Strategic Plan and Proposed Issue of Convertible Notes

New Talisman Gold Mines Limited (NTL) has announced its Strategic Plan and proposed issue of Convertible Notes to fund the plan.

The plan includes recommencing underground activities at the mine, advancing the Mystery Vein shaft, opening a second face on the Mystery Vein once the Second Egress is complete and funding the implementation of the Traffic Management Plan and Resource Consent application for Full Mining Consent.

NTL is seeking to raise up to $3.5m from eligible and wholesale investors in a private placement of Convertible Notes, with $1m already pledged.

Shareholders will vote on the proposal in the second half of June.