New Talisman raises $2.24 million, plans plant purchase

New Talisman Gold Mines has successfully closed its shortfall offer, raising an additional $438,000.

This amount, combined with the previously announced funds, brings the total raised via the right issue to $2.24 million.

The company's board expressed gratitude to existing shareholders and new investors for their support.

In a separate development, directors Richard Tacon and Samantha Shariff have applied for a further 170,000 shortfall, pending shareholder approval.

The successful capital raising has enabled New Talisman to proceed with the purchase of a processing plant.

Preparations are now underway to relocate the plant to the port for containerisation and shipping, with an estimated 10 to 12 week period for delivery.

The company will provide updates on the project's progress in the coming months.