NTL - New Talisman Mine - New board & Directors

[Lion]

Buyers at 0.1c in Aus now.
I feel the CR is doomed - (maybe the company is too)

PiB, is Rabone Jr up for election this time?? It's not on the NoM, is it?

[Paint it Black]

Buyers at 0.1c in Aus now.
I feel the CR is doomed - (maybe the company is too)

PiB, is Rabone Jr up for election this time?? It's not on the NoM, is it?

Yes Resolution 2 nominates Victor Rabone his son.

[zacman]

The current Board must be getting worried ... last night while I was cooking tea (not a good time ) I received a phone call from an Australian number. After confirming that I had received the Notice of Meeting etc, she began to go through the various resolutions, emphasising the Boards recommendations. I told her that I would not be following their advice and that I would be voting in favour of Mr Udderfield. She asked why and I explained the failings of the Board. She thanked me for my feedback and hungup.

If such canvassing is being paid for by the company then the outcome of such canvassing should be made available

zacman

[jonu]

The current Board must be getting worried ... last night while I was cooking tea (not a good time ) I received a phone call from an Australian number. After confirming that I had received the Notice of Meeting etc, she began to go through the various resolutions, emphasising the Boards recommendations. I told her that I would not be following their advice and that I would be voting in favour of Mr Udderfield. She asked why and I explained the failings of the Board. She thanked me for my feedback and hungup.

If such canvassing is being paid for by the company then the outcome of such canvassing should be made available

zacman

Thanks for the support zacman. Although I must admit I have never been called "Udderfield" previously. :D

Did the caller identify themselves?

[Bluemanarc]

I am now upset they are going to steal my remaining 1,000 shares.

I love looking at that big fat red number on my trading board to remember my lesson well.

[Landyman]

Have we seen a date for the FMA v Hill case? Guess Covid, and his relocation to Sydney might have slowed the process.

[Bluemanarc]

Yes Resolution 2 nominates Victor Rabone his son.

Yep, worth checking Mat isnt electing the dead dad on to the board, wouldnt put it past him doing a "Weekend at Bernies" on the shareholders.

[nztx]

I am now upset they are going to steal my remaining 1,000 shares.

I love looking at that big fat red number on my trading board to remember my lesson well.


Don't be too worried - if you let them go - you should be able to replace them for a fraction of your
previous cost via Sharesies & be spared receiving all the NTL junkmail while held there as well ;)


Look at it this way - the entertainment will still be free, but you wont directly receive any further
requests for donations of ever increasing loose coin to be thrown down a bottomless pit .. ;)

[nztx]

Gee - are NTL canvassing their shareholders on the Share Register now - trying to drum up voting
in support of the Board's amazing pronouncements on who to not support / support etc etc ?

Two reported cases so far on here :)

must be a heap more unreported out there too ..

Is this a variation of some sort of Aussie under-arm bowling session seen across the ditch ? ;)

It's surprising that the Board's Antics haven't been reported to NZReg for NZX to consider
what sort of wet bus tickets they can throw / how many for the said conduct .. ;)

With the volume of issues coming out on NTL, NZReg should establish a separate desk & complaints line
to solely deal with all the NTL issues coming forth ;)

[Getty]

They rang me too.

I had to make a wyse decision, so I said I was in behind Udderfield.

They said that sounds like a cow that should be put out to pasture, lol

[dubya]

Buyers at 0.1c in Aus now.
I feel the CR is doomed - (maybe the company is too)

80% of the trades yesterday (just over 8 million) went through at 0.002c.
Traded in Australia as low as AUD 0.001c.

I thought about backing the truck up, but then realised I'd missed the record date for determining entitlements to the rights issue.

Very remiss of me ;)

It was those 'loyalty shares' I was really after too ;)
They've been a real winner in the past. So have those options. :scared:

So.......for all intents and purposes.......Has the mine at Karangahape now been abandoned!?

[nztx]

80% of the trades yesterday (just over 8 million) went through at 0.002c.
Traded in Australia as low as AUD 0.001c.

I thought about backing the truck up, but then realised I'd missed the record date for determining entitlements to the rights issue.

Very remiss of me ;)

It was those 'loyalty shares' I was really after too ;)
They've been a real winner in the past. So have those options. :scared:

So.......for all intents and purposes.......Has the mine at Karangahape now been abandoned!?


All them Loyalty Shares being offered for getting Consolidated on & Round after Round of being diluted down

At AU 0.001 - can it slide any lower in a crack in the rocks ? ;)

Rumour has it that there is a CEO's Office, Desk & Luxury Chair which is currently vacant somewhere in
Auckland after it's usual occupier fled the scene for Aussie in a hurry ;)

From this - everyone can use their own judgement on what is happening at Karangahape .. ;)


Did most guess @ SFA upon consideration that HILL is alleged to have run away & moved his A*S off to Sydney ? ;)

How much is NTL paying HILL while he is parked up in Sydney & likely SFA tangible development is happening here ? ;)


That must be why the Current Cap Raise is being done - to help raise coin into coffers to pay for a PART-TIME CEO on FULL PAY
to park up over in OZ ;)

[Brain]

All them Loyalty Shares being offered for getting Consolidated on & Round after Round of being diluted down

At AU 0.001 - can it slide any lower in a crack in the rocks ? ;)

Rumour has it that there is a CEO's Office, Desk & Luxury Chair which is currently vacant somewhere in
Auckland after it's usual occupier fled the scene for Aussie in a hurry ;)

From this everyone can use their own judgement on what is happening at Karangahape .. ;)

Thats the point of doing a share consolidation. 1/1000 consolidation will make the shares worth a $1.00 and then it cannot be called a penny dreadful. When those shares are worth 0.1c as they surely will with the current board it will be rinse and repeat.

[nztx]

Thats the point of doing a share consolidation. 1/1000 consolidation will make the shares worth a $1.00 and then it cannot be called a penny dreadful. When those shares are worth 0.1c as they surely will with the current board it will be rinse and repeat.

It looks that way..

The Company could have disclosed what sort of Consolidation they are planning - that is before issuing more shares
raising coin off stakeholders

But that didn't happen either.

No matter what they consolidate by or to - it still wont change what is there, within the NTL Companies ; past track
record & distinct lack of tangible progress over a long period of time, a CEO being very well paid with little happening apart
from coming up with a further pile of dreams (who knows without further Cap Raises - the further dreams may
likely to turn out the same way as Karangahape - progressing nowhere fast, if at all) ;)


If you have been or are a holder in NTL then on what has been seen - you are justified in being a skeptic - right ? ;)

[jonu]

The Notice of Meeting notes that questions are best submitted by 1pm Monday at https://ntlagm2021.chimeagm.live

It says they "will try and address as many of the more frequently raised relevant questions" which is rather evasive in my view, However, the following questions may be of interest to shareholders

1. How is the CEO able to perform his duties from Sydney?

2. Why was the recent Placement described as being "on the same terms" as the Rights Issue, when the recipients of the new shares could not have been eligible for that same quantity of Rights?

3. Why has the Placement and Rights Issue been conducted at approx 70% discount to the previous 2019 SPP?

4. Does the Chair think the Company has been well served during his tenure, which has seen the Company Market Cap shrink by more than 75% since he became Chair?

If these concern you, ask them yourselves. The more people asking the same questions, more pressure they are under to address them.

[Weta]

The Notice of Meeting notes that questions are best submitted by 1pm Monday at https://ntlagm2021.chimeagm.live

It says they "will try and address as many of the more frequently raised relevant questions" which is rather evasive in my view, However, the following questions may be of interest to shareholders

1. How is the CEO able to perform his duties from Sydney?

2. Why was the recent Placement described as being "on the same terms" as the Rights Issue, when the recipients of the new shares could not have been eligible for that same quantity of Rights?

3. Why has the Placement and Rights Issue been conducted at approx 70% discount to the previous 2019 SPP?

4. Does the Chair think the Company has been well served during his tenure, which has seen the Company Market Cap shrink by more than 75% since he became Chair?

If these concern you, ask them yourselves. The more people asking the same questions, more pressure they are under to address them.

I've added ~

"In what manner has the CEO been disciplined for breaching NTL's Shareholder Communication Policy? ("The Board has directed that no member of staff or the board should post on any online forum without prior board approval and anyone who represents the company must clearly state that they are a representative of the Company.")

[dubya]

I've added ~

"In what manner has the CEO been disciplined for breaching NTL's Shareholder Communication Policy? ("The Board has directed that no member of staff or the board should post on any online forum without prior board approval and anyone who represents the company must clearly state that they are a representative of the Company.")

Excellent point Weta.

fiefdom /ˈfiːfdəm/

noun: fiefdom; plural noun: fiefdoms

1. territory or sphere of operation controlled by a particular person or group.
"a mafia boss who has turned the town into his private fiefdom"


In a fiefdom the boss or bosses just do whatever they want. They don't explain themselves to anyone, and they protect the trough to the best of their ability so as to feed regularly from the said trough while all others regularly replenish the trough, and who are ultimately nothing more than pawns in the exercise.

I'll be surprised if NTL supply an answer to your question Weta. If so, they'll fudge it by using words like 'before the courts' - 'sub judice' - 'inappropriate to comment' - 'allegations are unproven' etc.
I'll be surprised if they answer Jonus questions above too, but if they do, it'll just be rhetorical spin designed for those who still hold on to the dream.
At all costs.....that fiefdom trough has to be replenished!! :cool:

[jonu]

I've added ~

"In what manner has the CEO been disciplined for breaching NTL's Shareholder Communication Policy? ("The Board has directed that no member of staff or the board should post on any online forum without prior board approval and anyone who represents the company must clearly state that they are a representative of the Company.")

Hi Weta
I think they may have added that after the "bullish" stuff blew up. Definitely worth asking though.

[nztx]

And just whom does everyone think wears the pants on NTL's Board - obviously it wont be the fill in Tea Lady,
a Hobby Miner's son, or a stand in Finance-O hailing from Oz sitting on the sideline in case someone else
gets knocked out of the play .. ;)

Who is governing who ?

Perhaps they thought no-one would notice a small policy change after the event ? ;)

Good questions Jonu btw

[Motley Crew]

Thats the point of doing a share consolidation. 1/1000 consolidation will make the shares worth a $1.00 and then it cannot be called a penny dreadful. When those shares are worth 0.1c as they surely will with the current board it will be rinse and repeat.

I figure the consolidation will be 1:10 bringing total issued capital back to 500m shares post capital raise (if fully taken up - I leave you to decide whether or not you think that is likely). This would take the SP up to 2c
Anything greater than a 1:10 would make the consolidated SP too high for a company essentially doing nothing. At 1:100 (leaving just 50m shares on issue), the SP would be 20c. No-one will pay 20c for these shares as they will soon be worth just a fraction of that, and the value of the company will decrease dramatically (market cap that is, not real value which is pretty much NIL anyway - maybe NIL would be a better ticker code going forward than NTL ?)
With a consolidation of greater than 1:10, the number of shares held by many shareholders, once the SP continues to drop, would leave them with unmarketable parcels. Would these shareholders continue to consider supporting future capital raises if they only owned 10,000 shares worth (consolidated) 5c or less ? The company cannot risk that, or risk the 'value' of the company falling to insignificance. Remember a few years back (2017) when the SP spiked to 2.5c - there were 2b shares on issue after the 3:1 issue at .005, giving the company a market cap of $50m. Now with just over 3b shares on issue the market cap is just $6m or $9m (or A$3m as of last Friday if you have shares on the Ozzie exchange) If you participated in that capital raise in 2016, you have now lost 60% - 80% of the funds you 'gave' the company. It could yet get worse after the consolidation.
So any consolidation has to take into account a realistic consolidated SP post consolidation, a big enough capital base for the company to work with for future capital raises, and also leave shareholders with enough shares that they don't consider the number they are left with as so insignificant such that they give up on the company altogether. (An owner of 5m shares being reduced to 50k, 100k or even 200k post consolidation would be pretty p***ed off as they watch the SP sink from its theoretical adjusted price). I am talking about those shareholders here that aren't regulars to this forum, i.e. those who fall into either of the 2 camps of either being 100% sceptics who have already given up, or the eternally and misguided Hopefuls watching their 'investment' $$ evaporate.
A consolidation factor too small (such as 1:5) still leaves 1b shares on issue and the SP at an unattractive 1c, so future capital raises will still have to be pitched at the sub .01 level, just hastening the SP decline back to where we are now, and making it impossible for significant sums to be raised from shareholders at subsequent capital raises. But it really doesn't matter, the decline from 2c ( @1:10 consolidation) will still happen - it will just be a more slow, lingering death, but provide the company with more headroom to continue fleecing shareholders over the medium term with more capital raises.
What value the 'loyalty shares' once consolidated ? The company proudly reported after the last loyalty scheme that holders had made 20% - 40% on their loyalty shares. Now they have lost 60%+ and will lose even more post consolidation.
Continue to give this company a wide swerve.

