When is the next report - end of month? Some interesting reshuffling going on depth wise in the NZX and ASX listings. Could be nothing, could be something?
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When is the next report - end of month? Some interesting reshuffling going on depth wise in the NZX and ASX listings. Could be nothing, could be something?
Quarterly report due at the end of this month ....... they did say at the AGM the Amer discussions should be wrapped up by then ..... seems to be a little more buying interest on both the ASX and NZX ...... maybe more after the reports??
Quarterly report at end of month - I would like to see an update on the following:
1) Bulk sampling - which was initiated post very successful CR and expected to finish within 6 months.
2) TMC - been approved in principle since 'ages ago'
3) Amer - Are they still after 70%? what do they want? what do they bring to the party?
Also would be nice to hear what is going on progress wise with Rahu but situation may not have changed yet.
I could be wrong but I thought their recent communications last year mentioned the traffic management situation still wasn't fully signed off, I didn't think they could progress to proper bulk sampling without that.
I think we will see great progress this year but not expecting wonders at this next update. Sadly things tend to move slowly for NTL
Maybe the managers need to stop dining on escargot, and get some hare into their diets.
NTL - 2017 is their year!!
My wife and i climbed to the top of Karangahake mountain over the new year with commanding views to auckland and Waihi . Fantastic walk. Hard work, but worth it . Certainly no lorries going up crown hill rd . And no evidence of earth moving vehicles and the roads are quite small. From the top we could see large earthworks more over to the western side with exits to Rotokohu Rd . But not necessarily mine works, but i would like to think it is . Ive been unable to find any signs for the NTL mine. I doubt they would go in from where all the tourists are. Probably with good reason . There is a bridge too that goes over the river, at the gauge and i wonder if lots of trucks would be allowed to go over that frequently. It would make sense to go out west but thats away from Waihi if thats where they intend to take the ore.
For what its worth.
Sounds like they've started work on the access road ....... anyone local like to check it out?
Attachment 8618
The golden brick access road :-)
Quarterly probably due Friday 27th or Monday 30th if last year is anything to go by. Then it was released Friday 29 Jan.
NTL Quarterlies often come out on the last day of the month - so I wouldn't expect anything until Tuesday 31 Jan.
Looking forward to see what NTL have been up to while they are all cashed up. Also some clarity on AMER would be nice.
Latest Quarterly Report out...
https://www.nzx.com/companies/NTL/announcements/296162
Is. That. It??? Not much at all!
They raise $6m and they still operate this company as a man and a dog outfit.
Guess the SP will continue sideways until NTL gets an approved traffic management plan ...... I think that's the only holdup. Surely it can't be too far away?
Copy of my HC post:
How can NTL explain their projected development costs being dwarfed by their Staff, Admin and Corporate costs yet still spend over half a million in one quarter???
Column 1 Column 2 Column 3 9. Estimated cash outflows for next quarter $NZ’000 9.1 Exploration and evaluation Nil 9.2 Development 200,000 9.3 Production Nil 9.4 Staff costs 56,650 9.5 Administration and corporate costs 275,000 9.6 Other (provide details if material) Nil 9.7 Total estimated cash outflows 531,650
It has to be the TMP... Why spend money on a mine if you have no guarantee you can access it!!!!
It appears NTL has gone backwards ("continues to engage with the council and other stakeholders to achieve a design")
I have some inside knowledge of a NZ residential section development where the access was almost identical from a main road. In that case the developer was forced to pay for new turning bays and road widening on the main road, tar sealing, storm water and widening of the access road and the big kicker the replacement of a one lane bridge with a two lane bridge also on the access road.
Trust me this roadway will cost a small fortune if the Hauraki Council demands half decent upgrades!!!!
It doesn't matter if your CEO has stock if shareholders let them draw well over $1,000,000 in salary until the money runs out...
Not many cheerleaders here today after these two announcements!!
