NTL - New Talisman Mine - New board & Directors

**Paint it Black** · 10-02-2023, 09:47 AM

Rights offer announced buying at NZ1.8c for 3 out of 5 held. Very generous but also another large dilution to the faithful who have held on and those who recently paid 3c and even 4c.

**Snow Leopard** · 10-02-2023, 11:36 AM

Another 191M shares putting $3M4 in the piggy bank if fully subscribed.

In theory would be worth 2.1c a share after all done & dusted.

**Felonius** · 10-02-2023, 12:32 PM

Thank you John for entering onto the chat site with your comments. Such a big help in enabling us to obtain a clearer picture ...

Re the cash issue.
The combination of a low issue price for the shares at 1.8 cents per share and NO options suggests to me that our Board does not wish to issue any more shares than necessary (down the line) by offering options. In other words, they are trying to keep the issued capital as tight as possible.
This is good capital management.

**whatsup** · 10-02-2023, 12:37 PM

So WTF did those fish heads do for their money over the last 10 years ? !!

**Felonius** · 10-02-2023, 01:24 PM

Originally Posted by whatsup

So WTF did those fish heads do for their money over the last 10 years ? !!

It really is time to change your tune.
This is an entirely new board and I am impressed with the new directors.

**whatsup** · 10-02-2023, 01:50 PM

Originally Posted by Felonius

It really is time to change your tune.
This is an entirely new board and I am impressed with the new directors.

As a constant owner of Crusader Minerals from circa 1985/6 which has morphed via several name changes into its present NTL I think that I have every right to ask that question, I am a very patent ( read stupid s/holder ) who has subscribed to numerous C R funding rounds since that date and have every right to ask about director/fish head performance, my cheques did not bounce so why should their performance/duties. !!

**ThaiJohn** · 10-02-2023, 01:53 PM

I agree with you whatsup. I too would like to know what the previous 'fish heads' did for the last 10 years.

**Paint it Black** · 10-02-2023, 07:59 PM

Originally Posted by Snow Leopard

Another 191M shares putting $3M4 in the piggy bank if fully subscribed.

In theory would be worth 2.1c a share after all done & dusted.

So the die is now cast and the stakes are very high for the survival of NTL. Large shareholders such as Hamish and Jonu have seen the market value of their holdings reduced by 25% today and if the rights offer is not subscribed adequately can lose much more. As it pleasingly is an uncomplicated offer without options (they have never been exercisable with NTL in the past) and imho pitched at a very discounted price I think it is a good throw of the dice especially with all the 'skin in the game'. It is now up to the Board to sell the offer in the best possible way well before the 10/3/23 Closure Date. Shareholders should be given a cashflow projection through the next year based on the finalised budget forecasts to show how the $3.4M would be utilised if fully subscribed. What are the consequences if there is only a 50% uptake? Is there any underwriting (cannot see it)? Has a processor been found. How advanced is the concentrator etc? In these times no one will throw good money after bad so we need to be confident it will come off. Fingers and toes crossed!