NTL - New Talisman Mine - New board & Directors

**Paint it Black** · 15-02-2023, 09:20 PM

Originally Posted by Daytr

They are inferred resources. I had a previous life of financing gold mines in Australia so what would I know. Don't get me wrong the upside is significant, but it's a punt and should be viewed as such. The ASX rightly so doesn't view punts as valid estimates. Shame they have halted trading as it would give new investors to take the opportunity for a punt and those who don't want to the chance to exit.

Just for accuracy the JORC reports for the mine describe significant 'indicated' resources as well as 'inferred'. I've attached a reference describing the difference and how an 'indicated' resource importantly represents sufficient information to support mine planning. Perhaps we can therefore elevate 'punt' to 'educated punt'?

Inferred resources are estimated using limited geological evidence and sampling information, which means there’s not enough confidence to evaluate the project’s economic viability.

Subsequent surveys might uncover new information allowing a resources to be upgraded to “indicated“, meaning a company has sufficient information on geology and grade continuity to support mine planning.

**Baa_Baa** · 15-02-2023, 09:54 PM

Originally Posted by Paint it Black

Just for accuracy the JORC reports for the mine describe significant 'indicated' resources as well as 'inferred'. I've attached a reference describing the difference and how an 'indicated' resource importantly represents sufficient information to support mine planning. Perhaps we can therefore elevate 'punt' to 'educated punt'?

Inferred resources are estimated using limited geological evidence and sampling information, which means there’s not enough confidence to evaluate the project’s economic viability.

Subsequent surveys might uncover new information allowing a resources to be upgraded to “indicated“, meaning a company has sufficient information on geology and grade continuity to support mine planning.

Look PIB, you can defend this all you want, but there are people here who are very experienced in investing in precious metals mining, and some who have been around this company for over 20 years and it's all come to nothing, so far.

In fact it has been a very unrewarding experience. Sure, we have new bosses and that's encouraging. This time might be different but semantics won't change that this company is running out of capital and still needs to arouse its investors by 'proving' it has gold, and again they need more money to do that. To prove it.

That's what some investors, maybe the big money, will want, not probable, not inferred, or any other such nebulous description for 'we don't really know, but we need money to prove it to you'. If you want to put up a stake to help them 'prove it', good on you.

I don't, it's been too long and too uncomfortable to 'invest' any more $ in this. We have absolutely nothing more now, than we have had for many years, to give any confidence that this company has gold, can dig it up, can process it, or get it to market. Nothing. Think about it. Nothing. Just a new management. Is that enough?

**Paint it Black** · 15-02-2023, 11:05 PM

Originally Posted by Baa_Baa

Look PIB, you can defend this all you want, but there are people here who are very experienced in investing in precious metals mining, and some who have been around this company for over 20 years and it's all come to nothing, so far.

In fact it has been a very unrewarding experience. Sure, we have new bosses and that's encouraging. This time might be different but semantics won't change that this company is running out of capital and still needs to arouse its investors by 'proving' it has gold, and again they need more money to do that. To prove it.

That's what some investors, maybe the big money, will want, not probable, not inferred, or any other such nebulous description for 'we don't really know, but we need money to prove it to you'. If you want to put up a stake to help them 'prove it', good on you.

I don't, it's been too long and too uncomfortable to 'invest' any more $ in this. We have absolutely nothing more now, than we have had for many years, to give any confidence that this company has gold, can dig it up, can process it, or get it to market. Nothing. Think about it. Nothing. Just a new management. Is that enough?

Baa Baa all I want is accuracy and fair comment so that readers do not get misled and I'm not necessarily defending the current Board in fact the opposite sometimes. I've have had shares in the company for close to 20 years and attended many of the AGM's including those back in the HGD days in Parnell. Maybe you were there too? I agree with much of what you say. NTL is up against it without any gold on the table but perhaps it is worth a final try. I'll leave it that.

**blackcap** · 16-02-2023, 07:47 AM

Originally Posted by Paint it Black

Baa Baa all I want is accuracy and fair comment so that readers do not get misled and I'm not necessarily defending the current Board in fact the opposite sometimes. I've have had shares in the company for close to 20 years and attended many of the AGM's including those back in the HGD days in Parnell. Maybe you were there too? I agree with much of what you say. NTL is up against it without any gold on the table but perhaps it is worth a final try. I'll leave it that.

Reading the offer documents, I get the impression that the company is now focused on Mystery Vein, (they have gotten rid of distractions, settled with Matt Hill, cleaned up administrative overhang and are running a streamlined operation. They are going to give it a crack, and see if they can get gold out of the mine. They realise that is what is required, ie proof of concept, and they stated somewhere that this will be the last roll of the dice (my words but that is what I get from it).

That would be a whole lot better than playing it out and stringing shareholders along for perpetual cap raises like the previous lot seemed to do.

**blackcap** · 16-02-2023, 07:48 AM

Originally Posted by Daytr

Shame they have halted trading as it would give new investors to take the opportunity for a punt and those who don't want to the chance to exit.

I think you will find that trading has been restarted, in fact you could trade all day yesterday if you so wished.

**Daytr** · 16-02-2023, 08:26 AM

Thanks Blackcap & I pretty much agree with your assessment above. Any word on where they are going to get the extracted ore processed? Can Waihi process this type of ore?Estimated cost of production? Probably needs to be estimated in terms of tons of ore exracted rather than per ounce considering they don't know the grade? Capital costs for the underground mining?