NEW TALISMAN GOLD MINES LIMITED For personal use only
547 Parnell Rd, Parnell, Auckland 1052
Office +64 9303 1893
Fax +64 9303 1612
info@newtalisman.co.nz
______________________________________________________
23 March 2022
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED
(ASX, NZX: NTL, NTLOB)
FOR IMMEDIATE RELEASE
Revised Cash Forecast and Activity Report
For the Quarter Ended 31 Dec 2021
At the request of ASX, NTL is providing a revised Cash Forecast and Activity Report for the period ended 31 Dec 2021. The revised forecast more properly reflects the anticipated cash outflow whereas the previous forecast was based on originally budgeted outflows of cash. The Activities report confirms there were no mining or exploration activities in that quarter.
NTL has decided to release the revised report to both exchanges in the interest of full disclosure to all shareholders.
Mr J Upperton
Chairman
New Talisman Gold Mines Limited
__________________________________________________________________________________________
About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) with over 3000 shareholders who are mainly from Australia and New Zealand and has been listed since 1986. It is a leading New Zealand minerals development and exploration company with a mining permit encompassing the Talisman mine, one of New Zealand's historically most productive gold mines. The company has commenced prospecting and upgrading activities at the mine and advance the exploration project to increase its considerable global exploration target into JORC 2012 resources.
Its gold properties near Paeroa in the Hauraki District of New Zealand are a granted mining permit, including one of New Zealand's highest-grade underground gold mines.
Page | 1
Market Announcement
For Immediate Release
Quarterly Activities Report to 31 December 2021
only | |||||||||||
New Talisman Gold Mines | New Talisman Gold Mines Limited (NTL) is pleased to present a | ||||||||||
Limited | |||||||||||
report on activities for the quarter ended 31 December 2021. | |||||||||||
Responsible, | HIGHLIGHTS | ||||||||||
E vironmentally | |||||||||||
• Vanuatu Transaction Fully Settled | |||||||||||
Sustainable Mining | |||||||||||
• Broken Hills Deal Terminated | |||||||||||
ASX/NZX Code | NTL | • | Board Appointments | ||||||||
The Shareholder sentiment expressed at the Company's September | |||||||||||
______________________ | |||||||||||
ASM came to fruition in October and has been detailed as post quarter | |||||||||||
Commodity Exposure | activity in the previous Quarterly Activities report to Sept 30 2021. | ||||||||||
https://www.nzx.com/announcements/381849 | |||||||||||
GOLD and SILVER | |||||||||||
useBoard | As earlier detailed the Company received a claim from former Director | ||||||||||
Matthew Hill in October which it has strongly rebuffed and considers is | |||||||||||
John Upperton Chairman/Independent Director | without merit. There is nothing further to report. | ||||||||||
At the beginning of November the Board appointed and welcomed two | |||||||||||
Samantha Sharif Independent Director | |||||||||||
personal | new independent Directors, Mr Michael Stiassny and Ms Samantha | ||||||||||
Mich el Stiassny Independent Director | |||||||||||
Victor R bone Non-Executive Director | Sharif and as intended, interim Director Mr Calum McKenzie stood | ||||||||||
Ja e Bell Company Secretary | down from the Board. https://www.nzx.com/announcements/381959 | ||||||||||
With a fully constituted and stabilised Board, work was able to begin on | |||||||||||
Capital Structure | determining a path forward for the Company. | ||||||||||
Ordinary Shares at 31/12/2021 | 3,189m | It became apparent to the Board that the condition to transfer the | |||||||||
Share Price | Broken Hills Mining Permit to New Talisman by Dec 31 2021 was | ||||||||||
0.20cps | unable | to be | satisfied and the | independent | Directors | decided to | |||||
Sha e P ice at 27/01//2022 (NZX) | terminate the Purchase agreement with Broken Hills. This decision also | ||||||||||
Sha e P ice at 27/01//2022 (ASX) | 0.15cps | ||||||||||
impacted upon the merits of the Listing of Coromandel Gold Ltd | |||||||||||
planned by the previous Board, and it was also announced at that time | |||||||||||
that | the | Listing | would | not | proceed. | ||||||
https://www.nzx.com/announcements/383587 | |||||||||||
ForNew Talisman Gold Mines Limited | At the end of the December quarter the Company issued 62,080,075 | ||||||||||
ordinary shares in final settlement of the Capella Vanuatu acquisition. | |||||||||||
No mining or exploration activities were undertaken in the quarter. | |||||||||||
The Company paid $45,007 for Directors fees and consulting services | |||||||||||
to companies in which directors had an interest. | |||||||||||
The Company advanced $17,404 to Coromandel Gold Limited; a | |||||||||||
Address | 547 Parnell Rd, Parnell, | ||||||||||
subsidiary of the Company. The Company advanced $8,472 to Rahu | |||||||||||
Auckland | Resources Pty Limited; a subsidiary of the Company. | ||||||||||
Phone | +64 09 303 1893 | ||||||||||
Website | www.newtalisman.co.nz | The Board has also had to deal with a number of regulatory queries, | |||||||||
