sounds like you just woke up,where have you been for the last 10 years?
Welcome back
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Ugh. At the very least I guess they are hoping that this has put some closure on the recent shenanigans and will be hoping for a fresh start... They must know that they must deliver now!
Wow oh wow!!!!! Just more of the same hopes and promises according to the posts of the people who tuned in.
Obviously there will be no gold coming out any time soon. The only thing coming out in due course will be yet another capital raise.
Well done to those that exited @ 0.007 this morning.
At last years AGM there was some black slurry on display that evidently contained some gold flecks. Did they have any virtual black slurry on display this year?
It's abysmal that NTL took the cowardly route by having a virtual AGM with questions forwarded beforehand and then selectively picked for a sanitised response.
Oh, and while I'm on here since 'bullish' got banned (about 5 weeks ago) he's been paid close to $40,000. Good to see he's taken a pay cut though. Probably the only positive to come out of this mornings meeting by the sound of it.
Still good reading if anyone's got time:
https://www.sharetrader.co.nz/archiv...php/t-386.html
The reason the meeting was virtual, is that they know when I attend co. meetings, I have a propensity to grab under performing and overpaid directors/CEO's by the scrotum, & give them a tweak.
For reasons I'm yet to fathom, they dont seem to like it!
I'm genuinely interested in this. I believe the time has come.
What is the process for appointing the new board? Who is qualified to recruit/interview and appoint the new directors? What happens in the interim when there is effectively no board? How do you ensure the outgoing sacked directors don't throw a grenade over their shoulder on the way out the door?
Disc: holding close to 10M shares but at a decent average price (so not nearly as disgruntled as some...)
Oh well - that was an interesting 2 year ride with NTL. I finally exited today due to my lack of confidence in the board or CEO at the AGM. I can now re-invest my funds somewhere they may actually give me a return. Farewell and good luck.
Good on you.
I posted the following post just before the last capital raise, when I also said "I just hope before anyone puts any more of their hard earned money into this 'rinse and repeat' company, they go back on this thread one year to 01 June 2018 and spend an hour reading. You owe it to yourself to do this at least!!!" [Post#4218]
Even top 20 holders get sick of NTL.
As I keep saying, there's lots of smoke and mirrors with this company.
GLTAH (I mean that too)
Per the Companies Act 1993
121 Special meetings of shareholders
A special meeting of shareholders entitled to vote on an issue—(a)may be called at any time by—(i)the board; or
(ii)a person who is authorised by the constitution to call the meeting:
(b)must be called by the board on the written request of shareholders holding shares carrying together not less than 5% of the voting rights entitled to be exercised on the issue.
156 Removal of directors
(1)
Subject to the constitution of a company, a director of the company may be removed from office by ordinary resolution passed at a meeting called for the purpose or for purposes that include the removal of the director.
(2)
The notice of meeting must state that the purpose or a purpose of the meeting is the removal of the director.
SO did the give any idea when they might start producing? 1 year, 5 years, or just silent on that???
So the company mantra will still be;
"Wasted days and wasted nights" by Freddy Fender?
The shareholders are divided between;
"Don't go breaking my heart " by Elton John, or
"What is love, don't hurt me no more" by Haddaway?
I just sold out aswell. Originally went in back in 2013 as my first ever share that I invested in.
I didn't have much in there but was an extremely frustrating stock to own. Feels good to be out.
I would expect at the very least,that all the unanswered questions from the general meeting should be answered via the web site.If not I am sure we can email board members with our questions,and publish the responses on this forum.
It's not asking to much is it?
Amen to that Steve
I had a chat to Matt post meeting. He said there weren't many questions submitted. Don't believe what you read from many the of posters on this thread.
Reading today's comments has been enlightening as to the comprehension skills of many of the posters. It would appear very few of them actually listened to what is in train.
I'm reminded of the old Buffet mantra. I'm not here to lead horses to water. DYOR.
Could you expand on that please Jonu?
The co. put out an ann .today, that the direction of the co was under review, and could change direction, yet most posters here are saying more of same old same old.
Who is right?
Message understood.
Perhaps more of a hint of the new direction please?
Is it what I have been advocating?
The chairman's address states that the company will go through a strategic review over the next 3 to 4 months.
In my opinion there was nothing new in the meeting (apart from the fact that they said that the main the objective of the pilot plant had been to show that the waste material is inert).
It appeared that they have decided to build their own processing plant and there was no discussion of any other processing options.
They talked about low lying fruits - mystery, stockpiles, infill, but nothing about low hanging ones... 🙂
There were a few questions about alternative funding and how they could ensure that the gold would not be stolen, and some questions about resources and potential targets.
