NTL - New Talisman Mine - New board & Directors

[Landyman]

For the purposes of Listing Rule 7.12.1 of the NZX listing, New Talisman Gold
Mines Limited advises the following
Securities have been issued on 5 July 2016 pursuant to its renounceable
rights issue:
a Class of security Ordinary Shares
ISIN NZNTLE0013S0
b Number issued 905,535,515
c Nominal value $4,694,130
Issued at NZ$0.005 or AU$0.005 per share (a total of NZ$3,694,161 and
AU$959,869

[Landyman]

Hmm, so less than half the rights were taken up.

Maybe Amer is required.

Still, $4.7m is a lot more cash than NTL have had for a while. Explorer to Producer, you can do it!!

NTL have 3 months to place the shortfall.

[Landyman]

THunderbirds are Go!

NTL
05/07/2016 14:13
GENERAL
PRICE SENSITIVE
REL: 1413 HRS New Talisman Gold Mines Limited

GENERAL: NTL: NTL successfully raises $4.69M

5th July 2016

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL or NTLOA)
FOR IMMEDIATE RELEASE
NTL SUCCESSFULLY RAISES $4.69M

Highlights
o Successful completion of rights issue raises approximately $4.7M.
o Board initiates the bulk sampling/trial mining at Talisman Mine.
o Mystery Vein targeted for first ore extraction.
o The company is analysing historical data to target the enormous upside
potential at Talisman.

New Talisman Gold Mines Limited (New Talisman or NTL) is delighted to
announce it has raised a total of $4.69M through the issue of 905,535,515
shares following its 3 for 1 renounceable rights issue dated 25th May 2016.
The company has had tremendous support from Australian and New Zealand
shareholders to the issue.
Following the strategy laid down by the board in 2012 the board is delighted
to announce it has now completed the transition from explorer to developer
and sits today on the eve of the company's final transition to producer with
commencement of trial mining/bulk sampling at the Talisman mine.
The board has now resolved to immediately initiate the bulk sampling/trial
mining programme. Works have begun ranging from the purchase of equipment
through to finalising the remaining module on health and safety expected to
be lodged in the coming weeks.
Bulk Sampling Programme
With funding for the project now secured the company has initiated the first
steps towards extracting ore from the underground workings of the mine. This
ore is planned to be sourced from two of the mines most promising Mineral
Resource Blocks namely the Mystery and Dubbo blocks.
These first steps towards mine production involve ensuring safe access for
vehicles and personnel to the mine site through implementing the controls set
out in the company's Traffic Management Plan for upgrading the current access
road. The company will immediately action the design works with a view to
begin construction in Q3 2016.
Once the roadto the site is upgraded the company will proceed with securing
and equipping the mine site. Services reticulation equipment will be
transported to site and installed along with demountable office
accommodation. Construction of the ventilation lock and primary fan
installation will follow along with fit out of the explosives magazine and
construction of surface ore handling facilities. With these in place, work on
the refurbishment of the mine's tunnels and installation of underground
services can begin.
Refurbishment and equipping is expected to take approximately 6 months to
reach the working face at the Mystery Vein Drive. During this time, apart
from installing engineering reticulation services, the company will install
modern support systems in a number of areas, construct a series of
ventilation controls in order to manage the flow of air through the mine
workings and construct the underground water handling system. With these
systems in place production of ore from the Mystery vein through drill and
blast methods can commence.

The Mystery Vein
The Mystery Vein presents one of the most exciting opportunities for the
company and has the potential to become a significant source of future
production and revenue. The vein was discovered in the late 1980's when
Keillors Crosscut was driven to connect the Talisman 8 Level with the Crown
Mine 5A and lies between the Maria and Welcome/Crown Veins approximately 200m
east of the Maria Vein. The vein has been exposed over a strike length of
approximately 50m where its orientation, width and character are consistent
with the two main veins either side.
NTL have previously channel sampled the exposed vein on the north drive of
the Mystery Vein where results ranged from 1.12g/t Auto as high as 53.0g/t Au
and has an estimated Mineral Resource of 10,300 oz Au and 17,100 oz Ag based
on the known dimensions. The location of the Mystery Vein between the Crown
and Maria veins suggests the possibility that the Roderick Dhu workings, that
occur around 600 m north of the Mystery vein, may well be the same vein
system. Recent analysis of historic data supports this with grades recorded
in the data set from 39 surface outcrop and underground channel samples
ranging from below detection to 84.0 g/t Au with an average of 11.89 g/t Au
and 107.4 g/t Ag. Sample widths range from around 10cm to 1.8m and average
0.4m.
Dubbo Zone
Once production is underway at the Mystery Vein the company will continue
with refurbishment of the Dubbo Drive for some 300m beyond Keillors crosscut.
Once equipping is completed the company will begin development of a series of
tunnels within the Maria vein in this very important section of the mine. The
Dubbo zone is the largest of the mines existing ore blocks containing some
145,000 oz gold at an average gold grade of 10.1 g/t Au. Bonanza grades of
around 3000 g/t Au have been reported in the past by the previous operators
in the late 1980's. Channel sampling by NTL in the BM37 stope in 2004
returned grades of between 1.04 and 798.92g/t Au. A 63 tonne parcel of
stockpiled ore that was sourced from this area was recently treated at the
Waihi gold plant and yielded 89 oz of gold at an average grade of 43.76g/t
(1.4 oz/t Au).
Based on current estimates production is expected to build up to steady state
levels of between 650 and 700 tonnes per month yielding between 200 and 220
ounces of gold at an on mine cost of approximately NZD900/oz. With the price
of gold now exceeding NZD2,000/oz it is expected that the project will be
self-sustaining at these levels. Beyond this there are many opportunities to
expand the production base and the company is in the process of evaluating
these.
Matthew Hill Said "Following the most successful fundraising in the company's
recent history the bulk sampling programme is now fully funded and has been
initiated. This result is one of the more successful raisings by a junior
miner in NZ this year and supports the attractiveness of the Talisman project
in a very competitive market for investor funds. The completion of the rights
issue cements the company in its transition to developer and allows us to
begin the necessary works to bring this historically productive Talisman mine
back into production"
__________________________________________________ ___________________________

[bucko]

Too soon to order that Aston Martin?

[Placemakers]

Too soon to order that Aston Martin?

I already Ordered a Rolex

[Landyman]

Matt Hill did, took up his rights.

The sell done is on, nice 40% lift for those who want out.

[Flugenbear]

'With the price of gold now exceeding NZD2,000/oz it is expected that the project will be
self-sustaining at these levels'

Not sure what kind of rates this statement was based on because when it was made it was closer to 1850NZD. It's creeping higher but it makes we wonder what over exaggerations have been made...

Anyway, I'm bullish. Just don't like to see these 'mistakes'.

[bucko]

Is this going to self-update? ANZ Securities have added the full amount to my portfolio...which I didn't take the full amount

[Landyman]

Is this going to self-update? ANZ Securities have added the full amount to my portfolio...which I didn't take the full amount

I got the same issue. I deleted the ANZ entry and added my own manually.

[Kees]

http://www.proactiveinvestors.com.au...ing-69634.html