New Talisman secures processing plant for New Zealand gold mine

New Talisman Gold Mines (ASX:NTL) has agreed to terms for the purchase of an offshore processing facility, as the company looks to bring its Talisman mine in New Zealand into production.

On 31 May, the company signed a heads of agreement with Terra Firma Mining (TFM) for TFM to process Talisman ore and provide leasehold premises suitable for processing the ore. 

Under the conditional agreement, New Talisman must conduct a capital raising and a representative from the company must conduct a physical inspection of the plant. 

The company has paid a refundable 10% deposit to TFM to hold the agreement for 60 days. 

If the purchase proceeds, New Talisman has been given an estimated shipping time of seven to eight weeks, plus additional time for customs clearance. 

The processing plant operates using modular gravity separation and has a processing capacity of 100 tonnes per day. New Talisman says this is sufficient for its near-term production forecast. 

New Talisman is also in early discussions with refiners interested in producing dore bars from the concentrate the plant will be producing.

The processing plant will lie at the processing site that TFM is preparing for the company.

Further, New Talisman is awaiting a final decision for the Department of Conservation on its access arrangements to the Talisman Mine. 

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.