Rahu Extension, page-5

Indeed.

As far as the Rahu extension goes, I called NZPAM yesterday. The guy on the phone tried his best but didn't really understand what I wanted to know.

Don't forget that the Rahu mining permit expired around the time that the application for change was made by NTL.

The fact that the mining permit map no longer includes Rahu could actually mean that the application for change to the Talisman mining permit (to extend over Rahu) was declined and that there is no current mining permit for Rahu. Laneway may snap it up, if that is the case. On the change-log for the Talisman mining permit, there is no mention of the .05 change application, but the previously approved changes do. Declined applications do not appear, so that may suggest that the extension application was not approved.

However there may be some delay in lodging a new mining permit map with LINZ or whoever manages the mapping system, albeit one would expect the NZPAM website to be updated with the new descriptions if Rahu was now included in the Talisman mine.

So, it could be either NTL have gained Rahu as part of their Talisman mining permit or lost the Rahu mining permit by expiration... Albeit I would be fairly certain that NTL would have a plan in place in either event, watch this space.

Lest we forget, CEO Matt Hill is certainly no fool. The guy worked for Washington H Soul Pattinson (ASX:SOL, MCAP of $4bn) and was an exec director of WHSP's main investments in subsidiaries and associated investments, Pitt Capital. Mr Hill and his family trust appear to have continued to substantially increase their holding since they took over NTL in what I believe to be 2012. These people aren't fools or mugs, DYOR.