Wonder if we will see some reports today? someone must be expecting something good .009's nearly cleared out
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Wonder if we will see some reports today? someone must be expecting something good .009's nearly cleared out
Surely this is a no-brainer, with any positive results tomorrow (no matter how small) its likely to send the SP upwards. The expectation is certainly high that this will be the case. Even a 1pt move upwards is a 16% gain...
All the best to all of the holders. I hope we get some positive news today.
It looks like some excitement ensued at the AGM today with the presence of Protect Karangahake. Video on their Facebook. Wonder which one of you here shouted “and are you a lesbian too?” Lol
Pretty sexist and redneck sounding there Ace. lol
Anyone got anymore info from AGM?
Have you read the chairmans heassup on the NTL site, very good up to date with new numbers, it will be very interesting to read the next report which should be the assay results from some of the pilot plant through put. The have as reported 500 tonnes of old stock piled ore to work through, once that is completed they have to work the numbers @ appro .25 gms per tonne (480 oz ) @ $2100 / oz , approx. $1,000,000 N Z , decide on what to order as a processing plant, apply for that permit, order and pay for( some of the $ 4 mil funding that we have as a result of the SPP) install then start processing, could take 2 years all up -- from today Im picking, with no hold ups, funds should last Im picking, if not another small SPP would be required but at that time the S P will be well over .12 IMHO !
Yes I was there. Not the usual start to an AGM with the protesters rudely interrupting the Chairman's report and another filming everyone in the audience for Facebook. If they were men they may have received a slightly more direct 'not welcome' message from the some of the shareholders. The front table presenters I thought politely handled it very well.
My penny's worth from the meeting is:
Still waiting on the assay results from the pilot plant concentrate - expected within the week. They were queried on why the delay and responded they cannot accurately predict how long the testing takes. Samples of the grey concentrate were available to look at after the meeting but I could not see any glistening yellow stuff in it.
The pilot plant has performed 'promisingly'.
The company is well cashed up with $4 million in bank.
The ventilation equipment is completed and running very well with imperceptible noise.
The Rahu permit exploration, with much of it in DoC land, has slowed due to DoC needing to abide with ongoing Treaty negotiations.
A decision on the expanded production plant strategy will be made quickly after the assay results are available - possibly within the month.
The expanded plant will also need a resource consent which is hoped will run smoothly based on the back of the pilot plant consent already in place.
NTL has established very good relationships with the local Iwi, Council and other stakeholders. A good level of trust is now in place with NTL doing what what they initially said they would do. The company's aim is to an excellent example of low impact mining.
Both Wayne Chowles and Murray Stevens gave interesting presentations on the future direction and options available.
The timing of full production processing is still difficult to predict - much depends on the assay results.
A further capital raising was not discounted in the more distant future. The proceeds from the pilot plant were not seen as providing a significant contribution to the cashflow.
One member of the audience suggested the next meeting was held close to the mine. He said there was a lot of local Coromandel support for the mine and having an AGM there would send a strong message to the minority protester group.
The question time was extended with a variety of questions being asked and responded to - with a mixture of caution and optimism. Back to the eagerly awaited assay results!
Thank you guys
Yep that's a good summary of what I saw too.
Matt had a broken rib and the protestor was a young girl who obviously hasn't got a job to do, like the rest of the dooby smoking sandal wearing PK hippies out front.
When Matt stole the minders cell phone and wouldn't give it back, that was quite funny.
You may be wrong on one point, but it wasn't clear, as they are lousy promoters you cant really hear properly who jumble there words and are not concise enough on shareholder concerns.
But it appeared to me that they said a resource consent for a full scale plant, would "NOT" be required, if they built it on the same site as the existing pilot plant.
We all got confirmation that the protestor is a lesbian, after one shareholder offered to bet her that she was one, and she confirmed.
Assay Results, take time, and Mat Hill obviously didn't realise how many they would be doing, and how long it would take.
It seemed to him to be a non issue that he promised them X time period, and they take longer.
