I realise this but I would have thought under the fast track legislation that that would have encompassed all requirements !
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Maybe it will, but it's only a Bill at the moment, not in force. Put a submission in: https://www.parliament.nz/en/pb/sc/m...approvals-bill
Again prove me wrong. This is highly likely a disgruntled activist middle manager at DoC who hates the current govt and has it conveniently placed on a tray of papers to get to and is secretly loving sticking it to them cause they can
Jones in the house today saying the right things again. What's NTL doing about fast forwarding operations?
https://youtu.be/doLg317kW24?si=gjOZKaBWbxZmesYI
They're not just any old snails, they're the stripped & spotted, green lipped, two tongued, three toed, endangered, almost extinct, moss dwelling, swamp snails, protected by powerful government agencies who can perpetually ruin your greedy environmentally insensitive investment ambitions! Those very special environmentally sensitive snails also live underground, deep inside prospective gold mines, as do the mosses they need to survive ... that's the truth! I read it on MSM, Facebook, X, and the Greenpeace save the planet BLOG. Call me a liar, and you'll be the ones who are sorry, I know the DOC guy who is sitting on your consent renewal, and I'm his landlord! .. LOL, feck all of you insensitive heartless environmental wreckers and plunderers who just think about your self worth enrichment, I've got a plan for you! It's all about saving the striped spotted snail, the environment, and the planet, you just don't get it.
[/SATIRE] off.
If this is true BB your doc land lord is talking out of school , and should be reported , it seems from your statement whatever NTL does to meet its requirements it will not be enough so why are we been given false hope.
B B , why dont DOC collect up all of these snails, put them in a freezer, go away for a holiday forgetting to turn off the freezer and just like they found when they returned the last time that they did this when DOC tried to stop a coal mines application saying that there were very precious snails on site that needed that ground in order to survive, hay presto , ALL DEAD just like the last time ( under the care of DOC ).
I would hate DOC taking care of my future !
From NTL's activity report back in January:
"New Talisman has all other approvals it needs to commence production and it is extremely frustrating that DOC has made little to no progress with our application for almost nine months"
Either a blatant misuse of power or one of the most inefficient departments ever. The system is broken either way and its not the way to operate, the whole process needs to be overhauled.
Hey come on now - with all their huts suffering varying forms of destruction, snail issues & now which papershufflers from the bundle are going overboard - did anyone expect any better ? ;)
Aside from their conservation of the bureaucrat's own corner spots in the small empire and protection of the lifestyles attached to that particular spot ;)
Agreed - it probably needs to be reviewed & reconstructed from the Bottom levels up to the top & a vast pruning session undertaken .. to purge all the dead, dying, diseased, rotten & unnecessary wood ..
DOC will be full of mung bean eating bearded women who look like Catherine Delahunty.
There day consists of sitting in a circle on the floor singing Kumbaya whilst one Morris dancer dances in circles around them.
Hence nothing gets done.
This was the same crowd that a few years ago when they had a damaged turtle bought to them which they then charged Kelly Tarltons to nurse back to health, once that was achieved they hired a plane flew it and several Doc representatives to Kaitaia , hires several cars picked up some Maori elders and drove to the North Cape where they said a prayer and Maori chants etc before releasing it, stayed the night in accommodation ( meals, taxis etc ) next day they all flew back to Auckland very pleased with themselves, when they could have boarded the ferry to Waiheke Is, stopped close to the Island and released it there, same outcome, turtle back in water and very happy at 1 100th of the cost. !!
No wonder they have run out of money.
This mumbo jumbo tribal crap has been going on for years. It's no wonder we are the laughing stock in other countries.
https://www.nzherald.co.nz/nz/taniwh...%20of%20Tainui
Let's hope no one sees a taniwha in the Karangahake Gorges Ohinemuri River!!!!
Has NTL received an invitation to the big fast track unveiling Party hosted by Jones.
It seems like everyone else has.
Gold in NZD terms approaching $4,000 per ounce!
Knock Knock (DOC),
Who's there?
NTL
NTL who?
Exactly
Gold in NZD now $4,040 per ounce.