[Weta]

Hi Weta
I think they may have added that after the "bullish" stuff blew up. Definitely worth asking though.

If that is the case then the board have a very easy answer to this shareholders question!


This might be of interest to you Jonu if you're still considering legal action against the company.

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/94DB65B17CCA94A8A9332DD6D92E2C75

In article #6 they are claiming that all new shares are to be purchased with CASH. Therefore a cheque or internet banking would be ruled out.

Maybe they'd like to provide us with a picture of AU$670,000.00 (of OUR money) from the resent placement piled up on the board room table!

[Landyman]

I would have thought they would have accepted payment in bullion

[Paint it Black]

The Notice of Meeting notes that questions are best submitted by 1pm Monday at https://ntlagm2021.chimeagm.live

It says they "will try and address as many of the more frequently raised relevant questions" which is rather evasive in my view, However, the following questions may be of interest to shareholders

1. How is the CEO able to perform his duties from Sydney?

2. Why was the recent Placement described as being "on the same terms" as the Rights Issue, when the recipients of the new shares could not have been eligible for that same quantity of Rights?

3. Why has the Placement and Rights Issue been conducted at approx 70% discount to the previous 2019 SPP?

4. Does the Chair think the Company has been well served during his tenure, which has seen the Company Market Cap shrink by more than 75% since he became Chair?

If these concern you, ask them yourselves. The more people asking the same questions, more pressure they are under to address them.

Thanks Jonu - I've also forwarded these questions. I'm concerned, as you may also be, that several posters are condemning NTL the company as if it has no future at all. Under the right management which needs you and other hardworking focussed team members imho there is still a very good chance the company can be turned around and benefit both the shareholders and local community. I really hope that posters who are shareholders focus on getting you voted in as the first stage in allowing this to happen.

[jonu]

Thanks Jonu - I've also forwarded these questions. I'm concerned, as you may also be, that several posters are condemning NTL the company as if it has no future at all. Under the right management which needs you and other hardworking focussed team members imho there is still a very good chance the company can be turned around and benefit both the shareholders and local community. I really hope that posters who are shareholders focus on getting you voted in as the first stage in allowing this to happen.

Agreed PIB. Thanks for your support.

[Motley Crew]

Thanks Jonu - I've also forwarded these questions. I'm concerned, as you may also be, that several posters are condemning NTL the company as if it has no future at all. Under the right management which needs you and other hardworking focussed team members imho there is still a very good chance the company can be turned around and benefit both the shareholders and local community. I really hope that posters who are shareholders focus on getting you voted in as the first stage in allowing this to happen.


I fully support Jonu's nomination for the Board, and really hope he makes it on.

But with reference to the capital raise, the pricing has to be pitched either close to, or below the current market SP otherwise it won't be supported by shareholders who could buy on market cheaper. So that answers the question why the placement and rights issue is at a 70% discount to the 2019 SPP.
Regarding the future of the company - again I really hope that with the right Board and Management something can be made of this company, but Jonu is only one and getting the rest of the Board replaced is going to be a Herculean task and well nigh impossible as long as Hill and Nader are there. But how do you keep going about recapitalising this penny dreadful and retain shareholder support ? Shareholders have thrown the proverbial kitchen sink at it (2016 3:1 issue), the money has been squandered, the SP is as low as it can go (A$0.001 Friday), a consolidation is on the way and with nothing positive to report the SP will continue to sink. It won't be a quick turnaround if one ever comes, and how much more pain are shareholders going to put up with ? You have to be a masochist to stick it out.

[jonu]

I fully support Jonu's nomination for the Board, and really hope he makes it on.

But with reference to the capital raise, the pricing has to be pitched either close to, or below the current market SP otherwise it won't be supported by shareholders who could buy on market cheaper. So that answers the question why the placement and rights issue is at a 70% discount to the 2019 SPP.
Regarding the future of the company - again I really hope that with the right Board and Management something can be made of this company, but Jonu is only one and getting the rest of the Board replaced is going to be a Herculean task and well nigh impossible as long as Hill and Nader are there. But how do you keep going about recapitalising this penny dreadful and retain shareholder support ? Shareholders have thrown the proverbial kitchen sink at it (2016 3:1 issue), the money has been squandered, the SP is as low as it can go (A$0.001 Friday), a consolidation is on the way and with nothing positive to report the SP will continue to sink. It won't be a quick turnaround if one ever comes, and how much more pain are shareholders going to put up with ? You have to be a masochist to stick it out.

Motley, the reason the Rights Issue is 70% below the 2019 SPP is because they didn't deliver. Pure and simple. Mr Nader and Mr Hill are up for election at the next ASM. If their Resolutions are not supported this meeting it sends a strong message that they are next.

With the right Direction I am still optimistic for NTL. I have done my homework as best as possible without the normal DD materials that would normally be forthcoming. Let's see what unfolds from Wednesday. Shareholder's need to make their feelings known where it really counts. I have a feeling they will.

[Motley Crew]

Motley, the reason the Rights Issue is 70% below the 2019 SPP is because they didn't deliver. Pure and simple. Mr Nader and Mr Hill are up for election at the next ASM. If their Resolutions are not supported this meeting it sends a strong message that they are next.

With the right Direction I am still optimistic for NTL. I have done my homework as best as possible without the normal DD materials that would normally be forthcoming. Let's see what unfolds from Wednesday. Shareholder's need to make their feelings known where it really counts. I have a feeling they will.


Yes that explains why the SP is where it is. Non-delivery. And a rights issue based on the SP of a non-delivering company has to be made 'attractive' enough that the directors think shareholders will support it. But at .002 NTL has run out of runway (unless it has a helicopter or other VTOL hidden somewhere). It's pretty difficult under those circumstances to paint lipstick on the pig and hope shareholders won't recognise the swine running the company.

[Bluemanarc]

If that is the case then the board have a very easy answer to this shareholders question!


This might be of interest to you Jonu if you're still considering legal action against the company.

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/94DB65B17CCA94A8A9332DD6D92E2C75

In article #6 they are claiming that all new shares are to be purchased with CASH. Therefore a cheque or internet banking would be ruled out.

Maybe they'd like to provide us with a picture of AU$670,000.00 (of OUR money) from the resent placement piled up on the board room table!

Well the "Cash" has now gone back to its owner, if it ever moved at all.

So basically they gained a Broken Hill Mine, at the expense of more shares being issued, swap new shares for some more prospecting land.

I dont think funds actually moved.

[Brain]

The litmus test is will Chader , Hill and Stevens be supporting the CR with their own money? I cannot recall an occasion in the past 5 years where they have ponied up and I expect it will be no different this time.

[jonu]

The company has just issued 80 million new shares on a CONDITIONAL deal. These shares should not legally carry voting rights at the ASM.
I have let the company know.

I encourage shareholders to email the Company secretary Jane Bell jane@newtalisman.co.nz to (politely) inform her that you are aware of the anomaly and wish the company to declare its position with regards the voting rights of these new shares.

[Weta]

Typical NTL - Why aren't the two new board members listed as such on today's release?

Since this is an official release, surely it has to be retracted & corrected.

Anything other & it's outright lie, right?

[nztx]

80 million freshly minted crisp sparkling NTL shares issued for acquisition .. just in time
for the Cap Raise, a large Dallop of watering down and walloping out of Consolidation .. ;)


$0.005 issue price fair to everyone ahead of the oncoming adventure ? ;)

Now what sort of Director Certificates got signed for this one ? ;)


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/379874/355650.pdf



Issue/acquisition/redemption price per security:

NZ$0.005 per share issued as
partial settlement in acquisition
of exploration assets for a total
of NZ$400,000

[nztx]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/379875/355653.pdf

Binding Agreement to Acquire Broken Hills Goldmine

80 Million Shares + $350K of everyone's collective hard-earned contributed


It must be time for NTL to publish a bit more blurb on this fantastically exciting Company changing
acquisition at a Steal of a price .. ;) Was everyone happy with what got swapped/paid or are
some parties now incapable of lodging a complaint ? ;)

With the elderly Geologist at the helm of this fantastic acquisition now recently departed, what have NTL
actually acquired for the $750K (or thereabouts subject to said watering down, consolidation
and likely future Sharemarket forces at play) out of this little foray into further deep mysterious holes in
Coromandel landscape ? ;)



The share consideration has been issued but will be held on trust until satisfaction of the
condition and completion of the acquisition, and thereafter will be escrowed
until 30 September 2023 (subject to certain exceptions).

Well that's nice .. it looks like someone has signed up for the longer twisting ducking diving
weaving long haul in and around all the Shafts for the duration .. ;)

Hopefully no Ghosts arrive to reclaim their presence in the works in the future .. :)

otherwise a fresh Cap Raise may have be undertaken (with a large Consolidation)
to acquire another Mine to rehome them into ;)

[Paint it Black]

The company has just issued 80 million new shares on a CONDITIONAL deal. These shares should not legally carry voting rights at the ASM.
I have let the company know.

I encourage shareholders to email the Company secretary Jane Bell jane@newtalisman.co.nz to (politely) inform her that you are aware of the anomaly and wish the company to declare its position with regards the voting rights of these new shares.

Done!! Hard to believe a Board I once supported would try this so blatantly to avoid scrutiny - if they intend to.

[Paint it Black]

Message now back from NTL is that they are assigning voting rights to the conditional agreement.

[jonu]

Message now back from NTL is that they are assigning voting rights to the conditional agreement.

Did they email you PIB? I haven't heard anything

[Paint it Black]

Yes a short email from Jane.

[Landyman]

I hope NTLs top shareholder (Mr Brown) is voting your way Jonu - NTL continue to amaze.

[nztx]

I hope NTLs top shareholder (Mr Brown) is voting your way Jonu - NTL continue to amaze.


Amaze or shock ? ;)

[dubya]

I was going to email Jane but the chances of getting a reply would be very very slim considering NTL don't answer emails from the New Zealand Shareholders Association, nor apparently do they answer emails from a shareholder with about 83 million shares in the company.

So......I don't know if you still sneak onto this site Mathew Hill (also known by other names ;)) or whether you have a little spy to do your snooping...but if you do, I would be interested in buying this piece of equipment.

13006

Jeez, it's still in 'as new - unused' condition. I don't think that mud that someone smeared on to the augur fooled many people :D.
I thought that by now it would be on it's last legs from all the use it's had ;).
Anyway, if you're interested could you maybe put it up on Trademe so I can get some more details.
Thanks a lot.
dubya

[t.rexjr]

In case you're wondering...


NZX Market Announcements

ASX Company Announcements Office

NEW TALISMAN GOLD MINES LIMITED (NZX: NTL, ASX: NTL)

New Talisman Gold Mines Limited (the Company) confirms that the 80,000,000 shares issued on 24 September 2021 in relation to the partial settlement of acquisition of Broken Hills Goldmine, are held on trust by Coromandel Gold Limited as trustee until 30 September 2023. The shares are currently exercisable and eligible to be voted at the direction of the members of the Rabone family as current shareholders of Broken Hills Historic Mine Limited.


The hole deepens...

[Brain]

All the best for the SGM tomorrow Jonu

[Dlownz]

Wow. "we might lose the vote and Jonu gets on the board. How can we stop this. Let's create more shares. Noone will do anything to stop us".
Now is this not illegal to create voting capable shares right before a vote and give the voting rights to someone already on the board.

[Landyman]

Good luck Jonu - timing of the 80m shares - dont be surprised to see a new poster on here after the meeting "NotMatt", "Ra-boned" or something similar

[steveb]

I just can't see why the board would not welcome jonu with open arms.He has consistently supported NTL,and been the most positive supporter on this platform.If they don't want his positive input you have to question the boards motives here.