The management seem very comfortable with the timeline and process for how they operate.
And obviously do not feel any need to advise shareholders if they don't meet estimated timelines.
The shareholder who is a local down there, said there was great support for the mine, and it was only that fringe minority of greenie nutters who were causing those disruptions.
Rahu is long into the future, there is no point wasting time or resources on it.
They have a job to do setting up the main processing plant.
One point, the "Concentrator" that keeps popping up in questions, where is it, what happened to it.
Well that is what the small plant is, and when the big fella comes in, that will be the big concentrator.
It makes concentrate, as per the jar they showed us today.
That is good, this means once plant is fully operational, its only concentrate being trucked out - correct ?
My take on the big plant is that a Resource Consent will be needed however possibly it can be 'non notified' on the back of the pilot plant already successfully operating within the conditions of the current consent and may quickly be consented. My understanding is the grey concentrate you saw is the end result of the pilot plant processing before smelting. They still need to truck the ore from the mine to the plant. The ore I understand will be preselected from the veins to minimise trucking costs.
I also attended the meeting. The two protestors were arrogant and smug. I think they thought themselves awfully clever. One was smiling away taking footage on her Smartphone. I don't suppose she considered where the precious metals within it came from.
I have a couple of interesting things to report on, but it has been a very long day, I will post some more feedback from the meeting and some interesting discussions I had afterwards when I get time
I do hope this person sought the approval of those attending the meeting before posting photos on line !!:scared::scared:
If not should report them to the privacy commission!
Is an ASM considered a public place, would not have thought so.
I see signs up all the time now, about please do not take photos/videos at places like public swimming pools etc, - all around privacy - means you cannot take photos of your little Johnny/Jane learning to swim in case you include other children/people and you may publish it online somewhere
Obviously the Christchurch Call isn’t making much difference as it was supposed to stop terrorists filming and streaming their actions !!
I agree but have to say it is unnerving having someone unexpectedly stand on a stage in front of you unfurl a red banner and begin chanting a doctrine. To add to that then see a young woman filming it with a strange smile on her face. Light years from Beslan obviously but have to say it was initially a surreal situation where things could have gone badly wrong. ....
Thanks for the update all - in summary, patience my dear NTL holders.
Righto, I think most of the general commentary from the Meeting has been covered but a couple of things from my day....I asked Board member and geologist Murray Stevens whether one of the old drill samples showing over 1kg per tonne was likely just luck of hitting a sweet spot, or whether it was geologically possible for that sort of grade to continue along the vein. His answer was that it was entirely possible, and that he has always felt that vein mirrored one of the existing worked veins. He did say it was likely to fluctuate along its length.
Remember this is a vein that has never been worked, is extra to existing Resource, and is now reasonably easy to access by digging across.
I appreciate there is a lot of frustration over delays in the assay results but in the scheme of things a few days is immaterial. I remain extremely upbeat. I also had brief chats with Charbel Nader and Matt Hill around processing of ore and the various options. My impression is that NTL are in a very good position to pick what is going to suit them best, and will have several options available. Some would require less or no Capital and provide quick cashflow, or the longer more expensive route with higher returns.
I had another interesting discussion after the meeting with a chap in the foyer which I will post about seperately to clearly delineate it from anything to do with the Board or Company itself.
https://www.nzx.com/announcements/341267
It's good grading that they've announced, although I wonder if these results have been cherry-picked?
+ + WOW, assay results out for the ore stockpile,
1st batch, gold 989 g/t = 38 oz/ tonne, silver 4120 g/t = 158 oz / tonne.
2nd batch, gold 876 g/t =33.69 oz/tonne, silver 2800g/tonne= 107.69 oz per tonne !!!
Are these assays correct , WHAT AM I MISSING ? !!
It's as clear as mud as usual,how much ore was processed to produce the 1.2kg of concentrate?And where did the 2kg of concentrate come from which is being assayed,as they have only produced 1.2kg so far!
