Hmm... I would have to be convinced that this is a bad market...

Hmm... I would have to be convinced that this is a bad market for NZ/Aussie gold miners, notwithstanding NTL is not yet a producer. If it gets the clear path to production (funding being the obvious hurdle at this very second) then I expect a rerate. Existing holders, particularly those who bought above the rights issue price, may be very interested to partake.

My view is that the optimum raise is about $5-6m, which using the pre-cap raise MCAP would give the company an implied price of about 1 cent. If you have taken up your rights, you will be in the money. You will also be holding a company that is capitalised into self-funding future production with additional funds to put towards a potential JV with one of the biggest gold companies in the world.