pat NTL is not about him its the future we all are investing in .
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pat NTL is not about him its the future we all are investing in .
OK I'm just going to ask and get flamed or whatever. I could go away and spend a lot of time learning this or just ask here.
What exactly are these, what should I know on whether to get these, if I don't take up the offer can I pass on to someone else.
All I see this as now is why did they have to spoil the party, a few hours ago had a nice profit now back in the red.
I noticed that too, people were saying hold off on any big announcements till after the election, not a bad time to ask for more unassuming cash and crank up areas for production with the now greater cash flow post election, right as a potentially new government are still finding their feet, very switched on.
Is this new announcement just clarification to Paper Tiger here that they aren't breaking the rules ?
Agree it looks like he will only be able to apply for the 15k,the other shares he controls are excluded:-
Joint holders are treated as a single Shareholder under the Offer and together can only make oneapplication up to a maximum of NZ$15,000. If you own Shares through a trustee or Custodian andalso own Shares in your own name, then you may either purchase Shares yourself or instruct yourtrustee or Custodian to purchase Shares on your behalf, up to a maximum of NZ$15,000; you may notdo both.
Can one ruffle the feathers of a Golden Goose? ;-)
If you held ntl shares as of 7pm last Friday, you can buy up to $15,000 of shares in lots of $1,000 for 2.2c per share by application. For each 5 shares you buy you also receive 1 option, which you could sell on market, convert into a share by paying 5.5c before 09/22 or let lapse.
Shares will be equally ranked with other shares. You cannot pass the offer on (non-renounceable). Cannot tell you if you should or not, continue to research or seek financial advice. You should read the offer document in full.
Why they are doing this is in the offer announcement.
Well a lot of good explanation on this Ausi Share Trading Forum and a lot more positivity in the posts than what we are getting here.
The Ausies see all of this as good news.
https://hotcopper.com.au/threads/ann...e#.WaOcFWcUmpo
Yes, it is possible to buy on either exchange through the SPP. You could even buy on one and transfer to the other later.
Traders don't like capital raisings, let's face it, but investors who held on 25 August have an exclusive offer to buy at 2.2 cents and get some options for the trouble.
NTL doing a raising will annoy some people, and fair enough, but in the longer term we know that we could wait for bulk sampling revenue to come online and fund additional Deeps sampling over time.
Albeit, with the JORC upgrades from the Deeps project it seems like they have decided to go big. SPPs are kind of like a voting machine in that respect, if you don't want to go big then don't buy on the SPP. If the company doesn't raise enough to go big, then the fully funded bulk sampling project still goes ahead anyway.
My feeling is that the raising must have been done with a plan in mind, looking now for the company to unfurl its reasoning. AGM must be coming up soon, so they surely don't want to face a mob haha... Although given my participation in the rights issue last year I certainly won't be a member of that mob, NTL is doing great from my perspective!
What a day to be caught up in meetings all day. Haven't had time to fully digest. Long term this is fine I think, just makes quicker to wider production. Short term it's a pain in the arse and was always going to hammer the SP back to near the offer price.
Its from what's above 2200 shareholders @ max of $15000 but for which only 30% of the 2,076,995,855 can be issued (SPP ONLY ALLOWS 30%)
Therefore it is only 622,800,000 max number of shares can be issued at 2.2 cents or $13,701,600.
Theoretically if everyone was to apply they would be scaled back.
I think that's right but leave one of the boffins here to check those calcs and rules.
I must admit after a couple of hours thought and a quick Monday afternoon pint I'm best retracting my earlier facetious comments!
If the extra money is there to help take more gold out of the ground and sooner, and ntl are successful in doing so then it is a good thing.
I do sympathise with those who have bought in over the last few weeks though. Especially whoever bought 5m shares at 3c today!
What the ausies seem to be saying, after reading that forum.
Is that most likely between now and 22/9 they will release the news we have all been waiting for, that things are looking good, that they needed more funds to ramp up production.
AND, then people will take up the 2.2c raising of funds on 22/9 as share price will be a lot higher than that, due to the good news.
Apparently Charbel Nader doesn't do things by halves and has a record of getting things going and going big !!!!!
Big Paraphrase their sorry :)
They want that capital raising to work, reading between the lines, they cant release reports right now as they needed to have disclosed everything relevant before doing this capital raising.
That means we are a week or so away from the good news report we have been waiting for, and it WILL be good news.
As they want that capital to ramp things up.
So they will have set it up that way.
But I am confident and just got another 20k at 2.3 and I will take as much of my 15k at 2.2c as I can as well.
" they cant release reports right now as they needed to have disclosed everything relevant before doing this capital raising."
Surely they have the results of the JORC post peer review by now and are sitting on this and surely this is relevant.
They cant release it if it isn't completed, but I guarantee you it will be out at least a week before 22/9.
This is what the ausie chap quoted earlier had to say:
It's usual behaviour when a capital raising is announced. People sell down to the nearest pip of the capital raising price on the expectation that all other holders will do the same.
There's always opportunities...
First, the assumption that we've been given "bad" news before the "good" news gives rise to the possibility of a trade.
Second, the knowledge that "good" news is on the way albeit delayed behind 3 self-imposed deadlines by the company (Bonanza).
Third, some traders will take their capital elsewhere at a price below the SPP price which means there is an opportunity "buy below the floor".
Four, only those who held on 25 August 2017 can buy $15,000 each. That's all that is available. If "good" news comes out then any newcomers still have to buy on market.
Five, no shortfall facility with an SPP.
Six, getting some "free" options doesn't hurt.
Seven, the SPP price is above the NTLO price of 2 cents.
Eight, the offer document has just told you they are looking to maximise the bulk sampling to to concentrate up to 100g/t with 5x volume. Wow.
Personally, if they wanted to raise capital I would've preferred a placement at a premium, but seeing as I'm a shareholder I am certainly interested in the company telling/announcing to market the reasons why I should buy. Matt Hill and Charbel Nader can prove they are worth their MBAs by telling us all what they have in store for us.
I take it that's $20,000 of shares? Good job.
So anyone unlucky enough to have paid top cents today don't get the rights. That's a double kick in the groin feel for those guys. I was very close to getting $6k at .028 but had the courier turn up at the door. I might tip him next time I catch him, and will decide whether to get some at open tomorrow.
Was aghast when it went down to 2.2 but reading whats happened since has got the breathing back to normal.
Normally the results are put out, first, if good ,the price goes up, a presentation may arrive, then a cap raising announced discounted on the new high s/p; this is really bizarre imo and a little scary for holders. Makes you wonder if there is anything there; having been hollowed out with re 38 km of tunnelling/ mining being done by previous miners taking out all the veins they found. Who in their right mind would take up the spp without a good announcement re bonanza etc.
Tis odd. For the guru's - does it matter when you submit for the SPP or does it just have to make the closing then be subject to scaling (if needed). It seems like this will be a no brainer, or not. One would think it would be the former assuming management have a good feel for what is in there.