[Landyman]

I just can't see why the board would not welcome jonu with open arms.He has consistently supported NTL,and been the most positive supporter on this platform.If they don't want his positive input you have to question the boards motives here.

Agree - someone who has invested their own hard earned cash will bring some balance to those who havent!!!

[whatsup]

Any S Her logged into this outfit today, anything worthwhile apart from the usual bs ?

[ThaiJohn]

Standard waffle, lots of words..nothing said.
https://www.nzx.com/announcements/380036

[kiora]

Standard waffle, lots of words..nothing said.
https://www.nzx.com/announcements/380036

You mean a lot said, nothing done don't you?
GLAH Never ,ever owned

[Landyman]

Are the votes in for Director nominations?

[Weta]

Was it just me or did anyone else notice how uncomfortable Charbel seemed to be today and how Matt acted like he had nothing hanging over his head?

[swissboy]

I obviously do not know how to Vote on line. On resolution 2 the only vote available is to resolution 3 or something like that. Totally lost !!!!!!??

[Landyman]

So is Jonu in?

[Weta]

Voting has long since closed. We had the opportunity (twice) to vote on each line item with about 1 minute available to vote for each item, each time.

No results were released during the meeting.

[Fundamentalfinder]

“We will release the results of the votes immediately upon this meeting closing”. In NTL language that’s probably a few weeks away.

[Paint it Black]

So is Jonu in?

It will be announced via the NZX presumably later this afternoon. Late resolutions to oust the CEO and Chairman were also voted on but these are non binding.

[jonu]

Hi All
Still awaiting results.
This maybe my last post on this Forum. Thank you for the support I have received. If successful, rest assured I will be working hard for the good of the company.
Then again, I might be back tomorrow! :(

[Landyman]

Jonu any pearls of wisdom from you from the AGM? Positive negative comments?

[jonu]

Jonu any pearls of wisdom from you from the AGM? Positive negative comments?

I wasn't satisfied with several of the answers to questions. I won't say too much.

[Brain]

Was it just me or did anyone else notice how uncomfortable Charbel seemed to be today and how Matt acted like he had nothing hanging over his head?

Yes I agree Matt seemed very relaxed but Nader was a bit uncomfortable. Clearly Nader thought the shareholder questions a bit tiresome.

[Landyman]

Shareholders, such a nuisance :-)

[Weta]

It was good to see the top shareholder put forward many relevant & viable questions.

At least is give minions like myself some faith knowing that he is actively following his investment & not just an open wallet with more money than he knows what to do with.

[Weta]

Voting results taking quite some time to get released. Does that mean the results might be interesting? Maybe NZX or ASX thought the new "conditional" shares shouldn't have voting rights?

I'd think they'd be released prior to market close on the NZX or after market close on the ASX. Between those two times would be a bit unfair.

[Weta]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/380046/355883.pdf

Congrats Jonu!

That might be why Charbel looked uncomfortable with his face on his monitor!

[Lion]

Hey well done jonu, (and all of us who voted you on)
For those who haven't seen the results just out - jonu's in, Rabone in, Wyse out, and the 2 non-binding votes were for the 'forthwith removal' from the board and of Hill and Nader.
Hooray for the small guys - there is sometimes some justice!

[Fundamentalfinder]

Well done Jonu, this is the only good news to come out of this company in a long time

[dubya]

Well done Jonu, this is the only good news to come out of this company in a long time


Yes well done Jonu.

Hill will be spewing (although the $1,000 per day he's being paid will help his malaise).

His patsy director out and Jonu in.

But BEST of all in my opinion:
That Matthew Hill be removed from
the NTL Board forthwith :t_up: :t_up::
663,147,127 votes for his sacking
That's 58.75% of people who voted today wanted him out.

Chew on that bullish. :p

[porkandpuha]

So good. Congrats Jonu. And long live the power of the ST forum.

[kiora]

Yes well done Jonu.

Hill will be spewing (although the $1,000 per day he's being paid will help his malaise).

His patsy director out and Jonu in.

But BEST of all in my opinion:
That Matthew Hill be removed from
the NTL Board forthwith :t_up: :t_up::
663,147,127 votes for his sacking
That's 58.75% of people who voted today wanted him out.

Chew on that bullish. :p

But non binding ???
Does that count?

[Paint it Black]

Well done Jonu, this is the only good news to come out of this company in a long time

A magnificent result for NTL imho and congratulations John Upperton - it needed you to bring about this about and good luck for the future. With Kelly Wyse declined the NZ balance on the Board is where it needs to be to make NTL work at the mine face. Hopefully Murray Stephens, Victor Rabone and Jane Bell will combine well with you. The message has also been delivered to the CEO and Chairman and although non binding it sends a very strong message and hopefully they will take heed. Also a big thanks to Oliver Mander - faith is restored.

Jonu can hopefully still communicate with us all on this forum - surely by formally declaring his interest Sharetrader will then be OK with his input but getting the Board buy in may currently be trickier. If not regular communications will be much appreciated - the long silences recently have been deafening.

[whatsup]

and well done from the N Z S A for their help with this matter.

[Dlownz]

Wow and the 80 million extra votes still didn't help Hill and his plans. Well done Jonu even up agsinst there crap you still beat them.

[Weta]

One more BIG shoutout for Vince!

Without his diligence & hard work we would have likely had Bullish & Epithermal trying to deceive ST members & viewers from behind those unannounced hiding places.

One day we might look back at this all and realize that it was actually the initial actions of Vince that saved the company!

[Lion]

Jonu can hopefully still communicate with us all on this forum

Well, he could always use a false name!!

[dubya]

But non binding ???
Does that count?

Morally I think it does. Hill is pretty thick skinned, but it's never a good feeling when a CEO knows most of the companies 'owners' want him out.

I sincerely hope his days as CEO come to an end sooner rather than later

[jonu]

Hi all, John Upperton here. Well it's official, I have been elected to the Board. I would like to take the opportunity to thank everyone for the support.
I'm unlikely to post hereafter but I will be keeping the message sent at today's meeting, front and centre with the Board. Shareholders have been very clear they are not happy with the Company, and there is a lot of work to be done to regain the trust and respect of our investors.

Rest assured this will be my at the forefront of my endeavours to get this mine producing....sooner rather than later.

Thanks again....and as always DYOR!!!!

[Weta]

I'm unlikely to post hereafter but I will be keeping the message sent at today's meeting, front and centre with the Board..


Hey Jonu, I suggest you change the title under your user name on here from Advanced Member to NTL Board Member, just in case the urge strikes you to have a post on this or on any another thread on ST.

That I believe will keep you in line with ST T&C's, something your now fellow board member is probably sweating over these days.

Now I can't wait for the initial CGL board vote!

[Vince]

Folks,

First off, congratulations to Mr. John Upperton on his newly elected position on the NTL board as a director.

I spoke to Mr. Upperton this afternoon regarding Sharetraders's T's & C's on a director posting and clearly identifying themselves as such. Mr. Upperton wished to make a final post clearly identifying himself and to thank his supporters over the past few months. This post appears above and I can confirm it is Mr. Upperton. The personal profile of "jonu" will be changed over the next few days to reflect his new position.

For disclosure, - previous to the above post #7826 @ 18:41PM NZST 29/09/2021, Mr. Upperton was only a shareholder in NTL and only expressed personal opinions with no ties to NTL and did not represent NTL in any form.

Thanks,
Vince

[nztx]

Congrats Jonu! .. well done !

Now we really DO need more DISRUPTIVE Directors on NTL's Board ;)

So disruptive that the CEO & Chairmen both hate the their guts before they get voted on .. ;)

[whatsup]

Hi all, John Upperton here. Well it's official, I have been elected to the Board. I would like to take the opportunity to thank everyone for the support.
I'm unlikely to post hereafter but I will be keeping the message sent at today's meeting, front and centre with the Board. Shareholders have been very clear they are not happy with the Company, and there is a lot of work to be done to regain the trust and respect of our investors.

Rest assured this will be my at the forefront of my endeavours to get this mine producing....sooner rather than later.

Thanks again....and as always DYOR!!!!

With todays events there is a better than even chance that the C R may have a few more subscribers !

[whatsup]

Do we all think that todays outcomes will make some of the papers, Im expecting a write up by some of the more investigative scribes .

[nztx]

With todays events there is a better than even chance that the C R may have a few more subscribers !


Is you kidding ? .. it's the dilution thereafter followed by the act of lose the 'under Marketable Parcels' hatchet jobs that are more of a worry ;)

Where's the Special Offer from NTL to those with less than a Marketable Parcel (ie AU $500) to keep all those holders
or as many as possible being offered opportunity to stay onboard - @ 0.2 of a Cent to top holdings up ? ;)


FAIR is FAIR - for many of those small holders - NTL have systematically attempted to gut their wallets
then on Company dilution/consolidation corporate action the final dirty deed delivered from NTL appears to be
to reduce them further finally kicking them in the guts .. ;)


Some will remember Ascension Capital (formerly TRS) an in-specie float out of HGL Shareholder base
- and that company has to date not even stooped as low as NTL has to kick out those with just a few shares left now ;)

The float out was probably sometime before the wombat crew flew in onto HGL/NTL Board table ;)

[dubya]

Do we all think that todays outcomes will make some of the papers, Im expecting a write up by some of the more investigative scribes .

Things I believe are in motion.

[nztx]

Things I believe are in motion.


And there it is on NZH:

(behind the paywall)

https://www.nzherald.co.nz/business/nzsa-strikes-a-blow-for-shareholder-activism-gets-its-man-on-the-new-talisman-board/J3B5QNK6W2LJ6X4SSS26XGZM3A/


Very very interesting reading :)


A very resounding non-binding Vote against Chair & CEO ;)

[RicharK]

Congrats to Jonu. He is in.

[RicharK]

Thank you Vince.

[Sideshow Bob]

Well done Jonu
Well done Vince
Well done Oliver & NZSA

:t_up:

[Landyman]

Well done everyone - lets hope that the hole in the side of this ship can be repaired before it sinks.

Have to admit, I finally tempted to dip my toe back in, but will wait for the fall-out of meeting

[Dlownz]

Even I might be tempted if Hill is gone but I have a feeling the rot has already set in and there's no stopping it. I'm afraid Jonu might not like what he sees once he starts getting some real info

[Brain]

I can’t think of any occasion before where there has been anywhere near this level of criticism of members of a board. A first for NTL. It was good to hear some questions from Mr Brown

Jonu has a huge task ahead of him. I think I recall Hill saying that it will take a further $12M or so to bring the mine to production and if that is the figure now it is more than likely (based on previous experience with NTL)to be more than that with no gaurentee of success.

From my point of view this is a bridge to far and it makes no sense to pour more money into this company.

[dubya]

....... . I think I recall Hill saying that it will take a further $12M or so to bring the mine to production....

Was that from yesterday's AGM?

[Landyman]

I note Kelly Wyse LinkedIn profile is yet to be updated...
Director
Company NameNew Talisman Gold Mines Ltd
Dates EmployedSep 2021 – Present
Employment Duration1 mo
LocationNew Zealand


https://www.linkedin.com/in/kelly-wyse-94a91368/?originalSubdomain=au

As an accountant myself, she just never stacked up having only moved from being AR manager to an accountants role 7 years ago - just a baby.

[Brain]

Was that from yesterday's AGM?

Yes it was

[Weta]

Have to admit, I finally tempted to dip my toe back in, but will wait for the fall-out of meeting

I'll admit to dipping into some of my rights last night & spent some $11 odd dollars to bring my shareholding up to a level that it will end with four zeros. That makes the likelihood of losing any shares post consolidation due to rounding less likely. Big brain stuff right there. lol

I'm not fusses whether my 5715 new shares will gain the additional loyalty shares in the future.

[dubya]

This is the press release sent out yesterday by the NZSA. (my highlight in red ;))


SHAREHOLDER ACTIVISM MAKES A DIFFERENCE AT NEW TALISMAN GOLD MINES
September29th 2021


The NZ Shareholders Association (NZSA) is satisfied with the outcome of today’s shareholder votes in relation to New Talisman Gold Mines (NZX: NTL).

NZSA has supported retail shareholders to ensure that their concerns are heard by the NTL Board and to advocate for governance improvement – as we do for any listed company.

