New Talisman Gold Mines (ASX: $NTL) announces rights issue offer document

New Talisman Gold Mines Limited (ASX: $NTL) has released the offer document for its upcoming rights offer to eligible NTL shareholders in New Zealand and Australia. The offer, made under NZX Listing Rule 4.3.1 (a) and ASX Listing Rule 7.2, exception 1, opens on Thursday 11th July 2024. The company seeks to raise a minimum of approximately NZ$2m of funds needed to bring Talisman into production and realize the potential value of the company for shareholders.

NTL Chair, Samantha Sharif, on the rights issue offer

NTL Chair, Samantha Sharif, expressed delight at the progress made towards production at Talisman Mine, attributing it to shareholder support and the efforts of the team. She highlighted the key elements in place for production, including access arrangements, an experienced mine operator, completed preparations, and conditional agreements on a processing plant and site. Sharif emphasized the importance of shareholder support to raise the necessary funds and the fair opportunity provided to all eligible NTL shareholders to participate in the offer.

Summary of the rights issue offer and outlook

The release of the offer document marks a significant step for New Talisman Gold Mines (ASX: $NTL) in its efforts to bring the Talisman Mine into production. The company aims to raise approximately NZ$2m to fund the final push to production, covering various essential aspects such as the purchase and installation of a processing plant, operating and stockpiling of ore, and regulatory compliance. The company's chair, Samantha Sharif, highlighted the importance of shareholder support and the fair opportunity provided to all eligible NTL shareholders to participate in the offer. New Talisman Gold Mines looks forward to the support of investors through this capital raise to provide working capital to realize its goal of production at Talisman Mine.