The companies office website still shows issued shares as 817722586 whereas there is over 2000,000,000 on issue. These guys can't even keep ahead of basic paperwork.
Where are those costs from Stock Rooster? Section 9 in todays quarterly is regarding tenements. I certainly hope column 3 is not actually in $NZ'000 - I wouldn't want estimated cash outflows to be $531,650,000!
Quarterly cash report...looking fine. $6,027,781 in the bank, YTD burn is $1,026,637 and last quarter burn $430,508. 3.5+ years of cash at current rate, though it is expected that this rate will increase when things start moving... so moving along to activities report....
TMP lack of progress is frustrating, and reports that "...progress is not as rapid as initially hoped" are disappointing. Working with councils means not rapid and disappointing are always possible. Still NTL has dealt with the council on all the other consents so very frustrating this cannot seem to get over the line.
I am also disappointed that no further details regarding the potential deal with Amer were forthcoming. While I am glad NTL are not simply rolling over to them - judging by this lovely line "...however agreement on material matters such as valuation, and asset composition, are not at this stage in a form capable of being considered by the Company and its Shareholders". I still feel somewhat in the dark regarding this potentially significant negotiation.
Rahu carries on, I guess. Nothing definitive at this stage but expected.
I sincerely hope for some more news before the next quarterly.
Figures cut and paste straight out of the Cashflow Report.... Agree with the $NZ'000... They should fire their accountant haha
Don't think they bother with their website any more ....... have emailed them a couple times re top 20 shareholders with no response/action ..... thought the new secretary may help but obviously not.
There's no doubt they need to get their act together ...... they were quite efficient in their cash raising (even replied to an email from me!) so they can do it.
Disappointing Quarterly, no doubt about that. The TMP parties need a rocket, it can't be that complicated. Especially as they have agreement in principle. The Amer situation doesn't really surprise me. I think Amer have missed the boat in the cheap bargain they were looking for. Their best bet maybe to quietly accumulate on market for a while.
Having said that, there are no nasty surprises, just a snail's progress on all fronts.
From last years report
Mine Access and Consenting
NTL has secured all necessary permits and consents to begin operations and has secured an agreement with the Department of Conservation to close the land to public access of the mine portal area once work commences on site.
Traffic Management Plan
The traffic Management Plan has been approved in principle by the HDC. The plan sets out an analysis of the risks involved with roads transport and the company’s approach to managing these risks. The plan proposes a series of controls, ranging from limitations on speed to structural alterations to the road, aimed at eliminating the risk, isolating users from the risk or minimising the effect of the risk. This approach is consistent with the intent of the 2015 Health and Safety at Work Act.
I sort of naively took this to mean they had traffic sorted.
Therein lies the fineprint - Approved in principle...
As frustrating as it is with the time it's taking for the traffic planning, I'd rather that any foreseeable problems such as vehicle bottlenecking, unexpected vehicle breakdowns or emergency vehicle access are planned out well in advance of mining activity started.
We don't want another Pike on our hands - That incident has had an influence on NTL with the H&S and traffic planning.
I'm getting a bit sh*tty with speed of progress as well but, we all know the drill.
Council inspector comes to your site to view progress, note down what you need to do, you pay to get necessary works done, resubmit to council, new council inspector comes to your site and finds a flaw with your earlier progress that previous inspector had no qualms with, you pay to get additional things sorted, lather, rinse, repeat.
Someone sold 80,000 shares for $320 into 0.4c line, likely to make sp appear weak.
Edit*
Aaaand someone (else?) put it straight back up to 0.5c...
I can only hope that once the road is complete then the electrical reticulation ,ventilation , reinforcement and what ever else is needed for this mine to operate has already been designed,ordered and delivered so that there are no further delays. These guys have to start digging out gold. Unfortunately it would be worth betting that this will not happen as I do not have much faith in the management and directors.
There might be a mentality here that if they don't do anything they won't make mistakes. They need to set deadlines and no excuses.
