I take it they have never released the "agreement in principle" document and details to shareholders??
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With respect, your email received the appropriate and predictable reply, and at least the reply was prompt and courteous. There's no way a listed company is going to provide any information directly to a shareholder that is not privvy to the market. The FMA Act disclosures prevent that. That said, your email didn't actually ask any direct questions, though it did express your dissatisfaction and one would assume that of many shareholders.
Good on you Jonu for having a crack...
If the next quarterly is a rinse and repeat... As mentioned in the past an OIA to the Hauraki Council requesting all documents, emails etc relating to the Talisman TMP should flush out the information everyone is after... I can't see how a TMP would be commercially sensitive therefore be able to be withheld...
Yes, good on Jonu for having a crack at getting some info, albeit certain to be rebuffed. Shareholders deserve to be kept in the know, but this company plays it's cards very close to its chest. Not surprising perhaps, in that they have suffered the ignominy of the environmental and NIMBY crowd for donkey's years, so why would they say anything publicly that might draw further ire and undue contention?
Doesn't make sense to be a tall poppy beating ones chest in NZ, while defiling the indigenous landscape for capitalistic outcomes. Better to chip away at the fringes with the end goal in mind. One day they might dig up some gold and better still, enough to make a profit and make their share holders rich.
In the meantime, and it has been a long long mean time, this is and has been a traders delight. I know there are a few devoted who hate hearing this, but a little patience and a timely entry and exit, are making a select few quite a nice profit. The rest are just fodder, putting up their cash for the management salaries and the eternal promises.
I'm no greenie in case you were wondering, but I have an eye to the opportunity. This time around, NTL is plumbing the depths of their SP again and anything but stellar news will be reflected in a lacklustre SP response. The traders will be hovering here, looking to buy now or maybe a click or two lower, and ride the euphoria that will certainly be part of the NTL announce.
Talk about the rinse and repeat. There it is, there are only two parties making money from NTL. They are the management who can string the faithful along for god knows how many years, and the nimble traders who know how to buy into the depths of despair and sell into any SP rally, however small is still a sizeable percentage gain.
Think about it.
I don't doubt the traders hover around stocks like NTL but you need to take a look at the top 20 shareholders list. There are 3 Hill family entities in there in different guises, and as pointed out earlier they bought up large in the last cap raising. There is no incentive for them to sit back drawing salaries that are chewing up their own investment.
If there is an obstacle or problem, this could be consider material and would not be able to be 'delayed' until the quarterly for announcement.
However on the flip side, if there had been progress would this not also be material and have been released? Certainly there is appetite for any kind of news from shareholders.
Which concerns me as a holder that we may be in for another "still ongoing" type quarterly announcement at a time we should be deep into bulk sampling...
Its on! Really great news - SP reacting already!
The traffic management plan still isn't sorted though, and I didn't see any commentary on why its being held up so much given the approval in principle over a year ago?
I am pleased they can get in and start something, but still a bit cautious here.
From Robbo24 on Hot Copper...
"Mine construction mode ACTIVATED!
Talisman Deeps project in the lower levels appears to be a permitted activity.
Great work by NTL in hitting two birds with one stone and getting bulk sampling construction AND Talisman Deeps work underway at the same time.
This is really exciting stuff:
Many of the activities are core to safe operations at the site and therefore will not have to be duplicated upon commencement of bulk sampling under the resource consent.The works being undertaken at site include: -
? Perimeter fencing - erection of safety and security fencing around theportal site;
? Construction of the portal pad and associated structures;
? Ventilation fan - installation of a new ventilation fan at the entrance tothe mine;
? Installation of a Generator and Air compressor;
? Installation of reticulation services through the underground workings;
? Removal of old beams and replacement of underground structures;
? Sampling and Drilling at Mystery and other targeted areas.;
? Establishment of site office and security office;
? Road use and maintenance - to enable safe and efficient transport ofprospecting vehicles; and
? Vegetation management - trimming and weed control as necessary within thesite and within the existing footprint of the mine road."
Activities yes, but not the bulk sampling which still appears to be waiting for the TMP. Its great that they can start something, but its disappointing that a year on from announcing approval in principle and the capital raising on the basis of the bulk sampling starting within 6 months, that nothing has progressed on that front.
I agree Meister re the TMP delay and would really like to know what the issue is. If it's loading restrictions on the bridge or roads maybe there is a way to use smaller vehicles during off peak periods or do more processing at the site? I really hope the delay is not politically motivated. Surely the majority of the locals can see the benefits a boutique mine could bring to the community. I can see how management do not want to rock the boat if the approval is almost there but if they see that unreasonable political games are being played within Council then the matter needs to be quickly escalated to Wellington (well before the election).
Still, not withstanding the TMP, a very positive report with physical work now well and truly underway.
Excellent announcement. A week earlier than expected, with some tangible good news in there. Very glad to be in this one now.
Maybe we can reach 4000% gain within 7 years like ATM :-)
but the locals wont be happy. And no i don't think they see the benefits. It's a lovely place and tourism booming . Large car park full of tourists last weekend ,who wont want a mine... But hopefully the 2 can live side by side
Very strong announcement and a week earlier than expected I guess because they figured the Certificate of Compliance was news that was price sensitive. I agree with Robbo's post over on Hotcopper; it would appear they have taken some good plannning advice and managed to circumvent delays. Note they specifically mention traffic movements are allowed for.
Strong prospect of more gold lower down and Rahu underway which is money for jam. I note the ASX volume was 3x the NZX. Once the ASX wakes up to it the sp will look after itself.
And here I was worrying about a rinse and repeat Quarterly! Well done Matthew and the team...excellent progress.
Discl. Bought more yesterday post announcement.
Fairly muted response so far, although the sp has maintained a higher level. NTL shareholders are certainly a placid/passive bunch. Maybe because of the years of frustration of getting to this point. Hopefully that's behind us now!
Monday wasn't much of a trading day given many people took the chance for a long weekend. Check back on the sp in a week or so when news has spread and been adjusted for. Though I don't expect a huge jump, this is still going to be a slow burn until we get further along into production.
You might be right Antipodean. I still think it will be the ASX that will drive it. Our opening trade this morning...$300.... ASX opening...25k. I find it hard case about the length of time it takes the market to jump on board at times. Even 0.1 0f a cent means a 15% gain today. Last friday it meant 20%. The longer they wait the less the return. I suppose they see it as lesser risk. My motto DYOR and be happy!