# TLM - Talisman Mining



## sydneysider (2 October 2007)

TLM - Talisman has issued 47,545,000 publicly trading shares and 12,959,000 unlisted shares. 22,632,000 publicly traded oppies and 6,900,000 unlisted oppies. 

The company has a number of Western Australian properties mainly in the Pilbara. Its Wonmunna property is currently attracting speculative buying built around the potential to prove up very substantial quantities of iron ore. Channel Iron Deposits and deeper Hematite targets are measured at 100 million tonne potential and are currently being drilled. Location of this target ajoins two rail lines and a highway and is surrounded by major iron ore deposits. 

TLM could possibly be compared to BCI - BC Iron before it took off and their targets were about half the size (or smaller) than the TLM Wonmunna targets. BCI is at $1.45 and has issued 54,000,000 shares and 4,800,000 oppies. TLM is currently at 40 cents and has risen quickly from under 20 cents


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## Pat (10 October 2007)

TLM is definately an interesting stock sydneysider.
The oppies have moved a bit the last few days and now at premium to the heads. These guys seem to be surrounded by the big guys I guess it's just a matter of time.


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## Pat (10 October 2007)

Well a super strong close, I managed to pick some up at 38 cents today.
Where have all the sellers gone??? Thinly traded stock thats for sure. Any ASFers on this one?
Looks like the SP wants to hug the top bollinger band and continue the run after a little bit of a cool off from some crazy up's.

These guys have an estimated 100mt+ of marra mamba in the heart of the Pilbara. Over looked by the market IMO.


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## sydneysider (11 October 2007)

Pat said:


> Well a super strong close, I managed to pick some up at 38 cents today.
> Where have all the sellers gone??? Thinly traded stock thats for sure. Any ASFers on this one?
> Looks like the SP wants to hug the top bollinger band and continue the run after a little bit of a cool off from some crazy up's.
> 
> These guys have an estimated 100mt+ of marra mamba in the heart of the Pilbara. Over looked by the market IMO.




I was also watching the close yesterday and it was very strong. Will be interesting to see where this one goes. It has iron ore potential that goes into the hundreds of millions of tonnes. This is based on their recent presentation on their web site and the recent announcement about their just completed drill program. In terms of market cap it has multi bagger potential (see earlier postings). IF this one goes into "play" it may fly.


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## Pat (11 October 2007)

sydneysider said:


> I was also watching the close yesterday and it was very strong. Will be interesting to see where this one goes. It has iron ore potential that goes into the hundreds of millions of tonnes. This is based on their recent presentation on their web site and the recent announcement about their just completed drill program. In terms of market cap it has multi bagger potential (see earlier postings). IF this one goes into "play" it may fly.



Yes! I saw the value of TLM too, thats why I got my small package. Now to just sit back and watch the fight. Glad I bit the bullet and got in yesterday 
Still not much interest from ASFers... maybe there aren't enough shares to go around? Not much TMLO for sale either.


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## Pat (11 October 2007)

Shezes, I didn't see that move comming, 25% gain today! TLMO is going nuts this week. Can someone tell me why the oppies are so sought after when such a premium is/was being paid?


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## dj_420 (11 October 2007)

Well the cats out of the bag now!

I would suggest the oppies are commanding such a good premium as they have a super long expiry, 2010. 

I have put up this detailed map of the area that TLM has and its surrounding neighbours. Almost all of the neighbours are majors and TLM actually has a vary large tenement in comparison to some of the others.

This area mind you is in the very heart of the Pilbara.

TLM have had some good drill hits on an exploration drilling campaign 

http://imagesignal.comsec.com.au/asxdata/20070928/pdf/00764161.pdf

The avg is around 12 metres deep with some nice 18 metre hits there at good grades. It is also noted that at the depth of each hit is a higher grade core. These were some good results on the marra mamba outcrop.

Also from recent announcements:

"It is significant to note that Poondano, from their limited drilling, estimated an area of
mineralised Marra Mamba, open in all directions, of 1.5km x 0.5km with an average of 15.7m
@ 58.8% Fe. This is a very significant starting point for an aspiring junior iron ore company."

If we take an estimate of this area we could get a potential 1500 x 500 x 15 x 58.8% = 6 615 000 cubic metres, times that by the density of fe which is 3.5 tonnes per m cubed and we get 23 million tonnes of DSO. Or as the resource companies would put it 40 million tonnes at 58.8% fe. This figure of course is a back of envelope figure. If any figures are incorrect please feel free expand.

I would suggest however this is a great start to any junior drilling campaign. Recently 2000 metres of drilling has been completed and assays are expected back around November.


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## Pat (11 October 2007)

dj_420 said:


> Well the cats out of the bag now!
> 
> I would suggest the oppies are commanding such a good premium as they have a super long expiry, 2010.
> 
> I have put up this detailed map of the area that TLM has and its surrounding neighbours. Almost all of the neighbours are majors and TLM actually has a vary large tenement in comparison to some of the others.



What cat would that be DJ? A scruffy maingie one?
Has the market awoke form it's slumber?
Depth is looking stronger and stronger, a lot of demand at the moment!


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## dj_420 (11 October 2007)

Considering the run all the other iron ore stocks have had of late, and on _rock chip samples _mind you. I would consider TLM to be a great play.

They have proven drill hits, some good areas for exploration, awaiting drill results, surrounded by majors, small market cap, etc etc.


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## sydneysider (11 October 2007)

dj_420 said:


> Considering the run all the other iron ore stocks have had of late, and on _rock chip samples _mind you. I would consider TLM to be a great play.
> 
> They have proven drill hits, some good areas for exploration, awaiting drill results, surrounded by majors, small market cap, etc etc.




Great work on the map. The address is very impressive, the Double Bay of iron ore. Look at the neigbors. IMHO we are going much higher.


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## roland (11 October 2007)

In at 0.53 out at 0.57, very happy with that. Thanks for the heads up today from the forum guys and gals - great day!!!


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## Pat (11 October 2007)

I thought a speeding ticket was in order.
Of course we got the usual response.
Why the sudden interest.
TLM has had some big (crazy) up days. I suppose it's the lack of liquidity that contributes to such days.
I'll be holding this for a while, reminds me of UMC. I'm not making the same mistake twice. Patience is a vitue I must practice.


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## dj_420 (12 October 2007)

TLM presentation highlights massive potential for significant iron ore discovery. Also shows the proximity of the nieghbours adjoining their tenement.

Some good hits in the past and assays due next month. IMO this one could be the next YML.

Also states they have the potential for 250 mt of DSO.


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## dj_420 (13 October 2007)

Just to highlight the resource potential on TLM tenements.

In the ann on the 14/08/2007 it states:

"It is significant to note that Poondano, from their limited drilling, estimated an area of mineralised Marra Mamba, open in all directions, of 1.5km x 0.5km with an average of 15.7m @ 58.8% Fe. 

This is a very significant starting point for an aspiring junior iron ore company. It is readily apparent that Talisman has in its possession a significant iron ore project, with excellent potential for the definition of a mineable resource."

Now is we take those esimated figures we get 1500 x 500 x 15.7 = 11 775 000 x 3.5 tonnes (density of iron ore per metre cubed) 

= 41 200 000 tonnes at grade of 58.8% fe.

Now this is just on the Northern marra mamba section of the tenement.

In the latest ann regarding the completion of the drilling program TLM stated:

"The eastern most drill traverse located a concealed palaeochannel which, in the drill ltraverse, is up to 35 metres deep and greater than 600 metres wide. 

This channel has infill of CID, including pisolitic iron and clay layers, and is probably the western extension of the high-grade CID outcropping, off lease, approximately 4 kilometres to the northwest. 

It would appear, from this work, that this newly discovered CID channel has a minimum length of approximately 3 kilometres within the project area."

This North Eastern deposit is up to 35 metres deep 600 metres wide and potentially 3 km long. It would be premature to estimate how much ore could be in that target although this area was targeted in first round drilling which saw grades of 57.3% in the direct vicinity.

This is a fantastic intial target and the company has stated:

"Although thus limited, and although no drill evaluation of the Southern or Eastern Marra Mamba has yet been completed, it is believed that this first pass drilling is of sufficient scope to define the overall potential of the project area to host commercial iron ore mineralisation."

This shows the commerical potential of just the north eastern CID. So there are at least 2 highly prospective targets which will be targeted as long as pending drilling results warrant a further round of drilling and begin resource delineation.


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## evwatkins (13 October 2007)

Thanks for the info Dj i have been reading up on this company in the past few days, its seems this could have some potential behind it. I will be considering a purchase over the next week or so.


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## dj_420 (13 October 2007)

Also interesting to note the TMI for the TLM tenements. On these charts red represents areas of the earths crust that have high concentration of magnetic minerals.

You notice on TLM chart that almost the entire 1/3 or the eastern part of the tenement has high concentration of red indicating a continuation of the CID outcropping channel from the north east off the tenements.

From the last ann they had discovered a hidden CID channel within the area highlighted.


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## dj_420 (15 October 2007)

Nice opening today on TLM, interesting to note that even after it has run 100% there were still very few sellers.

Looking forward to drill results on that north esatern section of the tenement.


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## sydneysider (15 October 2007)

dj_420 said:


> Nice opening today on TLM, interesting to note that even after it has run 100% there were still very few sellers.
> 
> Looking forward to drill results on that north esatern section of the tenement.




TLM is looking very strong again and just touched 92.5 cents. There is no sell off..just quite periods a few shares change hands.....i have posted several charts at the "break-out" thread which does a minute by minute count...it really points up the lack of sellers.


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## yuyry002 (15 October 2007)

Is this one gonna stop? I was hoping to grab some if it retraces. Looks like I'll have to wait a while.


