Ugh. I hate this stock.
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Ugh. I hate this stock.
My take from reading this report is that there'll be no gold mined for the foreseeable future. Glad I now made the correct decision and exited this stock last week.
As I said in #4690, the half year report simply repeats the content of the first two quarterlies, which are already published. There's not much new in the half year report as a result. I noticed confirmation that terra firma is the party interested in contract mining, which I think wasn't mentioned before. And some firmer timings around the resource consent for full mining and processing.
Things might not be happeneing as fast as we'd like but
A wise, major project manager once said to me:
9 times out of ten when it comes to Budget, Schedule and Quality you can have any 2 and only 2.
Over the years I have worked on a number of large projects upwards of half a billon dollars and this generally runs true
So if we take this principle and put it to NTL I think it runs true.
Through photos posted on the various forums and info out there the work done dose look to a good quality
We all know there is always budget restraints, on a project like this with a shoe string budget it is important you stick to your budgets.
So this then leaves the schedule very open ended with our company only in control of limited things that they are trying to get over the line right now.
The Pilot plant
Phase 1 of the test work has been successfully completed. This has been done in a structured way and Gold and precious metals recovery rates achieved. We now have a line in the sand, something to work from.
To blindly start processing would be a complete waste of time and resources. The key objective of the Pilot plant is to test, tune and retest so we know what we have, how best to get it and what quantity’s we have. Now design of a bigger plant or using someone else’s can procced.
IMHO Producing concentrate is not an issue the delays are in the testing and having access to the equipment to separate gold silver etc. yes they probably could have poured a nice shiny bar of gold by now but what has that achieved?
There are many things to consider and from what I see and read the approach they are taking is the long term one.
Phase 2 of the metallurgical test work which aims to gather data on the plant outputs sufficient to meet council requirements for a resource consent for a larger volume plant, has commenced. The sampling from processing small quantities of various ore grades will ensure sufficient sample size for ore treatment data to be collected and included as part of final plant application. The whole resource consent process is painful and something that requires care and attention to detail, stuff this up and its over before it begins.
IMO once all the testing is completed things should start moving ahead quite quickly – Resource consent, full scale plant or offloading ore / concentrate to others for processing. The mine is not stagnant and things are happening exciting times ahead it just may not be as fast as you hopped.
I believe mid next year after the bonus shares are issued we’ll see the share price dip then start to come good as the ducks start aligning – POG, Resource consent, Test work completed, solid plan to production other possible commercial agreements.
Ugh. It's odd that I have to read this explanation from a fellow investor as opposed to it coming from management though...
Which though wonderfully explained still may or may not be true...
Do you not mean a former investor?
I do not know when you initially bought into this stock,but I do remember when Suze bought in admittedly the SP was a lot higher then,but the stock was still a punt,or a gamble if you like.Management have not changed they are still incompetent when it comes to keeping shareholders informed.Just by reading the past posts here should have enlightened you guys to these continuing problems.
I must admit I would still love to see a business plan,and if nothing turns up before the next ASM I shall turn up and ask some very pertinent questions.
It’s a stock that drove me mad for a while.
Then I read most of the announcements and thought about what I know from projects ive worked on both good and bad.
From there things started making a lot more sense. Well I hope so anyway.
I’m with you Steveb, I’d love to see a business plan as that lays out the plan and how you are going to achieve it this is certainly missing at present.
Someone giving away Christmas presents at $0.006 = then again, they may know something :-)
Merry Xmas all, hope that 2020 is NTL's year
Maybe just impatient...
A lot of movement today at .007 someone know something we don't.
Another million traded in the last half hour! typical I off load a few and it starts to get exciting