Have to like how the NTL board's fast moves fixed the posturing Jabawokies on the Casino board over yonder
in one swift shot ;)
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Have to like how the NTL board's fast moves fixed the posturing Jabawokies on the Casino board over yonder
in one swift shot ;)
It's definitely good that they are going to give it a decent crack and see if there is a real fortune to be made.
And definitely good if the shareholders all participate.
I will be watching and learning. I like the real stuff, like how many 10 tonne truck loads of pay can be extracted and carted from the mine shaft each day?
That's not my experience in 15 years in the gold mining industry. 1% is a very low grade gold concentrate and typically refiners don't do dore they do pure gold bars. It's not to say there aren't any, but I do wonder if they meant smelter rather than refiner. Typically smelters are set up for copper / gold concentrates. One option could be blend NTLs concentrate with other ore, but trying to find someone to do that for such small quantities won't be easy.
As I said in an earlier post I wonder if the new plant will produce a much higher grade concentrate and that would be a real game changer as would probably give NTL more options.
Two very different propositions.
As I alluded to previously, one or two commenters gave a very good assessment of the recent ASX suspension issue. Others were way off and were extremely loose in their commentary regarding solvency and even erroneously naming Directors.
The continual reference to a 1% concentrate is curious.
Commenting is not something I want to be doing, but for goodness sake folks, take what you read on here with a grain of salt.
John Upperton
NTL Director
Wow. Have I read that right. The market disclosure re the cap raise is asking all shareholders to double down. You don't see that very often.
Am I missing something here?
So now we have a poster declaring it wasn't 1% concentrate, but 3%....based on an ounce a tonne of something.
Mystery vein has chip sampled at something close to an ounce of gold per tonne....averaging over 30g/t.
Someone seems to be conflating the two and coming up with 3%?
It's a Mystery!
As I said....take what you read on here from anonymous posters with a grain of salt.
John Upperton
NTL Director
Great when are you mining the mystery vein?
How much gold is there?
Chip sampled, wow there's something to bank. 🙄
Does the vein carry on? For 5M ? 10M? 100M or perhaps it just stops?
In which direction does it continue?
Seriously, act like a director of a company and be very careful what you say,.
As a shareholder you can get away with spruiking, not as a director.
So instead of it being a mystery....
How about in the forthcoming capital raise documentation the company decides to provide a line by line itemisation, and forecasted costing, of every single requirement remaining to complete what is being suggested.!
In the alternative if that is unknowable or unforecastable to a degree of certainty then take it private.
30 years of cap raise's based on forecasts, promises, indications, possibles, potentials and aged inferred resources.
Take it private, 2 cents a share will do it.
Come back to market once its up and running and printing money like many of the believers on here passionately protest it will and cap raise for growth capital to expand at that time.
30 years...!! NO GOLD produced and sold!!
I don't know what others think but I'm leaning towards your commentary, conjecture, flippancy and lack of research or reading being unhelpful.
At this important juncture for NTL, I would prefer to see people come together, analyse what has been published and what is known, rather than speculate on ill-informed potential outcomes.
By all means, debate the interpretations, that is the luxury we have here. But be informed before entering the debate, there is no place now for ill-informed conjecture, mis-information, or flippancy, the window for investing decisions is closing and we would all be best to be fully informed enough to have our own views as to whether this is a place to put our money.
It's been a very long time and a lot of $ to get here, it is what the future holds now, not the past. Investors should only be interested in the future, and the risks, and whether that is worth their investment, now.
There's no doubt that there are risks with this venture, as there are with any mineral explorer, but it looks like you haven't actually researched this company or its prospects in any detail? Making statements that are inconsistent and frequently incorrect. As are others, so you are not alone.
Now you're winding up a Director and casting doubt on what has been published, but it's not clear from your statements now or in the past whether you've actually read anything, or any of it in detail.
Have you read the JORC? The assay's? The mine maps? The plan to production? The projections and assumptions? Anything? You seem to have joined the detractors making statements that all too often are quickly rebutted just by having read the announcements. Even your own recent argument shifts around, 1%, then 3%, like have you actually run the numbers yourself?
It's no wonder the Director gets a bit frustrated, but it's not just you, there is a lot of ill-informed off the cuff statements and opinions thrown around here that with just a modicum of reading and research are easily debunked.
This is not X.com soundbites from the ill-informed, this is a discussion group with unlimited space to talk it through. Informed discussion might be welcomed by other members here, whereas soundbites are probably not, especially if they are incorrect.