Just incredible
More important is that truck has somewhere to go. I.e where will the concentrate be processed.
It's such a small quantity, its got to be worth the toll treaters while.
How much will they process at a time or will it be blended with the other miners ore and the grade estimated from samples.
Yeah, not sure DOC can be blamed for no news on processing options
Anyone else sick of seeing Substantial Holder Notice. Yes DOC is abysmally slow and has an ideologically driven staff member holding this up (prove me wrong) but anything please than Substantial Holder Notice
Don’t know if this means anything but NTL didn’t get the letter
https://www.beehive.govt.nz/release/...akeholder-list
The previous fast track work was on resource consents. This Bill covers approvals from a much wider set of legislation, including the Conservation Act.
https://www.legislation.govt.nz/bill...LMS943270.html
Anyone can apply using the Ministry for the Environment's form, not just those who got the letter. But the Bill needs to become an Act before anything really kicks off.
Bid up this morning.
Information leak?
I did a bit more analysis over the weekend & I have upped my forecast production to 3,500 toz p.a. at a guesstimate margin of production of NZD2,200 per toz. Generates $8M of free cash p.a.
Lots of assumptions and guestimates, the main two being they get DOC approval & have somewhere lined up to toll treat the concentrate.
As a comparison in quarter ending Dec 2023 Oceanagold at Waihi had:
1) Cash production costs NZD$/oz of $2282
2) Site ASIC (all in cost) was NZD$/oz of $3103
Average gold price at Waihi for the quarter was $3351 NZD$/oz
https://investors.oceanagold.com/202...ancial-Results
Gold price - ASIC is $3351 - 3103 = $248 profit per ounce at Waihi. $248* your 3500oz number = $868,000 profit. Ignoring the fact that NTL will have much higher production costs with factoring in tolling. As well as costs getting the mine running. Gold prices may well be a bit higher when NTL get running but Waihi is a useful comparison that you might want to look at to get an idea of what NTL might actually make.
I expect NTL's cost of production to be substantially lower than that. The concentration of ore to 60:1 before sending off for toll treatment should have a substantial impact on the cost of production.
The last estimate from the company was a cost of production of NZD1,500 per ounce, I have allowed for a reasonable increase on that.
If the margins were anything like you are comparing it to then there would be no point in the company pursuing production on such a small scale.
With an allegation like that, the onus of proof is on you
Agree. There is no evidence to continue to call our Government Departments useless.
We are just not aware of the facts with limited information being disclosed from both DOC and NTL management.
The shareholders don't even have any information regarding the processing strategy. What has the NTL management been doing over the last 6 months?
I would have thought John would have given the shareholders an update by now.
Jonu was dismissive of Delahunty's claims that the access road needed to be widened, as she put it poorly, comparing it to a motorway.
But perhaps there is more to gaining access than we are lead to believe?
As you say, either way it would be good know.
Getting information is like a trip to the dentist!
The imminent quarterly will need to show some news, as by last count, I think there is only enough funds to keep NTL going at current run-rate until the end of June. 31 Dec Cash circa 1.0m, whereas 30 Sept had circa 1.5m - cant remember if there were many one offs (Matty Hill matter??) in that 3 months, but 500k burn points to June = $0
Note half year report on NTL website for September 2023 still links back to September 2022 file.
Needing a miracle DOC signature soon!
But perhaps someone knows something, with NTL at a recent high of 2.3c!!!!
Likely a capital raising soon, either at 2 cents in the next few months or a lot higher if the approval comes through, but the current capital likely won't be enough with the unplanned delays and increases in expenses.
I'm not sure how they have accounted for the $300K placement with Terra Firma or how much of that has been used.
I think a considerable amount of the $272K of admin expenses from the last report was paying out Matt Hill, but I'm not sure of the timing. Board expenses are very low.
I ballpark mining cost of around $280k to get the first 6 ton shipment of concentrate away.
So yep a small cap raise maybe required in the next few months, but I don't think it would only be imminent if they are about to outlay production costs.
If that's the case, I would prefer a small debt facility.
