Gavin Wendt

Talisman Mining (ASX:TLM) has $16m cash, a market cap of just $13m, with Sandfire Resources to spend at least $15m via a farm-in. Talisman Mining is a well-credentialed Portfolio exploration play that we've been following since mid-2011. Sandfire Resources (ASX:SFR) has commenced the first phase of ground-based exploration activities at its Springfield Project in Western Australia (an extension of the geology that hosts its DeGruss mine), involving sophisticated surface and down-hole electromagnetic surveying, as part of the farm-in joint venture. Talisman retains exposure to a potential minimum of $15m worth of exploration and appraisal expenditure at no cost, whilst maintaining $16.6m in cash reserves - all with a market value of just $13m.


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Gavin Wendt

That's it Rod, although the share price has taken a bit of a battering over the past 6 months as some investors have obviously grown impatient waiting for Sandfire to get cracking.

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James Marlay

interesting move on this one in the past few days. Looks like Sandfire are moving pretty quickly with their first diamond hole.

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James Marlay

From memory Gav they have spent quite a bit of time and money exploring the region already. I know it can take a long time for discoveries to eventuate - but they have given that Springfield project a good run so far. I guess it is all in context to the size of the land holding.

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