NTL - New Talisman Mine - New board & Directors

Maybe not a price mover, but hopefully a "firmer" if that makes sense. Waiting, waiting, waiting....

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Originally Posted by jonu

Maybe not a price mover, but hopefully a "firmer" if that makes sense. Waiting, waiting, waiting....

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Till we break out of this range and the price is firmer for more than a week after a rise, I'm just being patient. It's really annoying though when they mess around with the spread. Earlier it was 0.012 - 0.013 then now look 0.011 - 0.013 and if you look at past it is a common theme. Oh well :p

Whens the 30 days up moosie??

What outcome is everyone hoping will happen?

I hope the due diligence is a success and we go to a shareholder vote on what should be done. If this occurs I feel that having external confirmation that NTL could be operated profitably we could see NZ investors become more interested e.g. Newmount, in striking up a deal.

I think voting could go either way. There is two sides of the coin, if the deal is accepted then we are looking at fast tracking to mining and pulling the gold out of the ground. This involves less cost to the company and ultimately is faster in returning some gains to us, the share holders. But that comes at a cost. A majority of the gains received will be given to the investing company, which is a major downside and ultimately means less gains for us, if this is successful.

On the other side, we can wait for a better deal or try fund another way. This incurred more cost and less time getting the gold out of the ground. Ultimately means if its a success, the shareholders will achieve larger gains, but if we don't find a place to process the ore, we could be burning capital looking for someone to do it.

Thought I may try strike up some conversation on this thread, as if the DD is successful we will have to pass a vote!

I know we also striked up a conversation when the initial offering came out about what the company should do, but now as we get closer the the time when we will see the results of the DD, I thought I would revive the convo and see if we can come to a conclusion.

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Originally Posted by Yankiwi

I've gone back through the HGD announcements and the approval of the mining permit was released to the market on 04/12/09.

HGD announcement

As I recall, the permit stated that mining had to begin within 5 years.

Five years from the announcment is 04/12/14 or just over 10 months away.

Either we'll get going before then or have to work some magic around the permit.

Is it safe to say we'll be mining prior to the end of a 5 year period?

I sure hope so.

Still holding tightly :cool:

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Well this suggests to me that we are in-between a rock and a hard place (gold potentially). If we accept the deal we will most definitely begin mining by the permit date. If we don't and try find a better deal, thats puts a huge time target on agreements!!

Still holding tight as well.

I know we would not be getting as much out of the profits if we accept this deal but ultimitely i would like to see the company take the offer so mining can commence sooner rather than later, gold is predicted to make a rally over this year and potentially reach new highs so i wouldn't want the company to miss out on that, or miss out on the permit expiring before mining commences!

Also with the other projects NTL have in the pipeline i'd like to see all profits from the immediate future re-invested into these..diversification!

I agree with Bucko. The company tried to raise 1.5M$ in September from shareholders and received $348,000. That was a particularly disappointing result. At that time I doubled my shareholding through the SPP. I think NTL shareholders had their chance. Clearly any subsequent deal to fund the mine is unlikely to be as advantageous to shareholders as the SPP would have been.

Brain

7 days until its been 30 business days and thats including all the public holiday days, stretching it out a bit aren't they, any update would be nice? even if it was just to say the chinese have had the site tour? or negotiations are ongoing? anything! im dying right now haha the suspense is killing me, ive waited over a year for this! (i know some people here would have held for longer i am sure)

I'm interested to hear some other opinions as to the various scenarios of this deal clicking or not. My own voice gets boring even to me!

1. Deal goes ahead. Seen as good by the wider market and sp rockets.

2. Deal goes ahead. Longterm s/holders see serious erosion of profits and don't like it-BUT do they bail, or hang on trying to salvage what they can?

3. Deal is canned. Initial drop in sp seen as an opportunity to top up by those who see greater profit available.

4. Deal is canned. Armageddon

I'm sure there are plenty of other possiblities.

Personally I'm picking no.1, but I would as I have a low average buy in. I think no.4 is not really at all likely as the company has made good progress in terms of consents etc, so still has a good future imho.

