Shares in gold prospector New Talisman tumble on rights issue

Tue, 17 May 2016

By Edwin Mitson May 17 (BusinessDesk) - New Talisman Goldmines shares dropped 47% after the Coromandel gold prospecting company announced a rights issue to raise up to $12.2 million dollars. Investors will be able to purchase three new shares at a price of 0.5 cents apiece for every ordinary share they hold as of May 23. In a statement, New Talisman said the price reflects a significant discount to the NZX close price on May 16 of 1.5 cents. A shortfall facility means shareholders will be potentially able to buy more if they wish. New...

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