TMP is a big issue at the moment for investor confidence. It was approved in principle way back in 13/04/2016 (NZX annoucement). Also just going back through that it mentions an independent review which found
"The independent report showed that volumes of vehicular and non-vehicular are low and that the level of vehicle movements contemplated by NTL will have an insignificant effect on the efficiency and safety of the roads in question"
If the effects are insignificant, what is the massive hold up? Did council put a bunch of burdensome requests on NTL - cause reasons? Did something change between now and then?
Looking back we also have this statement from that announcement.
"The granting of the Traffic management plan demonstrates that NTL can progress its plans under the resource consents granted by HDC"
Hmmm, bugger.
We can only hope that the below statement from the recent quarterly activities means we will have a positive announcement for this in near future (ideally well prior to next quarterly).
"... and having completed the preliminary roadway design, the focus remains on agreeing the final road design parameters with local council."
Hence, TMP completion is crucial to confidence going forward.
"The granting of the Traffic management plan demonstrates that NTL can progress its plans under the resource consents granted by HDC"
If this isn't misleading by leaving out "in principle" it is certainly presenting the information in the best possible light haha.
2017-2025 Predictions:
1. Hauraki Council demand major upgrades to roadway not anticipated by NTL including possible work to the bridge adjacent to SH2
2. If any site work commences protests featured on the national news due to possible effects on Karangakahe Tourist Park and residents
3. AMER walks after realising that unless resource consent issued for full scale mining being involved doesn't move the needle
4. Treatment of ore becomes an issue
5. If the project isn't abandoned another capital raise is required for bulk sampling commences
I believe NTL deserves to trade at a discount to cash holdings. A lot of this has to do with the companies performance but also New Zealand red tape and public perception of mining which will make it difficult to ever start mining let alone be profitable.
All right, I'll bite :)
#1 Hauraki Council has no basis to demand any of that, and has been working with NTL throughout the multi year process so far. Councillors like good new job stories which NTL could be.
#2 Will occur, but it won't stop the re opening of the mine. Not all of NZ opinion is against mining, just a vocal minority. Remember the last attempt to take on NTL at court? Summarily dismissed for lack of any evidence.
#3 Amer didn't get the cheap deal that they wanted, they may yet walk away but what do we lose? As far as we know - nothing.
#4 Possible, always issues to be overcome.
#5 A risk for any speculative stock isn't making money. NTL have all the money and time to achieve what they have advised.
I disagree re discount to cash holdings - there is certainly value to progress so far (even if we would like to be further progressed).
Antipodean... For some reason I have decided to keep following and ride the directors of this company... Its a bit of a "going short" project... I am actually one of the few shareholders who haven't made a loss on this over the years which makes it a bit strange haha
Is anyone else is willing to go on record with their 2017 predictions??????????
I have obviously gone extremely bearish... but I could be wrong
1 cent by Dec 2017, provided an actual TMP gets formalised and announced.
I'd actually be happy with that.
With regards to TMP, I wonder if the continuous review of roadway design implies the need for a separate roadway each for the entry and exit of mine?
This coming back to my post yesterday about the potential for bottlenecking?
Having one way in and also one way out of the mine would be safer should unexpected events occur?
I’ll give it a shot. All based on current information – outlook hazy.
1. NTLOA will lapse
AUD 0.02 = NZD 0.0208 * 2,076,995,855
Mcap would have to get north of $43.2m to make conversion worthwhile - won't happen until phase 1 mining commences which isn't scheduled until 2018.
2. Amer will leave
Recent wording in announcements – maybe NTL is not going to just sell cheap control to them.
Still unsure what they are bringing to the table
3. TMP will be approved
Prior to May so it can be included in next Quarterly
4. Protests once bulk sampling commences.
As everything is legal and permitted work will continue.
5. PFS will be released
6. SP NZD 0.01 or higher by Christmas
PFS/Bulk sampling/Rahu – lots of irons in the fire.
