1 Nov 2012

New Talisman Gold to use rights issue to raise capital

10:23 am on 1 November 2012

The gold miner, New Talisman Gold, is trying to raise $A1.2 million of capital through a rights issue.

The money raised will go towards developments on the Talisman Gold Project on the Hauraki Golf and general working capital.

The company aims to have a pre-feasibility study of the Talisman Project completed by March next year and says it has been approached by potential Chinese and Australian investors.

The rights issue allows shareholders to subscribe for one new share for every three shares held, at an issue price of one Australian cent.

Trading in New Zealand starts on 1 November.