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## dj_420 (15 October 2007)

yuyry002 said:


> Is this one gonna stop? I was hoping to grab some if it retraces. Looks like I'll have to wait a while.




Yeah chart does look a little scary, I think a retrace to 70 odd cents is on the cards. A 100% run in less than a week, there should be some substantial profit takers coming out of the woodwork by now.


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## Pat (15 October 2007)

There should be plenty of sellers. and they did take it down to 77 cents but it was back up to the 90 cents in a flash. Still looks like the buyers have the upper hand here, but the sellers are catching up... and fast. As always we shall see what tommorrow brings.


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## moses (16 October 2007)

In the short term (like, today) it might be time to take profits. But with the sudden spikes characterstic of this stock anything could happen by next week.


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## wipz (16 October 2007)

Can someone please check out the latest announcement (speeding ticket) and have a look at TLM responses and ore quantities and give some comparason to other iron ore miners/explorers to give us a feel as to were this baby sits price wize.
tks


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## sydneysider (16 October 2007)

wipz said:


> Can someone please check out the latest announcement (speeding ticket) and have a look at TLM responses and ore quantities and give some comparason to other iron ore miners/explorers to give us a feel as to were this baby sits price wize.
> tks




TLM are talking massive size. They have identified CID potential of 112.5 million tonnes, Marra Mamba of 160.0 million tonnes and all of this from earlier work and drilling. Seems like they did NOT comment on the CID potential in the NE corner of their block which they have just drilled. Seems like this is an extra and is 35 m deep, 600 m wide, +3,000 m and my speculative interpretation at a gravity of 2.5 tonnes per cubic meter = 157.5 million tonnes of CID potential. The total number is 430.0 million tonne potential. This is VERY LARGE. Assuming a profit of $10 tonne of ore, long term cashflow after deduction of all costs would be $4.3 billion. These are very spec numbers. Current valuation is $52,700,000 at 85 cents so the upside is enormous.


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## dj_420 (17 October 2007)

Yes there is absolutely massive potential here, I think this is why the sp has not retraced too much. Absolute elephant ground with some very very good targets.

If we compare to UMC who has market cap of well over $150 million now without any previous drill results we can see what TLM could be trading on comparing to peers.


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## sydneysider (17 October 2007)

On a comparative valuation to UMC we are talking about $3.00 per share for TLM BUT this does not truly reflect the valuation of the TLM tenements, at this stage we are speculating. The fact that TLM is prepared to put its "target potential" in a letter to the ASX and not get slapped down is only confirming to me that we are potentially in elephant country. The technicals continue to run "bullish" with very very few sellers around. Good luck to all longs.


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## YOUNG_TRADER (17 October 2007)

I completely missed this one and its one of my biggest regrets ever! 

Given the companies estimates and the fact that the projects are 100% owned, I see some very serious upside in this company,

However of equal importance is the sharp run up in the share price, this worried me and has had me waiting on the sidelines for a re-trace, a re-trace which hasn't come yet,

So greed has got the better of me and I've waded in for a few, not many given the huge price spike, but a few


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## sydneysider (17 October 2007)

YOUNG_TRADER said:


> I completely missed this one and its one of my biggest regrets ever!
> 
> Given the companies estimates and the fact that the projects are 100% owned, I see some very serious upside in this company,
> 
> ...




Welcome to the thread Daytrader. There is very little stock left to trade in this one at under 90 (if any). There have been small amounts of stock coming into the market each day but that volume runs 500,000 to 1,000,000 shares per day and it is ALL soaked up. Carmichael's floated TLM and have been buying up lots of the dribs and drabs hitting the market. Good luck waiting for the pullback. I think u just need to close your eyes and pay up on this one if u want the ride that may be coming.


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## canny (17 October 2007)

YT - I'm with Sydneysider - just be happy that you're in now!

The potential here could make YML look small!! (price tag potential too)
(Just left you a question on the YML thread, but you can answer it here if you like)

If you run some numbers, which I know you're good at, you'll probably scare yourself....and I{"d love to see what you come up with - the company presentation highlights a lot - and we've only got roughly 3 weeks to results.
Can't see any pull back from here personally - too many people are seeing the signs.

Cheers


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## yuyry002 (18 October 2007)

someone just bought 150k at 90cents.wonder who that was.there is still no sign of retrace. still waiting


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## Pat (18 October 2007)

Yes no sign of a retrace... but the run is taking a healthy breather.

Can anyone confirm the exercise price of the options? I've had a look and it would seem the exercise price is 20 cents. As per the quarterly that shows 17million oppies or so. There is a small amount of oppies out there with an exercise price of 25 cents so I'm assuming that these are not the traded options.
If this is the case, the oppies are now trading at a discount. I got in at open at a price of 65 cents, essentially picking up heads at 85 cents.

Am I wrong? If so, why is this being overlooked?


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## dj_420 (18 October 2007)

Pat said:


> Yes no sign of a retrace... but the run is taking a healthy breather.
> 
> Can anyone confirm the exercise price of the options? I've had a look and it would seem the exercise price is 20 cents. As per the quarterly that shows 17million oppies or so. There is a small amount of oppies out there with an exercise price of 25 cents so I'm assuming that these are not the traded options.
> If this is the case, the oppies are now trading at a discount. I got in at open at a price of 65 cents, essentially picking up heads at 85 cents.
> ...




Hey Pat

Thos oppies are exercisable at 20 cents. I believe the rest are in escrow for release at a later date.

So yeah at the moment the oppies are trading at a bit of a discount to the heads. I picked up some today at 66 cents.

I have been looking through Doir for a similar company with such fantastic tenements and I cannot for the life of me find one that offers so much potential.

Within the heart of the Pilbara the only juniors operating in there are UMC and TLM. The sp of these two now reflect the potential that both these aspiring companies hold.

TLM in particular has a massive amount of land in their tenement even compared to the majors! Something quite significant I thought.


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## dj_420 (19 October 2007)

I have drawn up another map regarding surrounding tenements and it is noted that where the best targets are on TLM tenement are actually extensions from other mining leases.

On this tenement map the mining leases are ones in blue, the exploration leases are ones in purple.

It is shown that the best extensions have come from the north from the RIO lease. These CID can typically run for many km's and are usually very large exploration targets.

I would expect these deposits are extensions from both RIO and Cazaly leases. The main point is that the TLM tenements have various majors around them who are intending to mine or are mining on those adjoining tenements.


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## dj_420 (19 October 2007)

Map didnt attach properly, here is the TLM tenement map with surrounding mining leases.

Im having problems attaching map, Ill just keep trying to get it up.


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## ekman (19 October 2007)

Pat said:


> Yes no sign of a retrace... but the run is taking a healthy breather.
> 
> Am I wrong? If so, why is this being overlooked?




imo the oppies being so far away form conversion date may be the reason for the discount. they generally would be at par maybe within a year from the conversion date. i maybe wrong


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## Pat (19 October 2007)

ekman said:


> imo the oppies being so far away form conversion date may be the reason for the discount. they generally would be at par maybe within a year from the conversion date. i maybe wrong



I know what your saying, however, when TLM was trading at 36 cents approx, the heads came at a premium. If I remember correctly, options where trading at 20-22 cents.


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## gfresh (19 October 2007)

You can excise or sell the options at any time.. essentially current TLM: $0.88.. TLMO: $0.65

$0.65 + 0.20 (excise price) = $0.85 - oppies are trading at 3c discount to the heads. Buy the oppies , although SP is coming down today so just keep an eye on that. 

A lot of people are unfamiliar with options so maybe this is why they are currently trading at the discount? -- https://www.aussiestockforums.com/forums/showthread.php?t=7639&highlight=options


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## Pat (23 October 2007)

TLM seems to be looking good if your long term, for the moment i'm out as I have reservations regarding the "health" of the market at the moment. But i'll be keeping a close eye on this one, good luck to longs


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## YOUNG_TRADER (24 October 2007)

Well is this thing ever going to retrace?

"Black monday" saw a very small fall to 75c support, then Tuesday saw a strong bounce back up to 90c


I love the fundamentals of this and I really really want to have a big position, but this chart scares the hell out of me!

Techies what do you see happening next?


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## roland (24 October 2007)

YOUNG_TRADER said:


> Well is this thing ever going to retrace?
> 
> "Black monday" saw a very small fall to 75c support, then Tuesday saw a strong bounce back up to 90c
> 
> ...




I'm in at .60, stupid me sold at .59 - I could even be tempted to buy in at .70, but the chart scares me as well.


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## Pat (24 October 2007)

YOUNG_TRADER said:


> Well is this thing ever going to retrace?
> 
> "Black monday" saw a very small fall to 75c support, then Tuesday saw a strong bounce back up to 90c
> 
> ...



Depends what the markets do YT...IMO, I think its a bit too unstable ATM. It's had a great run and if it keeps on going so be it, as you know, it's a very spec play, much more so now as there is quite abit of downside.
Anyway dude, your on several other co's that have made similar gains, you can't win em all. Or can you?


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## dogwithflees1983 (26 October 2007)

Just noticed that TLM has dropped back to 77c, i bought in at 90c, and it looks like a good buying oppportunity!! 
It dropped back to 80c on monday then bounced back strongly to 91c tuesday.

Any thoughts on why the share has dropped?


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## sydneysider (26 October 2007)

dogwithflees1983 said:


> Just noticed that TLM has dropped back to 77c, i bought in at 90c, and it looks like a good buying oppportunity!!
> It dropped back to 80c on monday then bounced back strongly to 91c tuesday.
> 
> Any thoughts on why the share has dropped?