Another capital raise is almost for certain unless Amer brings something to the table of benefit. I'm having my doubts anything will come of it.
NTL only have half the cash they need to get going (In reality probably well less than half)
But they should be good for this year and progress will be made which should have a positive influence on the share price....
I'll go for 0.8 by years end.
You are absolutely correct. Off hand statement of mine . And you right , mining is not my strong point . Thanks for the advice . One in ,one out would be wise choice of roading. I would be concerned about the amount of trucks over the bridge though , if that is a route . It currently is 2 lane .
Emailed the district council the other week asking what the delay in processing the TMP, wasn't really expecting anything but received a response today:
"Hello, your query has been passed to me for a reply. Council is awaiting information, from New Talisman Gold Mines LTD, which is required to allow this matter to be progressed."
Not sure how to take that, is the council being picky and making more requests to NTL, or are NTL taking their time with the application?
With the lack of detail provided by council, no way to be sure if NTL or the council is behind the overall delay. To be fair, the council probably don’t have to disclose anything further and if they did it could be material to the outcome.
They may be waiting on information from NTL – but could be a hypothetical case of
1. Standard request for A, B and C from council for TMP
2. A, B and C provided by NTL
3. Subsequent request for D from council
4. D provided by NTL
5. Subsequent request for E from council
6. E provided by NTL
etc.
Which means the council statement could be correct after step 1. (which would be NTL delay). Equally possible is they are at step .3., 5. etc. which wouldn’t really be NTL’s fault, but still technically correct that they are “awaiting formation, from New Talisman Gold Mines LTD…”
Alternatively, we don’t have much more information from NTL themselves in the last quarter announcement. So we are almost equally in the dark here. Though the wording in the last quarter around “a continuous review process” would seem to me to infer that we are currently in one of the hypothetical step 3. or .5 scenarios above.
All speculation, can’t wait to put this (accepted) TMP behind us.
^ This - It sounds remarkably similar what I posted up the other week :D
'Council inspector comes to your site to view progress, note down what you need to do, you pay to get necessary works done, resubmit to council, new council inspector comes to your site and finds a flaw with your earlier progress that previous inspector had no qualms with, you pay to get additional things sorted, lather, rinse, repeat. '
New Talisman Gold Mines focused on New Zealand gold mine in 2017
The immediate focus remains on the final road design.
Full article here
I find their lack of communication disturbing *Best Darth Vader impression*
This from the December Quarterly Report .....
"Having received approval in principle for the company’s proposals for managing traffic safety on the mine road, and having completed the preliminary roadway design, the focus remains on agreeing the final road design parameters with local council."
We're now a couple months on so surely it is close.
Why can't Mr HILL tell shareholders (owners of the company) the specifics of why the TMP has been held up?
Is it because the changes demanded by the council are going to eat up so much of the CR cash that he has to continue to negotiate rather than keep shareholders fully informed?
Tell shareholders what the council position is and what NTL position is... Simple
NZX Guidance Note on Continuous Disclosure from December 2014 states:
3.1 The material information test
The most important consideration in relation to continuous disclosure compliance is whether information is “material”, and is therefore required to be disclosed immediately.
“Material information” means information in relation to an issuer that:
- a reasonable person would expect, if it were generally available to the market, to have a
material effect on the price of the issuer’s quoted securities (A price movement of 10% or more in a quoted security will generally be treated by NZXR as evidence that information has had a material effect on the price of those quoted securities)
I believe the 12 month delay for the TMP and reasons for it constitute material information as if there are major issues the price would move more than 10%... Next step is there an exception
7 Exceptions to the Rules
There are a number of exceptions to the continuous disclosure rules, which are known as the “safe harbour” provisions. The “safe harbour” provisions permit material information to be withheld from immediate disclosure if certain criteria are met. Material information will not need to be released under rule 10.1.1 when:
- (i) a reasonable person would not expect the information to be disclosed; and
- (ii) the information is confidential and its confidentiality is maintained; and
- (iii) one or more of the following applies:
- (A) the release of information would be a breach of law; or
- (B) the information concerns an incomplete proposal or negotiation; or
- (C) the information comprises matters of supposition or is insufficiently definite to warrant disclosure or;
- (D) the information is generated for the internal management purposes of the Issuer; or
- (E) the information is a trade secret.
