No thread for this sickly puppy! Have to rectify that, eh.
A mere 3,198,072,105 shares on issue, a share price of $0.002 and they're proposing a CR... Hmmm, that'll be interesting how they package this - $0.001 plus attach options galore?
The mine's historical drill core grades are outstanding. Sadly the only mining in 40+ years (back to Heritage in the 80s) has only been of shareholders.
Oh no .... did you have to...
lets delete this thread as some of those who used to post about it might turn up...
does it deserve the light of day? probably not....
Quote from: Waltzing on Jan 09, 2023, 01:18 PMOh no .... did you have to...
lets delete this thread as some of those who used to post about it might turn up...
does it deserve the light of day? probably not....
Sorry! I have a morbid curiosity, having loosely followed NTL (and its previous incarnations.) I have strong doubts that gold will ever see the light of day from it either.
Here's the science behind this fascination for viewing tragedy - https://www.nbcnews.com/better/health/science-behind-why-we-can-t-look-away-disasters-ncna804966.
It's all about survival instincts.
Boo,,, hisss..... boo again...
sorry ... well one supposes it does have some value as a cautionary true story...
Ah yes, I'm with you HP. As a former holder who managed to get out with only a mild loss, I too am interested in seeing how the new management team can progress the mine. It's an interesting case study of how long and how much can be milked out of shareholders.
3 for 5 rights issue at 1.8 cps NZD - last roll of the dice for Jonu?
I'd expect the price on market to get smacked down to somewhere close to this - still selling at 2.8cps on the NZX as I type this....
And look it's been a ten bagger in nominal terms this year 8)
Quote from: Crackity on Feb 10, 2023, 10:25 AM3 for 5 rights issue at 1.8 cps NZD - last roll of the dice for Jonu?
I'd expect the price on market to get smacked down to somewhere close to this - still selling at 2.8cps on the NZX as I type this....
And look it's been a ten bagger in nominal terms this year 8)
Finished the day at 2.1 - that would theoretically be the share price (based on the pre announcement price) if this closes fully subscribed. That's a mighty big IF. No surprise that the rights issue doesn't appear to be underwritten. NTL looks to be in its box and this could finally be the stake through its heart.
Quote from: Hectorplains on Feb 10, 2023, 11:38 PMFinished the day at 2.1 - that would theoretically be the share price (based on the pre announcement price) if this closes fully subscribed. That's a mighty big IF. No surprise that the rights issue doesn't appear to be underwritten. NTL looks to be in its box and this could finally be the stake through its heart.
Yeah -I reckon it's amateur hour not to say whether the issue is underwritten or not in the announcement. So the assumption is they couldn't get one as you pointed out....
- and I reckon even if it is fully subscribed NTL will not have raised anywhere near enough to get a producing consented mine.
Meanwhile here are the other options for sorta NZ wanna be goldie investors -
Federation Mining ( presently unlisted but backed by Oz Super and our Govt) . Interesting for anyone that has travelled thru Waiutu which is sorta like the Karangahake Gorge in the North Island. May list late this year. Huge grades like Talisman but backing peeps have a better track record.....
SNG (Siren) -high grade projects everywhere but no dosh....
SMI (Santana) for their South Island projects - lower grade project but Chris Lee loves them...good PR
Siren just raised cash and an all time sp low. They do spend a lot achieving not much, mostly mired in DoC issues. A change of government might move things along for them? I'm not much of a fan of investing in possible government change gambles. Much more dilution on the way before / if this ever gets to production.
Santana is a better bet but production is still a way of yet.
But both are better prospects than NTL... Plenty of Aussie goldies who are pulling the stuff out of the ground or about to. Bar misguided parochialism, I'm not sure the Kiwi options measure up...certainly not at this point. Just my 2 cents.
Quote from: Hectorplains on Feb 12, 2023, 11:24 AMSiren just raised cash and an all time sp low. They do spend a lot achieving not much, mostly mired in DoC issues. A change of government might move things along for them? I'm not much of a fan of investing in possible government change gambles. Much more dilution on the way before / if this ever gets to production.
Santana is a better bet but production is still a way of yet.
But both are better prospects than NTL... Plenty of Aussie goldies who are pulling the stuff out of the ground or about to. Bar misguided parochialism, I'm not sure the Kiwi options measure up...certainly not at this point. Just my 2 cents.
Agreed and also a few producing Aussie Goldie's that are having trouble with costs and grades....I'm thinking Calidus (CAI ) and St Barbara (SBM) - interesting sector at the moment - certainly no easy way to cruise along the yellow brick road.
The Board chair has been buying up large on market the last couple of days...More than $2000 worth. Outstanding vote of confidence that ::) ::) ::)
Yeah - it's a solid petty cash buy
However she also stood for NZO board as an independent when it was hopeless.
I'd give her a chance but I wouldn't give NTL any money at the mo.
Closed today at the cap raise price - which is probably not really gonna encourage lots of punters to throw more cash
Its a bit like the prisoners dilemma question - if some holders decide to sell below the cap raise price and realise whatever value they may salvage then the cap raise fails as does the company?
In their own words the Board have stated ' if we cannot complete this capital raise, the Board's view is that there are very few options left for the company '
Interesting 8)
SP stuck at .018. NTL moribund? Might be game over come Friday.
suppose no one is protesting over this mine as it doesnt actually do any?
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.
On the move ;D
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
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?
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
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
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.