NTL - New Talisman Mine - New board & Directors

[Bluemanarc]

This may be the last time anyone can ever buy this share under 1c, very interesting times ahead this year.

[jonu]

I thought you were out Bluemanarc.

[haewai]

Still talking, planning, designing. Not mining or processing.

[blackcap]

"The planning assessment for resource consent application for the long
term mine has been completed and subject matter specialists are being
recruited. Once the application is submitted the external stakeholders
will determine the timing and pathway to long term consenting for the
mine. With less than minor environmental effect from the mine
development the company is confident in securing the resource consents
to mine for the duration of the Mining Permit. "

Could be a while before anything of substance happens.

[jonu]

Quarterly due in 2 weeks. Things we need to see in no particular order.

1. Deal in place with mining contractor/partner
2. Plan in place to cross the difficult void.
3. Update on preparation of R/C for full mining.
4. Delivery of Peer Review confirming JORC

Quarterly has been released.

Point1. Tick
Point 2. No direct clarification but talk of planning for strategic mine development etc
Point3. Tick
Point4. Tick with a wink. Says it's not quite complete but they are pleased with the "positive outcome".

[jonu]

"The planning assessment for resource consent application for the long
term mine has been completed and subject matter specialists are being
recruited. Once the application is submitted the external stakeholders
will determine the timing and pathway to long term consenting for the
mine. With less than minor environmental effect from the mine
development the company is confident in securing the resource consents
to mine for the duration of the Mining Permit. "

Could be a while before anything of substance happens.

They can mine under the bulk sampling and now have an agreement in place to do that and at the same time have the upscale plant built for them. Could be a matter of a few months.

The report refers to "near term extraction of high grade ore in Dubbo"

[Chippie]

Quarterly has been released.

Point1. Tick
Point 2. No direct clarification but talk of planning for strategic mine development etc
Point3. Tick
Point4. Tick with a wink. Says it's not quite complete but they are pleased with the "positive outcome".

I am happy with the progress and update, expanding on the summary from Jonu. It looks like option “A” was for OceanaGold to process the ore, and their decision to be placed on care and maintenance means NTL go with Option “B” which looks like Terra Firma. The good news is they have been progressing this as an option over the past 2 quarters. I do believe that bulk sampling is close now, and bet on it happening this quarter.

Key extracts for me from the quarterly are
- final requirements for a larger plant consent, which requires data on both the recovery rate and sand produced after processing, is being accelerated in order for the processing of extracted ore to take place in the coming months.
- gravity processing in batches at either the pilot plant (with some upgrades) or the larger plant to commence in the near term.
- aim to accelerating gold production from the bulk sampling project.
- The planning assessment for resource consent application for the long term mine has been completed and subject matter specialists are being recruited.
- Design work on the commercial scale plant is proceeding according to schedule and enquiries have been placed with equipment suppliers
- Securing resource consent to enable the Company to extract the maximum possible value from the mines high grade mineral resource over the ten year plus mine life is a high priority.
- This assessment is complete and has identified a number of technical assessments that will be required to underpin the resource consent application. …there are some aspects that need addressing by subject matter experts and these are currently being sourced for availability and cost estimates.
- Mineral Resource Estimate The peer review of the updated Mineral Resource estimate as was announced late in 2019 for the Talisman Mine is nearing completion with no material issues identified. The review process has been very thorough, and the Company is heartened by the positive outcome. Life of mine planning and mine design, supported by the peer reviewed mineral resource estimate, is well underway.
- The plan will also identify areas, both within the bounds of the existing mine and the larger permit area, with the potential for economic ore deposits and suggest an exploration strategy to quantify potential mineral resources in those areas for later inclusion in the planning cycle

[Chippie]

for disclosure, my "bet" is represented by a large % of my portfolio in NTL. But do consider this a high risk investment rather than a bet

[jonu]

Gold sitting at NZD $2430 an oz this morning. On earlier figures and not knowing the cost structure with Terra Firma that represents approx $1500NZD per oz profit for NTL, not allowing for silver. Even the bulk sampling phase will be extremely profitable at these levels. Let's hope they stick to somewhere near the 8000 ounces produced mentioned earlier.

Let's see, 8000 x 1500 = 12,000,000.

With indications that the JORC review is coming in on target there's another 430,000 odd ounces to look forward to after that. Current market cap 21.5 million. Do the maths!

[Lion]

Do the maths!

I did. I got $645,000,000