I believe NTL fails on point 1 as the delay is now of sufficient length that a reasonable person now expects disclosure as shown by recent posts.
On point 2 is the TMP with the Hauraki Council confidential and has it been maintained. NZ Resource consent applications are by default not confidential. Applicants can apply for all or some of the application to be made confidential so this need further investigation.
Point 3 is irrelevant until point 2 determined.
Conclusion
I believe NTL should release an update on the TMP as the information is "material" and NTL is not exempted as a reasonable person would expect the information to be disclosed due to the 12 month time delay.
Thoughts??
Email them and see if you get a repose. I've seen lots of speculation. ...but everyone has to do their own investigations. Apart from that no issue with the points raised 😊
Agree .... an update to shareholders on the TMP is well overdue.
I dont like the way .005 is becoming so common . Much more often in the last 2 months Attachment 8725
do these guys work on bonuses or wages.? If they have nothing to gain whats the hurry ? ( ie no hurry.....) skin in the game ?
Your not a shareholder stock rooster just a protester looking for info while downramping which is a breach of securities laws. Thankfully NZX look at these forums so hopefully they will touch base with you. SR why are you actually here if you have no shares ?
"Reasonable Person" is the subjective part here - which makes it difficult to say either way.
One could argue that the lack of extra and specific TMP news hasn't affected the SP over 12 months - so a reasonable person could infer that it isn't material. In addition the market has been updated several times in the past 6 months alone (31/01/2017, 14/12/2016, 31/10/2016, 14/09/2016) that the TMP is still ongoing. So I believe that a repetition of this type of statement would not affect the SP based on previous history. Am I a reasonable person? Who knows.
If there are specific issues with the negotiations but they are in no way related to NTL's provision of information, as per the example in previous pages, then again it could be argued that this process does not warrant an announcement.
If the TMP had been flat out denied, or had a material effect on NTL's funding, or something to that effect, a reasonable person may expect an announcement.
Without knowing what is going on, I don't believe we can state either way that an update is required by NTL. Though it would certainly ease some shareholders (including my own) concerns. However I wouldn't want an update simply stately that it is underway, or that there are issues - as pointed out earlier we have plenty of those. I would rather wait and have the announcement stating the TMP has been fully approved. Looking forward to that day.
Where do I find a list of NTL's top 20 shareholders ....... their website hasn't been updated ...... is it available anywhere else?
The companies office has a list of the larger shareholders (https://www.companiesoffice.govt.nz/.../shareholdings) unsure how often this gets updated though.
The value of NTL is in the van that leaves the site each day and takes the "goods" to be flown out of the country... to the owners
My holding on that list is up to date!! ... so presume the others on the list are correct ..... obviously the percentages are all wrong because the number of shares is incorrect.
Looks correct and up to date to me
https://www.companiesoffice.govt.nz/...3B79BE4F8769E6
The first list was only the top 13.
It's just the normal Companies Office site
https://www.companiesoffice.govt.nz/companies/
To get that shareholders list search for the company and go the Documents tab and you will find the Extensive Shareholders List i linked to
The Shareholders tab only gives the main shareholders
NTL obviously got Computershare to provide the info though
Flashback...
"MINE: NTL: Traffic Management Plan Approved
13th April 2016
FOR IMMEDIATE RELEASE
TRAFFIC MANAGEMENT PLAN APPROVED"
Wonder if they're any further with this a FULL YEAR later???
Someone is slowly accumulating, depth on 0.5 is constantly getting reloaded.
