Could lightning strike twice in the next few weeks - a Premiership for Liverpool (possible), and a major announcement for NTL? I'll take either
It would appear the wind has gone from the NTL sails for now.
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Could lightning strike twice in the next few weeks - a Premiership for Liverpool (possible), and a major announcement for NTL? I'll take either
It would appear the wind has gone from the NTL sails for now.
It sure is a waiting game with this crowd. Price has eased back on low volume. I imagine there will be buyers watching to buy on the spike of the financing announcement. I guess the "coming weeks" statement is about as vague a statement as the previous "soon". Still, am expecting happy days ahead, just not too many days ahead I hope:cool:
Why would it take very long to arrange alternative finance? Given the Chinese deal must've looked shaky several weeks ago, I'm expecting an alternative arrangement (long-term loan?) to be announced sometime this month....call me optimistic.
BC
Let's hope, as BRL have just announced, it's not capital raising by way of a cheap issue to institutions and 'otherwise sophisticated investors' at say 0.8c !
Well they do say "advanced stage of negotiating an alternative financing arrangement" so this has been a decision made up a while ago or that they were talking with alternative financing while they were talking with the Chinese.
The part I love best is the "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.”
As much as we hate to wait, we know progress is ongoing with the site preparation, either way as long as things are moving along I'm happy to sit and wait.
Haha yeah please NTL don't do a BRL.
OK Easter and ANZAC Period is now over, time to get to business and make the announcement please :)
Also does anyone use Direct Broking? Or used to....the 'ANZ Securities' website i just dont like it
FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
TALISMAN MINE FINANCING OFFER ACCEPTED
New Talisman Gold Mines Limited announced today that it has accepted an offer
of a structured financing facility for the Talisman Mine project. The terms
of the acceptance letter signed by NTL provide for A$1.6M of an A$2M
converting note facility to be advanced subject to satisfaction of certain
conditions, including entering into satisfactory security and other facility
documentation. The converting note provides for NTL at its sole discretion to
either:
1) Upon repayment of 30% of the loan Convert 70% of the loan to equity at the
end of the 12 month period, or
2) Repay the loan in full, or
3) Upon repayment of 30% of the loan, roll the loan over the remaining 70%
for a further 12 month term.
The funds drawn down from this facility will be applied to the Talisman mine
bulk sampling project and working capital requirements. NTL anticipates the
$1.6M will be sufficient capital to allow NTL to initiate the bulk sampling
program outlined to shareholders at the 2013 AGM. The bulk sampling project
provides for the first cash flows from New Talisman's mining operations and
will allow NTL to be cashflow positive within 12 months from the start of
bulk sampling operations which are expected to begin in the second half of
2014.
Under the terms of the accepted offer NTL expects to be in a position to
execute documentation and have access to the funds within 30 days. NTL will
announce the detailed terms of the facility once documentation has been
executed.
Executive Director Matthew Hill said, "In a very difficult climate for junior
miners' particularly gold-related juniors, NTL is particularly pleased to
have been able to attract an offer to finance the development of the Talisman
mine through to first production. It is an indication of the very attractive
investment proposition the Talisman mine represents. We remain on track to
reopen the Talisman Mine; historically a highly productive, high grade gold
mine in one of the most productive gold mining areas in NZ and our transition
from developer to producer status is nearly complete. We are mindful that our
shareholders have indicated a strong interest to participate in the funding
of Talisman and the board is currently reviewing options to allow such
participation."
Matthew Hill
CEO
New Talisman Gold Mines Limited
Direct +64 27 5557737
Matt@newtalisman.co.nz
And thats it - funds are there now - go NTL go!
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
TALISMAN MINE FINANCING OFFER ACCEPTED
New Talisman Gold Mines Limited announced today that it has accepted an offer
of a structured financing facility for the Talisman Mine project. The terms
of the acceptance letter signed by NTL provide for A$1.6M of an A$2M
converting note facility to be advanced subject to satisfaction of certain
conditions, including entering into satisfactory security and other facility
documentation. The converting note provides for NTL at its sole discretion to
either:
1) Upon repayment of 30% of the loan Convert 70% of the loan to equity at the
end of the 12 month period, or
2) Repay the loan in full, or
3) Upon repayment of 30% of the loan, roll the loan over the remaining 70%
for a further 12 month term.
The funds drawn down from this facility will be applied to the Talisman mine
bulk sampling project and working capital requirements. NTL anticipates the
$1.6M will be sufficient capital to allow NTL to initiate the bulk sampling
program outlined to shareholders at the 2013 AGM. The bulk sampling project
provides for the first cash flows from New Talisman's mining operations and
will allow NTL to be cashflow positive within 12 months from the start of
bulk sampling operations which are expected to begin in the second half of
2014.
Under the terms of the accepted offer NTL expects to be in a position to
execute documentation and have access to the funds within 30 days. NTL will
announce the detailed terms of the facility once documentation has been
executed.
Executive Director Matthew Hill said, "In a very difficult climate for junior
miners' particularly gold-related juniors, NTL is particularly pleased to
have been able to attract an offer to finance the development of the Talisman
mine through to first production. It is an indication of the very attractive
investment proposition the Talisman mine represents. We remain on track to
reopen the Talisman Mine; historically a highly productive, high grade gold
mine in one of the most productive gold mining areas in NZ and our transition
from developer to producer status is nearly complete. We are mindful that our
shareholders have indicated a strong interest to participate in the funding
of Talisman and the board is currently reviewing options to allow such
participation."
Matthew Hill
NTL - NEVER TOO LATE :t_up:
smart, i like it, its a straight loan so no loosing a % of the mines income.
12 month extension option is also smart, if for some unforseen reason there is a delay in production or income is less than forecast or production is less than expected then we have the option to extend the term of the loan by another 12 months
Good call bucko - must have heard you:)
I was late seeing announcement. Normally come through on my emails. Still not through 35 mins later. Anyone else with the same problem?
Might explain the muted response thus far.
NTL, time to remove the overburden and hit the paydirt.
Then time to clean the refined paydirt and weigh the gold.
Then pay me some money.