We are waiting on drill results due shortly. Profit taking has been very lite and mostly very steady. At current levels IMHO TLM is a very asture buy. The presentation and PR on the TLM website clearly defines their iron ore targets as "potentially sized" in the multi-hundreds of millions of tonnes. IF drilling results bear out this potential the SP will be a 5-10 bagger. TLM should be preparing drill pads and access right now for drilling in late November and continuous thereafter for proving up of a resource. I understand from internet chatter that the drilling company has a stake in TLM so I would imagine that they would be very keen to get back to drilling. But then why would the drill company be so keen?


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## Hakkers14 (30 October 2007)

Breakout to $1.04, stong buy support for both heads and options... on a day when the asx not doing much...looks like some action to come..


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## sydneysider (30 October 2007)

Hakkers14 said:


> Breakout to $1.04, stong buy support for both heads and options... on a day when the asx not doing much...looks like some action to come..




Read the quarterly report that came out on Friday. IMHO based on the information provided by TLM there is a speculative case for + one billion tonnes of iron ore over four target areas on their lease. West Angeles is 10 kms West AND on strike of TLM with 924 million tonnes of iron ore THEN Hope Downs 400 MT and Area C with 820 MT 13 and 20 kms North of TLM. That is a total of 2.14 billion tonnes of iron ore being mined right next to the TLM lease. FMG only has 1.1 billion tonnes at the moment. 

FMG market cap $13.8 Billion
TLM is $87.36 million. Good luck to all longs


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## adobee (30 October 2007)

Damb ! this closed at 1.22  ... i thought I would buy today when it retraced a bit like everything else..  come back my orders not filled and its up 40% on open ..... this is becoming a familiar story form me !!!


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## Pat (30 October 2007)

Well a continued run, WOW!!! Have the drill results leaked? Theres drill results? Anyway, never mind, I am confortable to sit back and watch the outcome. I wonder if this is somewhat overheated, so much downside now. good luck to all longs, I hope this is the next FMG for all holders. Just to teach me some patients, and how to hold a stock...


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## michael_selway (30 October 2007)

sydneysider said:


> Read the quarterly report that came out on Friday. IMHO based on the information provided by TLM there is a speculative case for + one billion tonnes of iron ore over four target areas on their lease. West Angeles is 10 kms West AND on strike of TLM with 924 million tonnes of iron ore THEN Hope Downs 400 MT and Area C with 820 MT 13 and 20 kms North of TLM. That is a total of 2.14 billion tonnes of iron ore being mined right next to the TLM lease. FMG only has 1.1 billion tonnes at the moment.
> 
> FMG market cap $13.8 Billion
> TLM is $87.36 million. Good luck to all longs




i thought FMG had close to 2 Bill?

Are we talking about reserves or resources?

thx

MS

"Talisman Mining Ltd is a Perth-based precious and base metals explorer with a geographic focus on the northwest of Western Australia.

 Listed on the Australian Stock Exchange on November 25, 2005, Talisman is managed by a team of professionals with extensive experience in mineral exploration, mining, project finance and corporate management, and is well positioned to deliver wealth to shareholders through discovery and sustainable development of mineral resources.

Talisman’s primary objectives are:

1.
 to evaluate the iron ore potential of the Wonmunna project, Hamersley Basin, Western Australia with a view to participate and the buoyant Global iron ore market.

2.
 to evaluate the company's concept for World””class copper-zinc-gold-silver mineralisation in the previously unevaluated Hamersley Basin.

3.
 to continue to add to the Company’s gold resources in the Gascoyne Region, Western Australia, with a view to becoming a profitable gold producer at the earliest opportunity.

4.
 to continue to evaluate other suitable mineral opportunities as they become available."


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## Spaghetti (31 October 2007)

Regarding the response to ASX price query response today does anyone feel this company is perhaps a bit dodgy?

They did not hold back from announcing huge potential but have held back on drill results that appear to be poor?

And why disclose that they are in talks with an investor in this announcement, again seem to be talking up potential so why hide the facts?


Want to believe in this company but.............


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## UPKA (31 October 2007)

Spaghetti said:


> Regarding the response to ASX price query response today does anyone feel this company is perhaps a bit dodgy?
> 
> They did not hold back from announcing huge potential but have held back on drill results that appear to be poor?
> 
> ...




from the announcement, the drill results have been delayed till late Nov oppose to early Nov announced in the last ann. didn't really explain why it is delayed, could be because of delays at the labs? but I think TLM has ran ahead of itself, need a breather now


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## Spaghetti (31 October 2007)

UPKA

No they have the results but managment feel they are insignificant and will not release to the market, so the drill results that were due will not be disclosed.


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## drasicjazz (31 October 2007)

how do you know for a fact that they already have the results and that they are significant?
and why would they wait?

cheers


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## YOUNG_TRADER (31 October 2007)

I suppose its all a mater of perspective really,

You see I actually interpreted their response to mean that the results that have been received are very positive and may over emphasize the potential of the project, 

Why did I come to this conclusion? Because after being in the game for so long I have realised that insiders are very prevelant in the mining sector and even more so towards the junior end, something caused yesterdays huge spike and regardless of any conspiracy theories etc, there was some serious buying at the start which broke the 75c to 95c channel, so I ask why?

Why would insiders buy up big on the back of poor results?

This stock totally blind sided me, it was DJ who first alerted me to it a few weeks back, however the stock had already done a meteoric rise, I bit the bullet and eventually paid up and bought a couple 100k opies at 60c, 

While this may retrace/consolidate blah blah, I do see serious long term potential, given the sheer upside of their projects and thus will hold and ignore the noise so to speak

From some very basic calculations and based on prior drilling it would seem they have at least 30Mt's of Fe grading 60%+, This alone at $5/t warrants a $150m mkt cap = $1.65ish

The upside could be 200Mts-400Mt's@57%-58%Fe for comparatie mkt cap potential look at the mid tiers with this sort of resource

While there is a long way to go for this company the upside is huge.

I should add I was hesitant to post about TLM much because of the huge sp rise

p.s. Why is the company dodgey if they tell the market they are in potential discussions with an investor? It could be a Chinese partner which may also explain the buying yesterday, isn't it only right that the mkt know of these possibilities and not just the insiders?


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## Spaghetti (31 October 2007)

drasicjazz said:


> how do you know for a fact that they already have the results and that they are significant?
> and why would they wait?
> 
> cheers




Insignificant, not significant, and I say that because the annoucement said they felt the results were insignificant.


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## sydneysider (31 October 2007)

Spaghetti said:


> Insignificant, not significant, and I say that because the annoucement said they felt the results were insignificant.




A lot of these announcements are done with the wording approved by company lawyers. Why? because TLM is on its fourth speeding ticket (from memory). IMHO the use of the word "insignificant" is really meant to say " read our results in context of the totality of drilling" the whole issue of iron ore assays is the grade AND extent of depth and distribution. A few holes into a billion tonne target is really insignificant...if you get my drift...and here i am being very very speculative...


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## Spaghetti (31 October 2007)

Hi Sydneysider, 

I may be reading too much into it. I read that the drill results could not have contributed to the s/p increase if they had been released, suggesting to me not very good. However they did state in their presentation that due to native agreements they could only drill along pre-existing tracks so they were limited where they did drill. May have been better to wait and hit better targets!. However they did state they would be able to tell if they had commercial quantities from these preliminary results so wonder now, a little. Have written them just to clarify a point, see how they respond.

cheers


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## YOUNG_TRADER (1 November 2007)

Well I think TLM is trading amazingly well given the share price run up, I am glad I bit the bullet and picked up the opies at 60c

My guess is that the stock will *range between 95c and $1.35c* as there seems to be plenty of buyers for it, 

If the stock does hold the 95c - $1.35c range, it will be very very positive for future SP moves, (See charts for reference)

I'm waiting for drill results + who this mystery investor is, originally I thought Chinese, but then remembered they usually only JV etc once JORC is there, so I thought who else and thought Talbot is a possibility,


Also I have heard that the stock is being accumulated by a Perth Broker, however I cannot confirm this yet


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## CanOz (2 November 2007)

A view of TLM from Tradeguider's perspective. The text bubble is referring to the red square just above the last trust. Pretty thin traded stock, but its falling back on lower volume so not generally a bad thing.

Pretty bullish until some key support levels are taken out.

Cheers,


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## YOUNG_TRADER (2 November 2007)

YOUNG_TRADER said:


> Well I think TLM is trading amazingly well given the share price run up, I am glad I bit the bullet and picked up the opies at 60c
> 
> My guess is that the stock will *range between 95c and $1.35c* as there seems to be plenty of buyers for it,
> 
> ...





Amazing, simply amazing, the mkt is getting slaughtered and not only does TLM defend the *95c support* it bounces really really hard off it and *rallies to a high of $1.25c* amazing I am gob-smacked


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## tech/a (2 November 2007)

Wouldnt get to excited this is a 1 minute chart.
Buying isnt from any particular large accumulator that I can see.

But on the positive side there doesnt seem to be supply!

*Can Aussi *you can also place your alert settings at a lower sensitivity to be alerted of the more "meaningful"
Actions of Volume and Range.
Cuts out a lot of noise,particulatly if trading longer timeframes.


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## YOUNG_TRADER (2 November 2007)

tech/a said:


> Wouldnt get to excited this is a 1 minute chart.
> Buying isnt from any particular large accumulator that I can see.




lol, hey Tech of course the 1min chart doesn't look amazing, but try looking at mine instead, 

My point is, this stock has gone up 5-6x over the last few weeks ie 20c to $1.20 ish, today was a bad weak day, what did the stock do? Did it fall? Yes but it held support at 95c only dipping below briefly and then shot up strongly to day highs on volume.

So my conlcusion is that given the huge run up over the past few weeks it appears that this is being bought by investors and not traders today which is a good sign IMO.


