New Talisman Gold Mines (NTL) H1 2025 earnings summary

Executive summary

• Raised NZ$2.41m via rights issue and shortfall placement to fund Talisman Mine operations and processing plant purchase.

• Secured a five-year Access Agreement with the Department of Conservation, providing operational certainty.

• Entered lease and processing agreement with Terra Firma Mining Ltd; processing plant purchased and prepared for shipment.

• Appointed a full-time General Manager and re-elected experienced directors at the ASM.

• Applied for voluntary delisting from ASX in November 2024.

Financial highlights

• Net loss for the half year was NZ$934,367, compared to NZ$448,842 loss for the same period last year.

• Revenue was NZ$6,116, down from NZ$23,823 year-over-year.

• Cash and cash equivalents increased to NZ$1,208,703 from NZ$480,997 at March 2024.

• Share capital increased to NZ$44.3m after rights issue and loan note conversions.

• Net tangible assets per security declined to 1.47 cents from 2.03 cents a year ago.

Outlook and guidance

• Production at Talisman Mine expected to commence January 2025, with plant commissioning in December 2024.

• Cash flow forecasts for FY25 and FY26 project sufficient liquidity, contingent on production targets and gold prices.

• Company intends to apply for full mining consent during the bulk sampling phase.