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New Talisman Gold Mines Limited (ASX:NTL)

ALERT: Price-sensitive ASX Announcement for NTL
Current share price for NTL : $0.016 -0.005 (-23.81%)+
Announcement
Release
31 Oct 2024 7:44AM
Price at Release
$0.021
Full Release
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Summary
New Talisman Gold Mines Limited (NTL) reported its quarterly activities for the period ending September 30, 2024. Key highlights include securing a temporary unsecured loan from the largest shareholder and two directors, completing a rights issue that raised $2.41 million, and reappointing Independent Director Michael Stiassny. The company has purchased a processing plant and is preparing for mining operations at the Talisman Mine, including potential developments at the Mystery vein South, which may enhance project value. Furthermore, NTL has established a long-term access arrangement with the Department of Conservation, improving operational security for the Talisman Mine.
Key Points
  • Temporary unsecured loan facilities provided by largest shareholder and 2 Directors
  • Completed a Rights Issue raising a total of $2.41m
  • Independent Director Michael Stiassny reappointed at ASM
  • Approval at ASM for Director uptake of $170k in Shortfall
  • Purchased a processing plant and readied it for shipment
  • Satisfied all DOC Access Arrangement conditions and received Authority to Enter and Operate at Talisman
  • Converted to shares $558k of the Convertible Loan Note held by NTL’s largest Shareholder
  • Appointed General Manager
  • Coordinating with Mine Operator Terra Firma to stockpile ore for processing
  • Potential upside to expectations for Mystery vein South identified
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.