NTL seem to have gone all retro on us - silent movie anyone?
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NTL seem to have gone all retro on us - silent movie anyone?
There should be something soon.
Timing of course is important. If tonight we see the price of gold do its pirouette and head north again then a positive NTL announcement sometime this month could boost its perceived value and price quite nicely.
Discl: holding...still.
I've just reread the last announcement of 23rd Jan. and we are well overdue an update imho. Various site visits by execs and technical people were due in Feb. The 90 days extension by my reading expired in Mid-March, going by the statement that said the 90 days related to the HOA dated 12 December. Perhaps management are hard at work finalising something, or if negotiations are ongoing it is dragging it out, either way we should be informed.:mad ;:
Dear Nick,
Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal.
NTL Management
Wouldnt have thought so - you are hardly conservative. :)
Good luck with sending a goldmine through the mail, Moosie . Postage will be horrendous.
Hi guys I am someone who is both a Kiwi and someone of Chinese background I can give my perspective. I just came back from 3 weeks in China to visit in-laws and other family members.
My father in law is a pretty well off businessman involved in steel&construction.
From what I witnessed Chinese actually do business similar to Westerners in a lot of ways but IMO what makes China different from western practices of doing business are the laws and structure of government.
No probs,
Similarities:
- Companies in both countries do the work first and then chase creditors for payment (Mainzeal anyone?)
- Business meetings take place during breakfast&lunch (Expense claims)
- You scratch my back & I'll yours applies both here and there
- Getting on the p*ss during business talks
- Cash jobs
Differences:
- Personal relationship with the person you're doing business with has to be established first before any talk of business can take place (Cannot just talk business and only business, you have to get to know other business person at a personal level)
- Getting on the p*ss in China is mandatory during business talks. Even if you don't want to drink, if you don't drink then you insult the other party and pretty much don't get to do business later on
- People fight to be the one who pays the bill during breakfast/lunch (Happens quite frequently here during Yumcha)
- Less employment disputes in China (Work or starve in China, unlike NZ where a toxic employee can still claim for unjustified dismissal blah blah)
- Status is everything (Even if you're rich enough to live comfortably, if you don't drive a BMW/Merc/Bentley etc then you're considered to not to be someone worth doing business with)
There are only but a mere fraction of things I know of, and above only really applies for medium-larger companies as far as I know.
And were done - St Albans OUT, bank loans IN
GENERAL: NTL: Chinese Investor Update
4th April 2014
FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
Chinese investment update
New Talisman Gold Mines announced today that it has been unable to reach a
satisfactory commercial agreement with St Albans.
A Heads of Agreement (HoA) was signed by NTL in December 2013 with St Albans
who were unable to commence on-site due diligence within the timeframe set
out in the HoA. Despite the lapsed HoA both parties had continued discussions
in good faith. Ultimately the NTL directors have decided that these
discussions did not reflect the offer of direct investment into NTL on the
basis set out in the HoA and have declined to proceed.
NTL has subsequently received a letter of intent from the Langfang Group
proposing an earn-in arrangement whereby Langfang would provide at its cost,
technical, engineering and specialist ore extraction and treatment services
in exchange for a percentage of the project. NTL considered that this
proposal in the form provided was not acceptable.
NTL is currently at an advanced stage of negotiating an alternative financing
arrangement for the Talisman project and expects to be in a position to
update shareholders in the coming weeks.
Executive Director Matthew Hill said, "With alternative financing options
open to NTL the board felt that the options presented during negotiations
were not in the best interests of New Talisman shareholders. We have made
excellent progress towards reopening the Talisman Mine and we are still on
track to enter and upgrade access in preparation for gold production."
Nick will be happy to finally have his answers.
Props to NTL Management for keeping it real. If they weren't going to stick to the principles of the HoA then they can shove right off of NTL.
NTL is a gem. Easy access, high grade gold and in a stable political system with the rule of law.
This is certainly very interesting news. If the announcement was the deal was dead on its own I would have been a bit worried about where to now, but given they are saying they are well advanced on financing its fantastic news. One would assume no horrendous splitting of profits and confirmation expected in a matter of weeks.
Discl:Still holding tight
I agree it's a positive announcement given NTL Management have confirmed they are not willing to sell out to the first financier that comes along with what turns out to be an empty promise.
Even a bit of media coverage.