Highlights

  • In December 2025 quarter, NTL signed a gold and silver concentrate offtake agreement with Ocean Partners UK covering 100% of production until 30 April 2026.
  • A contract with Melody Gold Australia was executed in quarter for lower grade ore and tailings removal, facilitating processing and transport at no cost to NTL.
  • A private placement raised AUD 725k, supporting working capital needs and upcoming operational plans.

New Talisman Gold Mines Ltd (NZE:NTL) declined by 13.64% to NZD 0.019 on 30 January, continuing a six-month slide of 68.33%. The pullback comes amid the company’s quarterly activities report, which detailed operational challenges at the Mystery vein, board and management changes, and plans for a strategic review and upcoming capital raise. Market response highlights investor caution despite the company securing key offtake agreements for gold and silver concentrate and initiating contracts for lower-grade ore and tailings.

Key Offtake Agreements

During the quarter, NTL formalised its commercial arrangements for its mineral output. The agreement with Ocean Partners UK (OCP) ensures that all gold and silver concentrate from the Talisman Mine will be purchased through April 2026, with provisional payments of 90% of estimated concentrate value and final pricing based on metal assays.

In addition, NTL partnered with Melody Gold Australia for the purchase of lower grade ore at 70% of the prevailing LBMA reference price. Melody Gold will also remove tailings from current and future stockpiles at NTL’s Talisman processing site, managing all transport and processing at its own cost. These measures optimise revenue from material that would otherwise be uneconomic to process. Shipments under both contracts are scheduled to commence in Q1 2026.

Mining Operations and Forward Planning

Mining at the Mystery vein presented operational challenges due to narrow accessways and vein variability, which complicates material movement and predicting vein trajectory. Operations were temporarily paused in early December to develop a targeted forward plan, including detailed technical analysis, a future drilling programme, and more efficient deployment of mining teams.

NTL also reported that a severe weather event in January 2026 caused flooding and slips in the Hauraki District, but inspections confirmed underground mine workings were unaffected, with only minor damage to access roads.

Corporate Updates and Capital Raising

The quarter saw several board and management changes. Terry Moynihan joined as an Independent Director, bringing extensive mining experience in New Zealand, Australia, and Papua New Guinea. Jane Bell was appointed interim General Manager while retaining her CFO and Company Secretary roles. John Upperton stepped down from Board and management positions in November 2025.

NTL completed a private placement raising AUD 725k, including AUD 679k cash, to support working capital and operational plans through February 2026. Director fees and payments to former management were partly settled via equity.

Tenements and Outlook

NTL holds interests in the Talisman Mine (MP51326) and Rahu (EP61017) tenements. The company is progressing a strategic plan review and is expected to launch a capital raise in early 2026 to fund the next stage of mining and exploration activities.