New Talisman starts life with $9.2M in funds 30 May 2012
- Intueri says it's sound financially despite share plunge Business
- Snakk narrows first-half loss, lifting margins as sales rise Business
- Vector to repay $540M of bank debt on sale of gas business Business
- NZ dollar set for action-packed week after Thanksgiving lull Business
- MARKET CLOSE: NZ shares rise on a2 bounceback Business
- Parent, wife of Pike River victims fail to win court review Business
- High Court hears allegations over redacted report in Trends Business
- NZ dollar largely unchanged this week Business
- Scentre Group agrees to sell three Westfield malls Business
- Pulse Energy investors get mixed messages on takeover 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.
22 Nov 2015 News
New Zealand Government Rt Hon John Key Prime Minister 22 November 2015 PM welcomes closer partnership with ASEAN Prime ... more
20 Nov 2015 Business News
Nov. 20 (BusinessDesk) - Tower, the general insurer, says it will report an annual loss next week after raising its provisioning for... more
17 Nov 2015 Business News
Article - BusinessDesk NZ inflation expectations drift further below 2% mid-point Nov. 17 (BusinessDesk) - Longer term ... more
20 Nov 2015 Lifestyle
New Zealand’s recreation industry recognised 10 inspiring individuals and organisations at the New Zealand Recreation ... more
4 Nov 2015 Property
Auckland house price growth moderates in October as new rules introduced Nov. 4 (BusinessDesk) - Auckland house price growth... more
12 Oct 2015 Migration
Those looking for a sense of security when immigrating to New Zealand or Australia, need look no futher than the first inusrance... more
21 Sep 2015 Migration
NZ's annual net migration reaches record 60,300 in August on Indian, Chinese students By Jonathan Underhill Sept. 21... more
29 Oct 2015 Travel & Tourism
Internal Affairs says Australia's cloud passports only "conceptual" for now Oct. 29 (BusinessDesk) - The Department of... more
22 Oct 2015 Travel & Tourism
Auckland Airport a 'conductor' for New Zealand tourism, CEO Littlewood says Oct. 22 (BusinessDesk) - Auckland International... more
19 Nov 2015 Sport
New Zealand Rugby Union Richie McCaw retires from rugby Richie McCaw has today confirmed he is hanging up his boot... more
20 Nov 2015 Opinion
Gordon Campbell on why Islamic State’s growing weakness makes it more dangerous One of the great things about writing online... more
20 Nov 2015 Appointments
Article - BusinessDesk Cavalier promotes CFO Paul Alston to top job By Paul McBeth Nov. 20 (BusinessDesk) - Cavalier Corp, the... more
4 Nov 2015 Recruitment
Article - BusinessDesk UPDATE: NZ employment falls in third quarter, adding to case for further RBNZ rate cut (Recasts to... more