The sound was a bit flaky so I might have missed something (eg I didn't hear the chairman's comments at the end)...
There were no time frames expressed but they did say they were not expecting a CR at this stage...
Disclaimer: I am mostly out after this. I think there will be plenty of opportunities to get back in at these levels...
Jonu aka Rampy Mc Ramperson.
Since you’re such a buddy of Matt did you actually ask him what demented mind he was in when he posted rubbish on this forum misleading holders?
It’s all blue sky dreams, ramp here, ramp there, ramp everywhere.
I’m not a holder and would never be in such a little cuddle club of a over hyped dishonest company.
Jonu's post about ignoring all the disgruntled holders on here is somewhat amazing to read, completely against the tide, and I don't really understand the position - Matt says there were no questions submitted? Well blow me down, I guess he doesn't have to share any information then! :eek2:
We saw some very good questions posted here, we know not all questions submitted were answered... but even if we assume nobody submitted anything, trying to justify a lack of transparency with 'nobody is asking' is terrible. They don't HAVE to be submitted, the company should be all over this and giving us that information anyway.
Agreed .. Continuous disclosure & keeping the market as well as stakeholders informed
What does Matt & the NTL Board not understand about observing those conventions
The Lack of anything of substance looks quite equally to represent it aint happening yet and yet and yet again
A different story when it comes to Cap Raise time to keep the Gravy Train chugging along into the future, however ..
Yes Meister, with regard to your last paragraph, I would have thought from a PR viewpoint, they would have addressed some of the info expressed here on this thread, its no secret Matt reads it.
Also, LTW assembled good questions, I hope they were asked, and answered?
This is the epitome of the ignorance I struggle to contend with. Who said "Matt says there were no questions submitted"?
Why wouldn't the company ignore the ridiculous, misleading and ignorant claims that are continuously made on this thread by anonymous posters who may or may not hold shares and are pushing who knows what agenda? Charbel's final comment along the lines of... your best source of information is the Company...not social media, sums it up.
The Chair has just made his annual address. The Ceo ditto. Read it and make your investment decision.
The Geologist on the Board has relayed important information that should figure strongly in anyone's decision making. Not hearing too many here commenting on that.
Just people making up fictitious quotes and wondering why the company doesn't bother to respond to the Einsteins here present. Go figure.
Long time reader/first time poster here -holding just below 7M. In for the long haul on this one warts & all. I just need to find ways to distract myself from it in the meantime to avoid the frustration. It's like a watched kettle...
Hi all. First time caller, be gentle.;) I was in NTL for a while but bailed last week. Taken a loss. Couple of questions. Has the CEO admitted to previously posting under the guise of bullish etc? I have not heard, yes or no. If he has admitted to it, why is he still in the role of CEO? How can he stay on?
"your best source of information is the Company."...
Jacinda Ardern said something very similar.
If they are not able to generate any cashflow from mining any time soon, what about re-exploring the avenue they were looking into when bullish originally contacted sharetrader - that is, getting posters real names and taking them to court. Could be some hefty settlements for the company from what other posters tell me. How does that income get categorised for accounting purposes?
That seems much more likely than cashflow from gold.
Your reputation precedes you from HC.
No he hasn't admitted that...Furthermore the Board had a third party look at the posts and concluded they didn't contain any info not already available to the market. The FMA haven't shown any interest, presumably for the same reason.
It does show very poor governance from the Board that they would be satisfied that their CEO was posting on a board under a pseudonym. It shows conduct unbecoming a CEO etc etc. Ethically it is a big no no and does not belong to this time. Other execs post here under their own names. ie Todd Hunter, John Southworth, John Pagani (when working at NZO). It would not have been that hard for Matt to identify himself. But for whatever reason, he obfuscated and deliberately hid behind a pseudonym whilst being an insider. Not on.
There's a fair bit of presumption in there blackcap. I agree with the general sentiment. Regardless, whoever bullish was, they haven't misled the market, unlike several other anonymous posters here.
While circumstances have forced a reshuffle in priorities, the main ones being pushing Mystery forward, consenting the plant and full tilt into bulk sampling, I'm excited about what the next 3-6 months will bring. All under pinned by the POG sitting at all time highs with most pundits predicting it to go much higher in the next 12-18 months. Happy Days!
I believe the real problems are political.
It took NTL a very long time to get approval for a traffic management plan and even then only 4 x 10 tonne trucks Per day were allowed.
NTL are still under a restriction of one blast event per day.