For New Talisman Gold Mines, NZSA supported the election of John Upperton, a concerned shareholder of NTL, to the Board, as well as opposing recent board appointee Kelly Wyse.

Additionally, two non-binding resolutions were tabled at the meeting calling for the immediate resignation from the Board of both the current Chair, Charbel Nader and Matthew Hill, who is also the CEO of the company. NZSA voted in favour of these resolutions.

The vote of shareholders at todays meeting supported the positions adopted by NZSA with regard to the resolutions.

“The outcome of today’s vote at New Talisman Gold Mines shows that the voices of retail investors remaining important for any listed entity, and that concerns raised by shareholders should carry weight with New Zealand’s corporate leadership”, says Oliver Mander, NZSA Chief Executive. “We’re looking forward to a change in approach by NTL, in terms of both its current strategy and its relationship with shareholders”.

“While the results of the resolutions calling for the removal of Charbel Nader and Matthew Hill from the Board are non-binding, NZSA would ask both individuals to consider the wishes of shareholders.”

To support shareholder advocacy, NZSA offers a free proxy service that allows retail shareholder votes to be counted. Contact teresa@nzshareholders.co.nz for further information on this service and the registration process.

ENDS

About NZ Shareholders Association
Since its formation in2001, the NZSA mission is to represent, promote and protect the interests of investors in shares and other investment products. We aim to promote and encourage an active, efficient, fair and transparent market for raising capital, trading shares and other investment products.

For further information or comment, please contact Oliver Mander (CEO) on 021 190-5343 or at ceo@nzshareholders.co.nz.

[dubya]

Bluemanarc. That post of yours this morning on another forum was excellent and imo "right on the money".

You might want to copy it over to this thread?

[Boazman]

Anybody got Tony Beets number? Seriously though yesterday is an overdue good development good work all! Although some Tony Beets work ethic will be required next month(s) or after all the tinkering around on the sidelines finally can get a into g

[dubya]

Anybody got Tony Beets number? Seriously though yesterday is an overdue good development good work all! Although some Tony Beets work ethic will be required next month(s) or after all the tinkering around on the sidelines finally can get a into g

Haha :D I had no idea who Tony Beets was so just googled him.
He wouldn't be able to get into NZ anyway with the MIQ lottery debacle, but that's no real problem.... it's evidently quite possible to run a gold mining operation when you're residing in another country......just ask Nader and Hill :eek2:

[steveb]

Haha :D I had no idea who Tony Beets was so just googled him.
He wouldn't be able to get into NZ anyway with the MIQ lottery debacle, but that's no real problem.... it's evidently quite possible to run a gold mining operation when you're residing in another country......just ask Nader and Hill :eek2:

Yes but clearly you can't run it very well,just ask the shareholders who voted yesterday for the resignation of Nader and Hill

[Landyman]

At the AGM was there any talk of the upcoming FMA v Hill case? Im guessing its not really NTL as such, as its against Hill himself

[Paint it Black]

There was a question raised but Nader basically said NTL had no further comment from that already sent to the FMA which shareholders are aware of. He thought the case could take another 6-12 months to reach court. He said the rules regarding director disclosures were only instituted in NTL's employment conditions after the allegations came to light. He said no thought was given to Hill's standing down as they are only allegations and as CEO it would have been very disruptive.

[Brain]

At the AGM was there any talk of the upcoming FMA v Hill case? Im guessing its not really NTL as such, as its against Hill himself

none . Nader said that it was a civil matter. Nader also distanced himself from being able to remove Hill from the board.He said that is a decision for shareholders not other board members.

[Bluemanarc]

Bluemanarc. That post of yours this morning on another forum was excellent and imo "right on the money".

You might want to copy it over to this thread?

That post was removed for some reason on HC, so here it is here.


I hope otherwise but I suspect Jono will find out some nasty truths when he arrives.
My thinking:

1. The amount of work, and cost of that work, due to H&S and red tape and mine issues, to be able to run a mining operation of any scale, is miles beyond the resources and any capability that NTL has or could hope to achieve.

2. The actual gold per tone of rock is way below what he was hoping.

3. Any potential gold grades are simply out of reach (as per point 1)

4. The management has zero intention of mining down there, and has not had any intention, for several years, as they gradually realised point 1. But have hidden that from shareholders on the advice of Mat Hill, and that is why Nadar is very nervous.

5. The new acquisitions are the only chance of getting actual gold. Except, in reality they are only looking to find JORC resources, like buying lotto tickets, so they can continue on the prospecting nature of the business.

6. There is no mining capacity for NTL, anywhere, unless they find JV partners.

7. All the other mining operators in NZ think NTL and Mat are a joke, and will never work with them.

For Jono's sake, and any existing shareholders, I hope I am wrong.

But I think its going to be sobering time and reality check, sorry Jono.NTL (https://hotcopper.com.au/asx/ntl) Price at posting: 0.2¢ Sentiment: Sell Disclosure: Not Held



*Removed* this post has been removed from public view (30/09/2021 14:06:26) because of (Breach of HC TOU)

[Motley Crew]

I can’t think of any occasion before where there has been anywhere near this level of criticism of members of a board. A first for NTL. It was good to hear some questions from Mr Brown

Jonu has a huge task ahead of him. I think I recall Hill saying that it will take a further $12M or so to bring the mine to production and if that is the figure now it is more than likely (based on previous experience with NTL)to be more than that with no gaurentee of success.

From my point of view this is a bridge to far and it makes no sense to pour more money into this company.

NTL (Matt Hill) raised $12m in the 2016 3:1 issue at .005 (about 1.2b shares) - so the company might like to disclose where that $12m has got to (quite a lot into the CEO's pocket on his salary). Another $12m, and then another, and then another...........That's a big hole full of shareholder cash right there. Maybe they use the bit of cash left over after paying the CEO's salary to make the hole just a little bit deeper, so that the next round of shareholder cash raised disappears into the abyss never to be seen again

[Landyman]

Apart from finding a JV partner, I see another possibility, albeit may not be that palatable, but NTL could/will tip over if they cant find funding, therefore the larger shareholders like Mr Brown and Mr Upperton face losing their investments if it fails - we know they are both actively engaged in what is happening (ie the AGM participation, election to Director), so we know they arent just money bags who can afford to lose their dough.
I think Digger was the last of the big shareholders to bite the bullet and cash out, but given the SP, and the size of their holdings, further investment may be a good option to get long term return - $12m to get it operating someone said was what Hill said - based on past information we have received my conservative brain doubles that to make it realistic. Will be interesting times.
Do we know who the recent placement was made to yet?

For me, $12m reads as enough money to get Hill to retirement - sorry, my glass is half empty until he is gone.

[Weta]

Why hasn't NTL released to market that they welcome Jonu to the board? Is he unwelcome?

It was price sensitive information when they appointed & welcomed Ms Wyse & Mr Rabone.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/379022/354571.pdf


Why is it not price sensitive this time?
NTL have updated their own website with the new information.
https://www.newtalismangoldmines.co.nz/corporate-profile/board/


Maybe someone in Australia needs to give Matt & Charbel a cuddle & tell them that everything is going to be alright.

[Paint it Black]

Rather than waiting a full month it would be most useful to receive the September quarterly report before the rights closing on the 19 October to allow shareholders to make an assessment on whether to invest further. With the Board changes and vote of no confidence in the CEO and Chairman performance a clear road map which the new directors endorse needs to be presented describing how the new funds will be used and what additional funding is needed. I realise this is not easy with the many variables and some broad estimates will be required but something will be much better than nothing.

At the ASM the CEO did touch on where he sees the next steps and risks but we need to see this formally presented.

From what I heard the Broken Hills site and some equipment will be used for processing the stockpiled ore at Talisman under the 2 year Bulk Sampling permit to be triggered when the process testing is completed. In parallel with this the full mining permit at Talisman will be progressed. This will require a requirement to construct secondary egress route(s) to meet safety requirements which to me could be a major. The Dubbo face has significant stabilisation issues and the intention is to pick the 'low lying fruit' at Mystery. The cost involved to get Talisman into full production are likely to be more than $12 million. The intention is to further assess Broken Hills resource potential and likely obtain a JORC. Just how much mining is immediately allowed at Broken Hills under the existing permits needs to be confirmed (a condition of the acquisition).

An assessment of the cash flow requirements over the next 5 years needs to be supplied. How much is expected to be generated during the bulk sampling stage and how much more will be needed to fully mine Talisman and Broken Hills assuming the permits are in place. What ongoing positive cashflow can then be expected? How is CGL going to impact on this as a fully owned subsidiary of NTL?

This is a reasonable expectation for shareholders to obtain so as to make any further commitment. I would have much more confidence in this with John Upperton running his ruler over it. If the rights offer closing needs to be postponed in order to receive this first then that's OK. What do other posters think?

[nztx]

Back in April 2012 this appeared in NTL Announcements on NZX:

https://www.nzx.com/announcements/222227


PUBLIC CENSURE OF HERITAGE GOLD NZ LIMITED (HGD)


26/4/2012, 4:42 pm DISCPLIN
IN NZ MARKETS DISCIPLINARY TRIBUNAL
SUMMARY HEARING PROCEDURE NZMDT 2/12

UNDER the NZ Markets Disciplinary Tribunal Rules

IN THE MATTER OF breach of the NZSX Listing Rules 3.3.1(c) and
3.6.2(b)

BETWEEN NZX LIMITED

AND HERITAGE GOLD NZ LIMITED
Respondent


Interesting reading


And from the NZX Bible at the time states::


Relevant Rules

25. Rule 3.3.1(c) provides that:

“The composition of the Board shall include the following:

(c) the minimum number of Independent Directors shall be two or, if there are eight or more Directors, three or one-third (rounded down to the nearest whole number of Directors) of the total number of Directors whichever is greater.”

26. Rule 3.6.2 provides that:

“The Audit Committee shall:

(a) be comprised solely of Directors of the Issuer; and
(b) have a minimum of three members; and
(c) have a majority of members that are Independent Directors; and
(d) have at least one member with an accounting or financial background.”


Have things @ the NTL Boardroom improved since ? ;)

[nztx]

Looking at a summary of the NTL filed Quarterly Cash Statements - here is where the Shareholder
Money raised & other Cash inflows have gone:


11 Years Totals (covering from 1 April 2010 to 31 March 2021)

Cash Inflow:

Net Proceeds - Shares & Options $ 16.26 m

Short term Loan (2012-13) $ 0.124 m

Receipts Product Sales / Debtors
(2015 & 2016) $ 0.124 m (Bulk Ore Sales ?)

Interest received $ 0.344 m

Other Operating Inflows $ 0.053 m

Sale Equity Investments $ 1.065 m (Broken Hill Prospecting AU ?)

Dividend received $ 0.001 m

Total Cash inflow $ 17.971 m



Cash Outflows:


Development Expenditure $ 9.539 m

Administration Expenditure $ 8.449 m

Equity Investments (2021) $ 0.100 m (Broken Hill Historic Gold ? )

Equity Investments (Other) $ 0.128 m

Other Fixed Assets (Net) $ 0.358 m

Net Loans Other Entities $ 0.298 m

Rounding $ 0.004 m


Total Cash Outflow $ 18.876 m


Net Cash Outflow ($ 0.905 m)


Opening Cash 1 Apr 2010 $ 2.054 m

Exchange Fluctuations ($ 0.038 m)


Closing Cash 31 Mar 2021 $ 1.111 m



In each of the years ended 31 March 2021, 2017, 2016, and 2011 to 2014 NTL's
reported Administration Expenditure exceeded Development Expenditure

Note: Some similar inflow & outflow categories have been offset (ie Loans other entities;
Fixed Assets purchases/realisations )



Summary of Net Proceeds from Cap Raises - Shares & Options:

For the Year ended 31 March -


2020 $ 3.626 m
2018 $ 1.926 m
2017 $ 6.373 m
2016 $ 0.590 m
2015 $ 1.392 m
2014 $ 0.927 m
2013 $ 1.421 m

Total Net Inflow from Cap Raises spread across the 11 Years = $ 16.255 million


Summary of Reported Development Cash Outflow by year ended 31 March -

2021 $ 0.632 m
2020 $ 1.439 m
2019 $ 2.487 m
2018 $ 1.575 m
2017 $ 0.561 m
2016 $ 0.376 m
2015 $ 0.684 m
2014 $ 0.599 m
2013 $ 0.514 m
2012 $ 0.368 m
2011 $ 0.303 m

Total Reported Expenditure $ 9.539 m


Summary of Reported Administration Cash Outflow by year ended 31 March -

2021 $ 0.660 m
2020 $ 0.888 m
2019 $ 0.903 m
2018 $ 1.304 m
2017 $ 0.844 m
2016 $ 0.722 m
2015 $ 0.563 m
2014 $ 0.726 m
2013 $ 0.738 m
2012 $ 0.560 m
2011 $ 0.541 m

Total Reported Expenditure $ 8.449 m


Source - NTL Quarterly Cashflow Reports issued to NZX, consolidated & summarised

[Weta]

From the SPP offer in 2017, the year NZTX's post shows 6M+ in capital received.


https://www.nzx.com/announcements/307227

I've exchanged the font colour to red for the things I believe still haven't been accomplished.