But looking on the positive side at least there is some gold there.
Remember the concentrate is effectively a 4:1 ratio of the original ore. This shows that the pilot plant works in practice with extremely high recovery rates. They said at the AGM that the plant will need tweaking to get the balance of everything right. We should see a stream of assay results as they progress.
Steve, at the AGM they said that they were processing (sadly didn't say how much each time ) and sending the processed concentrate off for assaying regularly -- every couple of weeks Im picking , we have to wait for additional up dates, this is a great start much better that I was hoping for, looks great for the future.
Finally what we have been waiting for.
Below is a post on HC i thought was a good read.
Please excuse any spelling and grammar mistakes, tapped my thoughts out at work over coffee
NTL are going through the appropriate process.
The pilot plant will do two things. Right now it will produce assays. The assays will be used for a DFS (which is near the end of a mines "startup process".
Secondly, throughout production the pilot plant will guide the company on which sections of the mine to process, keeping yields high.
Assays -> DFS (which is a very advanced stage in the mine proofing process).
DFS -> Bank -> Loan
Loan - > Full plant.
Every month this company looks more and more like a company I can assess relative to other mining companies. This company can now be valued with less uncertainty.
If any of you have read the PFS, you will see a loan was always necessary (and factored into the NPV of $16-$36mil per year) and they are now set up to take this company to production.
Happy to be a holder of a company with a clear production runway. If fact the main thing to take away from today, is how easy it is to forget NTL has jumped most of the red tape. All that remains now are usual business regulations.
NTL has mining infrastructure, testing equipment, assay proofing, and a strong case for a loan to tap into that NPV from the PFS.
If anyone would like a light run-over of the acronyms it helps put NTL in perspective. From a industry wide view point, NTL looks very good.
A bank will likely loan to a company with sound fundamentals in a politically stable country such as NZ (BTW for anyone concerned the bank will see environmental regulations being met, and not the hippies making a fuss at the AGM).
Pre-feasibility studies.
There are three common reasons for carrying out pre-feasibility studies as follows:As a basis for committing to a major exploration programme following a successful preliminary programme. It is possible for commitments of tens of millions of dollars or more to be made for ongoing exploration and development on the basis of a pre-feasibility study, prior to decision to mine.
For example, where ore reserves cannot be proven by surface drilling, underground development may be required for exploration at an early stage of the project.To attract a buyer to the project or to attract a joint venture partner or as a basis for a major underwriting to raise the required risk capital. A pre-feasibility study may also be prepared in full or in part by potential purchasers as part of the due diligence process.To provide a justification for proceeding to a final feasibility study.
The results of a pre-feasibility study may be the first hard project information that is seen by corporate decision makers. There is a risk that the findings are committed to memory and announced publicly so that it becomes difficult to dislodge them with subsequent information. In such cases, the pre-feasibility study is the real decision point, with the subsequent feasibility study being seen by management as a necessary step along the path that has already been irrevocably committed.
For these reasons the pre-feasibility study must be prepared with great care by experienced people, and its conclusions heavily qualified wherever necessary. Assumptions should be realistic rather than optimistic because it is very difficult to bring management and markets back to reality in the event that the final feasibility study is significantly less favourable. The main features of the pre-feasibility study are:Mine design based on a resource model.Best alternative selected from a range of alternatives.Preliminary studies completed on geotechnical, environmental, and infrastructure requirements.Bench scale metallurgical tests and preliminary process design completed.Cost estimates based on factored or comparative prices.Usually result in an Ore Reserve estimate
Study accuracy 20% to 25%.Ready to proceed to final feasibility study.
Final (definitive) feasibility studies
The final feasibility study is usually based on the most attractive alternative for the project as previously determined.
The aim of the study is to remove all significant uncertainties and to present the relevant information with back up material in a concise and accessible way. The final feasibility study has three objectives:To provide a basis for detailed design and construction.To demonstrate within a reasonable confidence that the project can be constructed and operated in a technically sound and economically viable manner.
