New Talisman Gold Mines (NTL) H1 2026 earnings summary

Executive summary

• Commissioned processing plant achieved 70% recovery rates for gold and silver during early trials, with throughput increased to 10 tonnes/day and a target of 14–16 tonnes per 8-hour shift.

• First shipment of 1,005kg gold concentrate at 181g/t sent to Europe under a new six-month offtake agreement, realising US$21.7k.

• Revenue for the six months to 30 September 2025 was $5,000, down 17% year-over-year.

• Net loss from continuing operations increased 31% to NZ$1,131,734 compared to the same period last year.

• Board changes include welcoming Terry Moynihan as Independent Non-Executive Director, appointment of Jane Bell as interim GM, and resignation of John Upperton.

Financial highlights

• Net loss for the six months ended 30 September 2025 was NZ$1,131,734, compared to NZ$934,367 loss in the prior year period.

• Operating income was NZ$4,849, with operating and administrative expenses totaling NZ$1,107,947.

• Cash and cash equivalents at period end were NZ$498,945, down from NZ$1,208,703 a year earlier.

• Share capital increased to NZ$46,639,225 with 678,882,381 shares on issue after new placements and loan note conversion.

• Net tangible assets per security were 2.38 cents, up from 1.60 cents a year earlier.

Outlook and guidance

• Immediate priorities: develop a targeted mining plan, reduce overheads, and secure additional funding.

• NZ$550k in short-term funding pledges, private placement closing 12 December 2025, and a larger capital raise planned for February 2026.

• Revised forecasts project sufficient cash for the next 12 months, but depend on successful capital raising and production assumptions.

• First shipment of gold concentrate announced as imminent, though grade was lower than planned, realising US$21.7k.

• Trading halt was sought and granted on 28 November 2025.