What do others think?

https://www.nzx.com/files/attachments/188387.pdf

I read it as a "let's dance some more before we head for bed darling";)

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Originally Posted by jonu

I read it as a "let's dance some more we head for bed darling";)

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Is potential partners:
* there is one partner but multiple people OR
* there are other interested people, a completly different partner

Wishful thinking that its the later

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Originally Posted by Landyman

Is potential partners:
* there is one partner but multiple people OR
* there are other interested people, a completly different partner

Wishful thinking that its the later

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To me it's pretty clear he's referring to the Chinese. Drawing things out is probably a smart move as it gives more time for the POG direction to be clarified. I don't see any reason why NTL can't be winking and blushing at other dance partners in the meantime.

NTL can wink all she likes at other dance partners but until they look over at her, thinks she's hot and consider her a good investment in time & money...she ain't nuthin' but a wall flower.

I'm a holder hoping that this wall flower doesn't get so desparate that she'll say yes to the first creep that sweet talks her into bed for a one-night stand. Her parents (shareholders) would not be pleased.

I don't understand why each day this week in pre-open there's been a 5000 bid matching the ask price. today again there is 5000 shares bid @ 0.014 = $70... is it likely a seller is buying their own shares to prop the price up, in the hopes that someone else will then come and take our the ask of maybe 100k+ shares @ 0.014?

Tick Tock tick tock

https://nzx.com/files/attachments/188630.pdf
https://nzx.com/files/attachments/188631.pdf

some good progress made in the last quarter, and i like that cash increase! haha

i guess its going to be quiet now on the announcements until the end of Feb...then hopefully it'll be smooth sailing upwards from then on!

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Originally Posted by z0ton

https://nzx.com/files/attachments/188630.pdf

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With regards to the HOA with Chinese investors for 65% of gold - The announcements says that this is for phase 1 only, so I must assume that NTL have a longer term picture in mind.
I'm thinking that NTL would also want the Chinese investor to spend all the money to clear up the old parts of the mine, improve foundation stability, geological surveying/seismic graphing etc in return for 65% of perhaps maybe 20,000-30,000 ounces of gold or whatever amount of gold they expect to dig up within first year or so (Phase 1?)

IMO what this means is that once phase 1 is complete NTL would no longer be obligated to continue with partnership with Chinese investor, thus allowing Phase 2/3/4 etc to continue by themselves.
They would then be able to dig into the deeper parts of the mine with the cash that they have saved up from the remaining 35% from phase 1.
Or seeing as the investor gets first rights of refusal for future developments they may be offered a proposal that is of a lesser value, or not worth taking up in future.

Perhaps the true value in unlocking NTL's SP lies in extremely high grades in extremely large quantities in the deeper parts of the mine. Deeper areas that are currently still not fully explored and assessed.

This is my conspiracy theory
What are all your thoughts?

From NZResources today, not much extra detail though.

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Green and red tape being cut by New Talisman

31 January 2014 In its long-awaited quest to get into re-establishing gold mining at the Talisman gold-silver mine at Karangahake, New Talisman Gold Mines Ltd (NZX & ASX: NTL) says it made several advances during the quarter.
Apart from the well publicised signing of an agreement with a Chinese investor group for $NZ10.9 million development money, the company has also signed an access agreement with the Department of Conservation on the Karangahake area and had received resource consents for development from the Hauraki District Council.
Executive director Matthew Hill said that in the December quarter New Talisman had also raised $348,445 before expenses through a share purchase plan, with funds to be applied to bulk sampling and trial mining at Talisman.
As reported earlier the heads of agreement was signed with Hong Kong-linked St Albans Pty Ltd for full funding of phase one development at Talisman, with a management and technical team due on site early in February.
St Albans was investing $10.9 M in return for the right to earn a 65% interest in the physical gold won from the project.
The proposal provides for the investor to set up a separate processing facility to treat the ore and first right of refusal on future joint ventures with NTL.
Unlisted subsidiary Coromandel Gold Ltd holds the Golden Valley gold project, also in the Hauraki Goldfield, for which there is a drilling programme under review once targets have been verified.
The 21.7% owned Broken Hill Prospecting Ltd (ASX: BPL) is advancing studies on establishing a sulphuric acid industry with pyrite concentrate from its cobalt-rich deposits in the Broken Hill region of New South Wales.