I think we are at the point where a concerted barrage of questions from frustrated shareholders needs to be directed to management. A year on from agreement in principle is unacceptable. If the District Council is to blame, let it be known, if not pull finger and be up front with your long suffering shareholders.
Is there support for this stance?
Benjamin Graham wrote “Ever since 1934 we have argued in our writings for a more intelligent and energetic attitude by stockholders toward their managements”
I sold out after I stopped believing in the story and the management. They used the uptick in interest around AMER and Rahu to raise a good amount of money and now the information flow has dried up. As soon as I believed they weren't going to keep their 6 month timeframe to extract ore my opinion changed.
The mistake I made was initially believing the bulk sampling was "fully consented". The 12 month delay in the TMP has shown that I was incorrect in my analysis. Luckily I exited with no damage done. Unfortunately I think at this point in time NTL is hamstrung as if they don't have access nothing else really matters.
The next quarterly is going to be very interesting!!
Jonu... I support your stance but I no longer hold so the Directors won't be too interested in my opinion haha
Have any of the new Directors purchased any shares??? That may be a big clue as to whether this project goes ahead
It'll all be right some day, he says optimistically for suffering shareholders.
As long as they can keep churning the investors, year after year, they'll stay solvent, the 'management' will earn their pay packet and the promises will keep coming.
For goodness sake, there are way way better Gold mines all over the world who are digging up the yellow stuff and selling it profitably, some are even paying dividends. Why bother with a wanna-be explorer in a clapped out mine with ambitions to be a producer when the facts are staring you in the face.
You could buy this on a confirmed 'discovery' (hopefully) at some later date and still enjoy a massive upside. There's no need to bugger around parking capital in this dog at .005 and below.
That's just gambling and it's not working out very well is it?
Monthly price chart, yes that's 17 years.
Attachment 8784
Footnote: The savvy traders who most will not want to acknowledge, scalped a WHOPPING % on the recent ramp from .00288 to .0148. If you don't know how to do that, you shouldn't be in this stock, imho.
Wait for it to be priced as a shell (did that) and then sell on the next big promise (missed that)... I'll leave it to the traders!!
Well we have heard from two non-holders.
I still have high hopes for the company. Remember CEO Mathew Hill bought up large in the last capital raising. You don't do that if all you intend to do is chew through it on wages! However progress, or lack of it, in 12 months is unacceptable.
What I am struggling with is the length of time it has taken to sign off the TMP when agreement in principle was reached a year ago. Forestry companies do these all the time with logging trucks on narrow shingle roads. If traffic lights operated by sensors on blind corners or narrow parts are required it would not appear to be a major issue.
Management need a rocket where the sun don't shine!
Jonu... Not much of a response from holders... Maybe the next quarterly will awake the passive beast.
Yes, we would appear to be a lethargic bunch! A rinse and repeat Quarterly won't wash (pun intended). As said earlier with agreement in principle on the TMP, how hard can it be to sign off? Coming up 12 months so you have to assume management haven't made it a priority. Maybe they are timing their run to coincide with finishing engineering on the re-opening of the mine. Either way, the lack of progress is unacceptable
Another holder here. The traffic management plan is something we have been waiting on for years. The agreement in principle was exciting because it had already been a long time. For it to have been another year is crazy and you have to wonder if something is seriously wrong.
They strongly implied they would be able to start the bulk sampling program within 6 months of the latest capital raising. The delays are extremely unfortunate given they have failed to deliver on that promise, and it was something that helped drive the capital raising to be so successful. This company has a lot of potential and I was happy to hold. That may change if it turns out they are messing around and just going to slowly bleed away the capital they raised.
They have never been amazing at keeping shareholders informed, so this current run doesn't surprise me, but it is disappointing. I continue to hold and try to remain optimistic but my patience and tolerance are both starting to waver.
Another holder (albeit small time) here. Been playing this stock for close to 10yrs, and the graphs other members have posted paint the story. Slowly diminishing, with burst of hope.
