[QUOTE=nextbigthing;766700]$415k PA apparently.
I think that his package was reduced in the cost savings programme .
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[QUOTE=nextbigthing;766700]$415k PA apparently.
I think that his package was reduced in the cost savings programme .
101 buyers and around 14 sellers according to the board I look at, funny to see so many buyers.
I guess people can now acquire a small chunk in a gold mine, where as I wanted a big chunk in a NZ Gold Mine :):t_up:
Pilot plant works small amounts of gold being produced it will be interesting to see how concentrated the gold is etc
Well done mathew
While some people question the small volume, remember this is material from the vein face set aside and it should be very high recovery.
Also questioned is the 16m over 2 years, 8000 ounces, that this is not significant.
It is massive amount of funds for the development of this mine to larger scale operation, we are on the move gentlemen :)
"New Talisman Gold Mines Limited (the Company) intends to seek applications to subscribe for the shortfall under its recent share purchase plan offer of new quoted shares (the Offer)."
Dose this mean the because I didn't take up my fill 15k offering I can increase my organial offer?
Matt Hill should write a book about how kill the SP in one easy step.
This reminds me of the German inflation pre the 2nd world war or Zimbabwe's 100 trillion banknote,(probably a collectors item now)
Unfortunately crazy stuff again from Matt Hill on managing investor and employee confidence. I feel for the investors who in good faith after receiving the outstanding news on the Pilot Plant and have just paid 0.9c a share to see it once again flattened within hours. Can we believe the end of August closing date for this one? Is their any limit on the quantity of shares that one can now invest? Some good questions for the AGM.
Well they could buy on the market - like anyone else. There is a responsibility to minimize dilution, especially seeing that they are fully funded to complete their next phase and get the mine generating cashflow. There is also a reason why shareholders have a capped allocation, and if he did see interest from shareholders wanting more than their allocation - why is the SPP open to all investors? Why do they even need more money when they exceeded their 1.5m required. If this shortfall falls short it will put more of a damper on the growing optimism we've seen the last few days than it already has.
This is a classic case of " When the ducks are quacking, FEED THEM " !!!!!! *** !
All the points that you make Ace are good. I was surprised that there was a shortfall offer considering there was no shortfall. From my point of view the more money the company raises the better. I am not concerned about the dilution of my holding I can correct that easily.if (a big if) someone wants to buy 100M shares they may take the shortfall offer up and raise some money for the company. It’s any body’s guess how much that would cost to buy on market.
A bit of a 'good news - oh, sorry, bad news' day for the SP today.
ComputerShare are showing my new SPP shares. My new average price is 1.03c now, and if I 'count my chickens before they are hatched' (i.e. bonus shares in a year, which I guess I have already paid for) the average would be 0.95c. Not too far away from current SP.
Ace - you say "Well they could buy on the market - like anyone else." But that wouldn't bring in new cash to the company, would it?
But I share the general disappointment about the new shares on offer. I fully agree with your next sentence, Ace - 'There is a responsibility to minimize dilution, especially seeing that they are fully funded to complete their next phase and get the mine generating cashflow.'
And Ltw - didn't I read that this extended offer is only open to 'sophisicated & professional investors', or something similar? Counts me out!
Well I for one put in the 15K and my reward is to see the SP trampled on,my holdings diluted,and my confidence in management doing the right thing for shareholders gone.
I can't see any way I can add more through this new SPP I am no pro and sophisticated certainly not seems only sophisticated investors did not support the last SPP,and yes I am calling it a new SPP there was no shortfall.
And I know ACE has covered all these points recently (thanks) But I am allowed a rant occasionally!
The sophisticated investor bit only applies to Aussie residents. Any man or women and his/her dog can apply if you are a NZ resident.
Yeah, quite right, Brain. I had only skimmed the announcement. So Ltw, you are free to buy as many as you wish (in multiples of $1k)
I have an uneasy feeling about this. It's open to anybody and with no upper limit on quantity.
But why, oh why do this? It's a bit like turning the anti-virus off on your computer. You open yourself up to the big wide wicked world out there. Am I being paranoid? Well, maybe, but why take the risk? There are many people/companies in this big wicked world with deep pockets who might think it's a bit of fun to buy a controlling stake in NTL. It wouldn't hurt to put a cap on the amount spent, surely.
