Mine gets Chinese backing

CATHERINE HARRIS
Last updated 14:55 13/12/2013

Relevant offers

Industries

Sephora NZ customers left in dark with undelivered orders and no customer service Workshop gives girls a taste of engineering career Auckland house prices stop rising in November, Barfoot & Thompson says Commerce Commission to take three firms to court over steel mesh Sky and Vodafone agree to delay merger decision Hellaby final takeover price up to $3.60 What NZ firms can learn from Deloitte Fast 50 companies Records fall as New Zealand's new vehicle sales accelerate Springload hosting first NZ Django Girls coding workshop NZ water parks after Dreamworld tragedy: Splash Planet busy, Waiwera plans upgrade

Dual-listed junior mining firm New Talisman Gold Mines says it has Chinese backing to kickstart its mining project near Waihi.

New Talisman, formerly Heritage Gold, has signed a heads of agreement with St Albans Pty Ltd, a special purpose vehicle set up by undisclosed Chinese investors to fund a feasibility exercise at the Talisman mine.

The Chinese will inject $10.9 million in return for 65 per cent after costs of all the gold and silver extracted from the pre-feasibility reserves.

The deal is subject to due diligence and New Talisman shareholder approval.

New Talisman's shares were up 36 per cent to 1.5c in mid-afternoon trading.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content