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NTL new talisman gold mines limited

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Ann: COMMENCEMENT OF MINE ACTIVITIES AT TALISMAN, page-15

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Hopeful Hitter

106 Posts.

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06/06/17

12:40

Post #: 25122288
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Originally posted by robbo24 ↑

Here's a post I wrote about 14 months ago. It has aged reasonably well: https://hotcopper.com.au/threads/nt...bagger.2760179/?post_id=17641588#.WTYTqsYlGUk

It covers the location of the projects - both adjacent to State Highway 2. 15 mins from the OceanaGold Martha Pit Mine.

A lot has happened since my post, namely: $6.5m raising (only $2.2m to revive the underground mine!) and all consents for construction given. Construction should be underway about now or at least this week. Company maintains it will be 6 months from commencement to ore. Currently consented to take 20,000 cubic meters of material per annum, which must be about 60,000 tons per annum in a mine where grades reach 6+ ounces per ton of gold and 18 ounces of silver per ton

Who knows what they will come up with!

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Cash flow statement looked good. Around 400-500k spend projected for the quarter. Even if the expenses blew out to 750k, that is only 1.5mil until the projected time for production to start up. With 5.5m in the bank it's seems worth the punt...GLTA

NTL Price at posting: 0.6¢ Sentiment: Buy Disclosure: Held
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Ann: COMMENCEMENT OF MINE ACTIVITIES AT TALISMAN, page-15

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