NTL - New Talisman Mine - New board & Directors

[nztx]

Hopefully the previous Chair & CEO/Director's comprehensive insurance covers were fully paid up

Prisoners wont likely be taken.. only the scalps to be mounted on the NTL Boardroom wall
as a momento of a large episode of successful reverse gold mining once achieved ..

[steveb]

I would just like to see a business plan,it's not to much to ask for is it?

[Sideshow Bob]

I would just like to see a business plan,it's not to much to ask for is it?

I think to be fair, it has only been a short time and plenty has happened in the last few weeks. CEO has gone and only just getting a new board together.

Company will need capital, and expect need to show a decent plan for any raise.

[nztx]

Share Consolidation on the way soon ?

may be necessary to pave the way for future Cap Raises ..

After all NTL may need a bit of coin in the tin to chase a few recently departed directors
if any glowing transgressions get tipped out on the table

[Landyman]

I think we are all hoping that Hill was just incompetent, and that was the reason that NTL arent extracting gold rather than there being real mining issues with it.

Time will tell. With Jonu (and his 84m shares) and Rabone jnr at the helm, theres a chance, once they have trolled through whatever info is at hand, the business case to production will be interesting, especially the cost to get there.

[Brain]

I think we are all hoping that Hill was just incompetent, and that was the reason that NTL arent extracting gold rather than there being real mining issues with it.

Time will tell. With Jonu (and his 84m shares) and Rabone jnr at the helm, theres a chance, once they have trolled through whatever info is at hand, the business case to production will be interesting, especially the cost to get there.

Yes the cost to get to production will be the issue. Looking back I can see that there was an honest intention to actively mine gold. This is obvious because of all the time and money spent on the mine rehabilitation and ventilation.
It all went to custard when they tried to get into the Dubbo vein and found that it was unsafe to mine that area. I believe that the high gold grades in that area were the low hanging fruit and was going to contribute substantially to progressing the mine. After the Dubbo collapse there was no good news just incomprehensible delays and bad decisions. Now we are left with a mine with access issues and restriction on blasts and no clear path to processing.
If they do need to raise a significant amount of money say north of 12M$ then that will dilute the shareholding of the current shareholders significantly. A very difficult situation. I find it very hard to see a positive side to this. I hope I am wrong.

[Paint it Black]

Yes the cost to get to production will be the issue. Looking back I can see that there was an honest intention to actively mine gold. This is obvious because of all the time and money spent on the mine rehabilitation and ventilation.
It all went to custard when they tried to get into the Dubbo vein and found that it was unsafe to mine that area. I believe that the high gold grades in that area were the low hanging fruit and was going to contribute substantially to progressing the mine. After the Dubbo collapse there was no good news just incomprehensible delays and bad decisions. Now we are left with a mine with access issues and restriction on blasts and no clear path to processing.
If they do need to raise a significant amount of money say north of 12M$ then that will dilute the shareholding of the current shareholders significantly. A very difficult situation. I find it very hard to see a positive side to this. I hope I am wrong.

Hi Brain - reading the 30 June 2019 quarterly activities report my understanding is that the Dubbo collapse was historical not a recent event caused by NTL as you possibly imply. The report describes how the work that quarter focused on making safe this access route and excavation of loose material. As the report says and you correctly point out this resulted in significant unexpected strengthening work and costs to work around the historical collapse but credit needs to be given to mining contractor that this was being successfully achieved.

[Getty]

Yes the cost to get to production will be the issue. Looking back I can see that there was an honest intention to actively mine gold. This is obvious because of all the time and money spent on the mine rehabilitation and ventilation.
It all went to custard when they tried to get into the Dubbo vein and found that it was unsafe to mine that area. I believe that the high gold grades in that area were the low hanging fruit and was going to contribute substantially to progressing the mine. After the Dubbo collapse there was no good news just incomprehensible delays and bad decisions. Now we are left with a mine with access issues and restriction on blasts and no clear path to processing.
If they do need to raise a significant amount of money say north of 12M$ then that will dilute the shareholding of the current shareholders significantly. A very difficult situation. I find it very hard to see a positive side to this. I hope I am wrong.

Very succinct summation Brain.

[Motley Crew]

Good point thanks for that

Will the dust ever settle on this one.
Doubtful.
Share consolidation and further capital raises, and continued diminution of shareholder value is all I can see in the future unless some definitive plan can be formalised to economically extract whatever gold is in them thar hills. As has been previously pointed out, the relatively small amount of gold recoverable will soon consume the US$800oz margin with capital expenditure on plant, or shipping elsewhere to extract the yellow stuff from the ore. While you wait for that, your 'investment' continues to head south. 12c a share SP is pie in the sky. There are simply too many issues both historical and current for any serious re-rating of the share price any time soon, if ever.
Sorry to pour cold water on the company's prospects but that is the reality we have been living with for a long time now. I wish Jonu all the very best trying to right the ship and enhance shareholder value, but with his significant stake in the company his move to be elected onto the Board was self-preservation of investment first and foremost.
Glad to be watching from the sidelines now........

[Paint it Black]

To me its obvious processing the stockpiled ore asap to generate revenue is key and I have confidence Jonu and Victor will soon advise progress on this.