It should not be other posters or the Director who graciously posts here from time to time, who have to correct all this incorrect conjecture and mis information.
It is also not clear what motivates you or others (once bitten?) to be so skeptical when of all people, with your stated apparent experience, would know how to crunch the info and the numbers and draw an informed opinion, on whether this is investable. You probably do have a lot to contribute to our small community, but you choose to remain uninformed and snipe around the fringes. It's not clear why you continue to do this.
In any event, the CR terms are on the table. History will all be consigned to memory soon and whether or not the company raises the capital to continue their exploration into production remains to be seen.
Will the offer be underwritten, and by whom. It's a big ask when expecting loyal shareholders to top up by 100 percent in the current economic environment.
I don't know if it's underwritten, but I do agree it's optimistic targeting only existing shareholders who have taken a 23+ year hiding on their invested capital. I would have thought an open CR to any new and currently not invested investors might have a better chance of raising capital than achieving a 1:1 with current investors.
Buddy, I warned people off this company around 8 years ago.
The one toz per ton was discussed at length on this forum not long ago and as I said recently who knows what they will produce now as it's not the same underground method of processing the company were claiming to be going to use only a few months ago.
The point is nobody knows and nobody knows a lot of things, herein lies the problem.
I am probably one of the few who have actually made money out of NTL, although admittedly a small return, so no not once bitten.
The last CR was the final CR, ring any bells?
No plant purchae back then mentioned.
Anyhoo double down at your own risk obviously.
If fulfilled the market cap will basically double.
I suspect the 1:1 strategy is based on major shareholders committing and whoever else does, at least they will go in big, I.e double so they are looking for large amounts from those willing to gamble.
The directors get frustrated? Really?
Join the club.
Spruiking is not correcting and Jonu spruiked the hell out of this company for years.
You mention a plan to production. Which one?
It changes regularly.
The last CR had a plan to.
Do you know how much they will mine?
The cost of production?
The grade of the concentrate from the new plant?
The recoveries from the new plant?
The cost of the new plant?
Who will take the concentrate and smelt to dore?
Hopefully the CR document will outline some of these things in detail but there are many questions they simply can't answer.
NTL has made a couple of announcements recently, contingent on "A Successful Capital Raise".
https://api.nzx.com/public/announcem...968-420938.pdf
I have not seen stated anywhere what "Successful" is defined as. To me that's a worry.
Another note, the processing plant they've signed on for is marked to be set up on the offsite location Terra Firma is preparing for NTL. The plant has a 100 tonnes per day capacity.
Wasn't the whole idea to process concentrate underground to avoid bulk materials being transported over the road?
Hmmm, last comment a little marginal although you make some good points elsewhere. Let's see where this goes. I do agree looking beyond current shareholders would have been a good idea. Who knows, perhaps it's gone on behind the scenes.
Punters should feel good about the future ….especially as Jonu probably throwing another $183,000 plus into the kitty
I was expecting to see a refreshed plan, details on what the money will be used for, cost of the plant, when they will produce their first concentrate, what they expect from the plant in regards recoveries and what is the concentrate I.e 60:1 or better perhaps?
And that they have a smelter in place to take the concentrate and convert to dore.
Have I missed a document saying why & what they need the money for?
Last time it was less than 1/3rd this amount to get into production.
Is there another document to come at least covering some of this?
Or is this just a matter of, trust us and double down.
At the risk of spoon feeding those with 15 years experience in these matters....yes there are more documents to come. An actual read of yesterday's exchange announcements makes that clear. It's the way a Rights Issue works.
It looks like we missed out on Toddy's involvement. Good luck with IFT...I doubt you'll need luck, must be getting close to Blue Chip status aren't they?
Have fun in the sand pit folks. I'll try and remain quiet, but maybe folks might have a look back over the last few pages and draw some conclusions about the weight they should place on some of the opinions expressed on here.
John Upperton
NTL Director
Consider that existing and past shareholders have put in $31M over many years for no interim reward to get to a market cap of $6.8M @2c.
Obviously there has been churn in the share registry along the way.
Supposedly NTL is closer than ever to extracting commercial gold.
So it could be said the long and loyal shareholders/risk takers get precedent now, rather than Johnny come lately carpet baggers diluting out those who have endured thus far.
Whether they all rise to the occasion remains to be seen.
Excellent, I look forward to seeing it.
I suggest spoon feeding all shareholders wouldn't be a bad idea, but more importantly can the information be relied on and delivered on.
