Matt Hill did, took up his rights.
The sell done is on, nice 40% lift for those who want out.
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Matt Hill did, took up his rights.
The sell done is on, nice 40% lift for those who want out.
'With the price of gold now exceeding NZD2,000/oz it is expected that the project will be
self-sustaining at these levels'
Not sure what kind of rates this statement was based on because when it was made it was closer to 1850NZD. It's creeping higher but it makes we wonder what over exaggerations have been made...
Anyway, I'm bullish. Just don't like to see these 'mistakes'.
Is this going to self-update? ANZ Securities have added the full amount to my portfolio...which I didn't take the full amount
Is it just me or does this imply we have 100% Rahu also? Did someone mess up?
"New Talisman retains a 100% interest in the Talisman Mine and Rahu Project which is immediately to the north of the Talisman mine in New Zealand."
(emphasis mine)
I like this part though:
"Based on the average ore reserve grade of 10.8 g/t gold, a 90% recovery and US$1,300 per ounce gold price, revenues of NZ$30 million could potentially be generated."
Not bad for a $10-12m mcap company.
Big anomaly between AU and NZX sp this morning. Bid at 0.8 Aud and 0.6 NZX
They are pre open bids... so have to be taken with some salt. Still it is a big difference at the close on ASX compared to NZX today.
Perhaps many more on the NZX side picked up rights and are selling for a quick profit?
Makes me wonder if raising fewer shares at a higher price would have been the way to go.
Opened at 0.8c with huge buy depth on the AU side. Is the AU side a bigger holding?
70% interest share for Amer group possibly, as per Report The Chinese get everywhere. Does that mean they would own 70%of the company ? Should help SP, but sad to see everything in NZ having a cut to China . We often walk the tracks in the gorge near the mines, beautiful area. and of course it is very close to Waihi mines just sold to OGC. May be one day they will take over NTL . There are some nice guides showing photos of the old 1900 workings, some of which are still around .
What we know is in the 16 June 2016 announcement (http://nzx.com/companies/NTL/announcements/284172) - Amer wants a 70% share and there is a non binding MOU to look into this further. At some point the details of the offer will need to come out and then it is up to current shareholders if they agree or not. All takeovers code and overseas investment criteria will need to be met.
At this stage the offer includes 'cash subscription' and 'profit underwrites over a 3-year period'. The recent well supported CR demonstrates we really don't need the former, and if the bulk sampling comes back anywhere near what the surveying indicates is there, then it is quite possible we won't need the latter either.
Which begs the question - why would current shareholders want in on this deal unless the price was substantially higher than it is now? Why should another company (doesn't matter if foreign or not) swoop in after years of loyal support from shareholders and reap the biggest profit?
NTL does not have a majority shareholder so no one person or group can make this occur (http://www.business.govt.nz/companie.../shareholdings).
Thanks Antipodean, it will be interesting to see how things turn out. I agree with you.
Agree. Given that HGD/NTL have managed to keep themselves afloat for long enough to (almost) become a producer, then the AMER money doesnt seem necessary. For me it could still be a positive, if AMER want in, then they will need to offer/pay a fair market price (which wouldnt have been the case if NTL were about to fail), so share holders could potential recognise their gains sooner rather than later.
What that fair market price is today, well, lets see.