Highlights
- Tempest Minerals has completed 100% acquisition of the issued capital of Five Wheels Pty Ltd.
- The company has allotted 4,561,828 ordinary fully paid shares and paid AU$36,000 cash as consideration for the purchase.
- Five Wheels Pty Ltd holds the ownership of the Five Wheels Project, including Exploration licence 69/3884.
Tempest Minerals Limited (ASX: TEM) has completed the 100% acquisition of the issued capital of Five Wheels Pty Ltd with the allotment of 4,561,828 ordinary fully paid shares and payment of AU$36,000 cash as consideration for the purchase. The shares have been issued following the company’s existing placement capacity under Listing Rule 7.1.
Five Wheels Pty Ltd holds the ownership of the Five Wheels Project, including Exploration licence 69/3884
Till date, the project with geology similar to the neighbouring Rumble Resources’ Chinook deposit and Strickland Metals Ltd (ASX:STR) discoveries, has not been largely explored.
To know about the project, read here
TEM shares traded at AU$0.013 at the time of writing on 24 August 2023.