As the CR 15 months ago promised a lot including being the last CR... etc. and yet we are here, looking to raise 3 times that much.
Because of the mountain of s!uff ups that the previous fish heads have created IMHO I think that as part of the pending C R that a very detailed and accurate business plan needs to be submitted to all S Hers laying out exactly where any and all funds are to be applied and what we can expect in the way of achievements/mile stones, financials, returns and dividends.
About as much rhetoric in this thread as a 2024 US presidential debate and like the US debates at least its got entertainment factor. Hope it works out for the NTL team - a lot spent getting it to this stage (even just paying previous persons who were essentially only keeping the company treading water) but would be good to see a listed working mine on the NZX.
Financial returns will be difficult or impossible to estimate as a lot depends on grade and I assume that they haven't trialed the new plant.
But a general statement of when they will be cashflow positive like the last CR would be good.
The rest, yes they need to outline in detail.
Other than the list I have already outlined, a confirmation that no more consents are required to mine and or operate the plant.
Their statements need to be clear and concise and not have the ambiguity of past announcements.
I speculate, prior to the CR proposal being drawn up, directors, top twenties and a few others had a discussion along the lines of;
"Righto boys, it's been a tough journey but we're on the home straight now.
We need a few more dollars to get to the finishing line.
Who's in and who's out"?
The consensus was Aye Aye!
TOP 20 ORDINARY SHAREHOLDERS as of 4 June 2024
Rank Name Units % of Units
1. HAMISH EDWARD ELLIOT BROWN 91,500,000 19.98
2. NEW ZEALAND DEPOSITORY NOMINEE LIMITED <A/C 1 CASH ACCOUNT> 35,569,301 7.77
3. BEVERLEY IDA EVANS 18,100,000 3.95
4. DAVID LYELL COLE 18,000,000 3.93
5. COROMANDEL GOLD LIMITED 11,290,432 2.47
6. JOHN KILDARE UPPERTON 10,188,333 2.22
7. SHARESIES AUSTRALIA NOMINEE PTY LIMITED 7,411,909 1.62
8. ALLAN MICHAEL NOBILO + LYNNE NOBILO 5,700,000 1.24
9. TERRA FIRMA MINING LIMITED 5,385,523 1.18
10. PETER KENNETH HEWER 4,014,686 0.88
Where the big money will hopefully flow from.
I was picking 1.8c, seems about right.
As the top 10 shareholders own about 45% of the company, if they all stump up, there's roughly $4M.
I am curious though re Brown, as he is sitting just below the 20% threshold so he may only be up for a pro-rata of what they raise to maintain that equity level. I.e if they manage to raise 70% he will only take up 70% etc. Purely conjecture, but I think its interesting.
Sadly hotcopper is a 3 headed conversation from one person at the moment. (Remind you of anyone?) HC admin are extremely lax in their standards and don't appear to be as tech savvy as sharetrader's Vince.
Stockcomment, PVoz and Johnnycomelately on HC are the same person we all know and deeply miss imho. All 3 are quoting out of context, misrepresenting basic information and taunting me to engage. It's the old story about wrestling with pigs from my point of view. And yes, I have further reason than is obvious on the HC website for my opinion as to who the 3 people really are.
John Upperton
NTL Director
I just took a look at Hot Copper and the very recent comments by Stockcomment & Johnnycomelately. Nothing I could see there that was untoward but I only looked at recent comments and there was one that appeared deleted that I couldn't see. Hey but I'm neutral.
Perhaps there are other comments that are further back that are untoward but in the recent comments they raise very valid points. Admittedly they mirror many of my own.
Just an FYI I haven't commented on Hot Copper regarding NTL in recent years & if I ever have it may have been 8 years ago or so.
Shane Jones is really getting his teeth into this mining lurk from what I can see and hear ( given that I live in Asia )
Several of them are mine, and they are being reported by Matt because the guy doesn't like been called out, they even deleted some from last year, not HCs fault, some of the things I have said are pretty farcical, such as pretending to be other people on online forums, and it's easy to report that as untruthful.
I'm not so petty to report his mistruths, but I see someone has had a few of his deleted too.
Matty still smarting from his FMA fine I guess.
Doc says - "We now seek your support to raise the minimum of approximately NZ$2m of funds needed to finally bring Talisman into production".
But trying to raise $8m - good idea to get some buffer in there.
Im going for it, 100% in, noting Im not Top 20, but getting closer.
Well done Jonu!
That's better dislosure. The shareholders just need to get behind them and have a real dig.
