Talisman Mining
Talisman Mining is an ASX-listed (TLM) Australian mineral exploration company developing copper-gold and base-metals projects across NSW and South Australia, with a single royalty income stream from the Wonmunna Iron Ore Project operated by Mineral Resources.
- Company typePublic
- Founded1997
- HeadquartersPerth, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Talisman Mining does
Talisman Mining Limited (ASX: TLM) is an Australian mineral exploration and development company headquartered in West Perth that targets copper-gold and base-metals discoveries in Australia's premier mining jurisdictions. The company's core assets are three exploration projects: the ~6,000km² Lachlan Fold Belt project in NSW (with high-grade Zn-Pb-Ag-Cu-Au intersections at the Durnings prospect, including 6m at 10.3% Pb, 3.5% Zn, 126g/t Ag from 274m, and 28m at 4.03g/t Au, 0.9% Cu, 3.8% Pb from 370m), the undrilled Yarindury Porphyry Cu-Au Project in the Macquarie Arc (NSW), and the ~1,050km² Mabel Creek IOCG Project in South Australia's Gawler Craton, adjacent to Olympic Dam, Carrapateena and Prominent Hill. Underlying technology is conventional mineral exploration — geological mapping, diamond and air-core drilling, geochemistry, geophysics and resource delineation — with no proprietary software, patents or technology platform disclosed.
The company's business model is unusual for a junior explorer: it does not generate revenue from its own operations (exploration activities are expensed, producing consistent operating losses of A$5.3M–A$12.2M per year from 2021–2024) and instead derives cash inflows from a single uncapped 1% gross revenue royalty on the Wonmunna Iron Ore Project operated by Mineral Resources (ASX: MIN), which has delivered A$22.3M in cumulative receipts since production commenced in March 2021. Exploration is funded through equity issuance (notable placements of A$8M in July 2015 and A$16.7M in March 2016) and capital recycling, including a A$29M capital return to shareholders in February 2019 and the A$49.7M sale of the Springfield JV interest to Sandfire Resources in 2018. The customer base is effectively a single counterparty (Mineral Resources) on the income side, with no offtake customers on the exploration side. Distribution is conducted exclusively through ASX disclosures, investor presentations at conferences such as Diggers and Dealers and Resources Rising Stars, and the corporate website. Leadership is transitioning in May 2026, with Todd Ross appointed CEO to succeed Andrew Munckton; the board is chaired by Kerry Harmanis (founder of Jubilee Mines NL, sold to Xstrata for A$3.1B in 2007), who holds an 18.6% stake.
Talisman Mining firmographics
Firmographics- Name
- Talisman Mining
- Legal name
- Talisman Mining Limited
- Website
- https://talismanmining.com.au
- Company type
- Public
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Talisman Mining is an ASX-listed (TLM) Australian mineral exploration company developing copper-gold and base-metals projects across NSW and South Australia, with a single royalty income stream from the Wonmunna Iron Ore Project operated by Mineral Resources.
- Ownership category
- akta.pro rank
Talisman Mining industry classification
Industry- Product category
- Mineral Exploration and Development
- NAICS
- Gold Ore and Silver Ore Mining (212220), Other Metal Ore Mining (212290)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040)
- akta.pro primary industry
- Precious Metals Exploration & Project Development (IMAKAEAI)
- akta.pro secondary industries
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Gold Mining (IMAKAEAA)
Keywords
Where Talisman Mining is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Talisman Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D
Revenue model
- Royalty Income: Pre-revenue explorer generating income through uncapped 1% gross revenue royalty from the Wonmunna Iron Ore Project, operated by Mineral Resources (ASX: MIN). Production commenced March 2021 with $22.3m in receipts to date. Revenue is dependent on iron ore production volumes and commodity prices.
Distribution channels1 record
Marketing channels3 records
Talisman Mining product offering
Product offeringCore offering
Talisman Mining is an Australian mineral exploration and development company focused on the discovery and advancement of copper-gold and base metals projects, with active exploration in the Lachlan Copper-Gold and Macquarie Arc regions of New South Wales and at Mabel Creek in South Australia. The company also holds a royalty interest over the Wonmunna Iron Ore Project, providing a passive income stream alongside its exploration activities.
Product overview
Talisman Mining is a diversified Australian exploration company with a portfolio of three exploration projects across New South Wales and South Australia, plus a royalty asset. The Lachlan NSW Project (~6,000km2) targets base metals, copper-gold, lead-zinc-silver in the Lachlan Fold Belt. The Macquarie NSW Project (Yarindury Prospect) targets porphyry copper-gold in the Macquarie Arc. The Mabel Creek IOCG Project (~1,048km2) targets copper-gold in South Australia's Gawler Craton. The company also holds an uncapped 1% gross revenue royalty on the Wonmunna Iron Ore project.