What’s happened today ….yesterday it seemed that share price was heading to .024 but it’s falling
http://nzx-prod-s7fsd7f98s.s3-websit...147/417397.pdf
So the quarterly is attached. Good updates thanks NTL showing good work but unfortunately fairly predictable re DOC delays and the likelihood of another capital raise. At least DOC acknowledge their processing of a straight forward access approval (which is basically a renewal) is unacceptable and undertake to provide a decision in June, The processing route decision will go to the Board in the near future with the possible use of a modular plant. Whether this is a concentrator or full processor is unclear.
It's incredible DOC have taken a year to consider renewal for site access. Something more sinister going on? Someone trying to block it within DOC? I have no idea but imagine how long a full mining permit might take based on this...
The new Minister needs to get the department working in a much more efficient manner.
I really feel for John and the NTL team having done so much good work to potentially being shafted by DOC.
Cash on hand won't last much longer so 100% sure another raise is coming in some form.
Much more clarity in this report which is good to see.
I like the debt facility and it appears like the DOC approval is all but time.
Interesting that they couldn't come to terms on treatment of the concentrate. As mentioned, for many existing operations the small tonnage could be more hassle than its worth.
IMO I see despite DOC's best endeavours to to frustrate the approval process that the gold price has risen 35 % so thanks for the help and Im sure that with the pending possible C R it will be fully accepted.
What numbers/amount are shareholders picking for the capital raise requirements to carry them over until the cashflow covers outgoings?
That's all very well, but will the mine ever get operating, it's going to be another year.
With the debt facility in place I would hope NTL would only need to raise half that amount or less I.e $500k ish.
Effectively they have $1.2M of liquidity at the moment with the bank facility and that's not accounting for the $200K placement with Terra Firma which I'm not sure is accounted for.
Perhaps Terra Firma might be up for another $500k if they have the processing route sorted. But that's being optimistic.
So it's now a year since what was to be the final capital raise. We were also promised we would be mining and cashflow neutral by the end of 2023.
So what has actually been delivered in that time and how much money has been spent?
I just don't buy into DOC sitting on their hands for 12 months. Apparently the company raised this with Shane Jones last year & yet over 4 months later still no approval. Something doesn't sit right.
It was also disappointing to hear that the toll treatment option has fallen through, but apparently there are three other options. We just don't know how realistic those options are.
Personally I don't think the company should tap investors for more money or spend money on mining, even if they do get approval from DOC, until they have a confirmed way of treating the concentrate.
It sounds like there has been plenty of mining going on. To the point where the local Police (who they call their mates) told them to 'beef up' their own security.
Glass half full - things are close, and having Terra Firma effectively invested too means it promising
Glass half empty - Jonu (and previously Matt Hill) are the only people to get a return from NTL over previous years via salary.
Jonu has plenty of skin in the game though, given his number of shares.
Another CR will hurt, but it feels close - still a gamble, DYOR!
Unfortunately I see the outcome as binary.
The DOC access I think will be granted but that's pointless if they don't have somewhere to process the concentrate.
As I have mentioned before the tiny tonnage isn't worth most considering toll treatment.
If they are lucky they can find a plant that they can blend the concentrate in with an existing operations process. But then the estimate of contained gold becomes an issue and if I'm the toll treater then it's going to be a conservative estimate on the contained gold & recoveries.
But it's all about finding someone that is worthwhile for them doing the toll treatment.
Good luck to all.
Maybe DOC wants to see the business plan too. It would not be unreasonable for them to have to sign off on the earth and elements once they are out of the mine aswell.
Well govts DO actually get there. Glacial pace but NT govt has just signed off on helium deal. Obv not DOC situation but have take some heart from it.
Today NTL has applied for the fast track legislation to get things moving, well done, let it happen as it should.
Wonder what that says about likelihood of DOC approval under current process.
Not much I would say.
It's all very odd to me.
I hope the company is being fully transparent with its shareholders.
Not sure how NTL qualifies as 'significant' either.
If it was just a bureaucratic hold up, surely the the chat to Shane Jones or the Minister would have been enough.
I got out again a few days ago for a small profit.
It's dragged on for a year & the updates have been generally information light.
As I have said before.
What has NTL actually achieved in a year?
Far better places for my money.
