NTL - New Talisman Mine - New board & Directors

[whatsup]

Cons completed and the fall continues !!

[ThaiJohn]

Might see a reversal when they produce some of the gold stuff. Until then the SP aint goin anywhere.

[Paint it Black]

Cons completed and the fall continues !!

As you would expect with the up coming rights offer having to be tempting enough to buy into. Sometime in February. I wonder if the Board has found an underwriter? At least now we are dealing in SP increments a tenth of that previously. A damned pity they can't delay and spice the offer up with an ingot or two from the remaining funds!

[blackcap]

As you would expect with the up coming rights offer having to be tempting enough to buy into. Sometime in February. I wonder if the Board has found an underwriter? At least now we are dealing in SP increments a tenth of that previously. A damned pity they can't delay and spice the offer up with an ingot or two from the remaining funds!

I agree with your sentiments, but I doubt there would be enough funds available to get an ingot currently and that is why they have signaled a rights issue.

[Paint it Black]

I agree with your sentiments, but I doubt there would be enough funds available to get an ingot currently and that is why they have signaled a rights issue.

Yes but wind back to September 2021 when Jonu cancelled the proposed rights issue by Matt. What has happened since? Additional Board members who I worry are being too conservative. Without the ingots the rights issue is yet again going to rely on JORC reports and lots of pretty words as in the past and is in danger of failing unless seriously underwritten (which I doubt). Better imho would have been to focus on how some gold extraction could be achieved with the $500K still available. This is a significant sum and surely enough to obtain an ingot or two! Jonu has said his focus was gold extraction but unfortunately he has now become distracted doing a consolidation then a rights issue costing precious funds. The success of the rights issue would have been greatly improved with some tangible evidence punters can get excited about.

[jonu]

Yes but wind back to September 2021 when Jonu cancelled the proposed rights issue by Matt. What has happened since? Additional Board members who I worry are being too conservative. Without the ingots the rights issue is yet again going to rely on JORC reports and lots of pretty words as in the past and is in danger of failing unless seriously underwritten (which I doubt). Better in imho would have been to focus on how some gold extraction could be achieved with the $500K still available. This is a significant sum and surely enough to obtain an ignot or two! Jonu has said his focus was gold extraction but unfortunately he has now become distracted doing a consolidation then a rights issue costing precious funds. The success of the rights issue would have be greatly improved with some tangible evidence punters can get excited about.

Hi Paint it Black

I'm John Upperton, a Director of New Talisman.

I appreciate you are genuine in your post and not merely stirring the pot, but there are some factual inaccuracies I should respond to. I am not in a position to get into a back and forth debate with you, but may respond more fully in the future.

I did not cancel the previous Rights Issue. That was done by the Chair at the time, who is no longer on the board, and was not my call. The cancellation resulted in a small amount of funds being returned.

The 500k you refer to is not enough to comply with required regulatory requirements, return underground, produce ore and refine to ingots, while remaining solvent and meeting the listing requirements of the exchanges.

We have not been distracted by a consolidation. There are reasons why this was required.

Rest assured the Board is focused on bringing Talisman into production. It has been 16 months since the Boardroom coup. There were sundry legacy issues to deal with that won't be immediately obvious to shareholders. They have been dealt with. I'll leave it at that.

I appreciate the patience and support I have had from many posters here.

Cheers Jonu

[nztx]

Hi Paint it Black

I'm John Upperton, a Director of New Talisman.

I appreciate you are genuine in your post and not merely stirring the pot, but there are some factual inaccuracies I should respond to. I am not in a position to get into a back and forth debate with you, but may respond more fully in the future.

I did not cancel the previous Rights Issue. That was done by the Chair at the time, who is no longer on the board, and was not my call. The cancellation resulted in a small amount of funds being returned.

The 500k you refer to is not enough to comply with required regulatory requirements, return underground, produce ore and refine to ingots, while remaining solvent and meeting the listing requirements of the exchanges.

We have not been distracted by a consolidation. There are reasons why this was required.

