Talisman raises $8m

Talisman Mining has raised $8 million to fund ongoing work at its copper-gold and nickel projects.

The discounted placement of 17 million shares at 47 cents a share was undertaken to strategic, professional and sophisticated investors, managed by Bell Potter Securities.

Talisman’s managing director Gary Lethridge said that the funds raised would be used for future development.

“The funds raised will provide support for any potential future requirements for Talisman to contribute to joint venture funding at our Doolgunna copper-gold joint venture with Sandfire Resources NL, including the recent high-grade Monty discovery, to progress our growth strategy at the Sinclair nickel project and for working capital,” Mr Lethridge said.

Settlement is due to occur by July 16.

Trade in Talisman was flat at 53.5 cents a share at the time of writing.