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Originally Posted by moosie_900

Yup I agree stumpy. The hope was for a nice rerate of the stock when mining was near/commenced but this has fallen by the wayside as the PoG plummetted and funding from easier sources never eventuated. it has again turned into a long term wait and see what happens next stock.

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There may still yet be hope for shareholders if the US can't get it's sh*t together. POG may go up again?

Matching trades on the 2 exchanges today. This isn't the first time I have noticed this. Anyone have a theory why?. Would it just be someone's trading policy? Seems a bit odd to me.

The way international markets are playing out and the firming POG make me think this extension in d/d time could be a good thing. It's likely to make the Chinese keener and also NTL more aware of their potential value. I wonder if there is anything to stop NTL renegotiating as their outlook improves?

POG currently sitting 40c off what most of the Gold Threaders are agreed is the resistance for a breakout. ($1275) If it does this has to be good news for NTL.

Best scenario for NTL is to wait for the bullish run in the Gold market (perhaps as early as this month), renegotiate with the Chinese or else walk away from the table to negotiate with another player. Act in haste, regret at leisure.

A rights issue is still in the back pocket, although again, it's unlikely to be well subscribed to until the bulls are once again all excited and institutions and financiers are knocking on our door, rather than the other way around.

POG broken through to 1279 at time of writing. If she holds overnight it could be game on :)

Mining protest in Coromandel
http://www.stuff.co.nz/business/indu...-in-Coromandel

lol, did those protesters scare Chinese investors away?

Thanks for that. At least it shows that things are happening.

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Originally Posted by Master98

Mining protest in Coromandel
http://www.stuff.co.nz/business/indu...-in-Coromandel

lol, did those protesters scare Chinese investors away?

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Originally Posted by Master98

Mining protest in Coromandel
http://www.stuff.co.nz/business/indu...-in-Coromandel

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65% of 32,200 ounces of gold is only 20,930 ounces.
At a conservative $1100 POG rate it's only about $20mil gross return to Chinese investors. NTL gets the remainder which is gross $12mil.
Let's assume that all outgoings come to 65% of $12mil. That leaves NTL with $4.2mil cash, not factoring in future higher POG possibility (I haven't calculated what the outgoings are likely to be realistically - 65% seemed a good percentage IMO)

Remember as well this is all for Phase 1 only with first right of refusal for future phases. No obligations for future phases.
I reckon NTL would then have enough cash to fund their own work for the deeper parts of the mine, which is where the real SP value will be unlocked.

Hatherine DelaC*nty

:eek2:

She misleads when she says an Australian company has the permit. NTL is in fact dual listed ASX/NZX company with registered office in Parnell, Auckland, NZ

Unlisted options that expire in 2019, I think the secretary is going to retire in comfort & style ....... :t_up:

https://www.nzx.com/files/attachments/189878.pdf

Can we get an update with the Chinese site visit? Any one know the date for the end of the extended period for this?

Ahhh, grasshopper, how long is a piece of string?

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Originally Posted by Landyman

Ahhh, grasshopper, how long is a piece of string?

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This is from the announcement regarding the extension...:

"New Talisman Gold Mines announced today that is has received a formal letter
of request for an extension to the signed Heads of Agreement (HOA) with St
Albans Pty Ltd dated 12th December 2013. The formal request is for a period
of 90 days from the date of the signed agreement to allow completion of
definitive agreements and technical due diligence."

By my reckoning the 90 days were up yesterday, so are we finaly getting close to the end of the string...?

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Originally Posted by BigBob

This is from the announcement regarding the extension...:

"New Talisman Gold Mines announced today that is has received a formal letter
of request for an extension to the signed Heads of Agreement (HOA) with St
Albans Pty Ltd dated 12th December 2013. The formal request is for a period
of 90 days from the date of the signed agreement to allow completion of
definitive agreements and technical due diligence."

By my reckoning the 90 days were up yesterday, so are we finaly getting close to the end of the string...?

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Doh.....!!! 90 days after 12 December is 12 March.... So that's this Wednesday instead... my bad...!

Thanks Bigbob. I hadn't picked up on the start date myself. Sooner is better than later!

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Originally Posted by moosie_900

Might pay to email and ask 90 days as the crow flies or 90 business days.