Rest assured the Board is focused on bringing Talisman into production. It has been 16 months since the Boardroom coup. There were sundry legacy issues to deal with that won't be immediately obvious to shareholders. They have been dealt with. I'll leave it at that.

I appreciate the patience and support I have had from many posters here.

Cheers Jonu

Keep up the good work - Jonu & fellow NTL Board members

Many have been onboard a long time since the days of Peter Atkinson
awaiting what your team are heading towards achieving..

[Paint it Black]

Thanks Jonu for filling in the background around the Rights Offer cancellation - I can assure you I'm not stirring the pot having been a passionate Top 20 shareholder for many years (up to when I read about the latest Rights Offer but still hold quite a few to possibly participate) and one who applauded the Coup. I also do not want to get into a back and forth debate, as I know it is now difficult for you, but would just like to expand on the reasoning I thought it was your decision and I've attached the announcement re the Rights cancellation on the 8/10/21 below to assist a quick read.

8th October 2021
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(ASX, NZX: NTL, NTLOB)
FOR IMMEDIATE RELEASE

Shareholder Update - Rights Offer

In light of recent changes to the Board composition that have occurred it has
become apparent there are differing views, and some discord, amongst the
reconstituted board about the broader direction of the company, which
prompted the application for a trading halt.
The Board met on 7 October for a lengthy discussion on these and other
matters and reached the conclusion that the reconstituted Board are no longer
confident that the strategy outlined in the Rights Offer document can be
fulfilled in a timely manner, as was anticipated by the previous Board.
The Company has therefore decided to withdraw the Rights Offer until such
time as a clear and united path forward can be found at which point it can
revisit its capital requirements and any capital raising plans.
All funds received by the company pursuant to the withdrawn Rights Offer will
be returned.

Ms Jane Bell
Company Secretary
New Talisman Gold Mines Limited
Direct +64 21 764 224
jane@newtalisman.co.nz

You would be aware Stevens retired the day before and Chairman Nader on the same day as the cancellation announcement. Jane and Matt then resigned on the 11/10/21. It therefore seems reasonable to believe it was your influence, if not your actual decision (my apologies for being simplistic here), that the Board (not Nader) decided to cancel the Issue as all the long serving remaining Board members (who had previously wanted the Rights Issue) resigned either the same day or shortly after.

As the man at the centre of the Boardroom Coup you obviously know far more of the background than I do! I can only go on what I read in the announcements and try and join the dots. If you can respond more fully in the future it would be appreciated but no hurry!

I hear what you are saying re the limitations of the $500K to meet regulatory requirements etc etc but was suggesting more focus was applied to extract and process just a small amount of ore to best physically prove to shareholders who are considering participation, after waiting for decades and weathered several Rights Offers and false expectations, that gold can be produced from the mine. Some time in the future I would also welcome understanding why this approach was not followed. Possibly it is triggering the Bulk Sampling window which makes this awkward or new safety issues?

Thanks again.

[Landyman]

Nice to see you post here Jonu - also enjoy that you were clear who you are (Matty, you still watching this board?). Good luck, you have given us some hope and some clear milestones for 2023 - fingers crossed you can pull it off.

Discl, my holidings are very modest, but after 15yrs of HGD/NTL, surely this will be the last CR, last throw of the dice.

[blackcap]

Nice to see you post here Jonu - also enjoy that you were clear who you are (Matty, you still watching this board?). Good luck, you have given us some hope and some clear milestones for 2023 - fingers crossed you can pull it off.

Discl, my holidings are very modest, but after 15yrs of HGD/NTL, surely this will be the last CR, last throw of the dice.

Yes I agree, it would be nice to see John posting more about the progress of the company and where they are at. NZO used to have John Pagani employed in that role and he would explain things on this forum. The CEO of Turners, Todd Hunter, also posts on sharetrader. It is nice to have company insiders (with full disclosure) explain points that would otherwise remain elusive from company announcements only.

Maybe John you can be a more regular contributor on this thread?