Well done FMA one of many over the years imho.
Printable View
Well done FMA one of many over the years imho.
Bet that hurt Matty.
I miss your late night drunken ramblings to me.
Good things come to those who wait!!! 2024 shaping up nicely
1. Matty Hill gets his
2. DOC sign off potentially in June
3. Will we see gold too? - cash flow neutral or maybe even positive
I may just have to dip my toe in a little more.
Certainly a happy start to the day reading this - I wonder if we will see Angry Matt post again. While we shouldnt focus on the negative, we should highlight the good work done by the moderator here, and potentially change name of the thread for a week "Matty Hill gets the bash"
Add his legal fees over the last (almost) 4 years. I reckon his actual cost would be about double what his fine was.
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 :)
I'm a bit confused. TFM is provide the land, but do they have it already? It says there is 'clarity on the site to be used for processing'' so I suppose it exists.
With the line 'TFM to process Talisman ore' I guess this mean TFM will be responsible for sorting consents to use the land, if it exists, for processing.
It's just more smoke and mirrors in my opinion.
How can anyone in their right mind have money tied up in a company like this that never seems to provide clarity.
This is copied from a poster on another site. It was in response to the "Terra Firma Heads Of Agreement".
"""" i knew i had seen this story before, they announced the basically the same thing in 2019
Following the identification of the initial site for the pilot plant and application for resource consent in February 2019, the company’s mining contractor Terra Firma Mining Limited offered use of its industrial site for the purpose of operating the plant. Due to the Terra Firma owned site location and other security and logistical benefits NTL approved the proposal.
Terra Firma milking NTL since 2019 at least.
The board should remember its NTL shareholders not Terra Firma (or Mr 19% p.a.) that need to see a return... """
dubya, the quote you reference presumably pertained to the pilot plant and a decision made by the previous Board. Why this in any way should be used to infer Terra Firma is "milking" NTL is highly unfair and unwarranted. You might also consider who the likely poster on HC really is.
I have to be extremely careful in my interactions on this thread, but need to remind you that the current Board has all been elected within the last 2 years with strong shareholder support. It is no secret we have been greatly delayed by DoC, we have relayed that to the market and made our frustrations known to the department and the new Ministers. I don't know whether you are a current shareholder, or a disgruntled former holder from the time of the previous Board, but anyone who has followed NTL since the change in 2021 will be aware of this.
Oh, and BTW, Mr "19%" put up an unsecured 300k loan facility to support short-term cashflow for the company. I can't think of another instance of a Director showing such confidence in a company. I have found it extraordinary that people have viewed that negatively.
Thanks to all holders for the support.
John Upperton
NTL Director
Upvote jonu
Downvote dubya
" I can't think of another instance of a Director showing such confidence in a company. I have found it extraordinary that people have viewed that negatively."
My thoughts as well.
It's good they got the $300k.
It's not good they needed it.
We are in June, so apparently this month there will be a CR this month to pay it back plus fund the plant & mining operations until they get some casflow.
But thats if & its a big if they get the major obstacles over the line that Shareholders have been waiting 15 months for.
What are the odds that the company has these obstacles resolved in the next four weeks?
Not sure there was any option otherwise.
Can't raise money, can't get money from a bank & they are out of money. My only surprise is he went unsecured.
I think that's a good name for the company going forward.
New Hope.
Anyway good luck to all.
Apparently you will know everything within 4 weeks.
Flipped off all my .018 shares (including oversubscription) purchased in the last CR on Friday for .024. Happy to bank a nice little profit on them.
Still holding my original (very red) shares for the future. Got to have some in the portfolio to qualify for the next CR if it looks tempting.
Since our top shareholder already has about 20% of the company, won't that severely hamper him from taking part in any further in CR's?
I suppose he could only acquire up to 20% of any new shares, but how could he know how many to subscribe for?
How hard is efficient ore processing? Has Terra Firma done this before, have the staff and infrastructure to handle it? A step forward for sure, but toll processing would have avoided upfront costs - guess it just wasnt possible.
Just waiting on news that they have pulled s*it out of the ground and its ready for processing. That'll be enough to kick the SP in the arse northwards.