P.S. I wonder if M H and the board have considered the possibility of a hostile controlling interest? Good heavens! They might even want to appoint a new CEO!!
I for one are pretty gutted about this. I had read a lot of the earlier post and nearly flagged it all together but regained confidence so went ahead and got a few. Following this I could see a great potential for a good lift and brought more after the SPP at .008 and after the earlier announcement I thought here we go. Then bang I was hit in the face with a smelly rotten fish... lots of things have gone through my mind and the only thing I can think of is that the pilot plant has done very well and they now want as much capital as possible so they can order the real deal processing plant as soon as possible and get it humming. If not this Management team needs a swift kick in the you know what!!
I think there is and logically must be an upper limit to the capital you can raise from an SPP. 15% more shares springs to mind but hopefully a more learned poster will clarify this. I have faith that the management will do the right thing. If I didn’t then I wouldn’t touch these shares with a 40 foot barge pole. A good rule in investment is to never swim with sharks.
More money means more rapid development.
Progress is being made.
If the 15% figure is correct and they have already issued 150M shares then they are about half way there.
I really want this company to be successful in NZ but after following it for for two years I just can’t see how the management command such lucrative salaries in the face of minor results. I would love to invest in this but unfortunately can’t at the moment.
Lets admit the Management do some very selfish and often immature and even stupid things but, unless it's all lies about the gold, where can they go, other than being very soon in the real stuff and returning handsomely to the long suffering s.holders???????
Maybe it's time for a fresh pair of eyes at the top.Matt Hill has done his bit,it's pretty clear his management skills are not up to the job.
It will take a completley different skill set,to run a mine especially in NZ and especially under labour and the greens,it's time for Matt to step down and enjoy the fruits of his labour.
Why would people be buying at $0.008 on market when they could buy in shortfall at discount?
Normally a 'shortfall' is when there is a lower than available take up of shares offered. In this case it seems NTL is loosely using shortfall as a shortage of shares being offered compared with that applied for. It's unfortunate some investors may interpret 'shortfall' as a sign of weakness in the company when in fact it it the opposite. If the 15% maximum take up now is real then i'm more comfortable current shareholders are are not to be heavily diluted but does anyone know this is a fact?
How many billion's of shares are there now? how many cap raises have there been? How many name changes over how many years? Worth thinking about and joining a few dots.
Hi Everyone,
I'm Bucko, and I suffer from gold fever.
It's an addiction I'm not proud of but I've taken the first step and admitted I have a problem.
"The company currently has 343,553,188 shares listed on the NZSX."
Think the NZX website might be a bit out of date now..
I think the CR warrants a nice trip to Monaco for a holiday for the management team.
Im still holding, but didnt participate.
That 8000oz forecast is mentioned a lot in recent NTL documentation. That requires processing 360t ore very month. Which the pilot plant can't do. Other parts of the papers mention only 'contributory funding' from the pilot plant, plus use of funds raised for more digging and paperwork and project studies, So self sustaining revenue seems either really close (actual @8000oz production and sales) or at least another year or two away. It's a bit unclear. Unless (1) third part processing, or (2) 8000oz means bulk sampling and stockpiling and inferred au, not 'processing'.
Any thoughts?
In answer to the question about people buying at 0.8 it might be because the Minimum purchase is 1000$ so these might be small purchase by way of sharesies. I would sell my holding at 0.8 if I could and even 0.7 is tempting.
Yes that’s the risk. I equivocate on the .007 but at .008 it is more than tempting.
Matt Hill needs to tell us at what point he will be giving us our money back. Probably there is no risk of this happening but then again there is always a chance that someone wants to buy a significant stake.
These were the first shares I ever purchased back in 2013 i think. Hurts me to say it as I used to be really passionate about this company but the whole thing just seems more like some sort of project to mine bank accounts after seeing the same old cycle time after time, year after year.
News announcement > cap raise > news announcement > cap raise > news announcement > cap raise.
And the price rise after the cap raise, where you can trade and buy lower.....or run.