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Great idea Moosie, let's kick off another "Dear Nick" saga such as that at post #916 onwards! ;)

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Originally Posted by robbo24

Great idea Moosie, let's kick off another "Dear Nick" saga such as that at post #916 onwards! ;)

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Dear Nick,
We at NTL knew we would hear from you sooner or later. We trust your English classes are proceeding well enough for you to understand that what we mean by 90 days is 90 days. Not Sooner or Later but 90 days.
Whether they are business days is none of your business. Sooner or later you will be wanting to know if we have any gold but that is neither here nor there. We should be able to let you know soon, or a bit later on
Yours
Sioux

Nick reporting in,

perhaps I should reply to the last email I got from Sue and pester her some more :D Ahh the joys of being young and naiive.. I bet they forwarded my email around the NTL office and had a laugh there as well! :D

亲爱的 Nick，

请走开。我们不想让你窥探我们的业务遍布。

90天意味着走开，傻瓜。

从陈 St Albans Limited

[Popping this into Google translate is worth the laugh imo]

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Originally Posted by robbo24

亲爱的 Nick，

请走开。我们不想让你窥探我们的业务遍布。

90天意味着走开，傻瓜。

从陈 St Albans Limited

[Popping this into Google translate is worth the laugh imo]

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I can't get this link to work. But I think I get the gist. We all had our chance to stump up with a decent amount of cash and get this job done from NZ funds. For whatever reasons, we generally thought it was a long stretch. It's just as well all the people who flocked here in the 1860's to invest and work in horrible conditions on the goldfields, didn't think like we do now. There could be a NZ firm making the gear to extract this gold, and a few NZers employed to get it out.

Instead, a crowd from China that we've never heard of, will probably bring over some of their gear and some capital, and coincidentally take most of the gold. With the rights to take a lot more of whatever is left, after future exploration.

:laugh: "We do not want you to spy on our business all over." much engrish, such amuse

Never mind the "Nick" stuff, we are seeing a firming of the share price, albeit on low volume. Just the improved POG or folks speculating on the JV outcome or some with a bit of inside info? I think we are in for an interesting few weeks here:)

I'm not getting overly excited. The bid side is very light (1.2c with little volume) and on the asx (which tends to drive the sp), bids start at 1c and that's only for 150k then nothing until 0.8c.

Still, historically, when there is a positive announcement, it spikes here in NZ for a couple of hours which is where some money can be made before the asx drags us back to earth. As for longer term, that depends on how well NTL Management negotiate a finance deal.

Have they proven themselves as able negotiators before? They will need to be in the current climate. Next month could well be different as Finance Houses realise the bullish trend that Gold has established over the past three months will likely continue, but lately gold juniors have had cap in hand when it comes to getting finance. If NTL have negotiated an improvement over what they indicated earlier then that will restore some confidence in their management.

Discl: holding a few but may sell half on a spike.

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Originally Posted by Bobcat.

I'm not getting overly excited. The bid side is very light (1.2c with little volume) and on the asx (which tends to drive the sp), bids start at 1c and that's only for 150k then nothing until 0.8c.

Still, historically, when there is a positive announcement, it spikes here in NZ for a couple of hours which is where some money can be made before the asx drags us back to earth. As for longer term, that depends on how well NTL Management negotiate a finance deal.

Have they proven themselves as able negotiators before? They will need to be in the current climate. Next month could well be different as Finance Houses realise the bullish trend that Gold has established over the past three months will likely continue, but lately gold juniors have had cap in hand when it comes to getting finance. If NTL have negotiated an improvement over what they indicated earlier then that will restore some confidence in their management.

Discl: holding a few but may sell half on a spike.

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I agree with much of that Bobcat, although I'm not paying too much attention to the depth. The buys this morning weren't there as bids. I think even the deal that is on the table now adds value to the company, just not as much as they could get with some canny negotiating or a different strategy altogether.

Discl: Hold too many (but cheap:p)

Some insider trading this morning? Somebody just took the sp from 1.5c to 1.1c (i.e. down 30%) with a dump. Not bad news I trust (but their announcement is overdue, which is usually not a good sign).

BC

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Originally Posted by Bobcat.