As outlined in the offer document the funds raised from the SPP will be used:

• To accelerate developments into the high grade JORC 2012 resources which in Dubbo alone doubled to 312,800oz gold equivalent at 21.98g/t; and increase production levels to the maximum allowable under the resource consent being 20,000 cubic metres per annum
• To investigate and develop multiple sampling operations on the Talisman permit area
• To install a pilot plant for underground concentration of ore which will reduce tonnage by 80% while increasing grade by a factor of approximately 4 times in concentrate form
• To gain access into level 9 and 10 and commence further extraction operations at deeps levels of the mine recently announced
• To accelerate completion of a bankable feasibility study
• To finalise toll treatment either in NZ or export of concentrate offshore
• Expand exploration programs aimed at building a +1m ounce minerals inventory
• To explore and implement initiatives to expedite activity, and potentially a greater interest in Rahu and other targeted areas such as Taukani Hill (where previous bonanza samples at surface were taken) and Dominion knoll which is highly prospective.
• To fund alternatives that may allow full mining at Talisman including alternate access to the orebody.

[nztx]

From the SPP offer in 2017, the year NZTX's post shows 6M+ in capital received.


https://www.nzx.com/announcements/307227

I've exchanged the font colour to red for the things I believe still haven't been accomplished.

As outlined in the offer document the funds raised from the SPP will be used:

• To accelerate developments into the high grade JORC 2012 resources which in Dubbo alone doubled to 312,800oz gold equivalent at 21.98g/t; and increase production levels to the maximum allowable under the resource consent being 20,000 cubic metres per annum
• To investigate and develop multiple sampling operations on the Talisman permit area
• To install a pilot plant for underground concentration of ore which will reduce tonnage by 80% while increasing grade by a factor of approximately 4 times in concentrate form
• To gain access into level 9 and 10 and commence further extraction operations at deeps levels of the mine recently announced
• To accelerate completion of a bankable feasibility study
• To finalise toll treatment either in NZ or export of concentrate offshore
• Expand exploration programs aimed at building a +1m ounce minerals inventory
• To explore and implement initiatives to expedite activity, and potentially a greater interest in Rahu and other targeted areas such as Taukani Hill (where previous bonanza samples at surface were taken) and Dominion knoll which is highly prospective.
• To fund alternatives that may allow full mining at Talisman including alternate access to the orebody.


The $6.373 million Cap Raise was in the 2016-2017 - 31 March 2017 year - reported in Sep 2016 Quarter cashflow report

The next $1.925 million Cap Raise was in the 2017-2018 - 31 March 2018 year - reported in Dec 2017 Quarter cashflow report

The announcement on 14 Sep 2017 appears to be the latter $1.925 million raise by looks of things

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/313601/273710.pdf

Following the second of the two raises, (the $1.925 million Cap Raised) NTL reported closing Cash on hand at 31 Dec 2017
end of quarter of $5.457 million

It is quite pertinent to note that was NO Capital Raise in the next 4 Quarters up to 31 March 2019

If the intended wasn't completed, perhaps Cash raised may have instead gone to other things, like Administration etc ? ;)


The next Cap Raise was the $3.626 million which came into NTL's Quarterly Cashflow Report for quarter
ended 30 Sep 2019 - falling in the 31 March 2020 year's summary

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/343562/310961.pdf

[dubya]

Regarding nztx and Wetas posts above.
It's just shocking isn't it!?

fraud (frɔːd)
n
1. deliberate deception, trickery, or cheating intended to gain an advantage
2. an act or instance of such deception
3. something false or spurious: his explanation was a fraud.
4. informal a person who acts in a false or deceitful way

I believe I can see at least two of them ticked. I'm sure some people would see all four :scared:

[nztx]

Shall we look at the excuses offered (sorry Reason for Putting the Hand out) for the other two Cap Raises ? ;)

Let's face it - the earlier of the three is only a mere THREE times the Dough raised on 14 Sep 2017 Cap Raise

What was carried forward not completed from that larger one ? ;)

[Weta]

The $6.373 million Cap Raise was in the 2016-2017 - 31 March 2017 year - reported in Sep 2016 Quarter cashflow report

The next $1.925 million Cap Raise was in the 2017-2018 - 31 March 2018 year - reported in Dec 2017 Quarter cashflow report

The announcement on 14 Sep 2017 appears to be the latter $1.925 million raise by looks of things


Yes NZTX, you seem to be right.

Speaking of right, lets look at the $.005 rights issue Bullish was always so quick to defend (from his relentless argument to buy shares & then flip them off at the perfect point in time when the SP had risen) all in hindsight naturally.

This time NTL was kind enough to give a list that was prioritized. However, they seem to have used a different prioritization sequence then I'm accustomed to. It appears they started with the highest number & worked towards the lower number.


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/282758/235905.pdf


5.0 BUSINESS OVERVIEW

Summary of application of funds raised The Company intends utilising the funds raised through this offer as follows in order of priority:

1. Initiating the bulk sampling programme and associated works immediately following completion of the raise
2. Accelerating the bulk sampling programme to maximise ore extraction within the terms of the granted resource consents and traffic management plan
3. Complete the feasibility study on the project
4. Accelerating the transition from bulk sampling to Phase 1 of the longer term production plan
5. Identifying additional gold mineralisation that could be upgraded to JORC 2012 compliant resources from the recently acquired digital historic production data and new exploration targets within the permit
6. Fund the Company’s obligations under the Rahu Joint Venture with Newcrest Mining.
7. Working Capital


I know that I never parted with any of my hard earned for NTL to buy a hobby/tourist mine or a holiday home out in the ring of fire somewhere before they accomplished what they said they would be doing with the capital first.

Where's the 1 tonne of ore sent out for testing? I want my .00000001% portion of the gold it contained.

[Brain]

Hopefully Jonu’s involvement will shed some light on the intention of the company. The minutes of the previous board meetings could make interesting reading.

[Bluemanarc]

Its sobering reading.
Just as long as none of those Admin costs were finding their way into Matt's or directors pockets.

[Weta]

Australian takeover of Coromandel mine a 'Trojan horse' - conservation watchdog


https://www.msn.com/en-nz/news/national/australian-takeover-of-coromandel-mine-a-trojan-horse-conservation-watchdog/ar-AAP58wG?ocid=msedgdhp&pc=U531 (https://www.msn.com/en-nz/news/national/australian-takeover-of-coromandel-mine-a-trojan-horse-conservation-watchdog/ar-AAP58wG?ocid=msedgdhp&pc=U531)

[Landyman]

Good pickup Weta - that said, Broken Hills has produced more gold that Talisman in the last 2 decades.

Jonu, think you have a mountain to climb trying to get the rest of the Board to be realistic/commercial.

[whatsup]

Yes NZTX, you seem to be right.

Speaking of right, lets look at the $.005 rights issue Bullish was always so quick to defend (from his relentless argument to buy shares & then flip them off at the perfect point in time when the SP had risen) all in hindsight naturally.

This time NTL was kind enough to give a list that was prioritized. However, they seem to have used a different prioritization sequence then I'm accustomed to. It appears they started with the highest number & worked towards the lower number.


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/282758/235905.pdf


5.0 BUSINESS OVERVIEW

Summary of application of funds raised The Company intends utilising the funds raised through this offer as follows in order of priority:

1. Initiating the bulk sampling programme and associated works immediately following completion of the raise
2. Accelerating the bulk sampling programme to maximise ore extraction within the terms of the granted resource consents and traffic management plan
3. Complete the feasibility study on the project
4. Accelerating the transition from bulk sampling to Phase 1 of the longer term production plan
5. Identifying additional gold mineralisation that could be upgraded to JORC 2012 compliant resources from the recently acquired digital historic production data and new exploration targets within the permit
6. Fund the Company’s obligations under the Rahu Joint Venture with Newcrest Mining.
7. Working Capital


I know that I never parted with any of my hard earned for NTL to buy a hobby/tourist mine or a holiday home out in the ring of fire somewhere before they accomplished what they said they would be doing with the capital first.

Where's the 1 tonne of ore sent out for testing? I want my .00000001% portion of the gold it contained.

weta, Could someone please tell mew where the previous C R funds have been used in relation to this "wish list " ?

[Weta]

weta, Could someone please tell mew where the previous C R funds have been used in relation to this "wish list " ?


NZTX alluded to this earlier in the thread...




If the intended wasn't completed, perhaps Cash raised may have instead gone to other things, like Administration etc ? ;)



Don't forget the brand new toy concentrator, which we paid good money for, that we've got sitting rotting away somewhere. What's the plan for that, or are we just paying rent for a self storage shed somewhere until shareholders forget about it?

[Hawkeye]

https://www.tvnz.co.nz/one-news/new-zealand/conservation-watchdog-objects-aussie-purchase-nz-mine others picked up the story

[t.rexjr]

https://www.tvnz.co.nz/one-news/new-zealand/conservation-watchdog-objects-aussie-purchase-nz-mine others picked up the story

"Australian media report the deal is worth $750,000."

My take on the deal was that it was worth $0 net

[nztx]

Someone should alert Slater & Gordon to NTL, once they finished dealing with A2 Milk:

https://www.nzherald.co.nz/business/aussie-law-firm-files-class-action-against-a2-milk/Y5GSMTENLOR2C7Y2XQDFDIYFFM/


they wouldn't need to travel far to locate the Aussie occupants on the NTL Board ;)

[Landyman]

Someone should alert Slater & Gordon to NTL, once they finished dealing with A2 Milk:

https://www.nzherald.co.nz/business/aussie-law-firm-files-class-action-against-a2-milk/Y5GSMTENLOR2C7Y2XQDFDIYFFM/


they wouldn't need to travel far to locate the Aussie occupants on the NTL Board ;)

Ha - imagine if NTLs EBITDA ever got close to $100m - same thing happened to Murray Goulburn in Aus a few years back - they ended up getting sold up.

[dubya]

And another one bites the dust (or abandons the ship)

https://www.nzx.com/announcements/380516

[mfd]

I hope jonu isn't too offended that Murray is retiring with immediate effect rather than sharing a board with him. The company shows him great respect by spelling his name correctly almost every time.

https://www.nzx.com/announcements/380516

[dubya]

Might be time for Come Back Kelly ;)

[Getty]

2 day trading halt, for board to consider "unexpected matters"

Anyone care to speculate what that may be?

[Snow Leopard]

'Expect the unexpected'

&

'Don't Panic'

Trading halt.

[Brain]

I hope jonu isn't too offended that Murray is retiring with immediate effect rather than sharing a board with him. The company shows him great respect by spelling his name correctly almost every time.

https://www.nzx.com/announcements/380516


Mr Sevens was A potential ally. Jonu’s difficult job just got very very difficult.

[Getty]

Maybe O J has gone in with all guns blazing, and NOT taken any prisoners...

[bucko]

Is it too much for me to think perhaps they're going to listen to 'the will of the shareholders' vote outcomes?

[Getty]

Maybe the Regional authority has made contact, and said the Rabone family right to mine is not transferrable.

Cant raise cash for what you cant do...although that never stopped NTL in the past.

[Landyman]

Given his long service and connection to NTL, then an immediate departure cant be read as a positive. Generally you would expect a decent handover, and given the turmoil of the last months elections, rejections and placement of our Jonu, sounds like there must be a bit going on.

