Moosie, I didn't figure that one out. Lightly traded, but valid for share purchases at 2c until well into 2017, that's kinda tempting if one hopes that gold sales will provide the bulk of the funding down the track.

[Minerbarejet]

Anyone else going to the AGM on thursday? Is there parking around that area?
See you there
cheers

[bullish]

I have received the SPP offer documents. Note to management, it was raining inside my letterbox , it would have been better sealed in plastic.

We are each invited to cough up a maximum of $15,000 for some new shares at 1c. Is this a good deal? Note that only 100 shareholders deciding to take up the full offer will meet the $1.5mill needed to be self funding in gold recovery from then on, if everything goes to plan.

The grade of the ore that will be pulled out will average 12 g/tonne. If they mean that there will be little waste ore, this makes a lot more sense than the GEL operation at Drybread, something that I have to admit up front, cost me plenty.

At Drybread, where they also used mechanical methods to concentrate the gold, the grade was more like 0.4g/m3, or 0.2 g/tonne. They had to dig several metres down to find the 0.5mtr wash layer. It became an exercise in futility with small-scale gear and some untrained staff.

NTL thus has a huge advantage. They can follow the veins, leave all the rubbish metal underground, so they only need to use skilled operators with small-scale equipment, and link up with Newmont, who as a large gold producer looking to extract some more cashflow in the meantime, must be the party they are talking to.

They will be pulling out 650 tonnes a month of ore, at 12g/tonne it's 250oz of gold a month, over $400,000 p.m or $5mill a year. At a polite 40hr week, the extraction is about 3.6 tonne an hour, or 1.5 m3 an hour. This doesn't seem too daunting. They'll need to transport about 30 tonnes a day to Waihi. Also not too hard. One truckie, one on a digger part-time, two inside the mine? They might be first concentrating the ore at the mine itself, in which case my figures would be wrong. A lot less transport costs, but more equipment costs. With high grades I'm not sure why they would bother. Unless they need to feed the material in well up the chain at Newmont's mill.

I will be tempted to free up $15,000 to check the investment out. New Talisman might be hoping the slide in the gold price doesn't continue, because at the moment I can buy shares on market for about the same price as the offer. This won't help their coffers. But there is no future incentive with the offer (like a fixed price warrant with an expiry date of 2 years or so). The closing date is just 25-26th Sept. There is helpfully a direct credit bank account number, ready for the funds.

If it was my bank account waiting for a topup, I'd be putting out some good news quite soon.

Agree El Z

While I understand that some here were a little disappointed at the release of in my view great news just prior to SPP those sexy fun loving major superyacht buying grades were really uplifting and show something..... As the moose pointed out SPP pricing is a target following release. In my view based only on their last 3 or 4 raisings where even with market at 1.1c Aus they put it away and we got none of it. Surely that was during a higher risk stage ie pre PFS. I find this to be a generous offer to shareholders. These guys seem good at getting placements away and at 1 cent NZ for which the price dropped from 1.7 or 1.8 back to 1 it doesnt take much for this little goer to rock n roll.

In a climate where others you mention are effectively a shell and a second board shell at that, these guys made a high risk call to drive forward in a very very hard market. each needs to make their own call but in looing at how these guys communicate they only do so factually. Anyone else going to the AGM. Im keen to meet the Exec and mining guy they have chnaged what this company was. Recent media sounded positive in miningnew etc.

Good luck getting the options at one stage they were trading at 1.7cents NZ in parity with share price.......long term but good levergae if you can get em.

What does every one else think now they have the SPP documentation?. For what I have recieved over the years it was a good read.

I cant find anywhere else these grades for this price.....it aint big but its just the start dont forget they have Rahu, Golden Valley, Northland etc.......if they get this away im looking forward to free tui's from Major for life or mossie who already is about to have to make a takeover with his holding.

[blackcap]

If its all so great why is the SP at an all time low of .9? To me that says that the investing public are still very skeptical about this company and their rhetoric. They are waiting for action rather than words I think.