Quarterly Activities Report to 31 Dec 2022 incl Cashflow

1

New Talisman Gold Mines
Limited

Responsible,
Environmentally
Sustainable Mining

ASX/NZX Code NTL
______________________

Commodity Exposure
GOLD and SILVER


Board

Samantha Sharif Chair/Independent Director

John Upperton Executive Director
Michael Stiassny Independent Director
Victor Rabone Independent Director

Jane Bell Company Secretary

Capital Structure
Ordinary Shares at 31/12/2022 3,198m


Share Price
Share Price at 24/01//2023 (NZX) $0.003
Share Price at 24/01//2023 (ASX) $0.003



New Talisman Gold Mines Limited

Address 2b Gibraltar Cres, Parnell,
Auckland
Phone +64 09 303 1893
Website
www.newtalisman.co.nz
Email info@newtalisman.co.nz

Market Announcement
For Immediate Release
New Talisman Gold Mines Limited (NTL) is pleased to present a report on
activities for the quarter ended 31 December 2022.
This quarter the company has again been fully focused on progressing our
Strategic Plan to bring the Talisman Mine to production.
During the quarter NTL progressed the following key matters.
• formally engaged Terra Firma to prepare the specific health and
safety plans for recommencement of operations at Talisman Mine.
This is a key milestone to be completed prior to our return to mining.
Terra Firma has significant knowledge of Talisman mine and has
experience in developing underground gold mines in New Zealand.
It is anticipated the documentation will be complete by the end of
January 2023.
• worked with Terra Firma and other key industry experts on the de-
velopment and review of the Strategic Plan for Talisman, mining
methodologies and budget. This plan aims to produce gold and
generate revenues in the second half of 2023, with positive cashflow
by late 2023.
• Finalised the Schedule of Works which includes formation of a Sec-
ond Egress in conjunction with a Bulk Sampling programme, adding
valuable knowledge of Talisman’s mineral resource.
• Identified Innovative and feasible mining methods to classify ore un-
derground, thus minimising the quantity of material to be removed
from the mine, and as a result improving our environmental footprint
and cost-e fficiencies.
• NTL’s goal is to produce a concentrate which can be refined to pro-
duce gold and silver bullion. NTL may process this concentrate our-
selves, or utilise third party refiners.
• Developed an Exploration Plan and high-level budget for the Santo
Exploration Permit in Vanuatu and provided that to experienced in-
dustry investors who have approached NTL with a view to working
together.
• Finalised our budgets to determine the additional capital required to
fund the development of Talisman, recommence mining and get to
gold production.
• Completed a review of Capital Raising methods open to the Com-
pany and determined that a Rights Issue would be the fairest to all
shareholders.
• Progressed the required documentation for the Rights Issue with the
intention now being to open the Rights Issue to Shareholders in Feb-
ruary 2023.

Quarterly Activities Report to 31 December 2022

2
During the quarter the Company paid $41,074 for director fees to companies in which directors
and major shareholders have a substantial interest. The Company paid $35,000 to John
Upperton in his capacity as Strategic Delivery Manager. The Company received a credit of
$2,302 from Coromandel Gold Limited(CGL) in relation to activities in Vanuatu; CGL is a
subsidiary of the Company. The Company advanced $280 to Rahu Resources Pty Limited; a
subsidiary of the Company.


Tenements
Talisman Mine – MP51326
Capella Vanuatu – PL1851

Page | 1




Current
Quarter
$NZ



Year to Date
(9 Mths)
$NZ



Nil

(5,007)
Nil
(4 44,578)
Nil
700
(26,072)
Nil
Nil



Nil

(3 8,230)
Nil
(929,679)
Nil
1,094
(26,072)
Nil
Nil
(474,957) (992,887)



Nil
Nil
Nil
Nil
Nil
Nil
(280)
2,302
Nil



Nil
Nil
Nil
Nil
Nil
Nil
(10,218)
2,302
Nil


2,022

(7,916)



Nil
Nil
Nil
Nil
Nil
Nil



Nil
Nil
1,000,000
Nil
Nil
Nil

Nil

1,000,000

(472,935)
963,121
425

(803)
492,507
(1,093)

490,611

490,611

APPENDIX 11 (Rule10.8.4)


QUARTERLY REPORT OF CONSOLIDATED CASH
FLOWS
NEW TALISMAN GOLD MINES LIMITED
For Quarter ended 31 Dec 2022
(Referred to in this Quarter as the "Current Quarter")


Quarterly Report of Consolidated Cash Flows in accordance with
Listing Rule 10.8.4. These figures are based on accounts which are
*unaudited. If these figures are based on audited accounts, a
statement is required of any material qualification made by the
auditor. The Mining Issuer *has a formally constituted Audit
Committee of the Board of Directors.