Differentiator
Problem solved
Functional benefit
Products and services
- Lachlan Copper-Gold Project
Quantifiable outcome
- 6m at 10.3% Pb, 3.5% Zn, 126g/t Ag, 0.4% Cu, 1.93g/t Au from 274m at Durnings
- +3 more outcomes
Companies that use Talisman Mining
Customer profileSegments1 record
Ideal customer profiles2 records
Talisman Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Talisman Mining partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Sandfire ResourceshistoricalSandfire Resources was a joint venture partner on the Doolgunna/Springfield copper-gold projects. In 2018, Sandfire completed acquisition of Talisman's interest in the Springfield JV for approximately $49.7M. Talisman had previously secured a $15M farm-in deal with Sandfire in December 2013.
Scale indicators7 records
Recent moves11 records
Expansion highlights5 records
Talisman Mining competitors and assessment
Company assessmentEmerging players
- Nordic Resources: ASX-listed base metals explorer previously led by incoming Talisman CEO Todd Ross. Comparable small-cap base metals exploration profile with similar leadership pedigree.
- Kalamazoo Resources: ASX-listed gold and base metals explorer previously led by Talisman director Peter Benjamin. Comparable junior explorer profile with similar Australian gold-copper exploration mandate and small-cap structure.
Direct peers
- DevEx Resources: ASX-listed mineral explorer previously led by incoming Talisman CEO Todd Ross. Comparable junior explorer profile focused on copper-gold and critical minerals discovery in Australia with similar market cap scale.
- Kincora Copper: ASX-listed copper-gold explorer with projects in NSW Lachlan Fold Belt, directly overlapping with Talisman's Lachlan Project. Closest geographic and geological peer for the Lachlan Copper-Gold Project.
- Stavely Minerals: ASX-listed copper-gold explorer focused on the Stavely Arc in Victoria. Comparable junior explorer profile with copper-gold discovery focus and similar market capitalization range.
- Caravel Minerals: ASX-listed copper explorer developing the Caravel Copper Project in Western Australia. Similar junior copper-focused profile with comparable exploration-to-development pathway.
- Hillgrove Resources: ASX-listed copper-gold explorer and developer with the Kanmantoo mine in South Australia. Comparable scale and copper-gold focus in Australian jurisdictions overlapping with Talisman's footprint.
- Sandfire Resources: ASX-listed copper-gold miner with historical joint venture relationship with Talisman at the Springfield/Doolgunna projects, where Sandfire ultimately acquired Talisman's 30% interest for ~$49.7m in 2018. Operates in the same Australian copper-gold districts.
Broad incumbents
- Aeris Resources: ASX-listed copper-gold producer and explorer operating in New South Wales and Queensland with similar copper-gold focus. Larger and more advanced than Talisman but competing in overlapping Australian jurisdictions.
- Alkane Resources: Mid-tier ASX-listed gold and copper explorer-producer with NSW projects. Operates in overlapping NSW mineral provinces and represents a more advanced comparable in the same exploration districts.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat2 records
Key risks6 records
Key highlights7 records
Customer concentration
Talisman Mining social profiles
Digital presenceTalisman Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Talisman Mining leadership team
Management profileNumber of profiles
Talisman Mining funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Talisman Mining M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Talisman Mining
What does Talisman Mining do?
Talisman Mining is an Australian mineral exploration and development company focused on the discovery and advancement of copper-gold and base metals projects, with active exploration in the Lachlan Copper-Gold and Macquarie Arc regions of New South Wales and at Mabel Creek in South Australia. The company also holds a royalty interest over the Wonmunna Iron Ore Project, providing a passive income stream alongside its exploration activities.
Is Talisman Mining a public or private company?
Talisman Mining is a public company. It is classified as public and is currently operating.
When was Talisman Mining founded?
Talisman Mining was founded in 1997. It employs 11 to 50 people.
Where is Talisman Mining based?
Talisman Mining is headquartered in Perth, Australia, in the Oceania region.
How does Talisman Mining make money?
One revenue line is on record: royalty Income.
Who are Talisman Mining's main competitors?
Emerging players on record are Nordic Resources and Kalamazoo Resources. Direct peers are DevEx Resources, Kincora Copper, Stavely Minerals, Caravel Minerals, Hillgrove Resources and Sandfire Resources. Broad incumbents are Aeris Resources and Alkane Resources.
Does Talisman Mining have an API?
No public API is recorded for Talisman Mining.
What industry is Talisman Mining in?
Talisman Mining's product category is Mineral Exploration and Development. Its primary akta.pro industry code is IMAKAEAI, Precious Metals Exploration & Project Development, with a secondary code of IMAKADAB, Copper Ore Mining (Open-Pit & Underground). Its NAICS code is 212220 and its SIC code is 1000.