New Talisman starts life with $9.2M in funds 30 May 2012
- Collins set to walk today Business
- Fonterra credit rating cut by S&P, Fitch affirms rating Business
- WDT widens 1H loss, warns FY earnings won't improve Business
- Veritas Investments to buy upmarket Nosh supermarket chain Business
- MARKET CLOSE: NZ shares fall led by Auckland Airport Business
- Vector wins tax case over Auckland CBD tunnel payment Business
- Lyttelton Port profit boosted by insurance payments Business
- NZ dollar heads for 0.5% weekly decline Business
- Marsden Maritime lifts annual profit 24% Business
- UPDATE:Bathurst writes off full value of Buller coal project Business
New Talisman Gold Mines, the gold miner formerly known as Heritage Gold, is starting out with $9.24 million in equity as it prepares to develop the Talisman gold prospect on the Coromandel Peninsula.
New Talisman recently replaced Heritage on the NZX and ASX main boards, with Mongolian and Papua New Guinean projects hived off to a new entity to allow focus on the Talisman project, which a scoping study has identified as a "very robust and highly profitable project."
The Hauraki gold field project was assessed to have a net present value of more than A$150 million at a 7.5 percent discount rate over a 20-year life, subject to several assumptions.
The company has also identified "the possibility of additional underground resources for medium term development" at the adjacent Taukani Hill, and a survey in the nearby Rahu permit points to "the likelihood of feeder veins at depth that may be mineralised."
A pre-feasibility study is not underway for the rest of 2012, to consider options for each of the main asepcts of the project, with the company taking "a high regard for the community and the environmental, scenic and heritage values of the area," chairman Richard Pearse said.
In the 12 months ended March 31, New Talisman - then trading as Heritage Gold - recorded a loss on operations of $537,802, consistent with a mining company engaged in exploration activity.
Added to this was $313,997 of losses associated with its ongoing 21.7 percent holding in Broken Hill Prospecting, a cobalt prospect in New South Wales.
That took total equity at balance date to $9.24 million, compared with $10.1 million at March 31 2011.
New Talisman shares were up 12.5 percent today in trading on the NZX, at 1.8 cents apiece.
28 Aug 2014 News
New Zealand Government NZ provides further aid to Iraq Foreign Minister Murray McCully today announced that New Zealand will provide ... more
27 Aug 2014 Business News
Article - BusinessDesk Christchurch property investor Ridgecrest wins IAG policy appeal in Supreme Court By Jonathan ... more
26 Aug 2014 Business News
Article - BusinessDesk Time to rethink India's IT reputation, says visiting delegation Aug. 26 (BusinessDesk) - India's... more
26 Aug 2014 Lifestyle
Air New Zealand Air New Zealand invites Hobbit fans to enter The Hobbit Fan Fellowship Contest for a chance to win a ... more
25 Aug 2014 Environment
Singer Lorde shows off her Moonman trophy for Best Rock Video for ‘Royals.’ Lorde, have mercy. The New Zealand pop star... more
14 Aug 2014 Property
New Zealand house sales fell in July as winter cooled the appetite of house hunters while a drop in properties selling for $400,000... more
7 Aug 2014 Property
Aug. 7 (BusinessDesk) - New Zealand property values rose at the slowest annual pace in 13 months in July as rising interest rates,... more
20 Aug 2014 Migration
Statistics NZ puts out detailed data on different ethnic groups, down to the 108 people from the Isle of Man. Did you know there are... more
28 Aug 2014 Travel & Tourism
Aug. 28 (BusinessDesk) - Jetstar, the discount unit of Australian airline Qantas Airways, lost ground in New Zealand, while claiming... more
28 Aug 2014 Multisport
New Zealand has their Edmonton World Championship campaign underway with the perfect three from three gold medals in the elite... more
28 Aug 2014 Sport
Howick Hornets second-rower Dion Snell has capped off a breakthrough year by being named 2014 Appliance Shed Fox Memorial Lion Red... more
29 Aug 2014 Column
As regular readers of this column already know, I am a bit of a fan when it comes to change. Evaluating your life, deciding how you... more
28 Aug 2014 Column
Gordon Campbell on Winston Peters’ latest bout of immigrant bashing, and Bob Dylan in the basement (again) So in the... more
20 Aug 2014 People
We're expecting big things from Harman Grubisa, the new label from Auckland-based friends Madeleine Harman (right) and Jessica... more
22 Aug 2014 Recruitment
The loss of up to 100 jobs at Croxley stationery in Auckland is devastating news for their families and the local Avondale... more