info@newtalisman.co.nz | |||||||||||
largely pertaining to the period prior to the new Board's involvement. | |||||||||||
These have been somewhat of a distraction, but the absolute priority | |||||||||||
for the next quarter is to continue to develop a Strategic Plan | |||||||||||
concentrating upon the core asset of the Talisman Mine. | |||||||||||
Tenements | |||||||||||
Talisman Mine - MP51326 | |||||||||||
Capella Vanuatu - PL1851 | |||||||||||
For personal use only
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity | |
NEW TALISMAN GOLD MINES LIMITED | |
ABN | Quarter ended ("current quarter") |
009 474 702 | 31 December 2021 |
Consolidated statement of cash flows | Current quarter | Year to date (9 | ||
$NZ'000 | months) | |||
$NZ'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | Nil | Nil | |
1.2 | Payments for | |||
(a) | exploration & evaluation | Nil | Nil | |
(b) | development | (38) | (310) | |
(c) | production | Nil | Nil | |
(d) | staff costs | Nil | Nil | |
(e) | administration and corporate costs | (360) | (776) | |
1.3 | Dividends received (see note 3) | Nil | Nil | |
1.4 | Interest received | Nil | Nil | |
1.5 | Interest and other costs of finance paid | Nil | Nil | |
1.6 | Income taxes paid | Nil | Nil | |
1.7 | Government grants and tax incentives | Nil | Nil | |
1.8 | Other (provide details if material) | Nil | Nil | |
1.9 | Net cash from / (used in) operating | (398) | (1,086) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | Nil | Nil | |
(b) | tenements | Nil | Nil | |
(c) | property, plant and equipment | Nil | (2) | |
(d) | exploration & evaluation | Nil | Nil | |
(e) | investments | Nil | Nil | |
(f) | other non-current assets | Nil | Nil |
ASX Listing Rules Appendix 5B (17/07/20) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Consolidated statement of cash flows | Current quarter | Year to date (9 | ||
$NZ'000 | months) | |||
$NZ'000 | ||||
2.2 | Proceeds from the disposal of: | |||
(a) | entities | Nil | Nil | |
(b) | tenements | Nil | Nil | |
(c) property, plant and equipment | Nil | Nil | ||
(d) | investments | Nil | Nil | |
(e) | other non-current assets | Nil | Nil | |
2.3 | Cash flows from loans to other entities | (26) | (95) | |
2.4 | Dividends received (see note 3) | Nil | Nil | |
2.5 | Other (provide details if material) | Nil | Nil | |
2.6 | Net cash from / (used in) investing | (26) | (97) | |
activities | ||||
3. | Cash flows from financing activities | |||
3.1 | Proceeds from issues of equity securities | Nil | 693 | |
(excluding convertible debt securities) | ||||
3.2 | Proceeds from issue of convertible debt | Nil | Nil | |
securities | ||||
3.3 | Proceeds from exercise of options | Nil | Nil | |
3.4 | Transaction costs related to issues of equity | Nil | Nil | |
securities or convertible debt securities | ||||
3.5 | Proceeds from borrowings | Nil | Nil | |
3.6 | Repayment of borrowings | Nil | Nil | |
3.7 | Transaction costs related to loans and | Nil | Nil | |
borrowings | ||||
3.8 | Dividends paid | Nil | Nil | |
3.9 | Other (provide details if material) | Nil | Nil | |
3.10 | Net cash from / (used in) financing | Nil | 693 | |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 | Cash and cash equivalents at beginning of | 1,042 | 1,111 |
period | |||
4.2 | Net cash from / (used in) operating | (398) | (1,086) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | (26) | (97) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | Nil | 693 |
(item 3.10 above) |
ASX Listing Rules Appendix 5B (17/07/20) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
only
Consolidated statement of cash flows
- Effect of movement in exchange rates on cash held
- Cash and cash equivalents at end of period
Current quarter | Year to date (9 |
$NZ'000 | months) |
$NZ'000 | |
5 | 2 |
623 | 623 |
For personal use
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $NZ'000 | $NZ'000 | |
at the end of the quarter (as shown in the | |||
consolidated statement of cash flows) to the | |||
related items in the accounts | |||
5.1 | Bank balances | 517 | 945 |
5.2 | Call deposits | Nil | Nil |
5.3 | Bank overdrafts | Nil | (8) |
5.4 | Other (provide details) | 105 | 105 |
5.5 | Cash and cash equivalents at end of | 623 | 1,042 |
quarter (should equal item 4.6 above) |
6. | Payments to related parties of the entity and their | Current quarter |
associates | $NZ'000 | |
6.1 | Aggregate amount of payments to related parties and their | (45) |
associates included in item 1 | ||
6.2 | Aggregate amount of payments to related parties and their | (25) |
associates included in item 2 |
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.
The Company paid $45,007 for consulting services and director fees to companies in which directors and major shareholders have a substantial interest
The Company advanced $17,404 to Coromandel Gold Limited; a subsidiary of the Company. The Company advanced $8,472 to Rahu Resources Pty Limited; a subsidiary of the Company.
ASX Listing Rules Appendix 5B (17/07/20) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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New Talisman Gold Mines Limited published this content on 23 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2022 08:03:01 UTC.