To enable the raising of finance for the project from banks or other sources.
The term Bankable is sometimes used in connection with final feasibility studies. This just means that the study achieves a quality and standard that would be acceptable for submission to bankers. Whether a particular bank will actually lend against the project is another question, depending on many matters that are outside the control of the feasibility study team.
As per my post last night, after the AGM I was approached by a chap in the foyer who had attended the meeting and whose interest was sparked by some of my questions. I won't name him or who he represents but suffice to say that it involves significant European interests. He was extremely down beat about the World's financial markets and was of the opinion that 2020 will see another contagion starting in Europe with some of their leading banks.
The upshot of that is they are looking to exposure to both physical gold and miners in stable jurisdictions. In particular, our little gem is on their radar. Where that goes will be interesting in itself, but they won't be the only ones. Scary times globally but perhaps fortuitous for NTL.
The N Z market will be very interesting once the Au market opens.
Why thank you Steve, is it my miraculous ability to state the bleeding obvious, or my witty repartee to cut to the chase and make meaning from the general BS clear as mud company communiqué's ??
Or my Dad Jokes maybe, I could tell you the Irish Woodcutter joke if you wish ?
Interesting indeed,so where do we see the SP going from here,if you look at the options it would suggest that the company see's the SP at above 5c a share within 3 years,So lets say that values the company at over $200m.This figure is peanuts for some companies,and you have to ask yourself would I sell at these prices,I know I wouldn't.So what sort of offer would be good enough for shareholders to sell?
Interesting indeed.
I think you are missing that this is concentrate. Tells us nothing about the gold content of the input material, just that the process is managing to weed out and concentrate some of the gold as hoped. Jonu has stated 4:1, but surely it must be many times to 1 (input weight to output weight) to get those sorts of results?
Oh dear. Looks like the Aussies have got the scent (cent). Typical. Give them a sniff and they are after it like a rabid pack of Dingoes.
if it is a 4:1 ratio it would be amazing but think you are right Cyclist.
@ 989g/t Even if they had to process
30 ton of ore to get 1 ton of concentrate that still gives them 33g/t of gold from the ore 137g/t of silver
40 ton of ore to get 1 ton of concentrate that still gives them 24g/t of gold from the ore 103g/t of silver
50 ton of ore to get 1 ton of concentrate that still gives them 19g/t of gold from the ore 82g/t of silver
60 ton of ore to get 1 ton of concentrate that still gives them 16g/t of gold from the ore 68g/t of silver
Pretty good numbers realy but until we get some more details we are only guessing
Thanks for clearing that up Jonu. Did they mention what the daily through put of the plant is?
They stressed that the pilot plant (concentrator) is specifically to produce all these assay results and to use these to design and set up the main processing plant.
Which is when we will start to see the real action.
They could not give us a timeline and plan for that, which I thought was a bit slack, but kept re-iterating that the makeup and design of this plant would depend on all these results and they were obviously spending a lot of time trialling the size of rocks and inputs / outputs to make sure this is the right decision.
Cost for the new plant did not seem an issue, when someone asked if its going to be 3m or something, they all laughed, but then failed to say what they thought it would cost, they would not estimate.
They say they have enough funds to get to full production.
Very interesting points people have mentioned, about the selling power of everything that comes through this plant, so zero waste, and no increase in footprint on the surface.
So greenies if they bothered to investigate, should be happy.
Was there any talk of exec rem? Given thats a large chunk of where $$$ has gone in the past?
That makes alot more senceBluemanarc; Maybe I'm a bit slow :sleep:
So as an aveage from the two batches sent away, it is:
4 ton of ore to get 1 ton of concentrate that gives them 233g/t of gold from the ore 865g/t of silver a hell of a lotI think i now understand the importance of the polit plant and why it will never see mass throughput through it. bring on the full production plant I say. By the time they get it they will have all the key areas assessed and know exactly where and what ore to process.
Noted that it is likely that they have not put 4 ton through the pilot plant.
