Preliminary Announcement – Full Year Results
| Current Reporting Period31 March 2014(12 months)$ | Previous Reporting Period31 March 2013(12 months)$ | Change% | |
| Revenue for ordinary activities | 139,295 | 11,791 | + 1,082% |
| Loss from ordinary activities after tax attributable to members of the listed issuer | 756,764 | 914,265 | -17% |
| No dividend attributed to this period. |
Revenue during the current reporting period includes a $127,726 gain on the sale of Armadale Capital PLC (ACP) shares acquired in exchange for New Talisman’s interest in the Mpokoto Gold project.
Tenement expenditure for the reporting period was $412,959 compared to $648,075 in the previous reporting period. No exploration expenditure was written off during the current or the previous reporting period.
Operating expenditure (before share of results of associate) was in line with the previous reporting period except for a foreign exchange loss incurred in the conversion of Australian to New Zealand dollars following capital raising.
At the end of the year the Company had a cash balance of $334,745.
HIGHLIGHTS OF THE YEAR
- Talisman Prefeasibility Study Supports Robust Gold Project
- Talisman Mine Access Arrangements and Resource Consents
- Talisman Mine Maiden Ore Reserve and Metallurgical Test Work
- Sale of Shares from Interest in Mpokoto Project nets 38% Return on Investment
The company holds a 21.7% interest in Broken Hill Prospecting Limited (BHPL) which owns the project.
PROJECTS
The quarterly activities report lodged with the exchanges on Wednesday 30 April provides investors with the latest update on the company’s activities on its projects. The company will update in the Annual Report any further activities.
Matthew Hill
Executive Director
+ 64 27 5557737
| Consolidated Statement of Comprehensive Income | Reporting Period31 March 2014 | Previous Reporting Period 31 March 2013 | |
| $ | $ | ||
| Revenue | 139,295 | 11,791 | |
| Total revenue | 139,295 | 11,791 | |
| Audit fees | 19,750 | 16,550 | |
| Depreciation | 1,093 | 1,103 | |
| Director fees | 75,000 | 72,022 | |
| Director remuneration | 254,424 | 225,753 | |
| Foreign exchange loss | 39,888 | 6,160 | |
| Share revaluation loss | 21,119 | 7,664 | |
| Rent and leasing | 14,154 | 14,517 | |
| Operating expenses | 326,931 | 318,093 | |
| Total operating expenses | 752,359 | 661,862 | |
| Loss from operations | 613,064 | 650,071 | |
| Share of results of associate using equity method (Broken Hill Prospecting Ltd) | 143,700 | 264,194 | |
| Net deficit attributable to members | 756,764 | 914,265 | |
| Earnings per share | |||
| Basic earnings/(loss) per share | (0.14) cents | (0.22) cents | |
| Diluted earnings/(loss) per share | (0.11) cents | (0.15) cents | |
| Consolidated Statement of Financial Position | Reporting Period31 March 2014 | Previous Reporting Period 31 March 2013 | |
| $ | $ | ||
| Cash | 334,745 | 325,880 | |
| Receivables and prepayments | 48,100 | 40,103 | |
| Advances to related parties | – | 156 | |
| Current assets | 382,845 | 366,139 | |
| Property, plant & equipment | 5,779 | 5,564 | |
| Intangible assets (prospecting expenditure) | 9,283,075 | 8,720,090 | |
| Investments | 7,770 | 340,007 | |
| Investment in associate using equity method | 528,760 | 672,460 | |
| Non-current assets | 9,825,384 | 9,738,121 | |
| Total assets | 10,208,229 | 10,104,260 | |
| Payables | 80,713 | 136,328 | |
| Employee entitlements | 12,947 | 16,063 | |
| Current liabilities | 93,660 | 152,391 | |
| Total liabilities | 93,660 | 152,391 | |
| Capital | 26,733,638 | 25,814,174 | |
| Reserves | 335,341 | 335,341 | |
| Retained profit/(loss) | (16,954,410) | (16,197,646) | |
| Total equity | 10,114,569 | 9,951,869 | |
| Total Equity and Liabilities | 10,208,229 | 10,104,260 | |
| Net tangible assets per security | |||
| Net tangible assets | 925,154 | 1,384,170 | |
| Net tangible assets per security | 0.17 cent | 0.3 cent | |
| Consolidated Statement of Cash Flows | Reporting Period31 March 2014 | Previous Reporting Period 31 March 2013 | |
| $ | $ | ||
| Cash flows relating to operating activities | |||
| Cash inflows | 11,510 | 12,781 | |
| Cash outflows | (726,459) | (737,966) | |
| Net operating cash flows | (714,949) | (725,185) | |
| Cash flows relating to investing activities | |||
| Cash inflows | 429,002 | 61 | |
| Cash outflows | (606,313) | (834,588) | |
| Net investing cash flows | (177,311) | (834,527) | |
| Cash flows relating to financial activities | |||
| Cash inflows | 1,014,932 | 1,838,226 | |
| Cash outflows | (87,691) | (293,398) | |
| Net financing cash flows | 927,241 | 1,544,828 | |
| Net increase/(decrease) in cash held | 34,981 | (14,884) | |
| Cash at beginning of period | 325,880 | 346,921 | |
| Exchange rate gain/(loss) | (26,116) | (6,157) | |
| Cash at end of period | 334,745 | 325,880 | |
| Consolidated Statement of Changes in Equity | Reporting Period31 March 2014 | Previous Reporting Period 31 March 2013 | |
| $ | $ | ||
| Equity at start of period | 9,951,869 | 9,321,354 | |
| Net loss | (756,764) | (914,265) | |
| Shares issued | 919,464 | 1,544,780 | |
| Equity at end of period | 10,114,569 | 9,951,869 | |
| Ownership in Broken Hill Prospecting Ltd | |||
| Percentage held | 21.7% | 21.7% | |
| Contribution towards / (against) net loss | 143,700 | 264,194 | |
| These annual financial statements are subject to completion of the audit. No dividends or distributions were paid or are planned. | |||
| All statements are prepared in accordance with New Zealand equivalents to International Financial Reporting Standards. | |||
| There are no accounting policies which the directors believe are critical to the portrayal of New Talisman’s financial condition and results which require the directors to make judgements and estimates about matters that are inherently uncertain. | |||
| All accounting policies have been applied on bases consistent with those used in previous years. | |||
Download SX Release 2 May 2014 PreliminaryFinal