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29/6/2018 — Gold
NTL retracts scoping study statement

New Talisman Gold Mines Ltd (NZX & ASX: NTL) yesterday modified details about a scoping study for its Talisman Deeps gold-silver project at the Talisman mine at Karangahake.

NTL said the reported scoping study contains production targets and estimates of required investment and returns - including NPV calculations - for Talisman Deeps, based on 100% inferred resources.

The announcement set out the principal assumptions adopted, and addressed JORC code criteria. While New Talisman considers the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the scoping study will be achieved.”

New Talisman said the Australian Securities Exchange (ASX) had said that in its view the scoping study may not have a reasonable basis as it is not currently supported by an independent technical report, as contemplated by ASX guidance.

“Accordingly, after discussion with ASX, New Talisman wishes to advise that the scoping study announcement is retracted.

“Investors are advised to exercise caution to and should not make any investment decision based on the results of the scoping study.”

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