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## tech/a (2 November 2007)

YT

I agree with your analysis.
The thing which is very important is the action of price AFTER an up bar.
If you have a down day is it supported by Range and Volume.If it is then there is supply (Selling) if its light volume then there is little supply and those who bought are holding.

Right now though we are seeing increases in range (Volatility) the first signs of a warning. Not confirmed.
But in on the first breakout ---your laughing.
Now--caution.Or on Pullbacks.Watch for consolidation.


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## sydneysider (2 November 2007)

YOUNG_TRADER said:


> lol, hey Tech of course the 1min chart doesn't look amazing, but try looking at mine instead,
> 
> My point is, this stock has gone up 5-6x over the last few weeks ie 20c to $1.20 ish, today was a bad weak day, what did the stock do? Did it fall? Yes but it held support at 95c only dipping below briefly and then shot up strongly to day highs on volume.
> 
> So my conlcusion is that given the huge run up over the past few weeks it appears that this is being bought by investors and not traders today which is a good sign IMO.




Young Trader, TLM is being very actively sought. I have been trading the run since 39 cents and it has been a lot of fun. This stock is not trading like your typical speccy that gets dumped on. In fact the buying depth has intensified and IMHO it looks set to break out to much higher levels. My fundamental view is that TLM is sitting on the "Double Bay" of iron ore leases and it may still be a multi bagger running from its current level. IF u read between the lines of the last Press Release they seem to be indicating four potential target zones that I calculate (very very speculative interpretation here on my part so please be forewarned) may exceed one billion tonnes. I suspect that the coming "deal" with the new investor will provide the funds too drill out a very substantial resource and I firmly hope that the SP will react accordingly and IF results are good then we might see some extremely bullish action.


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## dogwithflees1983 (2 November 2007)

Great to see TLM in the green when majority of my other stocks are a sea of red! 
Sydneysider would you mind detailing how u crunched out the 1 billion figure? and what est SP would that relate to? I know your calc is only an estimate, but i'm still interested.
Cheers mate


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## canny (2 November 2007)

sydneysider said:


> Young Trader, TLM is being very actively sought. I have been trading the run since 39 cents and it has been a lot of fun. This stock is not trading like your typical speccy that gets dumped on. In fact the buying depth has intensified and IMHO it looks set to break out to much higher levels. My fundamental view is that TLM is sitting on the "Double Bay" of iron ore leases and it may still be a multi bagger running from its current level. IF u read between the lines of the last Press Release they seem to be indicating four potential target zones that I calculate (very very speculative interpretation here on my part so please be forewarned) may exceed one billion tonnes. I suspect that the coming "deal" with the new investor will provide the funds too drill out a very substantial resource and I firmly hope that the SP will react accordingly and IF results are good then we might see some extremely bullish action.




Very exciting times for us holders....
I've been lucky enough to be on from the high teens, but most of my accumulation has been much higher as I've loaded up seeing that it really does have some serious buyers and quality.

One of the things that has made me feel so bullish is the tightly held register, and comparing the sp (still ridiculously low) with some of its peers who have many more shares and most likely a lesser amount of Fe...that's the bit still to unfold of course-  but the map earlier up the thread from dj is a stunner for showing the loacation, quality of neighbours etc.
I'm hoping the news will be as good as we think is likely.
The investor presentation was very impressive....and if they have the 'elephant country' quantities of iron ore, we can expect multiples of todays price.


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## sydneysider (5 November 2007)

canny said:


> Very exciting times for us holders....
> I've been lucky enough to be on from the high teens, but most of my accumulation has been much higher as I've loaded up seeing that it really does have some serious buyers and quality.
> 
> One of the things that has made me feel so bullish is the tightly held register, and comparing the sp (still ridiculously low) with some of its peers who have many more shares and most likely a lesser amount of Fe...that's the bit still to unfold of course-  but the map earlier up the thread from dj is a stunner for showing the loacation, quality of neighbours etc.
> ...




TLM has just gone into a trading halt. Hopefully this is news about the "new investor" or assay results from recent drilling. Good luck to all longs


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## drasicjazz (6 November 2007)

seems like the seller site is drying up again
does anyone know what we can expect out of this ann/halt

got in at 90c -so very happy already


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## sydneysider (6 November 2007)

drasicjazz said:


> seems like the seller site is drying up again
> does anyone know what we can expect out of this ann/halt
> 
> got in at 90c -so very happy already




IF any of us knew what was coming it would be insider trading? Just chill the Perrier Jouet and get ready to fire up a tasty robusto. I am going thru a mixed box of various Monte Christo's, Upmann's and Romeo y Julieta's which are fun to smoke. If you don't like bubbly then have a tasty thirty year old Port. The bid on TLM is currently 1.42....good luck to all longs


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## Gekko (6 November 2007)

sydneysider said:


> IF any of us knew what was coming it would be insider trading? Just chill the Perrier Jouet and get ready to fire up a tasty robusto. I am going thru a mixed box of various Monte Christo's, Upmann's and Romeo y Julieta's which are fun to smoke. If you don't like bubbly then have a tasty thirty year old Port. The bid on TLM is currently 1.42....good luck to all longs




Pack your bags and get set! Cause tomorrow may be the start of a wild CD-like revaluation. These drill results will be keenly read. I cant help but think that over the next 4 weeks a CDU move to $3-$4 is possible. There are a lot of comparables to CDU's move last year. The wording used by management in the announcement wil be interesting. Plus of course the drill grades.


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## gfresh (7 November 2007)

Initial batch of results are in.. and they're as good as expectations.. New non-exec chairman from Jubilee as well coming on board. Monster in the making.. 
---

WONMUNNA PROJECT - INITIAL DRILLING RESULTS CONFIRM IRON ORE POTENTIAL
HIGHLIGHTS
- 36m @ 58.84% Fe (including 20m @ 61.41% Fe)
- 24m @ 59.73% Fe (including 8m @ 61.28% Fe)
- 40m @ 55.70% Fe

The Company is pleased to announce that results of first pass reconnaissance drilling of the Wonmunna project, Pilbara region, Western Australia, have confirmed the potential of this area to host significant iron ore mineralisation.

Results received to date are for the first 48 drillholes (1,745m) in 4 incomplete drill traverses along existing tracks (Figure 1). As a result of this ‘opportunistic’ siting of drillholes, this initial drilling is arbitrary and very wide spaced, and was intended only to confirm the presence and nature of iron ore mineralisation. An additional 50 drillholes are planned for completion of the
program by the end of the calendar year. These initial results therefore represent approximately 50% of the initial reconnaissance drill program.

---

The Board welcomes as the new non-executive Chairman Mr Alan Senior, an engineer with over 35 years experience in design and project development, mainly associated with the mining and mineral processing industry in Australia. Alan has extensive experience at all stages of projects, from pre-feasibility through to commissioning and operation, for plants handling and/or processing iron ore, gold, copper, bauxite, uranium, and coal. Throughout his career Alan has worked for the iron ore industry. In the 1970’s and early 80’s he worked as a designer on major expansion projects for Mt Newman Mining (now BHPB) and Hamersley Iron (now CRA).

Alan is currently a non-executive Director of Jubilee Mines NL. Before joining the board of Jubilee in 2003 Alan led the team which completed the feasibility study for the Cosmos Nickel project and its successful implementation, followed three years later by the transition from open cut to underground mining. Alan is also a non-executive Director of Tanami Gold NL.

Alan’s extensive experience will be of great assistance as the Company looks forward to making the transition from explorer to miner.


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## dj_420 (7 November 2007)

Gekko said:


> Pack your bags and get set! Cause tomorrow may be the start of a wild CD-like revaluation. These drill results will be keenly read. I cant help but think that over the next 4 weeks a CDU move to $3-$4 is possible. There are a lot of comparables to CDU's move last year. The wording used by management in the announcement wil be interesting. Plus of course the drill grades.




I would hardly think that a first round drilling pass would result in running the fully diluted market cap up to 225 - 300 million.

In all honesty there were four decent drill hits and the rest seem quite small with an avg of 4 metre hits.

The figures that were thrown around a while back were based on an avg of 15 metres depth not 4. Anyway decent results for an junior but nothing to write to Twiggy about IMO.


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## gfresh (7 November 2007)

I disagree DJ in terms of things being 'quite small' .. several strikes of 24m to 40m of >50fe is insignificant? During the initial stages, this is very encouraging results... 

Marra Marra is a strike over over 5.5km. South and eastern end of Marra Marra hasn't even been drillled. 

The CID of which you are referring to 'of only 4m' is just above the surface of the Marra Marra formation... and they indicate below, it's not likely to be the most prospective portion. 


---
Channel Iron Deposit (CID) mineralisation has also been intersected, from surface, in several drillholes, often directly overlying mineralised Marra Mamba Iron Formation. Whilst generally thin, and of low grade, these initial drillholes appear to be in the less prospective ‘upstream’ portion of the CID. 

It is of interest to note that the better CID intercepts directly overly Marra Mamba hematite mineralisation.

The Company remains of the opinion that the CID remains poorly tested by drilling and good potential remains for the identification of significant CID iron ore mineralisation.


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## dj_420 (7 November 2007)

You are surely overstating the point when you say it is worth $3-4 per share. That market cap is not justified when you look at what work has been done. 

TLM now has market cap comparitive to YML and YML already has defined resources of 45 mt. Im just saying how do you conclude that TLM could have market cap of 225-300 million on 2000 metres of drill results?


