Yes better to dig it up and sell it offshore at those prices.
Someone is keen to keep closing price down with a 15,000 trade @ 0.8 right on 5:00:11pm ($120)
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Doh, they rejected my sell at 6.9cents. I was so confident too :p
From the AGM meeting agenda, Mathew Hill and James Mckee taking up 10 million shares each at 0.07, which is them taking up the shortfall from the spp.
Management putting their money where their mouth is. Now that's what I call confidence in what they are doing. As at 14 August M Hill had only 2.6 million shares, so this isn't just a bookwork tidyup, this is them jumping in now!
Still waiting on that investor announcement. Even if you classed the 45 days as purely 45 working days ......They should be up by now surely.
The Chinese are very interested in Gold at the right price, which is why they have been increasing their holdings. They want to strengthen the credibility of their currency (Yuan = Renminbi) ahead of their bid next month to join the very exclusive Special Drawing Rights (SDR = global currency) club within the IMF. With a smidgen of Govt backing they could easily invest in NTL. If the earlier Chinese investors have vanished into thin air there'll be a thousand more not far away from this little gem.
Discl: holding, and looking to buy more.
Anyone going to the AGM today...?
It would obviously be great to get an update on the Chinese investor situation and if that is not forthcoming, maybe someone could ask them exactly when the 45 days are up... By my calculations 45 days from 1 July came and went on August 15 and 45 working days was early September.... Anyway, as I have stated before I do feel a sense of deja vue here, so am not really expecting anything positive... Then again, you never know....
Seems like someone did, and just sold down at 0.8
They are running out of cash and have hinted at another capital raising. See the chairman's address released today.
I went to the AGM after being greeted by the placard wavers. The Chinese were later discussed and basically the discussions are still taking place but the negotiations are difficult. I thought the presentations were every good from Wayne Chowles on the valuable resource now available with the old historic working drawings - much painstaking detail of the gold concentrations removed and extent of the underground workings which evidently align very well with the workings now being resurveyed. Also Ian Pringle gave us an upbeat on the recent exploration results from BPL (which NTL has 18%). They was quite a lot of discussion on the synergy potentially available with Oceania when they conclude the purchase of the Newmont mine in Waihi and the possible JV with Newcrest on the Rahu saddle. The bulk sampling is getting close but another $1.5 million is really needed to set it up properly and maximise production efficiency. I came away past the last placard waver content NTL is in very good hands and the rewards will eventually come.
Yes I was there and the one who asked about the Chinese investor. You have painted [PUN] it about right Paint it Black from what I took out of the meeting. I was also the first investor to arrive,[the further you are the sooner you arrive at a meeting] and had a pre run of things to come. Of interest to me is what happened to the 400,000 dollar investor. It appears that that investor took on a commentment to deliver on his promise and from the company It seems it is a legal responsibility to complete. Apparently this investor says he or she will but as yet no money has been forthcoming.
Another point brought up was that the falling NZ dollar is matching very well the falling gold price in US dollars. In fact at $1750 NZ you have to go back more than a decade to get a better NZ price. Before the meeting I was told that our cost to extract was about 1100 but During the meeting the report got down to about 800. Even at 1100 there is a good profit.
I also before or after the meeting talked about the promises made last AGM about where we would be by now. It seems to me we are still about somewhere going to bulk sample just like this time last year. This big delay was blamed on the court action but now the company have agreed that that is behind us and the greenies can take no more legal action to cause delays.Well it would be much more complicated in the legal world.
Our chairman and CEO will each buy 10 million shares each at the last issue rate and from what I can find must pay for them before the 90 days from july when the release was announced. This is very positive and makes me wonder if the RAHU discussions with Newcrest might be a little more advanced than we have been led to believe.
I am very hopeful that by this time next year we have advanced some of these projects.
Did anybody get a copy of this "important notice" before the AGM?
http://www.sunlive.co.nz/news/109045...-talisman.html