The Talisman Mining Ltd (ASX: TLM) share price is racing higher today, up 12.25% to 11 cents on the back of a drilling and corporate update.

Talisman Mining is an Australian mineral development and exploration company focused on opportunities in base and precious metals.

The company’s key asset is the Lachlan Project within the Cobar/Mineral Hill region in New South Wales. Talisman believes there is significant potential for the discovery of substantial base metals and gold mineralisation within this land package.

Additionally, in August 2019, Talisman entered into a farm-in agreement with privately-owned Lucknow Gold in relation to the Lucknow Gold Project in NSW. The Lucknow Goldfield is located within the Macquarie Arc which hosts extensive gold and copper mineralisation, including Newcrest Mining Limited (ASX: NCM)’s Cadia-Ridgeway mine and Regis Resources Limited (ASX: RRL)’s McPhillamy’s project.

Before we dig into the announcement, it’s important to note that Talisman Mining sits at the smaller end of the ASX with a current market capitalisation of around $20 million.

What did Talisman Mining announce?

This morning, Talisman revealed that diamond drilling at the Lucknow Gold Project will begin this month. 

The planned diamond drilling will target an interpreted high-grade lode offset position at Lucknow where historic production was in excess of 400,000 ounces at grades of more than 100 grams per tonne (g/t) gold. 

Drilling was supposed to start in April but was postponed due to COVID-19.

Talisman also provided a corporate update this morning, revealing that exploration drilling and ongoing business development activities have resumed. As a result, the company has lifted a number of measures put in place from the beginning of April in response to the pandemic.

Accordingly, director fees have reverted to pre-COVID-19 levels and senior executives have returned to a full-time working week on pre-pandemic salaries. In addition, the company is expecting a staged return to work for its remaining workforce over the coming weeks, in line with anticipated workflows.

Talisman Mining shares are currently changing hands at 11 cents apiece and have a 4-week average turnover of $34,602 according to Market Index.

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Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a day in the red. At the time of writing the benchmark index is down 0.4% to 5,968 points.

Four shares that have fallen more than most today are listed below. Here’s why they are tumbling lower:

The Appen Ltd (ASX: APX) share price is down almost 4% to $29.31. This follows an announcement which revealed that several directors have been selling shares. The biggest seller was its Non-Executive Chairman, Chris Vonwiller. He offloaded 2 million Appen shares on-market for an average of $29.00 per share. This represents a total consideration of $58 million. The company’s CEO, Mark Brayan, also sold shares.

The CSL Limited (ASX: CSL) share price is down 4% to $283.02. The biotherapeutics company’s shares have come under a bit of pressure in recent weeks amid concerns that plasma collections could be impacted due to the pandemic. One broker that isn’t concerned is Citi. On Thursday it retained its buy rating and $334.00 price target on CSL’s shares.

The Openpay Group Ltd (ASX: OPY) share price has tumbled 13% to $3.05. The buy now pay later provider’s shares have come under pressure since completing an institutional placement on Thursday. Openpay raised $33.8 million through at a discount of $2.40 per share. These funds will be used to accelerate its growth in the UK and Australia and support further geographic expansion.

The Zip Co Ltd (ASX: Z1P) share price is down 7% to $5.53. This decline appears to be a case of profit taking after some very strong gains this month. Investors have been fighting to get hold of the payments company’s shares after it announced its expansion into the United States. It is moving into the $5 trillion market through the acquisition of New York-based QuadPay.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and ZIPCOLTD FPO. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Appen, CSL, Openpay, & Zip Co shares are tumbling lower appeared first on Motley Fool Australia.

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