New Talisman Gold Mines has provided an update on its operations and strategic direction, revealing that initial gold grades achieved at its Mystery project have been below expectations.
The company's first shipment resulted in a net value of $21,700, leading to the need for short-term cashflow support.
New Talisman said it is currently in negotiations with potential investors and has received pledges for $550,000 in short-term funding, although the terms are yet to be finalised.
The company said this funding is contingent upon successful negotiations with long-term strategic investors.
As a result of the ongoing discussions, New Talisman has requested a new trading halt to ensure a fair and orderly market for its shares.
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