NTL - New Talisman

[Left Field]

Seems nothing is easy for NTL..... trading halt.... not a good look.

https://api.nzx.com/public/announcement/433696/attachment/421792/433696-421792.pdf

Reasons for trading halt: On 27 June 2024, the ASX suspended quotation of the
Company's securities following release of the Company's annual report, as the audit report
contained in that annual report included a disclaimer of opinion. ASX noted that the
suspension will continue until the Company is able to demonstrate compliance with ASX
Listing Rule 12.2, relating to the financial condition of the Company. The Company wishes
to halt trading of its securities on the NZX Main Board pending further consideration by the
Board of the steps necessary to demonstrate compliance with ASX Listing Rule 12.2. and
the potential implications for NTL's intended Capital Raise.

[Buzz]

On the move 

[Crackity]

Mining at the Mystery vein continues to present challenges. The narrow portal and restricted accessways slow material movement, and limited data makes predicting vein behaviour difficult. Robbo still has the relevant manila folder. While chip samples provide some guidance, the vein's tendency to pinch and swell adds complexity. While such variability is typical in narrow vein mining like we see at Talisman, it remains a source of frustration. We now have a spare pick axe though. Current Run-of-Mine (ROM) grades average 2.85 g/t, below expectations at this stage. Last week, the team temporarily lost sight of the lunchboxes too. Adjustments have since been made, and lunch has resumed on time.
As we gain more knowledge of the Mystery vein and its mysteries we anticipate another cap raise

[Crackity]

The plant doesn't work

The mining grade so far doesn't in any way support an underground operation

They have a bulk sampling consent and are not mining the vein

They burn a mill per 6 months

They are out of cash

Anything I've missed?

[Crackity]

New announcement out - please note this isn't it.....


NEW TALISMAN GOLD MINES LIMITED (NZX: NTL)

SHAREHOLDER IMMOLATION NOTICE

New Talisman Gold Mines Limited (the Company) is seeking to make a private placement to unsophisticated and professional but naive investors.
The Placement will be made under
clause 19 of Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA).
For the purposes of clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 (FMCR) and the FMCA, the Company advises that as at the date of this notice:
1  we have no money
1.1  we only have a bulk sampling licence
1.2 we don't know how to mine anything except shareholders

[Crackity]

Talisman Mine Operations

Mining at the Mystery vein has presented some challenges. The narrow
portal and restricted accessways slow material movement, the natural var-
iation of narrow vein has limited data analysis which makes predicting vein
trajectory difficult. Matt still has our compass and marker pens. While chip samples provide some guidance generally we all like salt and vinegar so we buy them mainly.
In early December NTL paused operations except for chips and admin and directors meetings while the Board focused on finalising a more targeted forward plan.
1
The forward plan will likely include a first phase of analysing the technical data
2
Another cap raise
3
Er, that's it - back to 1 again

[Otago K]

Jokingly posting somewhat here, who saw a CR or rights offer on the horizon for this company
https://www.nzx.com/announcements/468506

I haven't read it, nor likely to find the time to be bothering.