I doubt that we have a viable mining operation with the above restrictions.
When NTL get proper access to this mine I am sure it will be very profitable and be great for shareholders. I look forward to that day.
Evidence please. Or are you hypocritically presuming also?
Get real. There won't be any consenting or sampling in the next 6 months. There will a bit of time wasting back patting under the guise of a strategic review.Quote:
While circumstances have forced a reshuffle in priorities, the main ones being pushing Mystery forward, consenting the plant and full tilt into bulk sampling, I'm excited about what the next 3-6 months will bring.
Ramp on.Quote:
All under pinned by the POG sitting at all time highs with most pundits predicting it to go much higher in the next 12-18 months. Happy Days!
It did seem odd that consent was needed to access a public road, a farmer on a way back country rd doesn't get consent for 4 fertilser, hay or stock trucks, a day to visit his farm.
Being restricted to 2 blasts a day, never stopped the operator of the 3 Kings quarry in Auckland from making a massive hole in the ground, and only taking low cost aggregate, not high value gold ore.
Never the less, Ntl HAS these permits now, and if they had of been doing 5 blasts a week, they would have made it to OGC's pit in Waihi, by now, to pinch some of their gold!
4 truck movements a day is plenty for this boutique.
This aint Martha Hill, its Matt Hill...
NTL wanted to use resue mining which requires 2 blasts so that the waste and ore could be mined separately. The one blast event per day would in my opinion seriously limits their ability to extract ore. I could be wrong of course and I am happy for somebody to say so.
People on this website and myself on occasions have been critical and frustrated with the board and management but what’s going in the background - being the regulatory environment and particularly the politics is the real problem and unfortunately this is not being discussed openly.
NTL seem to be very careful to avoid engaging in the discussion of the politics.
I am as optimistic of the potential of the mine as Jonu but he is way more optimistic than me with the time frame.
Matt Hill is wading through treacle and maybe we shareholders need to cut him some slack.
Be that as it may, this co. needs no other distractions, just 'concentrate' on the main game.
Unfortunately we as shareholders would like the main game to be mining but it is more likely to be politics.
There would be many people in positions of influence that do not want the the mine to go ahead.
The mining engineering is tricky but nothing compared to the politics.
You might want to tone it down a bit.I do remember picking you up a couple of times on incorrect facts you quoted on this thread,and also not reading things fully.And before you get on your high horse yes I do hold a good number of shares in the company,and of course we want them to succeed.
Peoples perceptions can be so interesting.
Digger, did you ever get on the conf call? Any thoughts?
I did pose the question yesterday whether a recoriding on the AGM was being made, and whether we could access it later.
Patience is not helping my red arrows.
There was supposed to be a copy on their website, but I was unable to find it
Will be interesting to see which mine hits proper production first.
https://i.stuff.co.nz/business/12238...ies-for-locals
It would be nice to know how much the ceo was being paid,probably worth his weight in "gold" if he can extract a loan from Shane Jones.
Some free Ca$h dished out from Shaney's PGF Slush Fund may make the folk around the area feel a bit less ignored
Let's face it - the bucket has been busy sloshing Loot left, right & sideways at anything & everything (probably to many less deserving causes as well)
There may come a time when Govt needs every last productive enterprise there is working hard earning to help fill the large C-19 Hole, that the Socialists have managed to dig themselves into..
We have no idea who the independent third party was so how sure can you actually be that they were independent or they did anything more than a cursory review. You get on so well with the Matt obviously, why dont you ask them to release that information to the market so we can be the judge of that.
If your so worried Sell out and be done with it.
Ltw, I wondered what happened to you.
Other posters were saying there were few questions at meeting,
Did you air yours, and what were the answers?
Happily NTL doesn't need to jump for every ranter on H/C and this site. ThaiJohn says he sold out....so has no right to demand anything. Suse...who knows whether they are a shareholder? Ask the question of them yourself if you are so concerned. Various posters are ranting on the assumption the Directors are misleading the market. They of course have no evidence for this...but don't let it get in the way of a good conspiracy!
If someone is a shareholder they should seek clarification from NTL about the third party if they so wish. As usual, mud is being slung, conspiracies dreamed up and the usual suspects demanding to be spoon fed answers to their own conspiracies.
In response to haewai around the FMA. There is no evidence....that's my point. As to being in talks with a processor....I stand by the comment. Haewai appears to interpret the company statement differently.