I am optimistic too, and feel a change could be just round the corner, but with the TMP, Amer, and so many other promises, you have to wonder.
I picked up another (very small) parcel last week, just hope $0.004 doesn't become a reality.
About a year ago I was walking the nature trails around the old mine and started a talk with another walker. He was very anti mining and said he knew that NTL was a long way off the TMP and had contact with some on the council that intended to keep it that way. So now I am wondering just what is the problem with the the TMP. If some on the council are using the council to block assess then NTL must accept this head on and take up the fight. Maybe bring in the govt and take it out of the councils hands. Now I do not know what the problem is but I do know it has gone on long enough and we holder need to be told the true problem from NTL.
I wondered if it was anti miners in the council. Just get everything in writing and when hit a wall, ask what the options are. And if you dont like those options, ask for some more options. Just got to play these games unfortunately.
Here is a copy of message sent to Mathew Hill via the NTL website.
"Mathew I hold approx ....... NTL shares on the NZX. It is with a growing sense of frustration that I observe no visible progress in getting the TMP signed off. The last Quarterly Activities report was essentially a reprint of the one previous in this regard. Another repeat will not be acceptable.
If there is a problem with the District Council we should be informed. If there is some other obstacle, likewise. With no information other than "We are working on it" forthcoming, questions begin to arise as to the quality of that work.
I am hesitant to be critical as I am sure we both want good things for the company, but the vacuum of information/progress is growing tiresome.
Regards"
Will let you know of Mathew's reply
I look forward to the quarterly Jonu...
I predict Hauraki DC are going to demand road widening, upgrading of the bridge, new turning bays on SH2, parking, new traffic control signs as a minimum. I base this only on my limited knowledge of large residential subdivision developments. Below are some outtakes regarding roading from the Hauraki District Plan:
OBJECTIVE 2
To ensure that subdividers and developers pay a fair and reasonable share of the costs of upgrading or providing new infrastructure to meet demands generated by the development.
7.10.5 RULES
(4) ROADS
(a) New Roads and Streets in all Zones
The total cost of developing new roads and streets (including unformed legal roads and streets) required to service a development or subdivision shall be met entirely as a cost to the developer.
[IMG]file:///page4image22984[/IMG] [IMG]file:///page4image23144[/IMG][IMG]file:///page5image1136[/IMG]
(b) Upgrading and Extensions to Existing Roads
Where any development or subdivision in the Rural, Coastal and Karangahake Gorge Zones will cause the need to upgrade and/or extend an existing road (or part thereof), the Financial Contribution shall be calculated as the cost of upgrading and/or extending the road to the level set out under Performance Standard 8.4.9, that is directly attributable to the development or subdivision.
Any cash contribution will be determined based on the following formula:
Estimated Cost of x Additional AADT
Roading Upgrading Existing AADT plus Additional AADT
Where AADT is the estimated annual average daily traffic for the section of road concerned. Each additional lot is deemed to generate 10 vehicle movements per day.
(c) Where any development or subdivision in a Structure Plan area will cause the need to upgrade and/or extend an existing road (or part thereof), the total costs shall be met entirely as a cost to the developer.
(d) Where any development or subdivision in the Residential or Low Density Residential Zone will cause the need to upgrade and/or extend an existing road (or part thereof) to the urban standard (road width, kerb and channel, footpath, street lights) the financial contribution shall be calculated as the cost of upgrading and/or extending the road to the level set out under performance standard 8.4.9.
From council report 2014:
Traffic Management
A commitment was given to working with the local community on the development of the trafficmanagement plan.
Key concerns which will be addressed are:
Safety of walkers/cyclists on the narrow road
Road insufficient width for passing
Heavy Traffic movements
Structural strength of, and wear and tear on, the Crown Hill Road Bridge.
Our District Engineer is following up on this issue in conjunction the Mayor and a group ofKarangahake residents.
http://www.hauraki-dc.govt.nz/assets...1_Talisman.pdf
Full report.. hopefully link works