Success won't happen overnight though, but atleast by Xmas everyone will know if there is a viable business and a large pot of gold in those hills.
Working Capital
NTL is seeking working capital of approximately NZ$2 million to fund our final push to production, covering:
• Final inspection and purchase of processing plant. ($360k)
• Shipping plant to New Zealand, transport to site and installation.($200k)
• 3 months operating and Stockpiling of ore while awaiting plant installation.($825k)
• Preparation and leasing of processing site. ($50k)
• Transport of ore to processing site daily.
• Engaging Terra Firma processing operations team to process Talisman ore.
• Fees for metallurgical and other experts required to support our path to production.($50k)
• Annual fees to DOC, plus Insurance and bond requirements. ($65k)
• Fees and expenses related to regulatory compliance (DOC, NZPAM, Worksafe etc
With the latest and some would say the LAST C Ring is there any opportunity for us to have an EGM so that we the S Hers can get all concerns out there and satisfactory answers received to us ?
Agree. Being realistic with $2m minimum ought now to be easily achievable and not risking a significant shortfall which is the worry for smaller investors chipping in. It's good to read all regulatory approvals are achieved so I take it (but please advise if incorrect Board) we can assume the traffic management for carting the ore from the mine and processor approvals are in place.
I find it odd that they say they only need a minimum of $2M when looking to raise as much $8M+ if it's all taken up. I can understand having a buffer, but having a buffer 3 times the size of the minimum?
I could speculate why that is, but I'll just get lambasted for saying so.
The cost of the 2nd hand plant seems very cheap, let's hope it's in good enough condition.
Pleased to see they are talking about smelters rather than refiners for the concentrate. I didn't see what the concentration would be from the 2nd hand plant, I.e underground processing was going to be 60:1, I assume with this external plant it will be better than that.
A good reason for extra capital will be for more exploration and working capital because they've budgeted for a 3 month delay for the ores before they can processed, but probably another couple more months before it officially gets sold and they get the money, so really need extra.
I haven't invested yet. I will do at some stage for a bit of interest.
It's best to wait though to see how the capital raise goes and the progress on getting the mining operation underway.
I think both of these events will lead to a better sp entry price.
Thats what I'm thinking. The market will be flooded with stock and there will be a significant period and dollars spent pre production.
Then I expect even more time once the dirt has been run before the Company announces income results.
With the flood of new script plus the time wait, then yes I would be surprised not to see the sp under pressure.
IMHO - if the CR is successful (hopefully north of $4m), then I think up is the way it will head, when/if it gets in the media that its in production, then we should see new investors with a touch of gold fever.
Anyway, best wishes to all, closer than ever.
Makes sense unless the gold price explodes, the news is now out, what really will they offer in regards news in the next 3 months?
Confirmation that plant is in good condition to purchase or not.
Perhaps an outlet for their concentrate, but we don't know what the grade of the concentrate.
Mostly what will be happening is spending money.
Nobody knows what the cost of production will be, what the grade will be.
Hopefully it's 30gtp as mining small quantities is typically expensive per ton.
Realistically how long do people think it will be before there is any cash generation?
Yeah, maybe because my knowledge on the subject comes from reality TV, like Dave Turin's Lost Mines, I have preconceived risks in my head.
Are they over stated or understated.
I will leave it upto the mining experts. However I've been around the block a few times with cap raises flooding the market when asking for money from the 'same' shareholders over and over.
Some of the recent posts have me pondering the question -
Which is a better use of your investment?
If you buy on-market, you may be able to score more shares for your dollar if you time it right, but your money has no effect on the likelihood of a successful outcome,
“A larger piece of a smaller pie”
Or do you buy directly from the company in a capital raise, where your dollars then literally improve the chances of (your) company crossing the threshold into viability and profit, with the resulting return on investment.
Not a criticism of any individual approach, do what’s right for you!
To ensure that the cap raise is successful then investors need to also buy off the market to keep the share price above the share issue price.
It's starting to look like the cap raise offer price has been priced incorrectly. I. E too ambitious.
Only time will tell.
Why do you say that? It is normal for the market SP to drop towards the offer price as holders will buy through the raise to avoid commission and as a holder why pay any more? Mining shares are speculative. One needs to be able to roll with the downside risk in order to potentially make a mint. If you can't afford a loss then best to stay clear.
Rights Trading begins today I believe, but my broker [Jardens] shows no trades, nor any buyer or seller depth. I would have thought there would be at least some offers to either buy or sell Rights. Can anybody shed some light on this? Is anybody aware of any trades?
