I wonder if management had any idea this would happen (to this extent)
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I wonder if management had any idea this would happen (to this extent)
Sad day for NTL holders and not looking good for the company going forward.
A rare red arrow for my portfolio which reminds me to dust off my rule to 'avoid mining company shares.' Trouble is that my other rule was, 'all rules are made to be broken.' Thankfully only a small holding, but I certainly won't be taking up the SPP offer.
Lessons for us all in this one. Seems the market doesn't like the opportunistic nature, (and dilution effect) of the attempted cap raise.
Its hard to watch this and I absolutely hate the red arrow on my portfolio (because yes, I only just jumped on this bandwagon). This is a time where I think to myself, "a fool and his money are easily parted" or whatever that line is. :) Oh well, I guess I'll just have to wait it out and hope for the best to get my money back at some point, which must surely happen given they reckon the gold is in them thar hills.
How could they not expect that after throwing such a wild curve ball at their holders. They essentially prepared us a compliment sandwich - investor style - good news, controversial news, and finally good news. Except they forgot the sauces and they let the burger get too cold before serving it.
Lot of good comments on this latest developments.When you say the ASX led us up now down [SB888] you are to my mind leaving out a very big development. When it was led up
Andrew Little was head of the labor party. The changes since then have somewhat spooked NTL and I believe the AUS are more onto this that NZ.
The mistake that NTL have made is having the SPP this side of the election. The number one rule of equity markets is that they do not like uncertainties. Note over many decades the American market will go up a certain % if one govt gets in and will go up almost the same % if the other party gets in. But in the meantime no one knows so uncertainty.
On the broader picture NTL must win as the world is slowly going away from Bitcoins where again today you can read on OIL .COM that the govt are moving against them. Also the world has in the last few years not replaced its gold used.
shame I will not be going to the AGM as too hard getting in and out of Auckland.Much to discuss. I really liked the idea of making the product out of the mine having more gold but if this SPP fails we should keep that open and come back to it in the future [[AFTER THE ELECTION MANAGMENT PLEASE}}
Im waiting for "the ore concentrator is already on the boat" announcement because that's what I would be doing...start getting your ducks lined up asap.
Is there any way the spp can be extended beyond the 22nd? That would be a smart move to get the election out of the way. I suppose when this spp listing date was thought up National were going to romp through, prior to Jacinda jumping in.
This takes me back to Heritage Gold days 2001-2002. Lost a bit over $7,000 that time:D.
Might see Newcrest sniffing around?.
We got to have someone sniffing to get that gold out the ground. Gold fever has turned to drown sorrows in a bottle of jim beam fever.
This is a very strange notification around exercising options "in the money" etc?
This is a reminder that your listed options expire on Nov 28, 2017.
The options are exercisable at A$0.02 per option to convert into shares. NTL
has determined that it will also accept the New Zealand dollar equivalent
payment, being $NZ0.02165 per option.
The options are currently "in the money" and NTL shares have consistently
traded in the money for several weeks.
The company currently has a share purchase plan offer underway. NTL
encourage you to exercise your options, in conjunction with the share
purchase plan and accordingly to return your option exercise form as soon as
possible and by 22 September 2017. An early exercise of options will not
affect any Share Purchase Plan entitlement. If you do not exercise your
options by 22 September, you can still exercise closer to the expiry date 28
November.
Any documentation or payment received after 28 November will not be eligible
to convert to shares as the option will have expired.
If you wish to exercise your options please complete the attached form and
return as directed on the form.
November options "in the money' supposedly
This latest SPP might even alter their 'funded through to 2020' budget
How to shave $20+mil off the value of your company.