NTL - New Talisman Mine - New board & Directors

[nztx]

From the SPP offer in 2017, the year NZTX's post shows 6M+ in capital received.


https://www.nzx.com/announcements/307227

I've exchanged the font colour to red for the things I believe still haven't been accomplished.

As outlined in the offer document the funds raised from the SPP will be used:

• To accelerate developments into the high grade JORC 2012 resources which in Dubbo alone doubled to 312,800oz gold equivalent at 21.98g/t; and increase production levels to the maximum allowable under the resource consent being 20,000 cubic metres per annum
• To investigate and develop multiple sampling operations on the Talisman permit area
• To install a pilot plant for underground concentration of ore which will reduce tonnage by 80% while increasing grade by a factor of approximately 4 times in concentrate form
• To gain access into level 9 and 10 and commence further extraction operations at deeps levels of the mine recently announced
• To accelerate completion of a bankable feasibility study
• To finalise toll treatment either in NZ or export of concentrate offshore
• Expand exploration programs aimed at building a +1m ounce minerals inventory
• To explore and implement initiatives to expedite activity, and potentially a greater interest in Rahu and other targeted areas such as Taukani Hill (where previous bonanza samples at surface were taken) and Dominion knoll which is highly prospective.
• To fund alternatives that may allow full mining at Talisman including alternate access to the orebody.

The $6.373 million Cap Raise was in the 2016-2017 - 31 March 2017 year - reported in Sep 2016 Quarter cashflow report

The next $1.925 million Cap Raise was in the 2017-2018 - 31 March 2018 year - reported in Dec 2017 Quarter cashflow report

The announcement on 14 Sep 2017 appears to be the latter $1.925 million raise by looks of things

http://nzx-prod-s7fsd7f98s.s3-websit...601/273710.pdf

Following the second of the two raises, (the $1.925 million Cap Raised) NTL reported closing Cash on hand at 31 Dec 2017
end of quarter of $5.457 million

It is quite pertinent to note that was NO Capital Raise in the next 4 Quarters up to 31 March 2019

If the intended wasn't completed, perhaps Cash raised may have instead gone to other things, like Administration etc ?


The next Cap Raise was the $3.626 million which came into NTL's Quarterly Cashflow Report for quarter
ended 30 Sep 2019 - falling in the 31 March 2020 year's summary

http://nzx-prod-s7fsd7f98s.s3-websit...562/310961.pdf

[dubya]

Regarding nztx and Wetas posts above.
It's just shocking isn't it!?

fraud (frɔːd)
n
1. deliberate deception, trickery, or cheating intended to gain an advantage
2. an act or instance of such deception
3. something false or spurious: his explanation was a fraud.
4. informal a person who acts in a false or deceitful way

I believe I can see at least two of them ticked. I'm sure some people would see all four

[nztx]

Shall we look at the excuses offered (sorry Reason for Putting the Hand out) for the other two Cap Raises ?

Let's face it - the earlier of the three is only a mere THREE times the Dough raised on 14 Sep 2017 Cap Raise

What was carried forward not completed from that larger one ?

[Weta]

The $6.373 million Cap Raise was in the 2016-2017 - 31 March 2017 year - reported in Sep 2016 Quarter cashflow report

The next $1.925 million Cap Raise was in the 2017-2018 - 31 March 2018 year - reported in Dec 2017 Quarter cashflow report

The announcement on 14 Sep 2017 appears to be the latter $1.925 million raise by looks of things

Yes NZTX, you seem to be right.

Speaking of right, lets look at the $.005 rights issue Bullish was always so quick to defend (from his relentless argument to buy shares & then flip them off at the perfect point in time when the SP had risen) all in hindsight naturally.

This time NTL was kind enough to give a list that was prioritized. However, they seem to have used a different prioritization sequence then I'm accustomed to. It appears they started with the highest number & worked towards the lower number.


http://nzx-prod-s7fsd7f98s.s3-websit...758/235905.pdf


5.0 BUSINESS OVERVIEW

Summary of application of funds raised The Company intends utilising the funds raised through this offer as follows in order of priority:

1. Initiating the bulk sampling programme and associated works immediately following completion of the raise
2. Accelerating the bulk sampling programme to maximise ore extraction within the terms of the granted resource consents and traffic management plan
3. Complete the feasibility study on the project
4. Accelerating the transition from bulk sampling to Phase 1 of the longer term production plan
5. Identifying additional gold mineralisation that could be upgraded to JORC 2012 compliant resources from the recently acquired digital historic production data and new exploration targets within the permit
6. Fund the Company’s obligations under the Rahu Joint Venture with Newcrest Mining.
7. Working Capital


I know that I never parted with any of my hard earned for NTL to buy a hobby/tourist mine or a holiday home out in the ring of fire somewhere before they accomplished what they said they would be doing with the capital first.

Where's the 1 tonne of ore sent out for testing? I want my .00000001% portion of the gold it contained.

[Brain]

Hopefully Jonu’s involvement will shed some light on the intention of the company. The minutes of the previous board meetings could make interesting reading.

[Bluemanarc]

Its sobering reading.
Just as long as none of those Admin costs were finding their way into Matt's or directors pockets.

[Weta]

Australian takeover of Coromandel mine a 'Trojan horse' - conservation watchdog


https://www.msn.com/en-nz/news/national/australian-takeover-of-coromandel-mine-a-trojan-horse-conservation-watchdog/ar-AAP58wG?ocid=msedgdhp&pc=U531

[Landyman]

Good pickup Weta - that said, Broken Hills has produced more gold that Talisman in the last 2 decades.

Jonu, think you have a mountain to climb trying to get the rest of the Board to be realistic/commercial.

[whatsup]

Yes NZTX, you seem to be right.

Speaking of right, lets look at the $.005 rights issue Bullish was always so quick to defend (from his relentless argument to buy shares & then flip them off at the perfect point in time when the SP had risen) all in hindsight naturally.

This time NTL was kind enough to give a list that was prioritized. However, they seem to have used a different prioritization sequence then I'm accustomed to. It appears they started with the highest number & worked towards the lower number.


http://nzx-prod-s7fsd7f98s.s3-websit...758/235905.pdf


5.0 BUSINESS OVERVIEW

Summary of application of funds raised The Company intends utilising the funds raised through this offer as follows in order of priority:

1. Initiating the bulk sampling programme and associated works immediately following completion of the raise
2. Accelerating the bulk sampling programme to maximise ore extraction within the terms of the granted resource consents and traffic management plan
3. Complete the feasibility study on the project
4. Accelerating the transition from bulk sampling to Phase 1 of the longer term production plan
5. Identifying additional gold mineralisation that could be upgraded to JORC 2012 compliant resources from the recently acquired digital historic production data and new exploration targets within the permit
6. Fund the Company’s obligations under the Rahu Joint Venture with Newcrest Mining.
7. Working Capital


I know that I never parted with any of my hard earned for NTL to buy a hobby/tourist mine or a holiday home out in the ring of fire somewhere before they accomplished what they said they would be doing with the capital first.

Where's the 1 tonne of ore sent out for testing? I want my .00000001% portion of the gold it contained.

weta, Could someone please tell mew where the previous C R funds have been used in relation to this "wish list " ?

[Weta]

weta, Could someone please tell mew where the previous C R funds have been used in relation to this "wish list " ?

NZTX alluded to this earlier in the thread...

If the intended wasn't completed, perhaps Cash raised may have instead gone to other things, like Administration etc ?

Don't forget the brand new toy concentrator, which we paid good money for, that we've got sitting rotting away somewhere. What's the plan for that, or are we just paying rent for a self storage shed somewhere until shareholders forget about it?