Some insider trading this morning? Somebody just took the sp from 1.5c to 1.1c (i.e. down 30%) with a dump. Not bad news I trust (but their announcement is overdue, which is usually not a good sign).

BC

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Seems a strange thing to do on the face of it, but you never know why someone needs to sell. At least it clears the worst of the overhang at 1.5!

I don't know how this is going to play out when they do announce...If the chinese agree to a deal I'm guessing the price will spike (but how much???) as its not a signed agreement as it needs to be put to a vote before its accepted and if we dont accept that deal then it will tank again.

Although saying that, on a positive note. Maybe there is a delay in announcing because they are re-negotiating a much better deal given the price of gold??? which can only increase from here really, especially if they proove the Malaysian plane was taken for terrorism (hopefully not, thats quite worrying) and the situation in Ukraine is on tenterhooks with the voting just finished.

POG is heading for $1400 as I write(1386). Timing couldn't be better. There's a healthy bid of 5 million wanted @ 1.1 in Oz but not much else. I suspect there will be a lot of cash waiting on the sidelines. There is bound to be a spike in my view. If the chinese deal is off it means more for existing shareholders, if it's on the cash starts to flow. It's been a long time coming but it is a nice position to be in.

Discl:Holding plenty

Theres a long tail in the the SELL column now - activity is expected....

this is the longest 90 days of my life

90 days would have been 12 march, 90 business days is the end of April :(

Just give us an update!

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Originally Posted by bucko

this is the longest 90 days of my life

90 days would have been 12 march, 90 business days is the end of April :(

Just give us an update!

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Assuming "90 days" is 90 days, you'd think the would have to, wouldn't you - there are as far as I can see only three possible scenarios...:

1. The Chinese have walked away - which is material information
2. The Chinsese are on board - which is material information, and
3. The Chinese have got another extension - which is also material information

So if that were the case the company would be in breach of NZX rules... On the other hand because NTL is just a tiny penny dreadful maybe nobody gives a toss....

Of course if "90 days" is 90 business days the company could provide some clarification and an update on the process, but because they are just a tiny penny dreadful and nobody gives a toss, why should they bother...

In conclusion I assume that even tiny penny dreadfuls have to follow the rules and I must therefore conclude that "90 days" is 90 business days and that the HOA is not due to expire until the end of April, so am expecting nowt but deafening silence from NTL until then....

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Originally Posted by BigBob

Assuming "90 days" is 90 days, you'd think the would have to, wouldn't you - there are as far as I can see only three possible scenarios...:

1. The Chinese have walked away - which is material information
2. The Chinsese are on board - which is material information, and
3. The Chinese have got another extension - which is also material information

So if that were the case the company would be in breach of NZX rules... On the other hand because NTL is just a tiny penny dreadful maybe nobody gives a toss....

Of course if "90 days" is 90 business days the company could provide some clarification and an update on the process, but because they are just a tiny penny dreadful and nobody gives a toss, why should they bother...

In conclusion I assume that even tiny penny dreadfuls have to follow the rules and I must therefore conclude that "90 days" is 90 business days and that the HOA is not due to expire until the end of April, so am expecting nowt but deafening silence from NTL until then....

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Ahhh, I think we have all missed the point that the CHinese may actually be talking about the length of a Mercurian day which is almost 59x longer than that on Earth - therefore still 88 days to go..........

Why not just ring the company and ask them what is going on?

Country: NZL
Telephone: +64-9-303-1893
Fax:
Company Secretary: Susan Sangster

Susan should be able to oblige?

Dear Nick,,

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Originally Posted by blackcap

Why not just ring the company and ask them what is going on?

Country: NZL
Telephone: +64-9-303-1893
Fax:
Company Secretary: Susan Sangster

Susan should be able to oblige?

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It went like this...:

NTL: "Sorry, we will update the market in due course...".....

ME: "Fair anough, but could you at least confirm when the HOA expires...?"

NTL: ".....".... <--- that's to illustrate deafening silence....

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Originally Posted by BigBob

It went like this...:

NTL: "Sorry, we will update the market in due course...".....

ME: "Fair anough, but could you at least confirm when the HOA expires...?"

NTL: ".....".... <--- that's to illustrate deafening silence....

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Hmmm ok, fair call. Time to dump the shares methinks if that is what you get from a company.