Thanks Jonu. I have been in direct contact with the CEO. I am not going to go into great detail about the conversations and text messaging plus the late night phone call. I wanted some answers and accountability like most other shareholders, as I was sick of the standard 'its coming' so I approached the CEO direct back in March. I asked him straight up " what's the delay, when are we going to see any gold?" What followed was a barrage of abuse, (in both directions I must add) threats of defamation ( from a post I wrote on HC ) "Defamation suit in absentia..its like taking candy from a baby" was one of the replies from this guy, plus other dribble. So I sold down all of my holding at a loss. The questions is still valid though. Who was the independent reviewer and the comment about no interest from the FMA. Why is is so difficult for NTL to reach out and let us know?
i concur that any response I got out of Matt, was delayed, brief, and terse.
Hence my use of this forum.
I got on the AGM at about the time Matt was saying there was no recording of the meeting. Shortly after that the meeting concluded. I put in all LTW,s questions and some of my own. Also our largest shareholder asked questions. From comments I have on sharetrader it seems few were answered. Also Matt was recorded as saying there were few questions. More correct would be that few were answered.
I have the feeling that we are not given all the facts.It could be that all can not be released until finalized. Who knows. Watch this space.
I have finally sold out my position after a few years and a moderate loss. The recent embarrassment from the CEO took me close and the complete failure to even mention it, let alone reveal the disciplinary outcome, at the AGM has pushed me over the edge. It's difficult to admit I was wrong and to drop the 'maybe it'll all pay off one day' hope of making back the lost money, but I think I will be happier detached from this company. The promises have been endless, the progress glacial. My own particular pet peeve is that for the duration of me holding shares in this company, every single quarterly cashflow statement includes a paragraph like this at the end, word for word with the relevant numbers copy and pasted into place:
"The actual development expenditure for the quarter was $209,935 compared to a budget of $143,000. The reason for the variancewas due to the entity completing more mining work during the quarter than expected. Activities originally scheduled for the followingquarter have commenced earlier than anticipated."
No further reasoning was ever given, the company has still not managed to meet a budget as far as I can tell, and despite completing so much more work than they expected they still feel a long way from pulling decent amounts of gold out the ground. I would hate to see the state of the company if they had only completed the amount of mining work they expected each quarter.
All the best to those still with the company - I hope the board and management start to treat shareholders with more respect and actually end up getting some results. I will chalk this one up as a valuable lesson - maybe the loss comes out of my 'training' budget.
PoG, boom. I expect the share price will..........stay the same.
I am still waiting for some answers.
Who was the independent reviewer.
FMA, have they made any announcements and if so, when and what did it say?
Oh dear....a non-holder that admitted to giving abuse to the CEO over the phone rants from the sidelines. Could be a long wait before anyone takes you seriously. Check yourself to see if the FMA has made any announcements.
{Edit Vince: Removed your offensive comments towards another member.}
Jonu - it was you who said the FMA hadn't shown any interest. Which is factually incorrect going on publicly available information.
So why do you mislead?
About which company? Does the FMA spend its time releasing statements about all companies shouting "Nothing to see! Carry on!"? I think rather when it has concerns or wishes to rebuke a company, it makes an announcement. I see no such announcement regarding NTL.
Ask sensible questions when you want answers.
not quite the same as my understanding.
My understanding is that FMA investigations take some time, and that on conclusion they tend to release something.
My further understanding is that the FMA has announced that it was looking into a complaint alleging the boss of an NZX-listed mining company attempted to manipulate shareholders by posting favourable comments about the business online, and had no further comment to make on the matter at that time.
So, they're interested enough to be looking into the complaint. No idea where it will land, agree with Jonu that it may very well end up in a "nothing to see here" state, and with other posters that it may not. Wait and see I guess :)
After a few months of psychoanalysis of posters who purport to be long term or significant shareholders in companies like NTL, SKT. I've come to the inescapable conclusion many, if not all, have developed Stockholm Syndrome., if you pardon the pun.
Also the patience of Saints.
Is this a virtue?
NO!!!
It means you become APOLOGISTS for the directors/managers.
Accepting, excusing and justifying their short comings.
Instead of being ACTIVISTS for change & improvement.
Dr JPG.
New patients welcome.
PLEASE NOTE TODAYS BOOK MARK, 300 PAGES OF CHAT ( from 17-12-2012 ) and still no mine !!!!
Who needs a troublesome MINE any time too soon, when you've got the captive pockets of the ever hopeful shareholders to MINE
many times over as an easier target to ensure longetivity of stories & to justify existence said project(s) .. ? ;)
Discl: well diluted & many times Cap Raise screwed over NTL small holder
Also a lurker on this thread - have to agree with P+P and Getty
I've been a modest holder for some years, not selling yet, but won't be participating in the next CR.
