Did anyone figure out what happened with the ASX at the end of last week?
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Why?
My guess is that when the noise of the election goes away (though if Labour do get up, then it could be a while before dust settles), AND the noise of the stuff up in the SPP go away, there may be a gradual climb. However, in the short term, it could be a bumpy ride. Wont help if the "newbies" have been scared away as well, supply demand curves and all.
As much as I want to support NTL this round, my faith in Boards decision making and communication has been rattled. Im going to sit on sidelines, and look to re-enter later.
With the SPP there is a potential of a large supply of shares which caps the share price. Few will be taken up. After the SPP NTL will return to their original plan and start bulk sampling in the new year so there will be renewed interest in the share. I do not see that the share price will drop after the SPP. The big danger is that when they do start bulk sampling they do not recover enough gold to meet investors expectations.
I agree that few shares will be taken up in the SPP ....... was badly timed ........ expect to see a rise in the SP later this week and next week
Have had a personal meeting with Matt Hill at Paeroa today. This meeting came about as H Brown NTL biggest holder and myself wanted some questions answered about the sudden [out of the blue] SPP. The questions have been answered to my satisfaction. I understand that Matt Hill will be answering these same questions at the AGM. I will not be at the AGM as I have had a recent knee operation and my general dislike of Auckland traffic.
I will be taking up the SPP and supporting the company in all its resolutions.
I encourage all holders to vote for the current company actions, and support the SPP. I can not guarantee it but I think you will not be disappointed. We need the gold concentrator. It just solves so many problems.
Hey digger thanks for posting regarding your meeting the MH.
You're saying youre taking up the spp, why? Can you back this up with any info you gained from your meeting?
I don't want to sound rude but you just saying I encourage people to take up the spp sounds like ramping. Why wouldn't I just get the .019c market rate now? I know taking up the spp means the company gets the money, but from what I've seen over the last week there's nothing making want to do this.
Is there anything you, or even MH, can say to convince people to take up the spp? Its very short time now and I'm on the fence with this one.
Thanks for posting that Digger. I will go to the AGM and decided then whether or not to invest the extra 15K.
I fear that the take up will be very low as the share price is telling the story.
Obviously it is best for the future of the company for investors to take up the SPP rather than buy on market but I would be surprised if a significant number of investors would see it that way.
I hope I am wrong
I was trying to buy another $25,000 of shares today.
But cant put my buy order in to ASB Sharetrader, is that due to the AGM tomorrow ?
I have to admit to sitting on the fence on this SPP as well. I bought in at the top (2.8) so I'm already in the red and I dont even know if I want to throw an extra thousand at it, but it definitely wont be $15k. Having said that, naturally I want them to suceed as it's good for all of us!
Fence sitter here too, digger, your thoughts after the meeting and why you encouraged us to take up the spp.
Matt Hill was as you can imagine was careful on how he answered some questions,so my points here are as I read them between the lines. I get the clear feeling that there was some AUS offers for placement but as Matt said several times it would not go down too well if Current shareholders were not first offered these shares under the SPP as is now in offering.If there is any doubt on that impression then ask at the AGM. I have taken mine up in full and you can take it from there. Just do not sulk afterwards if the SP next year is much higher when the bulk sampling is in full swing. We all have to do our own research so take my word with little regard compared to yours.
We spent some time talking about the concentrator mainly because I wanted to.They are looking at three including a cheap out from China. we all agreed that the one from Germany would be better as it will work for more than three days in a row without falling apart.
Also some discussion about the elections some of which I can not post here. Matt is much less concerned about a Green govt with Labor in toe as I am. Agrees that we should sue the Govt for considerable costs if the Greens shut down the mine.Currently labor says what ever is in place will stay that way and only new projects on conservation land will be refused. if you have any reservations about the SPP I would say it should be here. Ask Matt at the AGM
I would also like you to ask at the AGM what happens if we do not get a full mining licence.
My points here are that for several reasons I will not be at the AGM and as I am a large holder Matt decide to talk with me,as I am near the mine and have a family history of mining and mining goings on.
Go to the meeting if possible
Cheers all