Hmmmmm. Very interesting, over 1 million disappear from .013 asx sell , next stop .20. Somethings up?

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Originally Posted by moosie_900

Could just as easily be a stale ask timing out with all the raging liquidity that goes on with NTL! ;)

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Yeah, nah. A stale order would have disappeared this morning not after close in the evening. I'm with Miner, why would you hang out a juicy carrot like that when news is imminent?

Good discipline being shown on the ASX, with offer at 1.9. Markets ready for something-I like, I like very much. There is much to like.:)

Discl: Holding heaps.

NTL seem to have gone all retro on us - silent movie anyone?

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Originally Posted by Landyman

NTL seem to have gone all retro on us - silent movie anyone?

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Someone write to them please.. I want to do another round of "Dear Nick" letters.

There should be something soon.

Timing of course is important. If tonight we see the price of gold do its pirouette and head north again then a positive NTL announcement sometime this month could boost its perceived value and price quite nicely.

Discl: holding...still.

I've just reread the last announcement of 23rd Jan. and we are well overdue an update imho. Various site visits by execs and technical people were due in Feb. The 90 days extension by my reading expired in Mid-March, going by the statement that said the 90 days related to the HOA dated 12 December. Perhaps management are hard at work finalising something, or if negotiations are ongoing it is dragging it out, either way we should be informed.:mad ;:

Dear Nick,

Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal.

NTL Management

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Originally Posted by moosie_900

As I replied to another member, the Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal. Look at WCL.AX to see what I mean.

Concordantly, I am not holding my breath here (I'd be KIA by now anyways!)

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Moose when I put that reply together with your comments on "fat germans" it's not a great look. I don't judge Canadians by your actions, which maybe a relief to them:p

Wouldnt have thought so - you are hardly conservative. :)

Good luck with sending a goldmine through the mail, Moosie . Postage will be horrendous.

Quote:

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Originally Posted by moosie_900

As I replied to another member, the Chinese love playing little games with their low ball offers, taking very extended periods of time to eventually come to a conclusion (usually not an agreement unfortunately!). There system and cultural norms work quite differently to ours; if the best price isn't accepted, walk away as there are plenty more needy companies waiting to do a deal. The longer it drags out, the less likely we are to see a deal. Look at WCL.AX to see what I mean.

Concordantly, I am not holding my breath here (I'd be KIA by now anyways!)

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Hi guys I am someone who is both a Kiwi and someone of Chinese background I can give my perspective. I just came back from 3 weeks in China to visit in-laws and other family members.
My father in law is a pretty well off businessman involved in steel&construction.
From what I witnessed Chinese actually do business similar to Westerners in a lot of ways but IMO what makes China different from western practices of doing business are the laws and structure of government.

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Originally Posted by Stumpynuts

Hi guys I am someone who is both a Kiwi and someone of Chinese background I can give my perspective. I just came back from 3 weeks in China to visit in-laws and other family members.
My father in law is a pretty well off businessman involved in steel&construction.
From what I witnessed Chinese actually do business similar to Westerners in a lot of ways but IMO what makes China different from western practices of doing business are the laws and structure of government.

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Indeed, thank you for the reminder that moosie_900 is just one opinion.

If you set your watch by him you could be early, late and on time all at once...

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Originally Posted by moosie_900

Cheers Stumpy for the insight ;)

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No probs,

Similarities:
- Companies in both countries do the work first and then chase creditors for payment (Mainzeal anyone?)
- Business meetings take place during breakfast&lunch (Expense claims)
- You scratch my back & I'll yours applies both here and there
- Getting on the p*ss during business talks
- Cash jobs

Differences:
- Personal relationship with the person you're doing business with has to be established first before any talk of business can take place (Cannot just talk business and only business, you have to get to know other business person at a personal level)
- Getting on the p*ss in China is mandatory during business talks. Even if you don't want to drink, if you don't drink then you insult the other party and pretty much don't get to do business later on
- People fight to be the one who pays the bill during breakfast/lunch (Happens quite frequently here during Yumcha)
- Less employment disputes in China (Work or starve in China, unlike NZ where a toxic employee can still claim for unjustified dismissal blah blah)
- Status is everything (Even if you're rich enough to live comfortably, if you don't drive a BMW/Merc/Bentley etc then you're considered to not to be someone worth doing business with)


There are only but a mere fraction of things I know of, and above only really applies for medium-larger companies as far as I know.