DYOR, but quick summary (unfortunately few nice things to say):
1. MD is up for court action with FMA for posting on here under pseudonym
2. Tried to place an inexperienced accountant into Directorship (Wyse), rejected - noting she still hasnt updated her Linkedin profile
3. Rejected one of their larger shareholders (J. U.)
4. Have delivered few goals
5. Bought a hobby mine, that we are told will not be allowed to be commercial venture
6. Looking offshore for "pots of gold"
7. Cant spell, and tend to have contradictions in their announcements
8. Are sitting on a pile of JORC - see I can be optimistic.

Challenging times.

[Weta]

I'm still waiting for NTL to welcome Jonu to the board.

Maybe they want him to write his own welcoming letter as he is the only one with shareholders interests in mind.

[Landyman]

THere was another director that quietly resigned 12 (or so) months ago, cant remember his name

[Weta]

Just over a year ago.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/359055/329864.pdf

Why did it take a year to replace him with Ms Wyse?

[Weta]

Crown Minerals probably said F-off.


The Board of New Talisman Gold Mines Ltd (NTL) announces that NTL has entered into final documentation relating to the acquisition of Broken Hill Historic Gold Mine Limited (BHG). Completion of the acquisition is conditional on receipt of required approvals under Crown Minerals Act 1991 by 31 December 2021.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/379875/355653.pdf


If that is the case, then millions of invalid votes could have been counted during the AGM.

[Landyman]

Surely due diligence would have flagged that risk as a MAJOR - surprised the deal has got this far.

[Getty]

Rights issue cancelled, due to differences of opinion amongst the new board...

Funds paid will be returned.

[Getty]

O J has given them the juice...

[Brain]

Jonu is just one vote against 3 votes or maybe not. Perhaps Mr Rabone brings another view to the table and is supportive of Jonu and the shareholders.

[Landyman]

Heaven forbid that the Board are now trying to increase shareholder wealth in the long-term - go Jonu, you can do it!!!

Better than any soap opera - maybe Taika could direct the movie

[steveb]

So the next step should be to axe Matt"s obscene salary.

[Paint it Black]

Jonu is just one vote against 3 votes or maybe not. Perhaps Mr Rabone brings another view to the table and is supportive of Jonu and the shareholders.

Yes Jonu has quickly asserted himself and won Board support. A Cap raise is still likely but let's get some points on the Board first!

[nztx]

Rather interesting excerpt from the announcement:


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.

[nztx]

SP LOW 0.002 HIGH 0.003 today ;)

[nztx]

So the next step should be to axe Matt"s obscene salary.


Yes .. and address what looks like it is only a part time role attempted from a large distance away ;)

[percy]

I have just read the results from the agm.
Congratulations to Jonu and all Sharetrader shareholders who voted with NZSA to bring change to this company.
Well done.

[Bluemanarc]

I saw an episode of "Gold Rush" last night.
They built a tromel on the back of a truck in under 1 week and started it up.
I seriously doubt now that they ever had any intention of actually mining pay dirt.

We need Kris Kelly to give a run down on NTL
https://hiddenremote.com/2021/05/14/bering-sea-gold-clip-money-wasting-equipment/

[Weta]

Jonu is just one vote against 3 votes or maybe not. Perhaps Mr Rabone brings another view to the table and is supportive of Jonu and the shareholders.

Mr. Rabone has potentially 80 million reasons why he'd be looking out for shareholders. He won't be on big money as simply a board member.

80m x .002 = $160,000. 80m x .02 = $1,600,000, or in the area of possibly retiring at a quite early age if your home is already freehold.

Matt or Charbel would have been on one side of the court (in more ways that one lol). Jonu & Mr. Rabone would be on the opposite side of the court. Without a majority on a vote since the 5th member left earlier this week (2 vs 2), that makes the outcome very likely to see in what we've been told today.

Go Jonu! & now I can better understand why you may have said you looked forward to working with Mr. Rabone when you first made your nomination public on this forum. I probably should have voted for Mr. Rabone, but I was so salty after all the years of NTL rubbish, I voted "against" everything NTL recommended & "for" what they did not endorse.

[Weta]

Charbel gone!

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/380642/356582.pdf

Now maybe we have a majority!

[Getty]

O J the new broom, has given them the brush off.

[Baa_Baa]

O J the new broom, has given them the brush off.

What is O J ?

[dubya]

Posted just over 5 weeks ago.


The SP is one trade away from slipping below the forthcoming capital raise price.

My prediction is that Hill (and maybe others? ) will be resigning in the not too distant future.

ONE GONE


And another one bites the dust (or abandons the ship)

https://www.nzx.com/announcements/380516

TWO GONE


Charbel gone!

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/380642/356582.pdf

Now maybe we have a majority!

THREE GONE.....


So the next step should be to axe Matt"s obscene salary.

Axe him in total I reckon. Just you to go now Matty :t_up: :t_up: :t_up: :t_up:

[Paint it Black]

Charbel gone!

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/380642/356582.pdf

Now maybe we have a majority!

Now we getting somewhere - he was too close to Matt and had no skin in the game. Surely Matt is unelectable as Chairman and Jonu is as he holds more shares than Victor and has earnt the position. Hamish may like to step up to the Board?

[Getty]

O J=Our Jonu, we dont like sharing him.

[Hawkeye]

I to have no idea why they keep saying O J, keeps making me think of Orange Juice and I'm on a diet!!!!

[Hawkeye]

I find it incredibly ironic that you guys are so supportive of Jonu when you have been bagging him and NTL for years!

[Baa_Baa]

I find it incredibly ironic that you guys are so supportive of Jonu when you have been bagging him and NTL for years!

Yes, exactly, the two-faced hypocrites. I bet none of them have any shares either.

[Joshuatree]

Not forgetting Jonu defended the company for years, like an attack dog.

[Getty]

If Our Jonu displays the same sharp tongue, and threats of legal action in NTL board dealings as he did on this thread, its no wonder Nader & Co walked the plank.

[Bluemanarc]

NBR is on to this as well now, might even make the news tonight.

[Weta]

Does Matt have a place with NTL as CEO but not as a board member?

The CEO's role is to action the directives of the board. Maybe if he's being told what to do & how to do it he could be looked at as an effective employee one day. Currently he could be held to account for that role.

I wonder how the sophisticated and professional investors that stumped up with A$670k not long ago are feeling about their investment now?

[whatsup]

Lets hope that the board does NOT give Matt a golden goodbye such as the Ports of Auckland gave to their departing CEO !!

[nztx]

Goodness - The Aussie CHAIRMAN thrown overboard now ;-)

Should we start taking indicative notional nominations from here for a New NTL Chair ? ;)

We can't very well allow the CEO to become CHAIR - can we, after all that's happened .. ;)

With any luck NTL may want to start chasing the old Board Brass for some compensatory coin for the past woeful chapters .. ;)

Hopefully the Shareholders Association are watching carefully what is going on :)


BTW: Small Heavily Diluted Indirect Shareholder here (after many years of punishment that HGL/NTL have dished out)

Hopefully with the Cap Raise stomped on for a while, the plan for NTL's small holders to be made extinct will see some
common sense applied as well ;)

[Paint it Black]

Does Matt have a place with NTL as CEO but not as a board member?

The CEO's role is to action the directives of the board. Maybe if he's being told what to do & how to do it he could be looked at as an effective employee one day. Currently he could be held to account for that role.

I wonder how the sophisticated and professional investors that stumped up with A$670k not long ago are feeling about their investment now?

Doubt that would work - Matt wants to wheel and deal while what we need is someone focussed on the mine face. Why have a CEO anyway? Suggest Jonu is the Managing Director, Hamish is Chairman and Wayne Chowles with his in depth knowledge of Talisman is encouraged back to work with Victor at the mine and processing site.

I don't see why the new investors should be too concerned - they got their shares very cheaply at 0.2c.

[Weta]

Sue gone!

Matt's board seat gone!

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02433450-6A1055012?access_token=83ff96335c2d45a094df02a206a 39ff4

Maybe it's time for Matt to book a spot with NZ MIQ.

[Weta]

Jonu has a new way to communicate with us.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02433510-6A1055049?access_token=83ff96335c2d45a094df02a206a 39ff4

[Sideshow Bob]

Sheesh, just doesn’t stop giving.

Waiting for New Tailsman - The Musical!

[nztx]

Just to put that latest pdf announcements into perspective - both issued to late for NZX one must assume:

Released to ASX, presumably ?

NOT Released to NZX yet ?


That leaves the remainder of the Board left to set the future course for NTL ;)

[nztx]

Jonu has a new way to communicate with us.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02433510-6A1055049?access_token=83ff96335c2d45a094df02a206a 39ff4


Shall we make that man the New Chairman ? ;)

Plenty of Board vacancies now, the rats have run away and no new mice are showing up from their nests .. ;)

[Weta]

Goodbye CGL listing.

I wasn't going to invest in it anyways.

Looking forward to my chance to holiday at the Vanuatu time share property, as a shareholders perk. :)

[Weta]

Just to put that latest pdf announcements into perspective - both issued to late for NZX one must assume:

Released to ASX, presumably ?

NOT Released to NZX yet ?


That leaves the remainder of the Board left to set the future course for NTL ;)

Yes ASX release.

https://www2.asx.com.au/markets/company/ntl

[nztx]

Goodbye CGL listing.

I wasn't going to invest in it anyways.

Looking forward to my chance to holiday at the Vanuatu time share property, as a shareholders perk. :)


I'm interested in what the New Board unearth from the Carnage left behind & future prospects

What will happen to the Holiday Island prospect in Vanuatu ?

What will be salvageable from the hole in the Mountain at Karangahape ?

Are there any issues with advancing the newly acquired Broken Hill Hobby mine ?

At least Hill hasn't completely run away just yet - but that doesn't mean the Red Hot Poker
wont be primed up for when & if he finally reappears on this side of the ditch .. ;)

Finally, does a small Company like NTL actually need a CEO & one on Covid leave out on the other side
of the ditch (and presumably on full Holiday Pay when the Company has limited resources) ? ;)

Ensuing weeks could be interesting

[Getty]

Goodbye CGL listing.

I wasn't going to invest in it anyways.

Looking forward to my chance to holiday at the Vanuatu time share property, as a shareholders perk. :)

I regret to inform you, that your chance getting sunburnt there is somewhat reduced now.

Despite clashing with me over Vanuatu previously, O J seems to have seen the light, and is less enthused about that timeshare opportunity, than what the previous board was.

[dubya]

...........

At least Hill hasn't completely run away just yet - but that doesn't mean the Red Hot Poker wont be primed up for when & if he finally reappears on this side of the ditch ........

Ya just know he is going to be absolutely spewing.

His carefully crafted and manipulated and controlled empire is crumbling around him. He'll stay for as long as he can of course, if for no other reason to grab that thousand dollars a day.

What a fantastic fish and chip Friday its been

[Weta]

Monday I expect a notice that NTL is going to restructure its operation.

CEO role to become redundant & Jonu to become managing director.

I'm wondering why Murray Stevens was the first one to jump. Was he as corrupt as the other two chiefs of disservice.

Why don't us shareholders organize a get together on the day of Matt's trial?

[Weta]

Hi all, John Upperton here. Well it's official, I have been elected to the Board. I would like to take the opportunity to thank everyone for the support.
I'm unlikely to post hereafter but I will be keeping the message sent at today's meeting, front and centre with the Board. Shareholders have been very clear they are not happy with the Company, and there is a lot of work to be done to regain the trust and respect of our investors.

Rest assured this will be my at the forefront of my endeavours to get this mine producing....sooner rather than later.

Thanks again....and as always DYOR!!!!

You go boy!

Not matter what happens from here on out, it'll still be better than what would have happened if things went uncontested. If we eventually go belly up regardless, at least we will have done so with a fighting chance.

I'd rather die standing than live on my knees.

[nztx]

I wonder when NTL will issue an announcement on who took up all those new shares (10% of the Capital)
ahead of the now cancelled Cap Raise and whether that share issue will also be cancelled / refunded ? ;)

[Getty]

Monday I expect a notice that NTL is going to restructure its operation.

CEO role to become redundant & Jonu to become managing director.

I'm wondering why Murray Stevens was the first one to jump. Was he as corrupt as the other two chiefs of disservice.

Why don't us shareholders organize a get together on the day of Matt's trial?

A get together?

Is that a euphemism for a lynch mob?