Have to say i'll be out at the first whiff of an uptick in price and will take a loss. I got sucked in by hype and did NOT do any research at all so I have no one to blame but myself. I have been sucked in by both gold and diamonds now, I hang my head in shame.
Just a reminder, Last day today for Full and Final SPP ( until the next one --NOT ) , imo once this is bedded down and out of the way we should be off to the races:
Permits are issued and in order.
Gold is there and ready to mine.
Crew is there and ready to start ( restart ) .
Money is committed and banked.
What else do we need in order for this to be a fantastic success ?
Hi Whatsup
Isn’t the cutoff 30th of August for Shortfall offer?
NTL hasn't traded on the ASX at all yesterday, nor today (so far) (- No, none all day).
Quite a few went through y/day on the NZX - 7m was it?
Then today, 5.7m traded, but 5m of that was in the first 8 seconds of trading, and then 657,222 at 11:09, then no more at all. (I got this data from Stockness Monster https://stocknessmonster.com/quotes/ntl.nzx/)
Does this mean anything? Well, I'll speculate, even though the situation is not very rational just now (nor usually, I suppose)
The Aussies mostly can't participate in this extended SPP (someone called it a new SPP) so aren't interested in selling at 0.7 or 0.8c to buy more. Hence no trading there.
In NZ, there was rush of sellers y/day and early this morning who either want to buy more in the SPP or who are disillusioned and just want out altogether. But now it seems the frantic trading has stopped.
As I've said before here, I'm an optimist, and I hope that panicking or desperate sellers have now dried up.
OK, I'll stick my neck out with more speculation - that there will be quite a standoff with not much trading until the end of August, when the price will increase, especially if there's some lovely shiny gold to show.
P.S. This much, at least, is rational, that the SP won't rise above 0.7 till September, while anyone can buy at 0.6875c
But what if they show us a shiny lump of gold and people flock to the SPP?? If the 15% limit is correct, then applications will have to be scaled back, won't they?
Honest question from what might be a rhetorical question.
What actually is the current state of play with this company?
They appear to have a pilot plant to test an experimental way of purifying ore before it can be further processed. Do the Resourse Consents and permits just cover this pilot plant or does it cover a full scale plant as well? I see they are hoping to produce a small amount of bullion if the pilot plant is successful but I can't see anywhere where they state the expected revenue from this? Will it make money or is it just a test process? Who is extracting the gold from the purified ore? How much does this cost? How much money is required to build the full scale plant? When are they expecting to start building the full scale plant and are they expecting another share placement at this time to cover the costs of doing so? How long will it take to build a full scale plant assuming the experimental plant is successful?
about Matt Hill:
I don't know a great deal about him, but he does have a pretty good record of directorships in many companies.
There's been a bit of critical comment about him recently on this thread. His $400k salary does seem high.
But I'd just like to say that he has considerable 'skin in the game'.
He's listed as number 4 in the top 20 shareholders of NTL with about 42 million shares, or 2.03% of all shares.
Then there's HILL FAMILY GROUP PTY LIMITED at number 10 with 28,096,507 shares or 1.35%
I'm not sure if this is Matthew's family or not.
But either way, I'd say Matthew's interests are pretty well aligned with the rest of us 'ordinary' shareholders.
@Lion,
In terms of his "skin in the game"...
What % of his shares have been purchased "on market"?
It does leave a sour taste in your mouth considering the collection plate is out every year.
Is it 18 or 19 years now that this has been going on? If you like gold, there's heaps of producing mines making profits and paying dividends that you can invest in, especially as the POG goes up. If you prefer explorers, there are many better options than NTL who have proven their exploration skills. If you want a lotto ticket in a NZ explorer that has a history of funding its insider lifestyles, NTL is the only choice.
BING, sorry, not a winning lotto ticket. How many times have you heard that? What does it take to convince that NTL is no more than a wild stab in the dark that you'll ever get your money back, while being diluted into oblivion, let alone winning the lottery? If it's not, why put your money in now and suffer opportunity cost when you can get in later on proven resources and ability to get it processed, sold and profitability?
