I'm still watching them, and I certainly won't be back in before extraction. Possibly also needs a consolidation. Would rather pay more if/when this takes off than wait for the next cr.
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I'm still watching them, and I certainly won't be back in before extraction. Possibly also needs a consolidation. Would rather pay more if/when this takes off than wait for the next cr.
The sampling and bulk sampling is to create slurry which is then tested for AU/AG content. There is no evidence at this stage that any of it has been processed into saleable gold, or silver, so there is no revenue let alone profit.
Your enthusiasm that now is the time when it all turns out peachy is infectious but 20+ years, is a long time between drinks.
Au contraire Baa Baa. They have processed small amounts in trialling, and the whole point of the Terra Firma deal is to have someone dig it out and process it. That's how close revenue is. They may upscale the trial plant while waiting for the bigger plant or just wait for it. Either way revenue isn't far away.
I've been on board for 9 years and it's just hard to get excited. The Terra Firma partnership will likely cease before anything meaningful happens like every other NTL news event.
The 'revenue just around the corner' rhetoric has been the only constant about this company. The reality is that there will be another CR before we see any revenue. Then there will be another CR before we see revenue. The cycle continues.
Meanwhile is it true that the guy at the top is on $400k a year? That's more than $7,500 per week! What's the motive to want to change that?!
Because he can. If he got paid what I get paid and put the rest in to digging. They might actually have some gold now. There will be another capital raise, with a little bit of excitement first, and then pay the Directors fees again, wash rinse repeat wash rinse repeat
400k Would be very cheep for a producing mine, as for a non producing mine I'm not sure.
Volume is up, SP is trying it's best to hold at .008 from dips to .006 not a bad report out and all the doomers and gloomers are out in force.
10yrs ago it can't have had any chance of producing and if I brought in then I'd probably feel duped to.
5yrs ago still couldn't see how it would have produced gold.
2yrs ago you could see/read that it was still a way off but they where trying and had a pretty lose plan.
since there has been some real progress physical things happening, assets acquired and up and running.
Every step is a step in the right direction and it's getting closer.
Will we see gold this year? 50/50, next year IMHO pretty good chance of that.
Will there be another CR quite possibility but lets cross that bridge when it comes. progress is the key and 9 times out of 10 the last 10% of a project is the hardest.
I believe If they wanted they could have produced a bar of gold in the last 6months but that wouldn't mean much.
what the are doing it piecing together a complicated project with a long term view of making it sustainable and hopefully making us a lot of money along the way.
Been in 3 years and agree with your sentiments. Willing to wait another couple of years to recover my investment and hopefully profit.
I agree with LTW
It is slow, but is making progress. Trading off speed to get the maximum recovery rate is good long term business
Agreed. However once they are generating revenue I think they should live within their means. If they are able to keep mining on vein they should be able to be self funding. As said earlier I'm not keen on further cap raises. It's well beyond time to be rewarding holders with cash not"cheap shares".
I totally exited NTL.
But a chance encounter in Thames with someone who knows a worker at NTL has brought me back in.
Nothing stellar to report, but it appears on the surface anyway, that progress at the mine is real, and they are not going to go under, which was my fear in getting out.
I still don't like Matt Hill and his ridiculous 400k salary or fully trust him, but I can see only one way for the SP price to go this year, as milestones are achieved.
I can't help but feel that they've wasted the best political opportunity these past 2 years. With an election in September there's a real possibility of no NZ First and the new government being Labour + Greens only meaning it might be considerably harder to progress the mine!
What a waste....
Good to hear Bluemanarc.
I have spoken to Matt in the past and there is an open offer for share holders to go and visit the mine and see for themselves the progress and gain a better understanding of what's going on.
Later in the year I plan to take up this offer and go have a good look around while the place is humming.