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NTM appointments signal golden intentions

An experienced capital markets executive is managing director.
WA map
The company has received further high-grade gold drilling results

NTM Gold Ltd (ASX:NTM) has appointed experienced capital markets executive Andrew Muir as managing director to steer its gold strategy.

The company has also appointed substantial shareholder Ted van Heemst as a non-executive director.

Inaugural CEO Rodney Foster will transition to the role of non-executive (technical) director.

Muir is an experienced gold geologist who has spent the past 12 years in corporate finance.

Focus on Redcliffe Gold Project

The appointments have been made following the success of NTM’s campaign to identify gold-bearing mineralisation at its Redcliffe Gold Project near Leonora in Western Australia.

Muir’s appointment will enable NTM’s technical team, led by Foster, to focus solely on further exploration success at Redcliffe.

He joins from Argonaut Capital, where he was an associate director with that firm’s corporate team and has also worked as an analyst for JP Morgan, Hartleys and PCF Securities.

Muir began his career as a geologist for Great Central Mines before joining Placer Dome and then Goldfields Ltd.

Capital raising

Early this week NTM is expected to announce the results of a capital raising arranged by Argonaut Capital and Hartleys.

Priced at $0.05, an 8% discount to NTM’s last traded price of $0.054, the raising is targeting $1.25 million.

High-grade gold results

NTM has received further high-grade gold results from drilling in December 2017 of the Nambi and Golden Terrace South deposits at Redcliffe.

These include 1 metre at 34.3 g/t gold within 3 metres at 14.2 g/t from 43 metres, 2 metres at 8.98 g/t from 84 metres and 3 metres at 8.44 g/t from 238 metres at Nambi.

Best Golden Terrace South results were 16 metres at 2.71 g/t from 191 metres and 19 metres at 2.40 g/t from 138 metres.

Further encouraging results were returned from early stage drilling at Bindy and KT-1, two new regional discoveries made in 2017.

Resource estimate underway

NTM has engaged independent consultants to update the resource estimate of 5.48 million tonnes at 1.57 g/t gold for 278,000 ounces, including 969,000 tonnes at 2.7 g/t in the indicated category.

The estimate is expected to be completed later this quarter.

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