I'd rather have nothing to do with NTL until it was producing gold profitably, then I would pay 10x the current price to get on board and ride the sentiment, rather than park my capital in a terminally underperforming and underfunded explorer waiting for the possibility that one day, just one day, it paid off.
This is gambling, it is not investing. Look inside yourselves, ask the question "am I investing in a asset that will return to me a decent income or more than my capital invested, or am I taking a wild punt on something that has serially underperformed for decades" ... then ask, "why am I doing this now, why am I committing good money to a punt when I could be making a 10 bagger elsewhere", or buying an earner that eventually pays back my entire investment capital just on dividends returned.
Honestly, NTL is an absolute dog investment. If it ever makes money people like me will be all over it like a rash and we'll be the ones making the money, not those who stumped up the lifestyle expenses of the insiders, got diluted into oblivion and who sadly eventually lost the faith and sold out at a loss, disillusioned and despondent.
Sorry folks, I don't mean to be mean and burst your bubbles but there are a ton of better places to make money in gold stocks (and other stocks) and a lot of very smart investors who can wait patiently and move on an explorer that by some twist of good luck achieves the motherload profitably.
We don't need to park our money in a cash consuming shell that funds the lifestyles of the insiders in the hope it might one day come right.
Here's a lesson for you. One company (on the ASX) that I put a $1000 punt into, it was a lot like NTL with many years of disappointment but "great future prospects", and a few Billion shares on issue.
Well, when push came to shove they consolidated at 400:1 shares (think about that), shafted the company, relisted into their own shell as a new company and I was left with about $50 bucks invested and f'all shares. I still own them just as a reminder about how cunning these foxes are at preserving their lifestyle and their income.
If it's any consolation, that company still hasn't found the motherload or made any money. My shares are worthless but it is a lesson on what can happen to you when there's a few billon shares on issue (many years of dilution) and how clever the owners can be in preserving their income, by mining their shareholders.
NTL is a perfect setup for shafting their investors, whether or not they find any gold and start producing. Be warned, it's not about you getting wealthy, it's all about them.
I completely agree Baa that there are many more gold explorers with better prospects than NTL but you will have to go offshore to buy them. Even Oceana Gold Corp (a 500Koz producer) which has two major mines in NZ is listed in ASX and TSX but not on the NZX.
Having said that, I was fortunate enough to buy into NTL previously at 0.5c and sold out out at 3c. As a result I became familiar with NTL's prospects. Along the way I invested in a range of gold explorers and producers on the ASX and learned about gold companies. As a result, I decided that I had good timing with NTL but that as a gold prospect it was very limited. I have continued to be a successful investor on the ASX gold market but have no reason to change my opinion on NTL and have not re-invested at all.
I accept that NTL has gold and that it is high yielding. However, they are only allowed to mine a very small amount while their newer areas of exploration are unlikely to achieve all the mining/environmental permits so long as the Labour-Green coalition is in power. The extraction restriction imposed through the Hauraki District Council on the Talisman mine stymies NTL from any decent production.
The slow progress by NTL in the past couple of years can be explained by the limited extraction rate and hence gold output that can be achieved. Nevertheless, why invest in a snail when you could invest in a tyranosaurus rex on the ASX and take advantage of the recent increase in the gold price.
Hi Baa Baa
How is a share consolidation a bad thing? Doesn’t it just mean that the shares get divided and the price goes up by an equivalent multiplication?
I have no experience with a share consolidation..
Look I enjoy a good rant as much as the next guy, but does anyone have any facts and figures about this dog as it is currently?
Why am I interested?
A rising tide floats all ships, and even planks of rotten wood.
And investing too much in the ASX becomes a tax nightmare.
Just one more comment re MH salary and skin in the game. His 42,000,000 shares are worth $294,000 (at current share price) so this is reimbursed to him roughly every 9 months in salary (before tax)
I think every SH would be happy if Matt Hill cut his cash salary in half and received the remiander in shares - more skin in the game for him. $400k is a very good salary!!!
$400k in a company that doesn't even generate revenue let alone profit..
If he had ONLY been paying himself $200k p.a. the last few years we might not have need this cap raise
Trading patterns, continued:
Again, no trading on ASX.
