New Talisman issues ultimatum to shareholders in fund raise

New Talisman issues ultimatum to shareholders in fund raise
New Talisman plans to mine gold in the Karangahake Gorge. (Image: Glenn Jeffrey)
Greg Hurrell
New Talisman Gold Mines has told its shareholders to raise at least $2 million to bring its Karangahake Gorge mine into production – or else.The dual-listed company on July 9 gave a bleak warning.“If we cannot complete this capital raise, the board’s view is that there are very few options left for the company.”On July 3, New Talisman offered existing shareholders up to one new share for every share held on July 10 for $0.018 a share. Its shares were listed on the New Zealand Exchange (NZX) on July 9 at $0.0185. The...

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