From what I gather via comments on here after the AGM the pilot plant is very much in test mode only doing very small batches i.e. just under 5kg of ore would produce the 1.2kg of concentrate they had on show.
8kg would produce the "2kg batch of centrifuge concentrate is being assayed and prepared for dispatch to a Major New Zealand based concentrate end user for testwork to form the basis of a commercial off take agreement"
Even with cheery picking the Ore that is extreamly Hi recovery rate IMO.
Hopfully they get to that stage without been brought out as I see the upside of this being huge.
Gold is back on the rise to over $2,400 heading towards $2,500.
We can't be far away from further assay results and other activity progress. And POG still hovering around $1500usd
Why is it taking so long to have additional assay results released and when they are I do hope that there is more detail released to give a fair idea as to the gms per tonne from the very small sample?
Yes, so much news needed:
- more assay results, as first concentrate was sent away ten weeks ago
- more info on progress with discussions with the "... Major New Zealand based concentrate end user for testwork to form the basis of a commercial off take agreement"
- plans for pilot plant scaling up
- conclusion of assessments of enquiries regarding alternative potential treatment options, which has been hanging at the end of quarterly repoots for a long time
- agreements with Terrafirma on commercial plant term sheet "An update will be provided to shareholders by the Board shortly) <- that was three months ago.
The Quarterly activities report is due out the end of this month
Where is the gold? Show us the gold! The GOLD! :eek2:
https://www.rnz.co.nz/news/national/...pand-gold-mine
Maybe the Political risk for NTL is overstated. The above link certainly shows some common sense being displayed by the Coalition. NTL by comparison to Waihi is about as green as you can get.
In my view this is very significant.
When are we getting more results from the " mine " ?
Christmas ...... 2023
(Holding, but learning newfound cynicism)
It's pretty poor to not have any new announcments.
I understand there is a cost to them and the focus is likely on theQuarterly activities report due later this month but come on!!
They can't have any news yet,as they would have had to release it, good or bad,you can't sit on it nowadays.The NZX has a continuous disclosure rule:-
https://nzx-prod-c84t3un4.s3.ap-sout...697794e3d9b343
3 working days in which to update the shareholders. Lets hope.
Wonder if its going to be another "within the last hour possible on the last day possible" special again
I'm looking for progress on all the points on the last page of the previous quarterly:
- Completing pilot plant test work - expected to have finished by end of September - and with full assay results and identification of scaling needs of plant
- started processing high grade ore for revenue
- completion of design for first decline into Dubbo, and start of work
- significant progress on negotiations with Terra Firma and other parties for treatment options and take-off agreements
- lodging of resource consent application for full mining
Very nicely put haewai,they might update the pilot plant works,but that's probably all you will get.I would copy and paste your very good and valid points into an email and send it off to the company,then at least you can have a moan when we don't get the info everyone has been waiting for.
Omg. So after all this time with high hopes and promises they've got 1.8kg of concentrate. Not Gold only concentrate....
Young, have you got a link you can share? Actually, got it
https://www.nzx.com/announcements/343566
I wonder, deeply, what the offer of "operating the mine on NTLs behalf" means. Is it possible that one firm runs the mine, another the processing, and NTL does... what?
Or is the statement yet another of the offers of interest that appear and are never resolved in the quarterlies
Yeah I agree. Sad but that's the way it is with this company. Neither the CEO or directors bought any shares in the SPP or shortfall, but continue to draw their fat cat salaries courtesy of the people who did participate in the SPP.
GLTAH but a bit of slurry is hardly enough to pump the share price, nor more assay reports (jeez how many have their been now?), and the destruction of wealth from the 3 cent share price from about 18 months ago to where if is today IMHO can be laid squarely on the aforementioned 'fat cats'. Meanwhile the cashburn continues......until it's tiime for the next SPP!!!