Again, only early trading on NZX (2.73m, all at 1 second to 10 am)
I wonder what it means, if anything.
I'd guess it's a seller from overseas who lodges an order, during our night, their day, for all or most of the shares they can sell at 0.7c
Quarterly reports are out. They say gold will be on view at the AGM in September. :t_up:
Anyone catch the fineprint:
The company has received notification from the Department of Conservation that access to the Rahu permit area would unable to be granted due to Iwi treaty settlement discussions. The board is reviewing its options with regard to Rahu.
Yes, I sure noticed that, blackcap. Not good, is it? Rahu is an important part of future plans.
"Unable to be granted" sounds pretty definite, but then "Iwi treaty settlement discussions" sounds like there may be some negotiation possible.
Let's hope our $400k p.a. CEO can negotiate in the company's favour.
Looking forward to a happy September, when capital raising is (hopefully!) finished and there's real, shiny gold to be seen at the AGM.
Had noticed also, But my take is that they are unable to grant permit untill treaty settlement has taken place.
Yes also noted - not sure how much DD was done by NTL before buying into Rahu? The area has had rigs over it in the past and nothing was raised then. Do the iwi also own the gold beneath? I'm reconciling myself that current work beneath the mountain is the first priority and will provide the profits and time to see Rahu settled and become available again.
Does anyone know how much they paid for rahu?I have never seen aything in the financial statements,I'm wondering if it was one of those $1.00 deals!
Rahu was a confidential settlement. I asked the question some time ago presumably it is still confidential. Hidden in the accounts somewhere.
I found this in a 2015 activities report. Perhaps they have this under control.
Iwi consultation
Discussions were undertaken with a local official Iwi representative during the period. The official
advised NTL that the Iwi they represented were not opposed to mining per se but needed to be
kept abreast of our plans and work programme in order to clearly understand the impacts of any
mining which may be undertaken by the company. We will continue to work closely with local Iwi to
ensure they are aware of the work being carried out at the Talisman mine and plans for future
developments.
Its not rocket science they want their cut as usual, nothing new there, Rahu is many years into the future.
The current mine, getting gold from the high grade ore processing plant, gearing up for the full plant, and then turning attentions to "The Deeps" or whatever it is called, where we know there is mega gold.
Will be enough to keep us going for the next 20 years.
Rahu is 25 to 30 years away, anyone could be in government as Fred Winstone and Barney Jones Rubble will be dead and in jail convicted of fraud respectively, and Jacinda a blot on the political landscape crushed by Luxon 2023.
It would be great PR if Iwi and NTL came to an agreement by giving them first rights of refusal work tenders, or apprenticeships to help local iwi members with unemployment etc.
Mutually beneficial having Iwi on your side, slows down the PK-tards.
Previously when NTL got non-notified approval from HDC re: water quality impact there was a press release from NTL&HDC that stated that a iwi representative was informed, went to visit NTL/Karangahape area and the iwi representative then determined that there would be next to no environmental impact.
PK tried to challenge that legally to slow down progress but I suspect they withdrew it eventually because their claims would have been opposite of what was determined by Iwi/HDC.
gold atm US$1442 = NZ $ 2168 !!
I cannot understand why there is such strong buying @ .008 ATM when S Hers can buy into the SPP @ .006785 plus 1 loyalty share, are all of these purchasers new S Hers buying into the NTL story ?
With the 'Bonus' shares that are realized after 12months, as long as you are a current shareholder with any amount of shares, you will get the bonus shares? Or do you have to keep all shares purchased through the SPP to gain the bonus?
whatsup - as I understand it, this extended SPP is open to anyone.
So that makes it even more mystifying why anyone is paying 0.7c let alone 0.8
Counting free bonus shares in a year, the effective price of new shares under the SPP is only 0.573c
I wonder when we'll hear how much new money has come in under this extended SPP? Probably early September.
And I also wonder what will happen if the total new money from the SPP exceeds the 15% cap allowed as new shares. (If that is indeed the cap. No-one seems quite sure on that, but there must be some limit).
I'm impatient for September (end of SPP) and first gold.
