TLM issued a speeding ticket today. No news up 27%. Volume well over double usual buy in days. Sold out today in SM but still hold in RL(15%).

Quite a lot of discussion about copper shortages at the moment. TLM has 1000km2 at Mabel Creek in SA Gawler Craton with potential for copper- gold discoveries. No debt and funded from the iron ore royalty in the Pilbara which is significant at the current iron ore price.

Modern exploration techniques yielding further prospects.

Compelling New Drill Targets Identified From Geophysical Surveys at the Lachlan Project, NSW

Priority chargeable and conductive anomalies identified in areas known to host base and precious metal mineralisation; Drilling to be expedited in Q2/Q3 2023

The definition of new drill-ready anomalies reinforces Talisman’s exploration strategy of systematically narrowing the exploration search space to identify robust exploration targets.

“Our concurrent work streams of drilling, geophysics and geochemistry are starting to bear fruit in NSW. The identification of the priority Stella and Rip and Tear geophysical targets represents an excellent outcome from our systematic and methodical greenfields exploration approach. "

Another quarter where TLM royalties cover exploration costs. Some drilling results to come in the current quarter and the auger drilling program starts with initial on site results coming in over the next half. Still some delays due to lab delays and weather. Royalties will be lower going forward as the iron ore price is predicted to be decreasing over the near term.

Drilling commenced on 12 geophysical targets with mixed results. Some with no mineralisation to explain the anomaly others such as the Kaolin Shaft and Durnings prospects, visual base metal sulphides were encountered in all seven drill-holes. Talisman is awaiting assay return for these drill-holes at present, which are expected in May.

Analytical results for geochemical assays experienced extended turnaround times in 2022, with expected six-week assay returns being delayed by 3-4 months.

The auger drilling program is designed to test basement geochemistry across targets generated by regional geophysical surveys and is estimated to take 4-5 months to complete, depending on final hole depths across each program, with analysed samples providing a pipeline of ongoing geochemical anomalies for further work.

To allow for rapid target generation based on auger drilling programs, Talisman has partnered with Portable PPB Pty Ltd, an Australian private company holding the exclusive global licence to the CSIRO developed low-level gold by pXRF technology known as detectORE.

The technology is a fast, simple and robust process to enable the leaching, concentrating and detection of gold from a bulk sample at parts per billion levels with high precision using conventional hand-held XRF instruments, this will allow Talisman to return a fast (less than 12-hour turnaround) on-site preliminary gold and multi-element geochemistry result to guide real-time exploration, while still allowing follow-up geochemical analysis via commercial assay laboratories.

Held in SM and RL

Ongoing weather delays for exploration but drilling planned to start this month. Small cash inflow. Lower production and lower prices reducing royalties. SP has recovered a bit from its lows.

Over 9,000m of Reverse Circulation and 600m of diamond drilling planned, this overall program is expected to be the largest single drilling program to be undertaken by Talisman on the Central Lachlan Project. Talisman has submitted and received approval for the majority of this program with remaining approvals anticipated to be received early in the first quarter of calendar 2023.

Quarterly

16-7-2020:  Kerry Harmanis Appointed to TLM Board

Kerry Harmanis has owned 18.1% of Talisman (TLM) for a few years now, and could have got himself appointed to the board at any time, as their largest shareholder.  He was instrumental in getting a great outcome for TLM when SFR discovered Monty on TLM's land, and the sale of those tenements gave TLM shareholders (which included me at that time) a nice capital return as well as a generous special dividend. 

Kerry was also the guy who grew Jubilee Mines up from nothing to a $3.1 Billion company when he sold it to Xstrata in 2008.  I was a shareholder of Jubilee Mines at the time, and I had convinced my father-in-law to buy some shares also because they had been paying such good dividends and were very likely to get taken out by someone much bigger, which of course they were, by Xstrata, at the top of the market (nickel was absolutely flying at the time).  It was my father-in-law's best returning investment ever - he received 7 times his original investment.  He has now passed on, and I've had some better investments since, but I remember Kerry H well, and have a lot of respect for him.  In short, it's a positive that he's finally decided to take on a much more active role in TLM (as the new Board Chairman).

Further Reading:  Kerry Harmanis: Miner, meditator and mandolin player