News: New Talisman Gold Mines appoints Trevor Rintoul a director

New Talisman Gold Mines (ASX:NTL) has appointed Trevor Rintoul as an independent non-executive director of the company.

Rintoul is an experienced mining and civil professional who has worked extensively in Australia, New Zealand, Papua New Guinea, Solomon’s and Fiji.


Cash flow generation

Last month the company delivered a milestone in monetising ore from the Talisman Mine in New Zealand.

The company generated about NZ$100,000 from its first sale of 60 ounces of gold and 227 ounces of silver.

Fifty tonnes of stockpiled Talisman ore were despatched to Newmont Mining’s (NYSE:NEM) treatment facility at Waihi were analysed and found to contain 64.5 ounces of gold at a recovered grade of 42.56g/t and 227.3 ounces of silver at 150.01g/t.


Analysis

Last month the company delivered a major milestone on its journey from explorer to producer, with the first production of commercial gold from the historical mine site in over 30 years.

A potential re-rating catalyst for New Talisman would include the possibility of more batches of ore being treated with similar grades, and the formal change of conditions relating to the mine lodged mid-year.

Other share price kickers to look out for could be a joint venture, farm-in or ore processing agreement on Rahu with a significant gold producer.

Rahu currently has an Indicated and Inferred Resource of 41,591 gold ounces and 258,419 silver ounces.