Preliminary Final - Full Year Results

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 Period****31 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 Period****31 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 Period****31 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 Period****31 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