New Talisman Gold Mines (ASX: $NTL) Quarterly Activities Report

New Talisman Gold Mines Limited (NTL) has released its Quarterly Activities Report for the quarter ended 31 March 2024. The report outlines key activities including the progression of the mine development plan, ongoing investigations for suitable processing sites, response to protest activity, and engagement with the Department of Conservation. NTL's ASX/NZX code is NTL, and it operates with a capital structure of 458,029,555 ordinary shares as of 31/03/2024.

Executive Commentary on Recent Developments

During the quarter, NTL has made significant progress in firming up the near-term mine development plan, particularly advancing the Mystery vein 200m to the North on the existing drive. The company has also been actively engaged in identifying suitable processing sites and responding to protest activity, where unfounded claims were made by former Green MP Catherine Delahunty. NTL has emphasized that none of the protest's stated concerns pertain to NTL and has received strong support from local police regarding the protest. Additionally, NTL has invested in increased site security to counteract vandalism and illegal mining occurring in the area. The company has also been in ongoing engagement with the Department of Conservation towards a Long Term Access Arrangement and Authority to enter and Operate, with the expectation of a decision in June. Despite the delays, NTL remains hopeful of a positive outcome and has identified debt funding options as a contingency. The company's concerns have been escalated to the new Minister of Conservation and the Minister of Resources, and NTL is ready to commence production once the long-term Access Arrangement is secured.

Summary of Quarterly Report and Outlook

New Talisman Gold Mines Limited (NTL) has made significant strides in advancing its mine development plan and identifying suitable processing sites, despite facing challenges such as protest activity and delays in securing long-term access arrangements with the Department of Conservation. The company remains optimistic about the potential for imminent production from the Talisman mine and has received strong support from local authorities. NTL is prepared to raise further funds once the long-term Access Arrangement is secured and has identified debt funding options as a contingency. The company's ambitions include considering the option of Fast Track Consenting for projects of national significance and maintaining viable revenue and cashflow budgets within its Strategic Plan. NTL anticipates the required consenting to be issued no later than the end of May 2024, at which point the company plans to complete a Capital Raise to fund its strategic plan. Despite the challenges, NTL's outlook remains positive, with the company's economic and social contribution to New Zealand holding significant potential, especially with the Gold price up more than 35% in NZD terms in the same period.