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## YOUNG_TRADER (7 November 2007)

Hey guys,

I agree with DJ we need to tone it down and keep things in perspective, TLM isn't going to $3-$4 in a few weeks, so just calm down a bit,

That being said, I think what differentiates TLM from YML is that firstly its ore is covered by 10-20m's of top soil whereas YML's is covered by 50m's, so the profit margins should be higher for TLM

Secondly, YML can only ever hope for 250M'ts max imo on their grounds, with a more realistic target being 100Mt's, whereas TLM have stated they could have up to 450Mt's with a more realistic target being 250Mt's, so the potential upside could be much much more

Finally its TLM's chart that gets me, todays trading is above the $1.30 resistance line I had drawn in, its so amazing how this thing just trades in channels, I never used to believe in charting 100% but TLM has made me a believer.


Will $1.30 now be the new techincal support? 

Watching and waiting


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## tech/a (7 November 2007)

*YT*
Yours are support and resistance channels or Zones.
Here are Regression Channels.These also hold---god knows why!

This is a *180 minute *chart with an Alert from VSA software.


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## YOUNG_TRADER (8 November 2007)

Hey tech,

"Zones" you say?.... I knew that!  lol

What the hell are "Regression Channels" ?


I must say though TLM's chart and sp moves have been gob smacking, it just respects its levels so well, but why????????

Tech what do you see using a 6month bar chart like mine?


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## tech/a (8 November 2007)

*but why????????*

Thats a bloody good question one which will lead off topic but will indulge just a little here.Ive asked and pondered the question for over 10 yrs,and have what I believe to be an answer of sorts.

The same question applies to 
Trend lines
Fibonacci levels
Elliott waves
Support and resistance lines
Regression channels to name a few.

*but why????????*

Its my belief that technical analysis is nothing more than the analysis of *Crowd behavior*. The bigger the crowd the more predictable its behavior.
Lets take your "zones" where price moves between a top and a bottom (This also answers you question as to what I see.
At the bottom of the zone those already in the crowd see value,some get jittery and others buy more,others still join the crowd.
At the top of the zone the crowd is excited word goes out and at times those in the crowd wish to leave with a profit so price retracts into the zone.
At other times so many people wish to join the crowd they pay a good deal more and push price to another zone.

However the higher price moves (Generally) the more the disparity in the crowd with regard to value.Hence as we see in the chart now the zone becomes bigger and the volatility increases.Eventually a zone of value will be found.


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## jonojpsg (8 November 2007)

It might be a bit nerdy and out there, but if you've read Isaac Asimovs Foundation series (science fiction), there's a concept called Psychohistory which deals with accurately predicting the behaviour of large masses of people.  In order to be accurate though, it needs large numbers to work, eg mulitple billions of people!!  

Surely that principle would have to apply with charting, which is indeed a measure of crowd behaviour - the larger the crowd, the more likely it is for the predictions to be accurate because the effect of individuals becomes less significant.  

Does this work though, eg does a share with lots of trades/traders such as BHP follow trading patterns better than a share like TLM??  It seems from what you're saying, and the charts, that TLM is behaving very much according to these Zones.


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## tech/a (8 November 2007)

This leads to a question of how large does the crowd need to be.
We cant tell this from volume as 1 person can have multiple positions.

There is a discussion touching on this topic here
https://www.aussiestockforums.com/forums/showthread.php?t=8741

A long and involved topic.
but one which I am using in a practical sence.
I can say that in both systematic trading And discretionary trading one can take advantage of the crowd,both to be in sync with it and often on entry and exit be out of sync---profitably so.


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## YOUNG_TRADER (12 November 2007)

Well I know there's been alot of speculation as to who the mystery TLM investor is,

I like most now suspect it is Jubilee's main man Kerry Harmanis, especially since

1. Harmanis has just sold Jubilee and pocketed over half a BILLION Dollars
2. Harmanis's right hand man, Alan Senior has joined the TLM board,


But I just came across something that makes me go hmmmm, see attached recent top 15


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## YOUNG_TRADER (12 November 2007)

Looks like nobody cares that Murchison has bought into TLM,

I thought this would have got a bit of a discussion going, but no, surprised it hasn't 

No one has any comments?


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## UPKA (12 November 2007)

khoong25 said:


> takeover target?  is that how they tried to do on Midwest?
> 
> 
> 
> ken




I thought their holding was rather insignificant, i really dunno wat to make of their holdings...


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## YOUNG_TRADER (12 November 2007)

UPKA said:


> I thought their holding was rather insignificant, i really dunno wat to make of their holdings...




I know, its so small, why bother?

I don't get it either UPKA and don't know what to make of it,

Its not negative, its positive, but I doubt its a takeover, my thoughts where maybe their the investor? But then why has that Senor dude joined?

Time will tell, perhaps I should just sit back, shut up and wait


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## canny (30 November 2007)

YT - I'm guessing that the as yet unnamed 'large investor' is likely to be a Jubilee contact of Seniors - Kerry Harmanis....
This is at educated guess stage only becasue of their prior relationships - money available and the timing of the appointment of Alan Senior.

Whichever way it goes, we are likely to see the TLM price continue onwards and upwards after next round of results.... there was a very positive and energy filled atmosphere at the AGM from all reports.

Looking forward to some very neat numbers!


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## aleckara (13 December 2007)

Hi all,

After the 15% gain yesterday for no apparant reason I could see a trading halt has been put on the company today.

Could this be a finalisation of the drilling results? Or something more major?


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## IOT (15 December 2007)

well looks like speculation was right...kerry harmanis has bought in...should be interesting Monday!

Wish I had some


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## Miner (16 December 2007)

IOT said:


> well looks like speculation was right...kerry harmanis has bought in...should be interesting Monday!
> 
> Wish I had some




Yes there was a big story on Harmanis taking a major share of TLM.
With DJ fall on Friday probably TLM would be an interesting proposition on Monday.

Regards


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## HOT STOCKS (16 December 2007)

Harmanis buys into Talisman (TLM) iron ore article!!!


Article in West Australian…here is transcript!!!

Harmanis buys into iron ore:
_15th December 2007, 11:15WST_

‘Jubilee Mines founder Kerry Harmanis, who has made a $473 million fortune out of nickel, has joined the race to develop WA’s next generation of iron ore producers.

Mr Harmanis is investing about $5 million in return for a 7.1 per cent stake in Talisman Mining, a fledgling Subiaco-based company exploring the Pilbara for iron ore.

The investment is Mr Harmanis’ first since agreeing to Jubilee’s $3.1 billion takeover by Xstrata two months ago.

Mr Harmanis, who set up Jubilee 20 years ago, is set to pocket $473 million for his 15.9 per cent stake.

Mr Harmanis would not comment yesterday and has made it clear previously that he intended to revert to a low profile once the Jubilee deal was completed.

Talisman confirmed Mr Harmanis’ investment late yesterday when announcing a $9 million share placement to select investors at $1 a share.

The money raised will mainly pay for resource drilling at Talisman’s flagship Wonmunna project in the Pilbara which the explorer hopes contains an iron ore resource of at least 50 million tonnes.

Talisman’s shares have been in a trading halt since Wednesday, having last closed at $1.30, but are expected to soar on Monday on news of Mr Harmanis’ investment. The shares were trading below 20 ¢ in August before Talisman announced a shift from mainly copper-focused exploration to iron ore, sparking the rally.

Mr Harmanis will invest $2 million in the placement and buy about $3 million worth of shares from Talisman’s founding managing director, Steve Elliott.

The total investment is likely to make Mr Harmanis the biggest shareholder in Talisman, which will have a market capitalisation of $96.2 million after the placement and the exercise by Mr Elliott of four million options.

The Wonmunna deposit has returned early-stage drill hits of 20m grading at 61.4 per cent Marra Mamba-style iron. It sits alongside Rio Tinto’s Hope Downs railway line and is likely to be ultimately reliant on access to its rival’s infrastructure.

Meanwhile, Mr Harmanis has urged Jubilee shareholders to speed up their level of acceptances of Xstrata’s $23-a-share cash offer.

The take-up of the offer, despite Mr Harmanis’ support, has been slower than expected and has forced Xstrata to extend the bid deadline to January 31.

The level of acceptances stands at only 40.1 per cent, with some Jubilee shareholders thought to be holding on to the slim chance of a higher, rival offer emerging.

Jubilee’s shares closed at $22.65 yesterday, suggesting the wider sharemarket did not believe a third party would be able to trump Xstrata.

In a letter to shareholders, Mr Harmanis urged them to accept the offer by next month’s deadline or face the prospect of being minority stakeholders in an Xstrata-dominated, listed Jubilee.’

PETER KLINGER

Link to West Australian Buiness article Harmanis buys into iron ore:

http://www.thewest.com.au/default.aspx?MenuID=3

Harmanis buys into iron ore:

12/14/2007 9:33:00 PM ET 
The West Online
‘Harmanis buys into iron ore ads from Yahoo! Search Marketing: TV Perth All Channels - Perth ABC WA Channel Seven Perth Channel Nine Perth Network TEN Perth ABC2 SBS WA Access 31 SBS News All Channels - Regional ABC WA Channel Seven Perth Golden West Network Channel Nine Perth WIN Television WA Network TEN Perth ABC2 SBS WA Access 31 SBS News Yesterday Today Tomorrow Monday Early Hours Morning Afternoon Tonight / Primetime Delivery West Australian Newspapers Limited 2007. All Rights Reserved.’

Link to article:

[URL="http://www.stockhouse.ca/mediascan/news.asp?newsid=9831392"]http://www.stockhouse.ca/mediascan/news.asp?newsid=9831392

IMO Monday promises to be very exciting for all TLM shareholders.

All the best!


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## gfresh (10 January 2008)

Staying quite steady whilst other stocks plunge. Has dipped just below $1.00, but as can be seen late November, it doesn't last long below this point.

2nd round of early drilling is in the lab apparently, and results should be released sometime within the next 2 weeks.

Only 66M shares on issue, and likely 50mT+ high grade Marra Mamba Hematite. This puts in very good light compared to many other iron ore peers. The heavy weights of Alan Senior, and Kerry Harmanis obviously very much like what they see, compared to many other iron ore juniors they could choose to invest in and lend their experience to.


