The company is currently trading at $0.012, and investors could have snapped up shares at half this amount just last month.
Driving the positive re-rating is the new JORC resource, which this week doubled in size to 312,800 ounces at 21.98g/t gold.
The resource is hosted at the wholly-owned Talisman Gold Mine in New Zealand.
At the time of the new resource, Matthew Hill, CEO, commented:
"The grades established of up to 146.2 g/t for an average of 21.98 g/t places this deposit as one of the highest grade mineral resources in New Zealand and ranks in the top 5 worldwide.
"The dramatic increase in Dubbo resources ultimately proves our long-held belief that there is significant remaining ore at depth."
New Talisman retains a 100% interest in the Talisman Mine and a 20% interest in the Rahu Project which is immediately to the north.
A pre-feasibility study for underground mining at Talisman confirmed an initial phase one life of mine of 5 years to generate NZ$68.2 million in revenues and a cash surplus of NZ$23.4 million.
During August 2016, the company commenced an exercise to quantify gold mineralisation thought to be hosted at depths, which is known as Talisman Deeps.