Now now you two Lion is looking at NZ$ and haewai is looking at US$,seeing as we live in NZ I declare Lion the winner
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Now now you two Lion is looking at NZ$ and haewai is looking at US$,seeing as we live in NZ I declare Lion the winner
Yes, thanks, but it's not an argument here. Haewai is quite correct, in $US, which gold is usually quoted in. Doesn't the exchange rate make a big difference? We all want NTL to do well, don't we?
However, I would like to give my opinion on the price of gold - surely it has some effect on the share price?? Taken to its illogical extreme (reductio ad absurdum, to use the Latin phrase) - if the price of gold was zero, then the NTL share price would be zero too, wouldn't it?
It's encouraging to see all sales in NZ today at 0.7c
Gold mines SP usually work on:
1. Probable reserves - i.e. they have some idea of the quantum gold, the POG won't have any effect on SP
2. Proven reserves - i.e. they know they have a quantum of gold and just have to mine it and process it, the POG may have an effect on the SP
3. Mined gold - i.e. they're mining real gold, POG does affect the SP.
4. Sales - i.e. they're selling what they've mined, POG definitely affects the SP, up or down.
It's worth considering as well which market they sell (eventually) into, i.e. NZD, AUD or USD, which obviously affects revenue.
NTL have only probable reserves at this stage as far as I can tell. Best that they continue their testing and assays but most of all start mining gold and selling it. Then and only then will the SP re-rate.
Meantime they will continue to mine the shareholders, which they're very good at.
1 Mil order in AUS at .7 cents
SPP closing extended for a month, not a good sign imo.
If there is some good news between now and then it might tempt me to partake. I had decided not to previously - just because I have other stocks with a higher priority to aquire at the moment.
The reasons given for the extension are not related to anything the above posters are talking about.
Funny thing is, NTL used the same excuse in a rights issue almost exactly three years ago:
The Board of New Talisman Gold Mines Limited (NTL) has decided, due to delays in offer documents reaching Australian shareholders in some parts of the country, to extend the closing date for the acceptance of applications for the 3 for 1 pro-rata renounceable Rights Issue
That rights issue, at $0.005 raised $4.79M - or about 1/3 of the goal.
I don’t believe any of the posters above (maybe one can be taken that way) were talking about the reasons for the extension. The discussion was more a reaction to the news.
I am guessing history will likely repeat in the uptake response in the event of no breaking good news. Had they achieved their target already it is unlikely a few remote Australian investors would have caused a one month delay says the cynic in me.
You can put a positive spin on the delay,by simply telling yourself that they are not desperate for money or perhaps they have sold some gold.