NTL - New Talisman Mine - New board & Directors

[Getty]

Will Mr Rabone have a bone to pick with Matt?

[Paint it Black]

Thanks Getty but I was asking Vince. Keen to receive his feedback as well.

[RTM]

Thanks Getty but I was asking Vince. Keen to receive his feedback as well.

Recommend you check out post 7805 on the Oceania thread.....

[Paint it Black]

Recommend you check out post 7805 on the Oceania thread.....

Thanks RTM. No mention of Jonu however which I can see.
Interesting though. I'm just asking the moderator a simple question or is that not allowed?

[nztx]

One of the problems when the CEO is also a director. Particularly in this case where the board is very weak. I would imagine that Matt has total control which is why he can get a high salary from a company that doesn’t perform.

probably not far wrong ..

possibly not an easy ask finding a replacement skillset to transplant into a tinpot broken miner either
if majority of holders decided something was to happen ..

If privatised - as anyone may guess - there would be fair bit more A** kicking happening to see enhanced performance
and productivity and an end to all the BS & excuses with a refocus of things ..

Take a look around the other miners & explorers - who is producing, who is engaged in real productive exploration
with very definite prospects .. and who is pretending something may happen ?

[whatsup]

I see the quarterly excuse sheet has just been released !!

[Landyman]

Hmmmm, we have to get bigger to make processing viable????

"One of the previously identified options to process ore underground has
identified risks of a single operational entry 2m x 2m addit system at
Talisman has been the risks associated with any disruptions to operations and
the potential 'idling' of any plant throughout such disruption. This 'single
source' interruption risk makes the financing of any plant or the entering
into of processing arrangements with third parties challenging.
In addition operating in New Zealand, which has some of the most stringent
Health and Safety regulations in the world, and a complex system for
consenting, permitting and undertaking mine activities through multiple
stakeholders, means that the fixed initial costs can be significantly higher
than most other comparable countries for this type of mining. As a result of
this 'initial fixed cost hurdle' right sizing the scale of operations needs
to be managed carefully to ensure operation at an economic scale.

The Company has been pursuing ways to create efficiencies with other small
scale operators that have the ability to right size development and
production investment. This lead to the identification of the Broken Hills
operations, near Tairua on the Coromandel Peninsula."

But this sounds good
"Broken Hills have indicated that there may be potential to process ore on
behalf of Talisman with their existing plant and equipment as well as an
existing arrangement with a small scale processing facility for which the
Broken Hills team have exclusive access. A review of the treatment capability
is yet to be undertaken and will be a focus of the Due Diligence process."

Exclusive access??? Maybe someone in the Rabone family???

[nztx]

Must be a few more weekend hobby sized diggings throwing out a few mere grams
every once in a while - surely

Mind you - the amounts of ore they put out in 6 months would probably fit in a few shoeboxes under the CEO's desk
when they can be bothered migrating in for a weekend's break from the big smoke, and even then be dwarfed by
the executive briefcase carting out the shareholder's gold ..

Hang on a moment - what was the scale again ?

[Landyman]

$400k spent in the quarter, $1.5m left, so they are good for another 3-4 quarters. Oh dear

[nztx]

$400k spent in the quarter, $1.5m left, so they are good for another 3-4 quarters. Oh dear

That's before they start playing Ring a Ring a Rosies with what gets hidden under what company banner

Also before arrival of a further intake of new cash swallowing pet hobby projects probably generating SFA as
they currently stand

Possibly be a CAP RAISE when Coro Gold hits ASX and / or NZX as well so it has a bit of coin in the tin

Remember for all this deciding what goes in what Company Tin, the CEO & Team (when not away on holiday,
playing a bit of friendly cricket, deciding on next year's holiday away, and how many trips to Vanuatu are to slotted in,
or dodging large brick bats thrown their way) have unilaterally decided to be paid at a mere 80% of the contracted take

Of course it doesn't appear to matter one ioata that very little if any Revenue has landed in the corporate coffers
or much tangible progress has occurred across the duration for the remuneration still continuing to being shelled out
for their previously acclaimed glowing star project - Talisman shunted to one side seemingly crawling at snails pace if that..

The next rounds of Shareholder contributions (aka Company major Income source) however in near future are definitely
expected to be the full 100% extraction job for which all suckers sitting in line for the punishment will be subjected ..
unless alternative pots of new shareholder gold are located over yonder hill in larger amounts first ..

Remember - there be Gold in them there .. Hill - they have frequently called out ..