P.S. Blue Horseshoe, I'm sure you are correct. That's a (small) positive sign, isn't it??
P.P.S. Price of gold still increasing, because of US/China trade tensions NZ$2,236.19
+24.96
+1.13%
The buying might be coming from overseas investers not eligible to participate in the SPP.
$400k is too much for Mr Hill with a board and administrative staff more numerous than people with gumboots on
And things are getting worse not better.
this has not been as glittering as I had hoped, it looked smooooth two years ago. i bought it because of big assays, consent, and NZ buffer.
Not enough going for it to not lose more money, and it looks more likely every day.
shares are so worthless I may keep them, to be proven wrong, ha ha
Remember, the board willfully, or ignorantly, destroyed the value of options we held, by doing another capital raising a while ago ( 2017) . They got less than the options would have raised, shares fell from near three cents to who knows. and all my options became worthless.
no one has explained why they did it. Maybe someone can?
Wasn't there around 75 people buying tiny amounts of shares, weird that all those buyers bought on same day, maybe they have a certain time to fullfill a purchase under the free system that they are using, and maybe they cant be bothered to fill in a form and send it off to buy $250 bucks of shares for the chance to be able to buy at that discounted price.
Maybe they don't know they can buy shares direct from company, if they didn't read all the company notices, or perhaps they feel that their chances of getting those shares is too low as its over subscribed.
Yep, really weird, but if the shareholders now have possibly up to 300 or 500 new shareholders who have tiny allocations of shares, when they see SP going up, that may trigger more higher value investment in the SP which could snowball.
The .008c purchase amounts are so small its probably just schools doing some project on the share market.
Minimum purchase for the SPP is 1000$
Gold at 6 year high $1465 U S or $2250 approx. per oz . great if they have that mini pilot plant working.
$23 + / oz Kiwi, where is our gold production when you need it .
Think the Gold Price will continue to incress for some time yet. We might even see it over $3000/oz by years end.
Better hope the pilot plant, which won't have finished test work until next month, meets the tests. If it doesn't then where will NTL be?
One thing that has always bothered me; I understand the need for an environmentally careful plant, but why does this one need to be so completely novel? While I know very little about mining, I'm surprised NTL couldn't just use something already used elsewhere that meets those environmental impact requirements and accordingly de-risk and speed up revenue collection. Perhaps there isn't such a thing. Just some thoughts that I'm better to direct to the company I expect.
Steady buying again today 5 mil @ .008 bought, once the clutter ( SPP ) is out of the way come 30 Aug this share will be rerated imo what with the POG above $1500 US = $2300 + Kiwi atm .
Yeah whatsup exactly my man, there is clearly insecurity around how many shares you can buy in the deal ending August, or these turkeys wouldn't be gobbling them down at the market.
Agree there seems to be this 15% max bandied around,they say this is part of the same SPP,it makes no sense to me that the company has not clarified this,and advised what % was sold in the 1st and 2nd part of this SPP and what is available in the 3rd part.
If we don't hear soon,I will drop them an email,as I could do with another couple of mill,but don't want to be scaled back
I cannot wait until the end of the month and with all of the SPP schanagions are out of the way so we can get back to a more orderly existence , with the POG well over $1500 /oz us we should be trading at a much higher price than we are now considering there should nothing to hold us at these levels.
I'm still waiting to see an SPH notice for Mr Hill or any of the other directors to show that they participated in the SPP. Mmmmn
No.
From the last quarterly:
- Work continues on the resource consent application for full mining. It is expected that this application will be lodged in the next half year to allow sufficient time for processing to ensure continuity of the operation on completion of the bulk sampling programme.
Why would someone sell or buy $20 of shares and the price drops by 14.5%
That would be the sharese effect mate.
With the introduction of that and the completion of the SPP last month it would have been very interesting on where the share price would have been today. i would think the volumes we are seeing moving at the moment are from sharese investors buying and i don't think they get the notifications on the NZX so would have no idea of whats going on in the back ground.
They have resource consent to remove 20000 cubic mtrs of ore a year,which will be trucked out of the mine and treated as per most ordinary mines.The pilot plant is the basis for the new plant which will require new consents,which is what the company is referring to.