The financials for the half year to September shows the recent spend by New Talisman Gold Mines Ltd (NZX & ASX: NTL) on the re-development of the Talisman gold mine at Karangahake.

The figures show cash at bank at September end was $2.814 million compared to the same half year in 2017 that saw a capital raising that at that time put $4.37 M in the bank.

Apart from mine restoration, exploration and development New Talisman also purchased a subsidiary of Newcrest Mining that gave it full ownership of the Rahu gold prospect, along strike from the historic workings at Karangahake.

With mine development work New Talisman incurred a net loss for the half year of $672,082, compared with a loss in the corresponding half year’s loss of $561,332.