I sold half today, but overall have made $30k so not too upset, but have been hoping for another ramp up to sell into, but that doesn’t seem to be happening , so going to put more into something else. I had some for sale at .009 for a month , but the volume was to light to hit it, so it fell off. I first bought at .006 and sold around mid .025 as it fell, and in and out on the way down . Im not as young as i used to be ..60 this month :t_up: so not hanging around
GLTASH . I hope it works out for all you guys that have been in it for the last few years . I love the walks in those mountains, and hope it gets going some day . I ll be watching ......
NTL/HGD are historically about "discovery" of gold, not about actually mining it - its seems a simple transition but obvisouly not. Ive been riding this wave for 10 years, and have had some ups and downs with trades. The one consistent is that cash outflows have alwasy exceeded inflows, therefore SPP. I particvipated in teh 2c capital raise a couple of years back, as I thought they were on the cusp of change - another 2 years down the track, and same old.
Im like you Yoda, watching and waiting. WIll dip my toe in when things become a little more tangible.
With no expected news for the next few weeks, I predict 0.006c by end of next week...
I'm staying optimistic although they still seem a long way from selling gold
- perhaps the plant will be financed via the bankable study
- perhaps all this talk of operating this, that, and the other is one step away from selling everything
- perhaps there is an enormous vein of gold in dubbo
- perhaps the resource consent will be lodged in the next week and fly through
- perhaps in the meantime ore could be toll-processed down the road to maintain a decent cash balance
Two announcements are due this month: the pilot plant up-scaling and the resource consent lodging. These will be significant milestones.
I have said it before it's time for Matt Hill to move on,he's done his job,NTL now need a strong management to lead the company into production.and sales.Matt can keep his 400K a year,but put him in charge of research/prospecting,after all the gold at waihi will not last forever.
In the 1900,s they mined alot of gold , everyone knows the gold is there. For me it was about getting it out, and that is just not happening nor will it, while people get paid for very little progress. I can discover a beautiful lady, but if she doesnt come to the party, its a waist of time. Any thing is only worth having if you can actually get it out of the ground. Oil , coal, gold , who cares .... its like having a canvas and paint, but no artwork to sell.
I remain optimistic too. But having said that I sold all the shares I purchased in the SPP this morning @ 7c. At least I made $200 I had to reduce my exposure to NTL.
Possibly Terra Firma may come up with some cash to finance the plant. I would expect them to be offering more than their premises and labour for it to be attractive to NTL.
The Mystery vein is the key point of interest to me. If it is as extensive as the Maria Vein then it could be a game changer. Rahu is very long term.
Plenty of time for the full mining consent because they have not initiated the bulk sampling phase and that will only happen after the plant or some other processing arrangement is in place.
The development of this mine is a mind boggling slow process
2 years of bulk sampling at 360 oz gold equivalent per month would certainly generate some cash flow. The question is when is it going to happen.
Well enough of that I am off to watch some paint dry.
[QUOTE=haewai;776711]I'm staying optimistic although they still seem a long way from selling gold
-
At the AGM a couple of years ago they did say that they need the bankable study to be able to access bank finance. So, assume this must be the long-term plan.
The have 500 tonnes of Ore ready to be processed, so the "toll processed" option would be an easy option to generate cash flow.
I am very disappointed in how slow things are moving, but still believe we more chance of a significant increase (100% +) in the share price than decreasing by say 30%.
Looks like SP is crashing....
Any old who, one persons dump is another's treasure. I was able to pick up another million shares at near spp price this morning. I do find it strange that people are bottling it at the very time that other miners are making overtures.
Awfully close to the middle of November. Should be an announcement imminent going by the Quarterly info.
Let's get real. It's slow down for the Christmas holidays next month so I doubt there'll be anything happening until the new year...
Maybe so but $90 K so far today on ASX?NZX somebody knows something
This line from the last quarterly annoyed me: Following completion of the capital raising which was offered to investors at 0.65 cents ($.0065) withshares trading at 0.009 currently shareholders who participated have been well rewarded.
Shareholders want a lot more from the company and directors than a small blip in share prices. Time to deliver.