And were done - St Albans OUT, bank loans IN

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Originally Posted by Landyman

And were done - St Albans OUT, bank loans IN

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GENERAL: NTL: Chinese Investor Update

4th April 2014
FOR IMMEDIATE RELEASE
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
Chinese investment update
New Talisman Gold Mines announced today that it has been unable to reach a
satisfactory commercial agreement with St Albans.
A Heads of Agreement (HoA) was signed by NTL in December 2013 with St Albans
who were unable to commence on-site due diligence within the timeframe set
out in the HoA. Despite the lapsed HoA both parties had continued discussions
in good faith. Ultimately the NTL directors have decided that these
discussions did not reflect the offer of direct investment into NTL on the
basis set out in the HoA and have declined to proceed.
NTL has subsequently received a letter of intent from the Langfang Group
proposing an earn-in arrangement whereby Langfang would provide at its cost,
technical, engineering and specialist ore extraction and treatment services
in exchange for a percentage of the project. NTL considered that this
proposal in the form provided was not acceptable.
NTL is currently at an advanced stage of negotiating an alternative financing
arrangement for the Talisman project and expects to be in a position to
update shareholders in the coming weeks.
Executive Director Matthew Hill said, "With alternative financing options
open to NTL the board felt that the options presented during negotiations
were not in the best interests of New Talisman shareholders. 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."

Quote:

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Originally Posted by Landyman

And were done - St Albans OUT, bank loans IN

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Nick will be happy to finally have his answers.

Props to NTL Management for keeping it real. If they weren't going to stick to the principles of the HoA then they can shove right off of NTL.

NTL is a gem. Easy access, high grade gold and in a stable political system with the rule of law.

Quote:

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Originally Posted by robbo24

Nick will be happy to finally have his answers.

Props to NTL Management for keeping it real. If they weren't going to stick to the principles of the HoA then they can shove right off of NTL.

NTL is a gem. Easy access, high grade gold and in a stable political system with the rule of law.

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And the share price is going ?????????? No where as it turns out. Fully priced in that the investor was a bargain hunter trying to take the mick......

Quote:

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Originally Posted by Landyman

And the share price is going ??????????

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Shareprice doesn't matter, not that it's going anywhere.

Long term, which is what most NTL people are (by choice or otherwise), it's the better option if the intended partner was being silly.

This is certainly very interesting news. If the announcement was the deal was dead on its own I would have been a bit worried about where to now, but given they are saying they are well advanced on financing its fantastic news. One would assume no horrendous splitting of profits and confirmation expected in a matter of weeks.

Discl:Still holding tight

I agree it's a positive announcement given NTL Management have confirmed they are not willing to sell out to the first financier that comes along with what turns out to be an empty promise.

Even a bit of media coverage.

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:

Quote:

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Originally Posted by jonu

It sure is a waiting game with this crowd.

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Funniest comment i have seen all week. So true. Have been waiting nigh on 20 years myself :) (well actually I sold out a while back but I think ppl can wait another 20 years if their track record is anything to go by)

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

Quote:

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Originally Posted by Bobcat.

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

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I agree BC. Certainly by mid-May anyway.

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.

for those interested plenty on offer at 1.1 in Australia. You have about 30 minutes to get your buy order in :)

Quote:

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Originally Posted by blackcap

for those interested plenty on offer at 1.1 in Australia. You have about 30 minutes to get your buy order in :)

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It's not showing on the Oz board announcements yet. Something is up with the system, either ANZ or the NZX.

http://www.stuff.co.nz/business/indu...iefs-NZX-delay

yeh there are issues on the NZX side this morning

Quote:

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Originally Posted by blackcap

for those interested plenty on offer at 1.1 in Australia. You have about 30 minutes to get your buy order in :)

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1.2 now, IMHO NTLOA's are a better buy for leverage considering the Nov 2017 expiry date, 4 + years to get organised.

Quote:

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Originally Posted by Minerbarejet

Aussie at par 1000000 at 014

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opened @ 1.1