I think there's a general consensus here that most would not partake in another CR without seeing refined gold out of the mine. This isn't rocket science, far from it. We should set up a poll on here and show him investor sentiment on his next CR.
If he's unable to negotiate his way through some bureaucracy he needs to be gone. Sell the ore unrefined, do a deal and get some throughput sold and trigger the mine running. Who cares if it shortens the other end of a mining permit? Demonstrate some low impact mining as promised and you'll be invited to continue......
Money coming out begets more money in; to push the mining harder. Otherwise its passed the line to get a Like Minded Investors Group of shareholders together and force some changes.
Couple four trailers to each tractor unit; show the creative thinking to get around the issues. The internal mine refining is not a terrible idea, but production and sale should have preceded process refinements and bleating out some frilly "green" chemistry that an undergrad chemistry student could have cobbled together out of lecture material and some basic laboratory skills.
Show what you've got and the investment will flood in again. Stop pissing around.
I would only participate in a CR if it was the final CR and I would be expecting the company to be putting a good case as to why it is the last. I would also expect management and directors to be participating in the CR. This company must be generating cash flow. I agree with Cammo it now does not matter about the length of the permit or continuity of mining , by now it is a matter of survival of the company. We have a rehabilitated mine, permit for bulk sampling and HDC permission for 4 x 10 tonne trucks per day. One blast event per day seems to be restrictive but the company needs to work around that.
Great post cammo!
CR/SPP - I will be another (very small holder) facing dilution - I cant gamble any more on NTL. Im concerned that there so many disgruntled holders saying the same thing. No cash injection sees NTL fall over - yes, they have $2m in the bank, but thats not going to last long with production/processing still on the distant horizon - I hope NTL can give us better guidance soon.
On the upside, some of the larger holders (well, Im happy to believe most comments on this thread) have said they are committed to funding this thing - Im happy to accept a smaller return and let them win.
NTL - give us a cash flow prediction please.
If they had a working business plan in place,there would not be quite so many negative comments on this thread.Investors would be able to determine for themselves if the business was heading in the right direction for them and their investment,and plan accordingly.
the Animal in me, inspired this song.
Some of you may know the tune...
"In this dirty old part of the mine,
Where the sun refuse to shine,
People tell me there ain't no use in tryin'
Now, my Gold, you're so rich and shiny,
And the one thing they know is Rahu,
You'll be in debt before your time is due,
I know it,
Watch my money in here a dying,
Watch my bank balance turning Red, Yeah,
I've been working, saving my life away,
Oh yes, I know it, Yeah,
I've been working so hard, yeah,
Every night I pray,
Fear, scare, oh dear, yeah,
We gotta get out of this place,
If its the last thing we ever do.
Cos girl, there's a better share for me and you,
Somewhere baby,
Somehow I know it,
We gotta get out of this disgrace,
Believe me Matty,
You know it too!
Dr JPG
Treating MINERS with DIGnity.
You're dead right there..
Based on the progress to date to the ultimate getting gold stuff on the table, there are far more inspiring
prospects elsewhere ..
It doesn't take much looking to find other worthy mining companies in this Sector, showing great growth & paying dividends as well
For those not watching the PoG, it's just bobbing above US$2,000 again now.
Some 'expert' US analysts say the recent correction below $2k was healthy and it can now continue its rise.
Let's hope they are right.
Agree with your post above, Brain
Has anyone heard the result of the FMA investigations into the CEO and his posting under the name 'bullish'?
Why do you need the results to come to a conclusion? The CEO was commenting on here trying to justify himself whilst also harassing people via text message. All the positive comments from SH are simply trying to convince themselves everything is ok. The slow progression of this company would be ok if every move they made was calculated and precise. Sadly every move they make is not only slow but also a shambles (pilot plant with no consent that’s meant to produce gold that can’t produce gold that is of no use at all but to prove results that are worse then the ones that we paid for a trip to South Africa to obtain that aren’t relevant). It’s simple, the management of this business are incompetent and until this changes this company is a terrible investment. I dare to even bring up the trip we paid for to Fiji a wee while ago to “scope new investment opportunities” lol good luck everyone
I know the answer alright..I just want it confirmed by the authorities. Had the CEO posted under his own name there would be no issue. I would like to see some accountability and a head to roll.
Ah, as the POG moves relentlessly upward, currently US$2004, NTL continues its sideways/backwards drift.
In the land of Dairy, this co should move its expertise to milking machines.
Ask any shareholder...
Digger, any words of wisdom post the AGM from you? I think you said you struggled to get on call though.