Well nothing to lose by applying to be fast tracked, because if they wait till June and DOC decides otherwise then it'll be the plan anyway.
In their last activities announcement they said "Today DOC have advised that we can now expect a decision in June." There is also the potential that DOC delays there decision even though they have said they said June and drags it on, so either way applying for fast tracking is a good back up plan.
Regarding a processing site they say they will be presenting the board with an outcome in a few weeks "Unfortunately, we were not able to finalise a deal with our preferred processing site, but have identified three further promising alternatives. We are progressing discussion on these options and expect to be presenting those to the Board in the coming weeks."
If approval does come through then probably expect a capital raising in the range of $1.5m-$2m.
I think if they are going for a full mining permit rather than just bulk sampling then that's a significant development.
Anyway it will come out in the proverbial wash.
I broke one of my investment rules when buying into this stock & that is trust in the management and it was nagging me constantly. Anyway I'm out now & I hope it works out for everyone else.
I might look at a re-enter when they do the cap raise if there is more certainty around access and processing.
I suspect it will need to be around 1.8c again, but that will depend on how much certainty & what prospects look like, if far more positive then perhaps 2c.
Remember the last capital raise a year ago was the last hurrah. Into mining, cashflow neutral or positive by the end of 2023.
I wonder how the next capital raise will be worded?
I wonder if Mr Brown will stump up another $1m to try to get it there - he must have deep pockets
Has it been confirmed that this is going to happen ? If so, I understand that it would mean that a 1 tonne ute could take a tonne of concentrate to a refinery anywhere in NZ in about 24 hours. 1 tonne is 35,274 ounces. 65% of that is about 23,000 ounces which at todays price is valued at over $50 million. Now this all sounds too good to be true, but I can't see where I have gone wrong in my calculations. Any comments ?
Even if the percentage is
1 instead of 65, your exercise is useful.
It doesn't matter if the dollars are divided by 65, or the tonnage is multiplied by 65, it goes to show that existing traffic restrictions on NTL for the road, and 1 way bridge onto the main highway are no impediment.
There would be no justification for DOC or anyone else to suggest the road needs widening.
My wheelbarrow is ready.
Where are we at? I've been sunning myself on the beach at Nai Harn. Have we struck the gold stuff yet?
https://www.rnz.co.nz/news/national/...-starting-work
Very interesting!
This could be the answer to why the DOC consent is taking so long. Oceana not NTL but still DOC land in the Coromandal that is being impacted.
https://www.nzherald.co.nz/business/...MMO64E435IAXM/
Oops posted the wrong article.
John Upperton
NTL Director
This report in Inside Resources of Shane Jones' speech in Blackball today should be of interest to NTL shareholders.
Jones sets out minerals vision
Colin Williscroft - Thu, 23 May 2024
Resources Minister Shane Jones laid out his plans to double the export value of the minerals sector by 2035 at an event in Blackball this afternoon.
Minerals currently generate annual export earnings of $1 billion, $21 million in royalties and more than 5000 direct jobs.
Jones says the Government anticipates accelerating the sector's growth through existing minerals like gold and coking coal, but also new minerals important to clean energy technologies.
“My goal is for the sector to double its export value to $2 billion by 2035, provide more than 7000 direct jobs across regional New Zealand and support other sectors through the stable supply of essential minerals,” he says.
“This is not out of reach. The establishment of 10 significant mining operations, each having the potential to generate $100m per annum, can lead this growth pathway.”
Potential
To unlock that potential, mining needs to happen in the right place, in the right way and in partnership with tangata whenua and local communities, he says in notes for his speech.
At present, policy and regulatory settings don’t allow that.
Jones says New Zealand has long lacked clear policy direction on minerals extraction, making it harder to create enabling policies and creating investment uncertainty.
“This changes now.”
Strategy
He says the Government will develop a long-term strategic approach for minerals that sets clear policy direction, identifying the actions needed to secure and increase minerals supply and their potential for use and export to maximise economic and Crown benefit from the mineral estate.
As part of that, a Ministry of Business, Innovation and Employment draft minerals strategy to 2040 discussion document was released this afternoon.
The final strategy will include clarifying where mining can occur.