[nztx]

Have the Aussie based Auditors resigned yet - or is news from WA slow coming over this way ? ;)

I hear that Auditors can put on quite a rendition when being finely plucked from a distance by a determined
interrogator .. ;)

[Paint it Black]

Sue gone!

Matt's board seat gone!

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02433450-6A1055012?access_token=83ff96335c2d45a094df02a206a 39ff4

Maybe it's time for Matt to book a spot with NZ MIQ.

It's Jane - Sue was the previous very capable company secretary you possibly remember. It's interesting no notice period was in place to transition unless this was agreed to be waived. To her credit Jane interrupted the ASM to advise shareholders were calling her to say they could not lodge their votes on line, which resulted in a second round of votes, and may have been crucial. Matt's continuation as CEO should assist the transition but very temporarily I would have thought. We now look forward to hearing about the new Board - quite a week!

[nztx]

It's Jane - Sue was the previous very capable company secretary you possibly remember. It's interesting no notice period was in place to transition unless this was agreed to be waived. To her credit Jane interrupted the ASM to advise shareholders were calling her to say they could not lodge their votes on line, which resulted in a second round of votes, and may have been crucial. Matt's continuation as CEO should assist the transition but very temporarily I would have thought. We now look forward to hearing about the new Board - quite a week!


Yes - I believe you're correct - Sue Sangster - there was a temporary fill in, in the role between Sue & Jane
from my digging through past NTL filings on NZX


From Bloomberg:

https://www.bloomberg.com/profile/person/5704859

[Getty]

Yes - I believe you're correct - Sue Sangster - there was a temporary fill in, in the role between Sue & Jane
from my digging through past NTL filings on NZX

Is that the same Susan Sangster that used to be Frank Renouf's cook?

I heard she was pretty good at gold mining...

[nztx]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NTL/379113/354687.pdf


NZX Filing 14 Sep 2021

Issue of 335 MILLION Shares at A $0.002


Has anyone worked out who these were issued to ? ;)

[Weta]

A get together?

Is that a euphemism for a lynch mob?

I would never suggest anything of the like, but now that you have mention it... :cool:

[nztx]

Is that the same Susan Sangster that used to be Frank Renouf's cook?

I heard she was pretty good at gold mining...


Oh did he have cook by the same name ? ;)

Well - here's Heritage Gold's Sue Sangster back on 29 July 2011
filing the June 2011 Quarterly Report to NZX:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/HGD/211835/143360.pdf

[Getty]

I would never suggest anything of the like, but now that you have mention it... :cool:

We didn't hear it from each other did we?...

[Weta]

It's Jane - Sue was the previous very capable company secretary you possibly remember.

Yes, my bad.

Guess that shows how long I've been a part of this $hitshow.

[Getty]

Oh did he have cook by the same name ? ;)

Well - here's Heritage Gold's Sue Sangster back on 29 July 2011
filing the June 2011 Quarterly Report to NZX:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/HGD/211835/143360.pdf

I dont know about that document, but if you you find their marriage certificate, Frank's wish would be that you rip it up as quick as you can!

[nztx]

ASX:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02421339-6A1050252?access_token=83ff96335c2d45a094df02a206a 39ff4

Read the Final paragraph #4:



The Offer is not expect to have any Material Effect or consequence on the control of the Company


Just a mere 12% roughly of the pre-Offer Share Capital dished out to undisclosed Aussie Investors ahead of the next Cap Raise

So are these shares now going to cancelled & refunded as well ? ;)

[nztx]

I dont know about that document, but if you you find their marriage certificate, Frank's wish would be that you rip it up as quick as you can!


A long time since I heard mention of Frank .. sadly I missed stacking a few million Renouf shares coming out of the Crash, which
ultimately could have been million buck payday when the Aussies (BAPTOR) took a large fancy to what it turned into ;)

[nztx]

https://www.proactiveinvestors.co.uk/companies/news/61807/new-talisman-gold-mines-adds-to-management-team-72301.html


New Talisman Gold Mines (ASX:NTL) has appointed Ash Clarke of specialist accounting and business advisory company Bellingham Wallace as its virtual chief financial officer.

It has also appointed Francesco Girotto as its company secretary with effect from 16 September.

The appointments have increased the skills and resources available to the company to address the increase in activity as it moves towards production.

Bellingham Wallace provides growing companies with the skills and services usually found in an in-house chief financial officer.

Girotto has been a tax and accounting advisor in medium-small accounting practices in Australia for the last two decades.

He is currently the company secretary for Broken Hill Prospecting (ASX:BPL) and a number of private companies.

He replaces Sue Sangster who has stepped down after 11 years with the company.

The company has recently sent ore from the Talisman Mine to Newmont Mining’s (NYSE:NEM) ore treatment facility at Waihi for processing.

Indicative analysis of ore crushed at this time suggests the grade will exceed one ounce of gold per tonne and several ounces of silver per tonne.


16 Sep 2014

[nztx]

https://www.sharetrader.co.nz/showthread.php?386-Heritage-Gold-HGD/page195

Post #1941 21 January 2008:


For those interested!

Well done to Trent for managing to raise the 'capital' required in what could be termed 'difficult market conditions"!

Last paragraphs tell the story!

HGD
21/01/2008
PLACE

REL: 1633 HRS Heritage Gold NZ Limited

PLACE: HGD: Heritage Gold successfully raises $3.6M

Heritage Gold successfully raises $3.6 million in fully subscribed placement
and rights issue

In November 2007 Heritage Gold announced a programme for raising $3.6
million, through private placement and rights issue, to fund its exploration
programme for 2008/2009.

The placement of 36,000,000 new shares and free attaching options was
successfully completed on November 21 with strong market support.

The Heritage Gold rights issue gave shareholders the right to purchase a
total of 35,650,415 new shares, with 17,825,207 free attaching options on the
same terms as the placement. The issue closed on December 20 and 17,814,303
shares and 8,907,073 options were issued on December 24.

A further 9,000,000 shares and 4,500,000 free attaching options were taken up
on January 10 leaving a shortfall of 8,836,112 shares and 4,418,056 attaching
options to be placed by March 20, 2008 at the discretion of the Board.

Overseas shareholder rights of 2,307,660 were sold into the market under ASX
listing rule 7.7.1 (b) and the proceeds of $4,191.90 were distributed to
these shareholders in proportion to their shareholding.

Following Director approval, the rights issue shortfall of 8,836,112 shares
and 4,418,056 free attaching options has been placed and the shares and
options issued by Heritage Gold today.

"Given the current state of play of the market the successful completion of
our capital raising is a tremendous vote of confidence in Heritage Gold and
its new focus" says Trent Lash, Managing Director.

The company now has the money to advance exploration on its key gold
tenements and begin preliminary exploration of its recently acquired base
metal and uranium licences.

Heritage is ideally positioned to benefit from the renewed enthusiasm for
gold stocks, resulting from a current record gold price of around US$900 that is predicted to go even higher.

Any drilling success on its high quality gold projects in the Coromandel
region of New Zealand can be expected to have a material impact on the share
price.

Sue Sangster
Company Secretary



Sorry but the Last Paragraphs don't tell the updated story in this case ;)

[nztx]

I dont know about that document, but if you you find their marriage certificate, Frank's wish would be that you rip it up as quick as you can!


Posting #1195 under (3 July 2007) tends to clear up any misunderstandings on the Susan's:


https://www.sharetrader.co.nz/showthread.php?386-Heritage-Gold-HGD&p=143830&viewfull=1



Heritage gets a mention in the business gossip section of the SMH


http://www.smh.com.au/news/cbd/direc...08.html?page=2

Sangster in company

Socialite Lady (Susan) Renouf has popped up in all sorts of places before - but company secretary of a Kiwi gold explorer?

Before becoming Lady Renouf in the '80s when she married the late Kiwi tycoon Sir Frank, the Toorak resident and grand dame divorcee was known as Susan Sangster after her union with racing tycoon Robert Sangster.

So we were rightly shocked when Susan Sangster recently popped up on a disclosure notice for Heritage Gold.

But it turns out Susan Lee Sangster is a "respectably married mother of several children" who lives in Auckland and is not linked in any way with Lady Renouf. "I followed the other Sangster's exploits with interest [but] although I am an Australian ... I never made the connection," Heritage's chief miner, Peter Atkinson admitted. "[Mrs Sangster] is a good honest Kiwi."

But he joked he would consider hiring Lady Renouf as a fine covergirl for a Heritage Gold annual report.

[Bluemanarc]

What is Mat Hills net worth ?

He must have massed a fair bit of a property / business empire on 400k for all those years.

Just saying.

That empire built on truth and honest non corrupt corporate activities ?

[Weta]

What is Mat Hills net worth ?

To state the obvious, the general consensus around here is that he is worthless.

[Baa_Baa]

To state the obvious, the general consensus around here is that he is worthless.

Quite the contrary actually which is the conundrum. He has a large shareholding via various entities, in the top 20. He is also a specialist in capital raising. The company needs capital, a lot of it, to really make the shift. Despite the lack of performance moving from explorer to producer, he has enabled the company funding. If he goes I think the Board have a very serious problem which could set the company back years. All the IP and the avenue to capital could leave. How would you feel about owning a gold mining claim without any of the core skills you need in your management team?

[Weta]

Quite the contrary actually which is the conundrum. He has a large shareholding via various entities, in the top 20. He is also a specialist in capital raising.

How many millions have been raised over say the last 10 years? What percentage of that revenue has been converted into an actual useable/tangible asset?

Matt wouldn't be anywhere near as good at raising capital if the majority of what was raised didn't end up in his own pocket.

[Brain]

Quite the contrary actually which is the conundrum. He has a large shareholding via various entities, in the top 20. He is also a specialist in capital raising. The company needs capital, a lot of it, to really make the shift. Despite the lack of performance moving from explorer to producer, he has enabled the company funding. If he goes I think the Board have a very serious problem which could set the company back years. All the IP and the avenue to capital could leave. How would you feel about owning a gold mining claim without any of the core skills you need in your management team?

The annual report records Hill as having a beneficial interest in 43M shares which is less than half of Jonu’s holding. Hill hasn’t increased his shareholding in years. He has shown ability in raising capital but to what end? Shareholders need to know whether or not this is a viable mine and if so how much further investment will be required. I cannot believe that mining Talisman is an easy task that was extremely badly mismanaged but possibly a very difficult task that has not been managed very well. The other possibility is that this is an impossible task due to mine access difficulties , blasting restrictions and generally difficult geology and shareholders need to know that so they do not loose any more money.

[Bluemanarc]

I am not talking NTL funding or worthless holding in NTL.
I am talking personal funds and assets accumulated and appreciated whilst robbing NTL blind with his salary plus other dealings.

BTW
You should hear him mouthing off on Hot Copper now under Spy1

[nztx]

From one of the posts:


One star a***ed two headed frog gets run over and your stuffed

Isn't that just what happened ? ;)

or did Two or two and half get caught in the headlights & get flattened ? ;)

[nztx]

Who is 'bizzo' over there on Copper?

To quote another earlier posting over yonder:


The mine does have ore and it does have some VERY high grade ore .
When I mined a parcel of ore and took it to Australia it Averaged 214 grams a ton.
We had assays of 1000grams a ton.
It just needs a new board and new mining contractors .

[nztx]

How many Directors we got now ?

How long before NZX & ASX call time & into suspenders - if too few on the Board ?

Also a vacant spot for the polisher up & keeper of the filings to the Exchanges & Officialdom
since Jane Beancounter or should that be Record scribbler did a hasty exit job .. ;)

We seriously CAN'T allow ASX & NZX put pay to our hearing further chapters on the HGL/NTL
long winding story - JUST when things could potentially start to get interesting with updates
on what's been going on and the NEW BOARD'S Assessment on whether things look
like there is some chance of light at the distant end of the Tunnel .. ;)

[bucko]

BTW
You should hear him mouthing off on Hot Copper now under Spy1

Hilarious!

Mr Hill stepped down from the board so a step in the right direction. Love seeing Jonu get to work.

[Sideshow Bob]

Now updated on the NZX - Situations Vacant:

Shareholder Update - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/380658)

Director and Company Secretary Resignation - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/380657)

[Sideshow Bob]

One more director:

Shareholder Update - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/380674)

New Talisman Gold Mines Ltd announces it has elected Independent director John Upperton to the Chair of the Board.
The Company further announces the appointment of new Independent Director Calum Kerr McKenzie MBA, a large scale and successful farmer in Northland. Mr McKenzie, having observed the sentiment of the recent ASM, and the turbulent week the Company has just experienced, has accepted this appointment on an interim basis to bring stability to the Company.

