NTL - New Talisman Mine - New board & Directors

[Paint it Black]

I attended the meeting and from memory there were no questions on the FMA and no further comments apart from the initial Chair address. Material info should be public knowledge. As to directors buying on market, they may be loathe to do that whilst a capital raise is in progress?

There is a share placement process in play which is at a premium to the current share price. Refer to the notice issued on the 24/8/22. This is not the same as a capital raise where shares are offered at a discount. The directors have in fact being purchasing on market while obviously disclosing this.

[Paint it Black]

Normally sell side at 0.003 is restocked to 16m+ whenever someone buys a million, seems to have stopped now and down to 13m - be interesting to see if that 0.003 wall starts to fall

Time will obviously tell but nice to see the 0.003 wall reducing another 2 million shares around noon. Even with gold processing scheduled for the second half of 2023 I hope the market will receive a steady stream of activity updates which will lift the SP well before then.

[blackcap]

Time will obviously tell but nice to see the 0.003 wall reducing another 2 million shares around noon. Even with gold processing scheduled for the second half of 2023 I hope the market will receive a steady stream of activity updates which will lift the SP well before then.

That's nice, but there is a "wall" of about 37m shares at 0.3 on the ASX. Now that the exchange rate is in the 80's makes things more interesting. If NZ were to go to 0.3 bid 0.4 offered, you would be best to buy in Aussie at 0.3 rather than in NZ at 0.4.

[Paint it Black]

That's nice, but there is a "wall" of about 37m shares at 0.3 on the ASX. Now that the exchange rate is in the 80's makes things more interesting. If NZ were to go to 0.3 bid 0.4 offered, you would be best to buy in Aussie at 0.3 rather than in NZ at 0.4.

The ASX listing should be dropped imho by the company as I believe it is more of a hindrance than a help. It is a bad hangover from the Hill Family days and must be costing a few $$$ to maintain. It recent times it has had very low turnover and is often stuck below the NZX SP and consequently restrained it. The growing exchange rate difference will further complicate things.

[swissboy]

A good idea. Many years ago I purchased all of my holding on the ASX because it was cheaper at the time. Now (with the exchange rate) it might be advantages for me.

[Curly]

More diluting of share value if there is any value left.

[haewai]

Am I reading this right?
There were 335m shares in the placement (to "sophisticated investors"): http://nzx-prod-s7fsd7f98s.s3-websit...090/354654.pdf
So a 1:3 bonus could've resulted in 111m new shares assuming the issued shares didn't change hands.
But only 8m bonus shares were issued. So only 7% of those 'sophisticated investors' still hold their alloted shares 12 months on.

[Paint it Black]

I think you are correct. The 'sophisticated investors' are noted as Australian investors in the placement and some were possibly connected to the Hill's who subsequently sold their holdings when the Board changed in October upon which the Rights Offer was withdrawn. This has fortunately then resulted in a minimal dilution of the SP. If Jonu & co had not taken the decisive action the 'sophisticated investors' in Australia would have been heavily tilting the company shareholding in their favour and the holdings of Hamish Brown and Jonu would have been severely diluted.

[Landyman]

Announcement today - rings a little bit of old Matty - innovative ways - didnt Matty want an army of snails to do the work?!?!!? hahah
"A number of mining methods are also being assessed, including production of a concentrate
underground, which has the potential to greatly reduce production costs and remove the need to
transport ore large distances within the mine. This will minimise environmental impacts both above
and below ground. The company is currently working on design and installation concepts to be tested
against production volumes, gold recovery efficiency, and costs.
The company is also examining other innovative ideas to maximise the knowledge gained of the mine's
gold resource during the Bulk Sampling phase."

Sellers increasing as buyers drop - 2023, and a few unknowns to conquer before this is a 10 bagger!

[dubya]

There's still this unused piece of expensive machinery lying around somewhere.......