Golden Road ahead, page-5

You're assuming land use consent approval needs to be announced to market.

Perhaps it actually isn't material enough to be required to be announced. I guess announcements have costs, and NTL management might prefer to minimise admin and costs and focus on the business.

I think your guesses about share prices are farcical, although possible (therefore a bargain) if that is the set price of the capital raise. I recall someone many months ago determining the known resources to infer a price of 1.5c/share, without any of the mine development or exploration that has occurred since.