The Board would like to acknowledge the professionalism of departing Company Secretary Jane Bell, who has agreed to assist in transitioning the role to a successor. Ms Bell has performed above the Call of Duty in the circumstances and the Chair thanks her for her efforts.

The Board looks forward to rebuilding its skills base and will be looking to appoint further Directors in the coming weeks.
Front and centre for the Board is the sentiment expressed by shareholders at the recent ASM.

The Board notes the stability in the Company share price in the last few trading days, despite the turbulent week the Board has experienced. A message has been sent by the Company's owners. Shareholders can rest assured that message has been heard by their Directors.

Mr J Upperton
Chairman
New Talisman Gold Mines Limited

[Landyman]

Wow - that took a bit of reading. Times are a changing.

Agree, losing Matts ability to raise capital is a problem, however his (and his teams) ability to make any progress at mining has been his downfall (ridiculous salary too), current position was inevitable, there have been so many broken (hill) promises that future CR were in doubt of being successful. Off the top of my head there was the on-site processor plant that failed, then potential using chemical treatment to process (was it microbes), the previous call that NTL was full-funded to achieve what they needed to but now we hear its $12m away.

Very tough position to be in, and surely NTL is now prime for take-over - unless its not worth it.

Fun times. Boom - Jonu - lets hope for some better governance

[Chippie]

Jonu / John Upperton is shaking things up, which is encouraging. We cannot be any worse off and need to either get gold out of the ground or else cut our loses.

[Hawkeye]

Wow - that took a bit of reading. Times are a changing.

Agree, losing Matts ability to raise capital is a problem, however his (and his teams) ability to make any progress at mining has been his downfall (ridiculous salary too), current position was inevitable, there have been so many broken (hill) promises that future CR were in doubt of being successful. Off the top of my head there was the on-site processor plant that failed, then potential using chemical treatment to process (was it microbes), the previous call that NTL was full-funded to achieve what they needed to but now we hear its $12m away.

Very tough position to be in, and surely NTL is now prime for take-over - unless its not worth it.

Fun times. Boom - Jonu - lets hope for some better governance

I dont think the governance can get worse.

Do we think the new independent director has plenty of skin in the game too?

[nztx]

Dependent on how long the CEO stays around - most would certainly hope that the new Board work the ring off him
to make him earn his keep and make up for the past - absent on full pay, hiding out in Oz, whatever the case may be ;)

Go the New Board - Well done Jonu - keep that Flame Thrower well primed :)

[Snow Leopard]

So who is on the board now?
Is it just jonu, the hobby miner & the farmer?

And who is employed by the company, are they down to just a CEO?

[nztx]

So who is on the board now?
Is it just jonu, the hobby miner & the farmer?

And who is employed by the company, are they down to just a CEO?


think you're correct there

Wonder if Peter Atkinson is still about ? - he probably knows the territory well

[Weta]

Do we think the new independent director has plenty of skin in the game too?

As at 12 March 2021 the new "interim" director was not a shareholder under the name provided in the release. (Calum Kerr McKenzie)

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/04A84EC3FB0314095E276194E31FF583


That said, neither were two of the three directors that had just resigned.

[Weta]

Good bye Murray.

13067



Good bye Charbel.

13068



And one half of a good bye Matt.

13069

[Getty]

Are those mugshots from Police Ten 7?

[dubya]

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/04A84EC3FB0314095E276194E31FF583



Great reading. Thanks for that Weta. Much appreciated

[Brain]

So who is on the board now?
Is it just jonu, the hobby miner & the farmer?

And who is employed by the company, are they down to just a CEO?

Another first for NTL. Probably the only public listed company with only one employee being the CEO.

I really hoped this works out for shareholders.

I hope It does not turn into a joke.

Jonu,a hobby miner,and a farmer walk into a bar

…………….

to be continued

[Landyman]

Jonu,a hobby miner,and a farmer walk into a bar

…………….

to be continued[/QUOTE]

hahah, thats gold!!!

[Getty]

Hey Jonu,

Permission to enter the mine please, to rescue my pet Powellian snails, before you blow the whole thing sky high.

Some of us are not used to this level of progress!

[Sideshow Bob]

I reckon ripe for a Discovery series of "Kiwi Gold Hunters: Talisman"

Charge Discovery oodles for the rights, and shareholders keep 50% of any gold found.

Reckon its the best hope.

Yes, it is a slow Monday arvo.......;)

[whatsup]

Who was the geo who left very quickly a few years ago, was it Mat someone ----- ?

I wonder if he is still around/ available , if so would he be available as a consultant to give a heads up on the current state of the mine and a way forward ?

[Getty]

Who was the geo who left very quickly a few years ago, was it Mat someone ----- ?

I wonder if he is still around/ available , if so would he be available as a consultant to give a heads up on the current state of the mine and a way forward ?

Do you mean Tony Haworth, who was a geologist?
Resigned 1st Sept, 2020

[whatsup]

Do you mean Tony Haworth, who was a geologist?
Resigned 1st Sept, 2020

No before him .

[Getty]

The only other I recall is Murray McKee. but not a geologist.

[Paint it Black]

No before him .
Possibly Wayne Chowles while he is a mining engineer no doubt he has good geology expertise.

[dubya]

I am not talking NTL funding or worthless holding in NTL.
I am talking personal funds and assets accumulated and appreciated whilst robbing NTL blind with his salary plus other dealings.

BTW
You should hear him mouthing off on Hot Copper now under Spy1

If it is him? (SPV1) there's no love lost between him and the new Board member when reading today's post(s) :scared:
A most dysfunctional and abrasive and toxic relationship at best!!! (if it is him)

[Weta]

Look here for a list of past & present directors.

(You may have to click on "Show History")

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/276623/directors?backurl=H4sIAAAAAAAAAC2LMQoCMRBFT2MaiwUb q0GsbLYQ9AKfzKCBzSRmJit7e8Ni99%2Fj%2FaniJTbFkis0jW WCFt%2BXXFjIHMpoHHyrQqKefCThQyrfo2NJlqGH0zmAV2gUvk NlIW9dwl5vz3E0us7znx8O73Zrpddd%2FwC5IZ8rfwAAAA%3D% 3D

[whatsup]

No none of these, he was a geo.

[Weta]

No none of these, he was a geo.

https://www.nzherald.co.nz/business/kiwi-miner-talisman-finally-hits-paydirt/RRUUNFJMK45PWP5ZCVEGIGAB4I/

"Geologist Murray Stevens in Talisman Mine, in the Karangahake Gorge between Paeroa and Waihi. File photo / Glenn Jeffrey"

Murray left last week...

[Weta]

https://www.nzx.com/announcements/364819#:~:text=Mr%20Stevens%20is%20a%20consulting, corporate%20member%20of%20the%20AusIMM.&text=It%20is%20a%20leading%20New,historically%20mo st%20productive%20gold%20mines.

"The information in this report that relates to exploration results, exploration targets and mineral resources is based on information compiled by or supervised by Mr Murray Stevens. Mr Stevens is a consulting geologist and director of New Talisman Gold Mines Ltd, who is a corporate member of the AusIMM. Mr Stevens has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 and 2012 Editions of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Stevens consents to the inclusion in this report of the matters based on his information in the form and context in which they appear."

[nztx]

SP $0.002 today

[nztx]

https://www.nzherald.co.nz/business/kiwi-miner-talisman-finally-hits-paydirt/RRUUNFJMK45PWP5ZCVEGIGAB4I/

"Geologist Murray Stevens in Talisman Mine, in the Karangahake Gorge between Paeroa and Waihi. File photo / Glenn Jeffrey"

Murray left last week...


That's back on 7 Nov 2014


Fifty tonnes of ore sent from the Talisman Mine, between Paeroa and Waihi, were analysed and found to contain 64.5 ounces of gold and 227.3 ounces of silver at a recovered grade of 42.56grams per tonne (g/t) and 150.01g/t respectively.


almost 7 years later, no further pay dirt ? ;)

(unless all the gold & coin flowing in from Stakeholders' wallets & purses is included as recovered / heisted precious metal ;) )

[Weta]

That's back on 7 Nov 2014

I know, whatsup is in search of a former NTL geologist for some reason.

[nztx]

I know, whatsup is in search of a former NTL geologist for some reason.


I recollect Peter Atkinson was a former Geologist

[Weta]

I recollect Peter Atkinson was a former Geologist

After seeing this, I don't think we'd want Peter Atkinson back.

https://relationshipscience.com/person/geoffrey-guild-hill-3685075

[Brain]

After seeing this, I don't think we'd want Peter Atkinson back.

https://relationshipscience.com/person/geoffrey-guild-hill-3685075

The best man to talk to is Wayne Chowles and I am sure the new board would realise that. Unfortunately the fact that he did resign from the company probably means that there are substantial problems with either the mine or management. In the chats that I had with him he enjoyed engineering and previously worked in a deep gold mine in South Africa.

[Landyman]

Love to be a fly on the wall - generally you wouldnt expect you Board, or Chairman of the Board to be active in the day to day stuff, but with Matt still at the helm, and few other employees, guess they will be trying to sort everything out as quickly as possible. A roadmap of the future plans with costing will be awesome to see.

[Snow Leopard]

And then they were gone. :)

[mfd]

I wonder if they will be pitching themselves to OGC now the parasites have been removed? Local operation, now with much more cash to throw around with Didipio back online. Could be the easiest way forward.

[Getty]

Top marks to Jonu, for pruning the dead wood out at the stump.

It appears no one will receive any payment, unless they are adding value.

Lets hope for no lawsuits, along the lines of unfair dismissal, etc.

[percy]

Top marks to Jonu, for pruning the dead wood out at the stump.

It appears no one will receive any payment, unless they are adding value.

Lets hope for no lawsuits, along the lines of unfair dismissal, etc.

Trying to argue "unfair dismissal" would be mission impossible,and likely cost the plantiff a fortune,as well as costs.

[Getty]

Trying to argue "unfair dismissal" would be mission impossible,and likely cost the plantiff a fortune,as well as costs.

In essence, I agree, but employment law, and contracts can have snags for the unwary, particularly involving proceedure.

The Employment court makes frequent judgements and penalties against employers because of that.

[peat]

so was Asia Pacific Capital Group Ltd Hill's personal entity for contracting to them?

[Weta]

In NZ, as far as I'm aware, you can't make a person redundant.

What could/should be done is to make the position (CEO) redundant & replace that position with a managing director. The first requirement for the new managing director role could be to first be a director of the company.

The new board can appoint any director that they choose to with the recent vacancies, as we saw them do with Matt's patsy Wyse just before the AGM.

So if the current board has someone in mind to run the day to day operations, they first appoint that someone to the board, have them apply for the MD position then a week later offer them the position. Alternately, maybe this could be Mr. Rabone's forte and best value to the company?

Yes Matt was good at raising capital in his dubious ways, but that capital was raised to grease his own pocket, not to advance the company into mining anything.

I believe as a shareholder, anything that can be done to cleanse the company of Matt is a good move. Raising capital for something with a clear plan going forward to extract gold will be much easier than raising capital to buy a hobby mine & a holiday home in Vanuatu!

[Weta]

I'm wondering at what point will Jonu be inviting the SFO into the office to have a little look at the last 22 years worth of company documentation.

I don't believe the SFO generally files "civil" charges!

[Landyman]

Thats a decent broom Jonu has.

[t.rexjr]

Trying to argue "unfair dismissal" would be mission impossible, and likely cost the plaintiff a fortune; as well as costs.

He'd not want too much scrutiny of the the goings on I'd be picking. The Rats have fled for a reason...

Rat himself wasn't terminated is what I read. Perhaps just told to stay at home (and hopefully resign)

[Paint it Black]

He'd not want too much scrutiny of the the goings on I'd be picking. The Rats have fled for a reason...

Rat himself wasn't terminated is what I read. Perhaps just told to stay at home (and hopefully resign)

With Asia Pacific's termination surely this means Matt's resignation is not required. It makes the process very tidy for NTL I would have thought to avoid redundancy proceedings. Another case of Matt spending too much time trying to be clever with his corporate structures which has backfired.