*cracks another Beer Leo*
Yeah but that news alone, of progress, be it a little should cause a bit of excitement.
1/3 of the way through June - DOC sign-off due this month. Good time to do a CR.
After playing this thing for close to 20yrs, Im in - still a gamble, but worth a crack. What happens to SP over next few weeks, and where the CR gets placed will be interesting.
Historically, CR has been at a discount to the average trades over previous month - given that we have seen elevated prices recently, Im picking they may try to issue at $0.020 - then how much do they need to buy the kit and get the infrastructure set for Terra Firma to produce the good stuff.
We may finally see/hear some forecasts.
Cashflow positive is just around the corner, especially if the CR is successful.
NTL is at critical juncture.
There has been promise made that some pretty significant hurdles to be overcome in a matter of weeks that shareholders have been waiting over a year for.
Without these hurdles being ticked of can they actually raise money for the same purpose they raised money a year ago?
They raised $1.7M plus the $300K to Terra Firma inlieu of future payments for work.
Seems to be a big burn rate considering how little they have achieved.
At the end of March they had $592K of cash, so it's a bit surprising only two months later they needed to tap a Director for $300K especially considering they have instructed Terra Firma to halt further work.
Maybe the $300K is partly to pay whoever ot is to do the CR, as the fees are usually substantial.
So what if only some or none of those are achieved in the next three weeks?
Remember they have promised to have access & a treatment option for the concentrate before raising further capital, which to be honest is only reasonable considering the last CR was supposed to fund all that through to being cashflow neutral or positive six months ago.
How long is a $300K loan going to last?
How much the processing plant will cost (for TFM to operate) is unknown to shareholders.
How long to decide on what unit they want, then ship it, install it, and test it - how long?? How much?
Mutter mutter ..are we there yet
When discussing the DOC situation with a fellow S Her, he said that everytime that a decission maker working for DOC leaves and an new employee comes on board he/she starts the whole process again/at the beginning and not where the predecessor left off.
This is one reason why the consent process is taking soooooooo long, imo if this is correct its a contrived process at the behest of the greenies who apply for jobs in this particular DOC dept.
DOC are not on the clock here. Because they promised to have a decision, does not mean that it will necessarily happen.
Shane may have his staff working on bigger projects.
Some good news from Samantha
http://nzx-prod-s7fsd7f98s.s3-websit...968/420938.pdf
Atleast shareholders now know that the Capital Raise is going to be concluded within the next 60 days.
Another step forward. If DOC do come to the party, then I would expect the CR to go well - depending on where they pitch it, and for how much they are seeking.
Go Jonu go!
I think the mention of refiners producing dore from the concentrate is interesting.
It means rough mixed gold... google it l wonder what the CR price will be? .02?
Dore is what some mines produce to send off to the refiner. Typically the ore is treated to produce a low grade gold alloy bar, what I was used to seeing was about 65% plus gold.
That's then sent off to a refiner to smelter into 99.99% or 24 carat gold bars.
That's why I find it interesting that a refiner is referenced. Refiners in Asia do take concentrate, but typically it's a lot higher grade than 1% from my experience.
This is quite an interesting article. As I thought, typically concentrates of this nature are copper / gold concentrates which most smelters are set up for.
https://www.ausimm.com/bulletin/bull...marketing-101/
Any thoughts on what dollars are sufficient to cover capital expenditure and operating costs. That is, capital raise expectations?
Positive news for sure but where is the processing site? If not at the mine then 100 tonnes cartage a day along the access road is potentially problematic. No doubt Jonu has this covered?
I find it interesting that in the last capital raise that was supposed to get the company mining by the end of 2023 that there was no mention of buying a plant.
Have a look back at what was promised then.
406663-388496.pdf (nzx.com)
Grooooaaaaaan..:t_down:
Quarterlies come out end of 1st month following end of period, so likely to see end of July. I think we will know more sooner than that, as CR (IMHO) will happen as soon as they get (assumption is the...) DOC sign-off - use the positive energy of progress to get us in a gold fever frenzy. Historically CR been at a discount to the VWAP for the previous month (off the top of my head), and we been bubbling along at low to mid 2c for a few weeks - so my guess if they will try to get it done at 2c. Likely with a promise of final CR - ha, no one ever knows the future.
