NAA meaning newly available to be prospected or for the prospecting rights? Big difference
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Hi jonu, do you believe this is good or bad news for us?
Its BAD
NTL
22/01/2016 12:45
MINE
PRICE SENSITIVE
REL: 1245 HRS New Talisman Gold Mines Limited
MINE: NTL: Rahu Update
22nd January 2016
FOR IMMEDIATE RELEASE
RAHU UPDATE
New Talisman announced today that pursuant to the Heads of Agreement with
Newcrest Mining Limited dated 19th May 2015, the parties are working together
on options available to them following receipt by New Talisman of advice on
12 January 2016 that its application for an extension of land over Rahu had
been declined by New Zealand Petroleum and Minerals.
Matthew Hill said that "New Talisman is excited by the prospect of working
with a major international gold producer on the discovery that New Talisman
made at Rahu. We continue to progress the options open to us in the spirit of
the Heads of Agreement and will update the market in due course."
For all we know this could just be the update of the now-outdated exploration permit formally being cancelled.
Only the insiders whether it's going to now become mining permit or not?
Follow the exec monies...... I've done this quite a few times on ASX shares where the directors bought up just before a pending market announcement, and the result was SP increased significantly and I cashed up making several thousands on top of my initial capital once all settled.
Excited that it was declined? Excited that his recent share purchase (or was it just a transfer) is worth less? Excited that we are all incredibly patient and optimistic? :scared:
Certainly not good in the short term. Sellers already lining up. I don't think it changes the long term outlook too much. More than one way to skin a cat. NTL still holds the info on the area.
Jonu, is that you, 1m at $0.001?
They were notified on 12th January. Why has it taken this long to let us know?
Correct, it is unacceptable. They have done this in the past re: the potential investors before the potential chinese investor. Weeks went by and they knew the first investor walked away. Then, when they updated, they said they were looking at other options. I Think if someone wanted to put a formal complaint in, they would get their arse kicked by FMA with a nice big fat $400,000 or there abouts fine. It would certainly make them think think twice before leaving it so long to inform the market next time.
On a side note. If they know longer hold Rahu resourse, what would that reduce their net tangible assets by?