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## Bushman (31 January 2008)

Well placement was at $1 to sophisticated investors, Kerry Harmanis bought 7% of the company in the 90's and 50 MT hematite target is likely to be firmed up in 2008. 

So I'm in in the low 70's - big discount to what more learned investors than me bought these at. TLM to me has the most potential to firm up a decent market cap in the shorter term. 

Problem is it is illiquid and likely to plummet during corrections. Maybe I should just not look for 3 months. Fat chance. Investing is hell sometimes.


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## Bushman (18 February 2008)

Good ann today - at least I thought it was good. Market doesn't but if you take your signal from the market at the moment then you would not be buying producing miners, let alone those firming up resources. 

Anyway ann summary - 

There are now 4 distinct drilling targets at Wonnunma - 
1. NMM (north Marra Mamba) - reconnaisance drill hits in moderate to high range (55% to 61%). Low impurities. Thus a DSO target. 5.5km target area; 35 drill holes completed to 'confirm mineralisation'. Maiden JORC drilling to start March 2008 with an aim to release maiden JORC on NMM August 2008. 
2. Further CCID drill results released. Follow up reconnaissance drilling to follow. Large CID target of 15ms. 68 drill holes completed. 
3&4 - further 3 targets - SMM (sotuh Marra Mamba), EMM (east MM) and ECID (east Channel Iron). Reconnaissance drilling to commence March 2008. 

Once again, directors mention the 3 large haemitite/geothithe mines that surround Wonmunna - Area C, West Angeles and Hope Downs. Perks to this are low capex as infrastructure is already there. 

Rest is stil the same - elephant company, Harmanis number one ticket holder, drilling campaign fully financed, low cap, blah blah blah. Losing value like one of those Channel 9 cricketing collectors items at the moment but I think this is silly and that buyers will return if/when they confirm that the iron is there. Or at least I hope so as this market has a tendency to make you look like a fool at the moment. C'est la vie.


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## gfresh (18 February 2008)

I thought it was pretty positive. It seemed to there was a noticeable lag between the ann and the sell-down, which tended to indicate to me they didn't know what to make of it - other than go with the crowd after no "instant run". Good in a way to see traders bugger off in some ways, leaves a guide to a price investors are happy to hold.. 

As the ann yet again stated, Talisman is right in the heart of Pilbara Iron Country. With the likes of Kerry Harmanis as investor, this has to be a positive if they need to negotiate transport to nearby railways. 

Drilling was still only preliminary, which at least has been encouraging enough for them to go forward on full-on resource drilling which will be completed by August. 

The overlaying CID (at surface) is not "high grade" at avg 48% Fe, but probably minable if the price of iron ore keeps up. Because of the CID overlying the higher grade Marra Mamba, it seems like they haven't even drilled to possible full depth _"Many of the drillholes failed to penetrate all of the iron formation and, by association, all levels of potential iron mineralisation."_. For this area, mineralisation could occur right down much further than current drills - as per other operations in the area. With a potential strike of 5.5km, if it goes down at depth below 50m, could be a very large resource. 

Iron Ore prices just announced today as negotiated at 65% increase with Japanese steel mills, from which the Chinese also go off. The future is pretty bright still for Iron Ore, and Talisman with a high cash position looks pretty well placed (and keen) to go forward quickly.


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## powerkoala (19 February 2008)

i was wondering the performance of this sp recently.
compare to other FE players, tlm is going down while others are up, due to increasing price of FE. 
any opinion guys regarding recent news ?


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## Boggo (22 February 2008)

I thought that this would have done a runner on the news just out, does'nt seem to be too much interest though even though its up 10%.

Mike


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## Bushman (25 February 2008)

Boggo said:


> I thought that this would have done a runner on the news just out, does'nt seem to be too much interest though even though its up 10%.
> 
> Mike




Having a run today Mike. Manganese news widely reported in WA and has just made it on Minebox. Lets see where it takes us. 

I thought the 65% Fe rock chip on EMM was also significant. Should be a positive drill campaign leading up to the maiden Wonmunna NMM JORC later in the year (August 2008).


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## gfresh (25 February 2008)

Assuming it is high grade hematite and goes to depth for the Wonmunna EMM.. A bit of a "ideal case" scenario. I've done a quick estimation calculation, based on the diagram. It is only an pure guestimate, but just putting it out there. 

3600 length x 400 width x 40m(?) depth x 2.5sg = 144mT

The 40m is a pure guess, but even at only 20m depth we get 72mT..

And this is only EMM, NMM may well contain somewhere near this, and SMM hasn't even been drilled. 

Even though the current SP is optimistic, if the manganese can be substanciated (would Consolidated be interested?), TLM may well be significantly re-rated by next year.


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## gfresh (30 April 2008)

Still plugging away, not much interest, but they seem ever more confident over time. Latest quarterly reports are positive, and worth a read for anybody interested in another Iron Ore junior in the Pilbara. 

NMM should have a good resource which will be revealed August-September. Intersections over many km. 

SMM now showing hematite mineralisation in initial drilling, and some firmer results expected June.. 

EMM showing "deep blue-hematite" with a sample of 65% fe content. As above, gives some idea of what could be expected best case.

So within the one tenement they have 3 possible deposits, all with mid-size potential. 

I think this will surprise when inititial resource estimates are put out there later this year.


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## Bushman (26 May 2008)

In the AFR today (p22) - manganese has increased in price by 280% in the last 6 months. This has flown under the radar as manganese is not publicly traded like other steel making commodities (ie iron ore, coking coal). 

So who has mangabese? There is one operational mine in Australia (Woodie Woodie by ConsMins). However if you go back through TLM (Talisman) recent announcements, you will see that they have found a potential high grade manganese deposit at Waydanya (sp?), 50 km from the Woodie Woodie mine. 

So is this a slow burning fuse that will be looking to explode? 

Actually this probably also belongs on the TLM thread - I will post there also. 

TLM, by the way, went stratospheric late last year before dropping back down to earth in the grips of the bear. It has some Pilbarra iron ore holdings along with Wadaya. At 64 cps, the market cap is low. 

(**Note - originally posted on manganese thread**)


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## ta2693 (3 June 2008)

The drill result is not impressive at all.
a lot of hole's grade is below 55%. the dust is too much. bad luck.


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## Bushman (3 June 2008)

ta2693 said:


> The drill result is not impressive at all.
> a lot of hole's grade is below 55%. the dust is too much. bad luck.




Wait for the JORC in August for this one. Drilling has been continuous now for some months. Not all results will be 100%. 

Having said that, I have not jumped on board yet. Bit hard to tell where the project is at. 

As I said earlier, I liked to look of the manganese grades at Wadaya but it is a grab sample at the moment so not much to be read into it. 

Interesting time for TLM - for those who weren't around, remember Harmanis got on board at a $1! This gives me a sneaking suspicion that the JORC might surprise. But hey it might fizz too


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## gfresh (4 June 2008)

ta2693 said:
			
		

> The drill result is not impressive at all.
> a lot of hole's grade is below 55%. the dust is too much. bad luck.




Rubbish.. I don't think you even looked at it properly. Do you notice the red (being >55% Fe) being dotted along many km on the diagram? This means the *majority* of grades are greater than 55% It's only very widely spaced reconissance drilling at this stage, because of the size of the deposit it's going to take a while before they can narrow it down. 

The grades granted are not DSO 60%+ (which are rare), but the majority are 50-60%+ and some of the lower grades can be blended to produce a good mix.  

JORC will be as large as many of the other good sized Hematite deposits out there, a simple width x length x depth x specific gravity equation will give you some idea. 

The only concern is the lack of deep intersections so far, which will limit it's potential as a very large resource - but it still won't be 20-50mT I can tell you that..


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## Bushman (26 June 2008)

Nice set of drill results with 3 NMM holes having hits >61% with low silica. That is the DSO-type stuff if I am not mistaken. NMM looks like it might have the goods. JORC in August '08.


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## inefekt (3 July 2008)

Howdy investors,

I just recently bought into this stock. In regards to the lower grade drill results, I remember reading that most of these were expected to be insignificant as those holes were outside of the anomaly zone?
My broker is very bullish on this one, expects things to happen around JORC time in August.


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## Tiberium (28 August 2008)

I can't believe Talisman Mining SP has gone down by 20% after announcement: "Inferred resource of 44Mt @ 55.9% Fe, inclusive of 28Mt @ 57.4% Fe. 
Is it because of the grade or the quantity that caused the market unimpressed? I think there is still plenty of upside as this result covers only resources from one area and there are still more areas that the results are pending to be announced.


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## Bushman (23 December 2008)

Harmanis has brought in one of his old Jubilee execs to run the show at TLM. ASX announcement issued today. 

He has not given up on his investment. Interesting. 

SP has been spanked along with all junior iron ore small caos - down to 10 cps.


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## Bushman (21 January 2009)

Exploration keeps delivering. 

70% increase in Wonmunna resource plus 10T DSO @ 61% Fe. 

Deposit is in the Pilbarra near key RIO/BHP mines. 

TLM timing is out with the iron ore spot price plummeting but no doubts about it - Wonmunna is a choice little deposit. 

Best of all, they keep exploring and drilling. That is, after all, what a junior should be doing. 

Cash of $5m means they have another year and a bit of exploration before they need to raise dosh. They have managed 70MT deposit in seven so this will give them plenty of time to delineate a economically viable mine. 

The rest, i.e. the global economy, is out of their control. In times like these, you can only control (i.e. drilling, exploring, enhancing the value of the asset) what you can control.  

I do not own these (I used to and sold out in the mid-50's for a loss) but the market cap of $10m is very low IMO even in the face of a global downturn.