“Schedule 4 land is off the table under my watch – but not all conservation land is equal,” Jones says.
“I support sustainable and environmentally approved mining on stewardship land and other categories of DoC land. A major priority is to clarify access arrangements for mineral extraction.”
Regulatory barriers
He says to allow efficient mining development, red tape needs to be removed.
“The sector is impacted by the revolving list of regulatory barriers which currently exist, because we’ve never had a solid plan that we stick to.”
He says the length of time it takes to deliver mining projects is proving costly – in inflated costs, delays and in terms of New Zealand’s international reputation as a place for doing business.
Much of that relates to the state of the Resource Management Act, he says, but the country has also suffered from negative signals through changes to Crown minerals laws and unclear positions on conservation law.
“The past several decades have seen mining promoters sidelined or stigmatised. It is high time that the tables were turned and facts replaced tales of woe and exaggeration.
“We all want wealth and resilience. Trade-offs are necessary. Mitigation is the key to achieving balance.”
Consent pathways
Jones says the Government wants to enable major projects by improving decision-making timeframes and giving greater investment certainty, with well-designed projects having a clear and fast path to consent.
While the Fast-track Approvals Bill is already before Parliament, he says more work is needed across all the legislation and approvals required by miners when they are working outside the fast-track process.
“That doesn’t mean we can drop the ball on environmental protections, rehabilitation or our people – all these things need to coexist together.
“I want to see mining making a positive difference to our iwi and hapū across the country, enabling better access to cultural minerals, creating more jobs and ensuring long-term benefits flow to our community.”
Domestic resilience
Jones also wants to improve domestic resilience for the minerals the country needs.
“New Zealand has a wealth of mineral resources and I would rather we extract from our own backyard than be left with no choice but to import from places with lower environmental and employment standards.
He says domestic resilience will create more jobs and ensure minerals come with high environmental credentials.
“To do this, we first need to improve our understanding of what minerals we have, where they are and what we need.
“What are the minerals needs of New Zealand now and in the future, and are those supplies secure and affordable?”
He says the Government will develop a list of critical minerals for New Zealand to answer those questions.
“Developing actions to secure a better supply of these minerals will start in our own back yard. This Government will invest in geological modelling and resource potential mapping of our mineral resources so we can answer these questions.”
Supply chains
Another focus for Jones is to increase New Zealand’s contributions to global supply chains.
The International Energy Agency estimates that to reach net-zero emissions by 2050, the world will need six times more minerals for low- emission technology than are currently being extracted.
“I want New Zealand to be part of the solution.
“There is no energy transition without minerals - no batteries, no electric cars, no wind turbines and no solar panels.”
He says New Zealand has a choice to contribute to and benefit from this growing market, or to become the recipients of other people’s economic effort and output.
“The transition to a low-emissions economy provides us with an opportunity to trade our mineral reserves, but we need to act now.
“Our trade partners are asking us to contribute to secure, resilient, and sustainable global supply chains, because current supply chains are vulnerable to disruption.”
He says with the right direction and settings, mining will boost regional opportunities and jobs, increase New Zealand’s self sufficiency and be a critical part of an export-led focus “especially as we take advantage of the global opportunities for new minerals uses”.
Some good positive news from Jones.
Thanks for sharing John, I think you might be only one of two C'levels who communicate with us on Sharetrader. I think that what shareholders might be more interested in is how this affects NTL, like are you on the bandwagon and hit-list for government attention and fast tracking, or at least moving your NTL consents etc towards production?
DOC "decision" - its almost June - tick tock.
I see that Canadian listed Rua Gold got exploration approval from DOC to explore 4600ha of Coromandel bush.
What's the hold up here given that NTL is shovel ready.
What is this green arrow I see next to NTL?!?!!?
Ha, nice to see some consistent upwards price pressure, albeit on small volumes still.
Increased my holding today. Go you good thing.
Who gets Mat Hills former NTL exec, 100k fine money for his misleading contributions to Share trader.
From the horse's mouth so to speak but no mention of who gets the proceeds. My guess is the FMA?
https://www.fma.govt.nz/news/all-rel...00000-penalty/