New Talisman Gold Mines shares halted after poor concentrate grade, financial shifts

NZX RegCo has approved a trading halt for New Talisman Gold Mines Limited ordinary shares, effective 1:52pm today, November 28, 2025. This decision follows the company's disclosure on November 19, 2025, that its first shipment of gold concentrate yielded a lower grade than anticipated, realizing US$21.7k.

For the six months ending September 30, 2025, New Talisman Gold Mines reported total revenue of $5,000, a 17% decrease from the prior comparable period. The net loss attributable to members increased to ($1,074,462), up from ($934,367) in the previous year. Net tangible assets per quoted equity security for the current period stood at $0.0238, up from $0.0160.

Leadership changes also occurred, with Terry Moynihan appointed as an independent non-executive director on November 3, 2025, while John Upperton resigned from his board and management roles on November 14, 2025, and Jane Bell was appointed interim general manager on November 17, 2025. The company's financial statements are prepared on a going concern basis, but acknowledge risks related to cash demands, variable production grades, gold price uncertainty, and the need for additional capital.