1. CASH FLOWS RELATING TO OPERATING ACTIVITIES
(a) Receipts from product sales and related debtors
(b) Payments for exploration and evaluation
for development
for production
for administration
* see annexure 1

(c) Dividends received
(d) Interest and other items of a similar nature received
(e) Interest and other costs of finance paid
(f) Income taxes paid
(g) Other (provide details if material)

(h) NET OPERATING CASH FLOWS



2. CASH FLOWS RELATED TO INVESTING ACTIVITIES
(a) Cash paid for purchases of prospects
equity investments
other fixed assets
(b) Cash proceeds from sale of prospects
equity investments
other fixed assets

(c) Loans to other entities
(d) Loans repaid by other entities
(e) Other (provide details if material) - Sale of share investments


(f) NET INVESTING CASH FLOWS


3. CASH FLOWS RELATED TO FINANCING ACTIVITIES
(a) Cash proceeds from issues of shares, options, etc
(b) Proceeds from sale of forfeited shares
(c) Borrowings
(d) Repayments of borrowings
(e) Dividends paid
(f) Other (provide details if material)


(g) NET FINANCING CASH FLOWS


4. (a) *NET INCREASE (DECREASE) IN CASH HELD
(b) Cash at beginning of quarter/year to date
(c) Exchange rate adjustments to Item 4(a) above



(d) CASH AT END OF QUARTER

Page | 2


Amount Available
$NZ

Amount Used
$NZ





Current Quarter
$NZ

Follo wing Quarter
$NZ

Nil

Nil

5,007

50,000

5,007

50,000


Current Quarter
$NZ

Previous Quarter
$NZ

135,611


108,121


250,000

750,000

Nil

Nil

105,000

105,000


490,611



963,121


5. NON-C ASH FINANCING AND INVESTING ACTIVITIES

(a) Provide details of financing and investing transactions which have had a material effect on consolidated assets and
liabilities but did not involve cash flows:

Nil....................................................................................................................................................

(b) Provide details of outlays made by other entities to establish or increase their shares in projects in which the reporting
entity has an interest.

Nil..............................................................................................................................................................................

.
6. FINANCING FACILITIES AVAILABLE


Provide details of used and unused loan facilities and
credit standby arrangements, adding such notes as are
necessary for an understanding of the position.


N/A................................................................................


..........................................................................................


..........................................................................................



7. ESTIMATED OUTLAYS FOR SPECIFIED QUARTERS



(a) Exploration and evaluation



(b) Development



TOTAL




* The outlays to be shown in this column are the estimates made for this quarter in the previous quarterly report. Where
these estimates differ by more than 15% from the actual outlays reported in Item 1(b) of this report, provide an
explanation of the reason(s) for these differences as an attachment to this report – see Annexure 1.

8. RECONCILIATION OF CASH

For the purposes of this statement of cash flows, cash includes:

Petty cash, Westpac cheque & savings accounts, ANZ accounts, NAB & Macquarie accounts.


Cash at the end of the quarter as shown in the statement
of cash flows is reconciled to the related items in the
amounts as follows:


Cash on hand and at bank



Deposits at call and Term Deposits



Bank overdraft



Other (provide details) - Bond



TOTAL = CASH AT END OF QUARTER [Items
4(d)/4(b)]





*

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Tenement
Reference

Nature of
Interest

Interest at
Beginning
of Quarter

Interest at End
of Quarter

a) N/A



b) N/A


9. CHANGES IN INTERESTS IN MINING TENEMENTS


(a) Interests in mining
tenements relinquished,
reduced and/or lapsed

(b ) Interests in mining
tenements acquired
and/or increased

(c) Where changes are
reported in (a) and/or (b),
an amended list of
interests in mining
tenements is attached to
this statement.

10. ISSUED AND QUOTED SECURITIES AT END OF CURRENT QUARTER

Category of Securities Number Issued Number Quoted Paid-Up Value Cents
PREFERENCE SHARES Nil Nil
ORDINARY SHARES

3,198,072,105 3,198,072,105
SHARES
Issued during current
quarter:
Nil Nil
CONVERTIBLE NOTES: Nil

Nil

Issued during current
quarter
Nil

Nil

OPTIONS:



Exercise Price / Expiry Date

Quoted
Nil Nil
Issued during current
quarter
Nil Nil
Expired during current
quarter
Nil Nil
Not quoted and not
transferable



Nil

Nil


Issued during current
quarter

Nil

Nil

WARRANTS:
Nil Nil
DEBENTURES – totals
only:
Nil Nil
UNSECURED NOTES –

totals only:

Nil Nil


Jane Bell (Company Secretary)
Authorised Officer of Listed Issuer
31 December 2022

Page | 4

Annexure 1

The December 2022 Quarter had some significant one off administrative costs associated with settlement of a
contractual dispute these amounted to $169,987. In addition the annual insurance amounting to $85,614 was paid
in the December quarter and a short term fixed contract was paid in the December quarter for Strategic Delivery of
$35,000. The ordinary ongoing administrative operating costs are approximately $185k per quarter.


List of interest in mining permits:

Talisman Mine – MP51326
Capella Vanuatu – PL1851