Big change is having to buy the plant, I always understood that 3rd party was desired route, in which no up front cost, just pay for processing. Now, buy it, install it, run it, maintain it.
DISCL: I have sold down a little to allow myself to participate in the CR - assuming all looks good.
Will be interesting if they offer options for future share purchase as I recall they have done in past .....
Have a good feeling about NTL..finally. :t_up:
From the quarterly released in April
"Today DOC have advised that we can now expect a decision in June" - expect, but not promised. Tick Tock DOC.
And just like that....
"New Talisman Gold mines Limited is pleased to announce it has today renewed its Long-Term Access Arrangements (AA) with the Department of Conservation for the Talisman Mine. The AA term of 5 years is a material improvement on recent renewals, which were limited to periods of less than a year. Renewing this AA is a key milestone for NTL and provides the certainty to allow NTL to fully progress its operations, Mine Work Plan and Strategic Plan as intended. As signalled in previous market releases, this is the final hurdle in allowing NTL to progress Talisman mine to production. Given the year long delay in achieving this approval – and the impact on our original production and revenue timetable – we will now have to raise further funds before we are able to execute our strategic plan. The good news is that we now have all the key elements in place to achieve production, including: • Access Arrangements for Talisman Mine • An experienced and reputable mine operator (Terra Firma Mining Ltd) • Conditional agreement on a processing plant • Conditional agreement on a processing site We expect to open our Capital Raise in July and look forward to Shareholders’ support as NTL finally realises the potential of Talisman and work constructively with the Department and all stakeholders to provide a model template for operating within the DOC estate "
ha - DOC were listening to me - freaky!
So its all go - with only the CR keeping a cap on the current SP.
This has been a long long road - great work Jonu and team - time to crack a beer!
Let the mining begin... after many long years
It's good news obviously, but how can they say with any integrity that they "now have all the key elements in place to achieve production" without confirmation of a party that can treat their concentrate?
With the purchase of a processing plant that wasn't in the original plan, does this change the output to a concentrate to one that is more widely accepted? I.e higher grade than the proposed 1%?
Hopefully this can be outlined in the CR document.
Markets happy. Bids at 0.026. Edit..make that 0.027
Someone just off loaded 400,000 shares, Im picking that they hope to use this for the up coming C R
You could make the question a lot clearer and then hopefully Jonu could chime in and clarify:
On hotcopper they are saying DoC need to issue both the Long-Term Access Arrangement, and Authority to Enter and Operate (AoE)
This announcement mentions the Long-Term Access Arrangement
It does not mention Authority to Enter and Operate
Jonu - is anything more required from DoC (e.g. AoE) ?
I had a look and wonder if the HC poster "Stockcomment" may be a disgruntled ex NTL employye (Mr Hill). They have only posted 68 times on HC and are spending alot of effort having something negative to say on every NTL announcement.
For me I will take the following statement at face value from todays annoncemen, "t this is the final hurdle in allowing NTL to progress
Talisman mine to production"
[QUOTE=Chippie;1058197]I had a look and wonder if the HC poster "Stockcomment" may be a disgruntled ex NTL employye (Mr Hill). They have only posted 68 times on HC and are spending alot of effort having something negative to say on every NTL announcement.
I just noticed 6 of 7 comments made on the loan facility thread were from Stockcomment of which 3 were moderated/ removed. So he is spending alot of time writing to himself.
Seems to have a bit to say on a large fee on an Aspermont CR / Placement in May 2021.
The sort of topic that one could expect from a Merchant Banker type and/or mate given a nudge ;)
The postings appear to be on 3 listed companies, incl NTL with one further (1 post) since first on 2.3.21
Matty Hill - if you are watching... please have a nice day.
With the excitement of the DOC announcement then now is the time to get the maximum out of the shareholders with a cap raise. My uneducated guess is $5m.
Re the license debate. People have short memories. 5 years is definitely not going to give the certainty required when mining in this area. A change in Government back to the left would see alot of capital at risk.
For the long term benefit of shareholders and for this venture to provide a decent return on investment, then the paperwork needs to be first class.