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## gfresh (21 January 2009)

Still holding some options for these guys. Probably should have sold the lot, but as you say, appears undervalued compared to other co's still hanging on for better times. I've got until December 2010 for the world economy to pick up somewhat, so there is a fair bit of time to go 

Ex-Jubilee execs are a positive, and more likely to secure some sort of deal if they decide to mine.  

It has impressed me that they have said what they have planned in the last 6 months or so, and have gone ahead and done it, without excess costs, major delays in drilling, or the other issues surrounding many other hopefuls. 

78.3MT @ 56% Fe is good, not outstanding, but not insignificant either.


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## Bushman (24 February 2009)

gfresh said:


> Still holding some options for these guys. Probably should have sold the lot, but as you say, appears undervalued compared to other co's still hanging on for better times. I've got until December 2010 for the world economy to pick up somewhat, so there is a fair bit of time to go
> 
> Ex-Jubilee execs are a positive, and more likely to secure some sort of deal if they decide to mine.
> 
> ...




Two ex-Jubilee execs have joined the team - Peter Langwarthy and Brian Dawes. All star Harmanis cast being assembled.


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## Bushman (8 October 2009)

Has prospective ground next to Spitfire Resources much hyped De Grussa prospect. See announcement today re Springfield anomaly. Goes allong with iron ore, managanese exploration. 

Some serious accumulation over the last 3 months or so.


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## adobee (19 October 2009)

TLM on a breakout... getting alot of hype amongst traders and investors.. appears pretty tightly held so has the ability to run hard...  very tempting as potential to break out but the new heights are a bit scary for me.. will take up 5k and see what happens ..


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## Da Cat (19 October 2009)

Good finish today. Funny stock imo. seems to trade off 'nearologies' and 'associations'. firstly the pilbara tenaments near the big iron ore miners, then the recruitment of most of the former jubilee brass, not to mention K Harmanis as significant shareholder, and now the close 'nearology' to the de grussa deposit (SFR).
latest development looks promising though. some decent hits very close to TLM tenaments. geological trend certainly encouraging.


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## craigj (19 October 2009)

recommmended by gampiero in the Age today so that will have influenced buying today

it is likely to rise higher tommorow after people disect the paper tonight


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## adobee (13 April 2010)

I think TLM has started there drilling this week.. interesting to see what comes up as this is pretty tightly held and news leaks often with it.. sulphide etc in the drilling will be known before announced so watch out for some jumps in price..


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## phyro (23 April 2010)

ive been following this stock pretty closely for a couple of months now and it seems that this stock reacts about a week out from the announcement date. Looks like news gets leaked pretty often. And whats with the drop in share price. I think its just me that thinks this announcement is good news


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## adobee (23 April 2010)

I am trying to get my head round this announcement quickly now to see if its with picking some up now ..


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## adobee (13 September 2010)

TLM getting some new interest this morning after sitting around 90c for weeks we have shot up to 1.10.. one would expect something is happening here for 10% increase this morning ..


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## springhill (4 August 2012)

MC - $37m
SP - 28.5c
Shares - 131m
Options - Nil listed
Cash - $28m (+35.5m shares in Rico Res @ 15c)

*Talisman offers a fantastic MC:Cash(+investments) ratio of nearly 1:1.*

*Management*
Gary Lethridge – Managing Director
Graeme Cameron – Technical Director
Dan Madden – Chief Financial Officer
Peter Cash – Manager Corporate Development

*Springfield*
-Drilling confirms validity of Talisman’s 3D litho-structural geological model 
-Multiple anomalous copper & gold intersections returned from recent drilling 
-Initial 73-hole/11,000m targeted RC/Diamond drilling program expanded to 100 holes/15,000m: 
 Systematically testing along favourable VMS horizons at Monty, Homer and Central Corridor 
-Multiple new prospective volcanic horizons identified at Abraham: 
 Large copper-gold soil anomaly identified Reconnaissance RC drilling to commence soon 
-Focused exploration activities to be maintained throughout 2012

*Halloween Project*
-First pass exploration activities deliver immediate success 
-Maiden RC & Diamond drill programs confirm a VMS Copper-Gold mineralising environment at Halloween: 
 Feb 2012 – Reconnaissance RC drilling intersected significant Au mineralisation along 3 out of 4 traverses across interpreted VMS horizon 
 May 2012 – Deeper diamond drilling along best gold traverse and an isolated FLEM conductor intersects significant Au, Cu & Ag mineralisation 
-Pathfinder elements in copper mineralised intervals consistent with geochemical signature of Sandfire Resources’ DeGrussa deposit located 11.5km away 
-Follow-up infill RC drilling now underway to better define the extent of the mineralised trend for follow up deeper diamond drilling later in 2012
Results
-Maiden RC drilling program returned highly promising gold intercepts including: 
HRC002 - 10m @ 3.56g/t Au from 84m 
HRC006 - 6m @ 1.52g/t Au from 18m 
HRC001 - 28m @ 0.53g/t Au from 70m 
-Follow up diamond drilling program returned high-grade gold, copper and silver results in two out of three holes:
HWD004 – 4m @ 5.34 g/t Au and 3.12g/t Ag 
HWD004 – 1m @ 2.04 g/t Au 
HWD002 – 0.15m @ 2.62% Cu, 5.52g/t Ag and 0.28 g/t Au

*Halloween West JV VMS Project*
-Farm-in JV Agreement to earn 60% interest signed in May 2012 
-Located adjacent to Halloween 
 Hosts continuation of interpreted Halloween VMS horizon 
-Immediate exploration activities focused on target generation: 
 Soil sampling completed – copper and gold anomalies identified 
 Geological mapping commenced 
 FLEM commenced 
 Drilling to commence later in 2012


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## piggybank (30 June 2014)

*Sandfire to Commence Diamond Drilling at Springfield to Test EM Conductor*

The report can be read here:- http://www.stocknessmonster.com/news-item?S=TLM&E=ASX&N=681408

Gone up over 100% whilst I've been away...


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## samso (24 September 2018)

Wow, it has been a long time since someone posted   Springfield has already been sold


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## Miner (11 April 2019)

samso said:


> Wow, it has been a long time since someone posted   Springfield has already been sold



Visited TLM site since it was last visited by @samso back in Sept 2019. Ironically that post carried only a link of Samso's blog/website. Well done my friend!
Firstly, disclaimer - I am a holder.
The stock is having a PE of 0.34
https://www.asx.com.au/asx/share-price-research/company/TLM
It is not a misprint as the company dished out $29 M back in February this year to its existing shareholder.
https://www.asx.com.au/asxpdf/20190222/pdf/442vxcx98rgp39.pdf
That was a significant amount of 15.6 cents per share. But the share price took reduction initially same amount of the capital return and now further low.  Current price last quoted was 8.4 cents.
Recent quarterly report was impressive and the percentage of copper and nickel are outstanding.
Million dollar question is why the share price is unloved? I do not know but can guess. Capital investment to get the metal from the rock could be more expensive and the company could be therefore waiting for someone to buy out? Who knows.
My wish is prior to AGM scheduled on 7 May   the company could release some hot stuff to get excited?  Another 4 weeks, I would patiently wait.
https://www.asx.com.au/asxpdf/20190405/pdf/444307b1k20s6q.pdf
Anyone can provide better info, please.


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## finicky (20 May 2020)

Forgot about this one during the March crash. At 6c share price TLM got down well below cash backing in March.

TLM returned 15c per share of capital to shareholders plus a 6.4c special dividend in fy19. This benefit followed the sale of the Monty Cu/Au project to Sandfire Resources (SFR). Subsequently also sold the Sinclair Nickel Project 11 Oct 2019 to Saracen (SAR) for $10m and a royalty.

Six months ago the M.D was saying they still had ~$17m cash so guessing they'd still have that minus a mill or two. Market cap today if it closes up 1c @ 0.097c would be about $18m.

I am freshly attracted by the Lucknow NSW gold mine farm-in (up to 70% earn in). Sounds like they think there could be deeper down plunge sources to the old mineralisation in the mine plus there could be a faulted offset lode somewhere as historic mining stopped at a 'contact' with barren different rock. From 26 Aug 2019 release:

"The Lucknow Goldfield was discovered in 1851 and was one of the earliest goldfields to be mined commercially in Australia. Historic production records at the Project are incomplete, however in excess of 400,000 ounces of gold has reportedly been produced at grades of *100 to 200 g/t*"

Commenting on the Lucknow Project, Talisman Managing Director Dan Madden said:

“There have been numerous recent examples in Australia of exciting new gold discoveries being made by using modern exploration techniques to target depth extensions in known goldfields.
Lucknow is one of the world’s highest-grade gold mining areas with reported mined gold grades in excess of 100 g/t, so the potential value of any new areas of mineralisation that can be identified is clear"
.
Disc: long held
Might add, just now thinking about it but plan has been to increase cash not spend it.
Some volume coming in and daily chart trending

1 Yr Dly


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## finicky (5 June 2020)

Talisman Mining *(TLM)* last price @ 11.0c up 12%, good volume.
Running gap that might well get filled before drilling news, so it's a wait for 10c or lower imoo.

Lucknow Gold Project

Following  Wuhan Virus lockdown delays Talisman has scheduled the first diamond drill to happen in June. They will be drilling into an *interpreted* continuation of bonanza lode that has been offset below the historic workings by ancient shearing that occurred after a horizontal fault - picture better than words:






And this is what they're after, ozs to the tonne


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## finicky (17 June 2020)

*TLM* up another cent so far today, not showing yet on this weekly chart. Up 1.5c yesterday. The fickle money wanting a ticket for the June diamond drill into the *interpreted* faulted offset zone beneath the fabled 19th century Lucknow workings. Multi-bagger or smashed on the dd result imo. Would have bought more in normal times.