Ugh. But the NZX SP has it GOING DOWN so if they do, it ain't good news...
You have to ask yourself at what price would I buy some shares? .007 to .008 seems about right at the mo.I don't think you can read anything into recent trading.If it goes below .007 which means it would be below the capital raise,then you have to ask your questions,but the current levels don't seem to suggest anything.
You wont like my last HC post then.
Yep that was me.
I have changed my stance on the mine purely as I have now lost complete faith in management.
The penny has finally dropped that they have been continually lying to us, and I think in a potentially illegal manner.
If this company fails and someone buys them out, then I will invest back in this mine through that vehicle.
Or if Mat Hill goes, then I will buy back in.
I must admit I was taken in by their lies, and had gold fever and couldn't see the obvious until it was staring me in the face.
Had a read of it. You're right, I don't think much of it. I understand the frustration around slow progress, but the bankruptcy talk is nonsense. You should have had the cojones to ask hard questions at the ASM. They did answer many of the issues you raised in your HC post, perhaps you weren't listening and have unnecessarily burnt yourself exiting. Trashing it to burn others as well after your exit; that appears to be spite.
perhaps they should produce a detailed business plan,as management seem to lurch from one goal to the next year after year.The board are not really class business people but miners,and yes they have done a good job,but they have also taken too long to do that job.With a detailed plan at least they can apply for consents in a timely manner,plan for staffing,expansion,exploration cash flow etc.
Are they miners though? They seem well educated and have business backgrounds and that’s not to say miners aren’t well educated. Even if they were “just” miners, that’s not an excuse for failing to meet self imposed deadline after deadline, delay or misrepresent i.e two capital raises ago we were “fully funded” for the bulk sampling programme. If anything they should exceed expectations for having that experience. We still have barely started. Call it for what it is, this management team is weak (especially for the price they are demanding) and have poor shareholder relations. Someone said Matt doesn’t think it’s important to meet deadlines. This speaks volumes about their management style. They won’t bat an eye to make forward looking statements and fail to adhere to it, if they can’t even do that then what else are they failing to do? Look how fast their communication is when it’s time to shake the money tree and raise capital.
I went back a year to test the "doesn't meet deadlines' opinion. This is from the 30 Sept 2018 quarterly:
I think there was a small delay (couple of months) getting the pilot plant operational due to resource consenting issues, but aside from that, they seem to be on track. Am looking forward to a series of announcements on conclusions of commercial discussions, including the upgrade of the plant, expected any day.Quote:
During the quarter the company continued discussions with a number of parties that have approachedthe company for treatment and offtake of the high-grade ore as well as parties interested in acquiringthe concentrate product produced from the plant. With blasting and extraction having commencedand the pilot plant being installed tuned and subsequently being commissioned, once the recoveryrates are confirmed the company will be better positioned to take these discussions to a commercialconclusion. It is expected by the end of Q1 2019 we will have sufficient data from the pilot plant to determine the maximum volumes of concentrate and bullion produced which can be produceddirectly from the pilot plant and the recovery rates achieved.
It was definitely delusional of the previous poster to think the pilot plant would produce the revenue s/he suggested/hyped for. The capital raising was very clear that it would enable some cash revenue, but the true purpose was as a test facility.
I went back and had a read of posts from when I bought in "on a punt" a couple of years ago. I think Bluemanarc probably bought in at around the same time. I share his frustration, but I was only ever speculating on this so am happy (no wrong word, resigned ) to hold and hope the price improves so I can offload and remind myself not to take punts. No point offloading now as I think i'm about 75% down, or more.... I cant bear to look! :) Thankfully not huge money tied up but I'd sure as hell like to get it back.
I will say that Jonu is as optimistic now as he was back then so I hope one day this ship does sail as clearly you'll make a fortune!
Maybe NTL should make the SPP claimable as a tax deductible donation. Ha. Ive been at this lot for more than 10years, and "a punt" is a very good description.
Good news just around the corner though :eek2: