replys , comments , shares out , PMI etc(drafted on Monday/Tuesday/Wednesday in response to recent posts)-
RE: NTC shares issued and FD ( fully diluted):
87.x mil shares Out , 118.x mil shares FD
As I've posted a few times (if one reads all the NTC posts)
( and DD and TT were posting similar numbers I recall )
( No news's of any more pp's since then )
alternatively use WWW.TSX.COM
- enter a quote and see in the company quote section
( = 87 mil issued )
Stockpick you listen to Dudley? too much ( he mentions 65 mil along side 87 mil)
87/118 mil share count is per a company release in late May on Sedar
as I have stated in my posts ( click on my nick to read about 8 to 10 posts) .
IMO unlikely any wts or options exercised yet
- ie until drilling results are back , money needed for more drillings
and more shares have been feathered out ( expect only 2 to 3 mil sh so far of say
30+ or more million shares in pp's ) to fund the exercise
( ie Why would you exercise yet ? - I wouldn't until I had sold more. )
Also I expect in 10 days insiders would have to report the exercise, ie so one can track it
- other stocks often have the past pp sold off quickly but here with NTC , it is
different, with the much larger number of shares from pp's .
( ie it takes time to distribute shares )
I would say the wts are truly a sweetener, really aimed at
the potential for Cantung expansion , for MacTung and for the gold property.
re Poster's talk of Passport selling
It is my observation that it is the nature of merchant banks / venture caps/ funds
to limit their risk with juniors.
They often sell a major portion early, for less gain ( 15 to 30 %) , and move on to
another lending/financing play. And they often arrange a gypsy swap with insiders
so they have existing free trading shares to sell early. ( the insiders get the stock
with the hold, in order to complete the pp . ) So Passport has just moved on .
and
I also spec'd on an earnings and costs calc with price of about $170US and
based on Jan AGM reorg circular ( on sedar).
One could up(date) the selling prices a bit
Alan's figures seem in the right range except that the normally prudent
measure of using F dil sh count could be held off in this case imo .
( ie MacTung is a whole other mine , to double the value ? )
The AGM circular said $10 mil would be needed to reopen the mine and do
some drilling ( they then raised $13 mil)
I think at the right price , per timing of the charts ,
that NTC PMI and TBR can all be considered
Alan:
(per a posting by Dudley? - ) , the original study for MacTung ,based on
10600m of drilling ( say 100 350ft holes?) , was by AMAX before NTC obtained it.
And therefore was based as a stand-alone operation of a suggested 900 T /day mill.
It was shelved due to collapse of Tungsten into $20? range.
You suggest that it had previous operations as a pit .
More advanced than I thought!
Or was it just some underground bulk sampling ?
So now I expect NTC can quickly target some offsets , infills and boundary drilling
to prove-up and extend the MacTung deposit.
( and THEN exercise some warrants for sustained infill drilling next season )
Looks like main brokers and insiders have returned from vacation and will play this into startup
( mill/mine/equipment status) and the Fall assay season with the 3 areas to report on.
( Back to 1,60 to 1.80 range ?)
This stock is likely to trade continually ( swing) like TKO, ARG, NDM , EZM.
btw
Management planned the restart back in Dec ( AGM info), so I expect mechanical crews
went to site as snow left in April/Mmay and the pp's were set
( was it not late May / early June that they had the accident re-activating the bunkhouses)
cc PMI thread
Note to PMIers:
NTC has the sweetener of MacTung and a gold claim while I don't think PMI has a
big alternate deposit to drill? Does PMI have zero or low debt as does NTC?
I suppose it could as it was a new structure? prior to the takeover of the Portugal mine.
Also note that if the US$/Can$ resumes its fall again vs the Euro ,
then Tungsten and other metals climb again in $US
( so with copper etc higher in $US recently then they have climbed in Euros as $US climbed) ,
Yet if $US dips again NTC benefits , yet PMI has Euro costs .
This is more relevant to producers rather than development projects of course.
Regards Upmarkets