TLM Wkly


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## finicky (1 July 2020)

TLM @ 16.5c

Just when I would have liked the price to dip or stall it goes up 10% on the day before the July stock picking comp starts.

Yes so supposedly the diamond drillling at Lucknow has begun but the company hasn't actually notified us of this via an ASX announcement, so guessing.

Here is the diagram again showing their theory and what they're after. In some awesome geological epoch the mineralised body has been split in two by a horizontal fault and then the upper and lower units have sheared apart. The old miners got down to the horizontal fault and couldn't contact the bottom unit of the lode as it had shifted east. That's what I think they're saying anyway - its that orange oblique striped block in the picture.

Big bucks if they are right and hit ore like in the second picture, share price halved if they don't.


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## finicky (16 July 2020)

*TLM* @ a miserable 16c

This has got to be an improvement - the *18%* major shareholder, *Kerry Harmanis*  has taken the chairmanship from a guy who holds only 2,500,000 freebie options as well as 400,000 shares that probably derive from options or 'performance' anyway, not his own money. Commitment plus replaces commitment nil.
Someone with acumen writing elsewhere has remarked that Talisman (TLM) has the markings of a lifestyle company with low director holdings except for option freebies and long tenure of said directors.


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## finicky (2 August 2020)

Diamond hole drill #1 was a dud or an 'information rich' result depending on your glass half full or half empty temperament. Diamond hole #2 has commenced and should complete in August.

I'll have to cheat and screenshot a page of the announcement because the geological explanation of an emerging more complicated model are now beyond my visualizing capability - I have tried. They think there's a 'cross-cutting fault' now which has changed the picture of where the 'lost lode' might be. Still searching for the 'contact' of the ultra-mafic and andesite rock types which it seems is key to locating the missing lode.

This will be a binary result for me in the August comp - either right up at the top of the ladder or down near the bottom. For the company though, if Lucknow is a bust, they will still have the progressed Lachlan Fold tenements. Additionally, at end of June they had $13m of cash - assuming they'll have spent $2m of that after diamond hole #2,  they'll have almost 6c per share cash left.

Chart-wise I am guessing might get to 12c again before next Lucknow drill results and if that's a dud down to 8-9c? 
Held


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## finicky (18 August 2020)

Got bored so added 10,000 more *TLM* @ 13.5c today. Gives me a nice round amount of 50,000 shares - a sophisticated approach borne of almost two decades of investing. Now looking at the chart as a low volume wedgie like correction awaiting second drill result at Lucknow; target of 9c if the drill result is 'information rich' and doesn't contact visible gold. The spike down day, July 24, was Lucknow's first drill result.
My August comp pick 

TLM 6 Months


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## finicky (27 August 2020)

Diamond hole #2 assays received. Nothing. Another informational hole attended by increasingly complicated gobbledegook from a geologist about his hobby.
"The hole returned low grade gold mineralisation in the interpreted target zone (*0.86m at 0.26g/t *Au from 370.14m).


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## Miner (28 August 2020)

finicky said:


> Diamond hole #2 assays received. Nothing. Another informational hole attended by increasingly complicated gobbledegook from a geologist about his hobby.
> "The hole returned low grade gold mineralisation in the interpreted target zone (*0.86m at 0.26g/t *Au from 370.14m).



@finicky Interesting correlation I have to make now:

You get bored so you buy some throwaway money to buy TLM at 13.5 cents. Twiggy would be envious of you for sure  
Your end line says " _If I talk positively on any stock it comes with the caveat that I expect a second and deeper market crash soon. I have been liquidating shares and any buy will be a rare individual exception"_. So aligning with your EOM, the price of TLM crashed. So did you buy or sale immediately or just wanted excitement to have a loss on TLM just to prove your proverbial EOM ??
I can add one line on your EOM - when I buy to go for short sale !!!


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## finicky (28 August 2020)

@Miner I'm getting a bit irrational lately, just today I bought some lottery tickets on top of the usual: mswalotteries.com.au
Yes, it was just a bit of excitement I was after, but there's still a little value left in the stock. TLM has about 6cps cash, the Lachlan Fold project and there's some talk they're on the hunt for a W.A gold project to buy off the shelf, so to speak.


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## finicky (10 May 2021)

Up an unexplained 22% so far today on firm volume and challenging the last two year high @19c. 
Have retained all my shares but lost interest and attention after the Lucknow prospect fizzled.
More than one string to its bow though and still reasonably cashed up and looking for another project last I heard.

Lets not forget their past achievement - TLM returned 15c per share of capital to shareholders plus a 6.4c special dividend in fy19. This benefit followed the sale of the Monty Cu/Au project to Sandfire Resources (SFR). Subsequently also sold the Sinclair Nickel Project 11 Oct 2019 to Saracen (SAR) for $10m and a royalty.

Daily 6 Mths


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## finicky (12 May 2021)

Up another 20% before luncheon  0.245
Noone's interested so I'll just give my blurry impression of what's going on. Apparently TLM has a *royalty* over an iron ore lease. Mineral Resources (MIN) is starting to pay TLM for the lease quarterly. Production by MIN is ramping up and TLM is expecting revenue from this source to rapidly reach a significant amount compared to its market cap - i think someone said like $2M usd per Quarter after June at current Fe price? I didn't take any notice of this when it was announced a couple of weeks back - partly because i read that ownership of the lease is being legally challenged by Fortesque but market is betting that lease will stay in MIN's hands as it is continuing to invest into production on it.

Will be a very cashed up Au, Cu explorer if royalty comes in.

Daily


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## finicky (19 January 2022)

Went cold on TLM after the Lucknow duster but was meaning to update yesterday. Today the price is getting a boost, ^12%.

A cause for renewed interest is the company's big scale exploration revamp involving dual airborne gravity and electromag surveys over areas of its Lachlan Fold NSW tenements. They have been taking advice from an expert geology consultant about where to concentrate their efforts in fault controlled areas that are concealed by deep cover. Its the common theme recently where more modern techniques and knowledge are sniffing out what remains concealed in proven terranes where old-timers took their lead from outcropping mineralisation and then the next wave relied on soil sampling and blind drilling. The obvious stuff has been found and mined but probably bigger stuff is hiding.
They have appointed 3 new geos and have replaced the old lame lifestyle senior management who didn't ever buy shares in their own company. Un-ac-ceptable!

How they can do all this as a $32m market cap junior with low share issuance is what makes them exceptional - the regular monthly income from the gross royalty held over the Wonmunna iron ore mine now owned by Mineral Resources.


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## finicky (21 January 2022)

Added 10,000 @ 0.17 today. Not a bad lotto ticket with the the amped up exploration expenditure: airborne gravity and electromag surveys, engaged expert geo consultant for targeting, hired 3 new geos. And largely if not entirely paid for by an iron ore mining royalty from a major (MIN). Dec Quarterly coming up.
Also the weekly chart is in an uptrend, albeit laborious and overlapping.

Weekly


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## Sean K (21 January 2022)

finicky said:


> Added 10,000 @ 0.17 today. Not a bad lotto ticket with the the amped up exploration expenditure: airborne gravity and electromag surveys, engaged expert geo consultant for targeting, hired 3 new geos. And largely if not entirely paid for by an iron ore mining royalty from a major (MIN). Dec Quarterly coming up.
> Also the weekly chart is in an uptrend, albeit laborious and overlapping.
> 
> Weekly
> View attachment 136248




Buying on a day like today is exactly what I'd expect from you. Now, I should definitely research it.


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## finicky (21 February 2022)

Up 8% 8ntraday on low volume but could be auspicious.

Dec Half Year reported which shows that they spent less on exploration and other outgoiings than received from the increasingly lucrative Mineral Resources (MIN) royalty.
H1 *profit* 1/4 million dollars after spending $1.2m on exploration.
Holding $10.2m cash/equivalents (pcp $$9.9m)
And this royalty exposure to revenue received by MIN on the tenement might double.

Plus they haven't given up on Lucknow and have a new theory as to where the displaced super grade Au remnant orebody might have got shifted to by complicated faulting.

From the Half Yearly Report:

"Royalties:

As previously announced to the ASX10, Talisman holds an uncapped 1% gross revenue royalty on the sale of iron ore (and other mineral and metals) from Mineral Resources Limited’s (ASX: MIN) (MRL) Wonmunna Iron Ore Mine (Wonmunna) located in the Pilbara region of Western Australia. Iron ore production commenced at Wonmunna in March 2021 and is *currently operating at* its designed production output of *5 million tonnes* per annum (Mtpa). 

Additionally, MRL has announced that* it has received the required approvals* to potentially expand Wonmunna’s production output up to *10Mtpa*. During the reporting period Talisman received royalties from iron ore sales at Wonmunna totalling $2.7 million."


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## finicky (21 February 2022)

Kerry Harmanis, chairman and largest shareholder speaking - mostly about their Cobar basin prospects:
Talisman is a well funded junior with an eye on big copper-gold deposits in the Cobar


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## finicky (21 February 2022)

*Jon Hronsky* - Our conceptual prospect targeter:








						Jon Hronsky OAM (BAppSci, PhD) - Western Mining Services
					

Jon has more than thirty-five years of experience in the global mineral exploration industry, primarily focused on project generation, technical innovation and exploration strategy development. He has worked across a diverse range of commodities and geographies, and has particular expertise in...




					www.wesminllc.com
				




*OUR MISSION

We formed Western Mining Services (WMS) in 2005 and our mission has always been simple:

We Help Our Clients Achieve Mineral Exploration Success!

We deliver mineral discovery opportunities and sound advice that is grounded in our extensive experience and our keen understanding of exploration systems.*


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