13 Sep 2013

New Talisman Gold begins share buying plan

7:32 am on 13 September 2013

New Talisman Gold Mines is embarking on a share purchase plan as part of its move to re-focus the business on gold production from exploration.

The funds raised from the share purchase plan will be used to initiate underground bulk sampling and evaluation at one of its mines, to meet safety and environmental requirements and relevant consents, and to fund working capital.

Under the plan investors can purchase shares up to the value of $15,000.

The issue price of the plan has been set at one cent per share, which is approximately 9% less than the volume-weighted average share price of New Talisman's shares traded on the NZX main board in the five trading days prior to the offer.