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- Release Date: 29/08/12 15:58
- Summary: RIGHT: NTL: Capital Raising - Rights Issue
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NTL
29/08/2012 13:58
RIGHT
REL: 1358 HRS New Talisman Gold Mines Limited
RIGHT: NTL: Capital Raising - Rights Issue
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL)
FOR IMMEDIATE RELEASE
CAPITAL RAISING
New Talisman Gold Mines Limited intends raising up to A$1.2M via a 1 for 3
Renounceable Rights Issue at A$0.01 per ordinary Share.
The Rights Issue will have an Option attached to every share issued under the
offer. The Options will entitle the holder to subscribe for one ordinary
share on exercise, have an exercise price of A$0.02 and will expire 5 years
from issue.
Martin Place Securities have been appointed Lead Manager and Underwriter to
the Renounceable Rights Issue subject to formal documentation and regulatory
approvals.
The funds raised will be used to advance the Talisman project through
prefeasibility, including a project development study to include mining and
processing options, safety and environmental requirements; and to fund
general working capital.
Further details of the timetable for the Renounceable Rights Issue will be
released in due course.
J Murray McKee
Deputy Chair
New Talisman Gold Mines Ltd
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About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) with 1800 shareholders
who are mainly from Australia and New Zealand. It is a leading New Zealand
minerals development and exploration company with a portfolio of high quality
mineral interests. Its gold properties near Paeroa in the Hauraki District of
New Zealand are a granted mining permit, including a JORC compliant mineral
resource within the original Talisman underground mine, and an adjacent
exploration permit along strike from the mine. The company is now advancing
its plans to develop the mine, and advance the exploration project.
Through a subsidiary company, New Talisman Gold owns 21.7% of Broken Hill
Prospecting Limited, which is planning to develop a cobalt project at
Thackaringa, about 25 kilometres south-west of Broken Hill in Australia. BPL
is listed on both the ASX and NZSX (Code: BPL).
More about New Talisman Gold at www.newtalismangold.co.nz
End CA:00226617 For:NTL Type:RIGHT Time:2012-08-29 13:58:20
