You forgot to add the capital raise if they get further progress with DOC and I would still like to know that they have a toll treatment agreement in place.
Not much point mining it if you can't process the concentrate.
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Looks like the SP is off to the races - was it final rites being declared over the Hill, motions on licence to remove stuff from under Hill, or something else ? ;)
Lots of flu going around at the moment. It probably just gold fever.
https://www.stuff.co.nz/a/environmen...lts-12000-fine
National park mining venture results in $12,000 fine
Nott there - silly nugget ;)
New Talisman Gold Mines Ltd (NTL) is pleased to advise that NTL Independent
Director Richard Tacon has agreed to provide a $300,000 unsecured loan
facility carrying an interest rate of 19% per annum to support NTL with
short-term cashflow pending the Company's intended capital raise in June
2024.
Ouch
This is about the 6th time I've put this up. History just keeps repeating and some people never learn.
Newbies beware!!!!
Attachment 15131
must be a smell of gold somewhere if dough is eagerly being lent into the tin @ extortionate usance rates of 19% ;)
Here's some more of his bragging (now embarrassing) posts from that period. ALL figures prior to the 1:10 share consolidation. Do your own math when it comes to prices mentioned :scared: :scared: :scared:
https://www.sharetrader.co.nz/showth...l=1#post972735
Will be interesting to see what the SP does over next month with imminent CR which will be at some discount to the VWAP. On the plus, they will hopefully get DOC consent, weighing on the down is processing and extraction.
19% - you can take some of my money!!! Shares are effectively unsecured too - as could lose it all if venture fails.
Certainly interesting couple of days.
Company out of money so gets an unsecured director's loan. If it's only for a month the 19% really means nothing.
It's a brave call by the director to go unsecured seeing there is still so much to get over the line before a CR can be performed.
I found it strange that there was buying up to 2.7c recently when everyone knows a CR is coming. I did wonder if it's to raise the average SP and hence the price of the CR. Before they were probably looking at 1.7c - 1.8c at best.
The amount raised I assume is going to be reasonably significant to pay for a plant. I had assumed before that Terra Firma would be providing the crushing & grinding plant, but apparently not.
So $300K of the CR is already spoken for, plus cost of a plant, plus enough funding to last them 6 months? 12 months? Whilst mining.
I assume there will also money on mine refurbishment, dust extraction etc.
They had $190K I believe still in credit with Terra Firma but that will be chewed up pretty quickly.
The last capital raise was supposed to get them into production. How would have this been possible without a plant? Something doesn't add up to me.
I suspect the CR will need to be north of $2M perhaps even up to $3M
http://nzx-prod-s7fsd7f98s.s3-websit...158/420047.pdf
NEW TALISMAN SIGNS HEADS OF AGREEMENT WITH TERRA FIRMA MINING FOR TALISMAN ORE PROCESSING
Pre motion motions being signed up .. bound to excite some :)