Sellers building, buyers steady - cash is king - hold on Jonu, so close to getting this turkey cooked.
Printable View
Sellers building, buyers steady - cash is king - hold on Jonu, so close to getting this turkey cooked.
Reading this part from their recent activity report suggest much more dilution to come:
"The Company generated additional capital by the issue of a ConvertibleNote for NZ$1 million to advance the strategic plan. The Company willconsider future funding options once the full costings of mining andprocessing have been established"
Shareholders think they're investing into a goldmine, but really they are the goldmine in managements eyes.
HGD to NTL
30 years of not being able to get a mine up and running.
Time for shareholders to realise its them being mined.!
Hey Silver, what's twenty years between friends eh? New management and directors was a decent coup, but doesn't change much on the delivery side, yet.
Nice to see some folks getting excited about the prospects here but maybe they shouldn't get too far beyond NTL is still an explorer looking for gold, they're not digging up gold, let alone refining and selling it. It's not clear yet whether NTL will be happy to just find the gold (if it's still there), or prove it's there and bail out to a mining company, or if they find it, push on to mining it themselves and try to refine and sell it.
From the ambition in the reporting, it looks like they want to go the whole nine yards, so you're right, it will take a lot more shareholder capital to get there, if they find and prove they have gold. One step at a time, this turnaround has yet to prove anything except that they can take over a company that might have some prospects. Good luck I say, but as an investment proposition it's still a long way from payback.
It will definitely be nice and refreshing to see this company actually get gold from the ground, but the pace is ridiculously slow and the cash burn itself is killing the prospect. Perhaps they might be in luck when National get in next election and they get favorable policies to start their mining.
Half Year Report
http://nzx-prod-s7fsd7f98s.s3-websit...944/385488.pdf
"In the last quarter of this year we have continued our firm focus on detailed costings and planning for implementation of the strategic
plan – with the goal being the cost-effective production of gold. We hope to be able to make further firm announcements on this
before the end of the year."
Thats soon!
Exactly. The chairman also advised 'We are pleased to have confirmed that our original costings and assumptions remain realistic. '
It is encouraging to see the Board and Auditors have added current notes to the more historic end of Sept Report to keep shareholders fully appraised.
Hey Blizzard the gold is there all right in excess of 300,000 oz as confirmed in the JORC reports if you read back.
Many NZ companies have board of directors that turn up to meetings just to eat their lunch. Not the case with NTL.
This is a very very strong board.
Agree Brain, Good to see a lift on both exchanges today with decent volume not the sharesies low volume drip which constrains it. One hopes the market recognises how as James Cornell points out in his newsletter certain development companies with low valuations have investment opportunities heavily skewed to the right. Meaning the worst one can do is lose !00% if it becomes worthless while the best is a limitless profit if all goes well!