NTLRG up and running but no depth yet
Suppose brokers will catch on
ASB allows you to place order
Hi PIB.
The Rights Offer timetable is for entitlement notifications from tomorrow (11th). Why the rights trading date is the way it is, 2 days earlier, is a quirk of the listing rules as far as I can tell. The record date is today.
John Upperton
NTL Director
I think it's different for those with no position or baggage to those who may come in later once the dust has settled.
Those who have a stake probably heavily out of the money need to back it to have a chance of getting their money back or better, or potentially worse just to be balanced.
The plant is key, hopefully it's in 'working' condition otherwise they are back to finding something else.
With the concentration of Shareholding in the top 10 it's pretty likely they will have a successful capital raising I.e raise at least the $2M and I suspect possibly double that amount.
Good luck to all, like Toddy I will continue to monitor.
Sharesies should be on top of it soon, I have a ticket open with them, my understanding is the rights will appear in our sharesies portfolio and give us ability to apply for them or trade them.
the latest reply from the ticket 6pm last night:
Thanks for reaching out! The team will be in touch with more detail about this once we've received the info we need
John,
As you do read these comments is there any chance of having an EGM, IMO one is necessary because of the uncertainity regarding all of the required conditions necessary to get ore out of the ground ?.
From postershere there may be too many unanswered questions that need attention.
I'm very worried about NTL as I believe they may be well aligned for failure.
Our #1 shareholder can't put any more money into NTL, until they have raised $3M without him.
The remaining $750k of his convertible note, which NLT already have already burned thru, will have to be allotted towards new shares bringing him back up to 20% ownership, right?
http://nzx-prod-s7fsd7f98s.s3-websit...861/413505.pdf
The amount payable for the shares will be NZ$276,375 (being 15% discount on the 20 day VWAP of NTL shares as per the terms of the Note). A full conversion of the Note to ordinary shares would contravene the New Zealand Takeovers Code threshold of 20% of NTL’s total issued share capital.
Well he could if shareholders vote to allow him to. That would require a resolution, but happens often enough.
He can however participate in the rights if he wants to, just up to the threshold. Ie if 40% of shareholders take up rights, he could take up to 40% of his and maintain proportionality.
I’ve been invested with NTL for over 10 year’s now, during which there have been a couple of highlights and many long lows. Then 6 years ago after the labour government came to power the options for NTL became very dull to say the least. Shane Jones has signalled a favourable change in tune from the government.
My understanding is that NTL only needs between 20-25% of shareholders to take this up to achieve the $2,000,000 desired. Please correct me if I’m incorrect on my math.
I don’t really want to comment any more money into this but see that if it’s not now then it will be never. I feel the long wait finally has a chance to go ahead and really don’t want someone else to jump in and profit from all the time and patience we have had with the mine. So I will be taking up the offer to at least 2/3 of my rights (or what I can afford) to see the mine come into production finally.
If it had been with the old board I wouldn’t have.
Look forward to you comments.
This might help. Seems a resolution needs to be approved by shareholders and the party associated can't vote on the matter.
Seeing that hasn't been put forward the assumption is he won't be able to increase his stake in percentage terms.
https://chapmantripp.com/trends-insi...dely%20defined
I've been in for +/-15 years. During those years, I've bought a few & sold a few shares many times & participated in SOME of the CR's.
During the last 1.8 CR, I purchased double my allotment. I sold all of those shares on market about a month ago @ 2.4, to bank a bit of a profit & get ready for the upcoming CR. I reckoned I'd be able to buy more share for the same amount of money & it will also help the company coffers. That's worked out well.
This time I'm considering putting some further new cash in & buying three times my allotment.
It sounds good when I say it like that. What I haven't said is that my base holding I've always held on too are mostly $.035 shares from a CR (when they got their bulk sampling permit) prior to consolidation which have now become $0.35 shares. I don't think I'll ever get that back for them, but I do stand a chance to recover the cost of them by some timely trading in the interim.
I won't part with those now $0.35 shares until I exit entirely for good. I want them to remain as a harsh reminder not to get too carried away with gold fever ever again with HGD/NTL.
He won't be able to correct, as there has not been a resolution. However if for example further down the track the company wanted to convert the convertible notes to equity, this would have to be approved by special resolution in which he would not be able to vote. However post this, he would be able to vote his shares in resolutions.
What does Jarden Direct know that we don't. They have the NTL market cap at double the NZX at 17.41 mil.