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Highlights
- Tempest Minerals has confirmed the allotment of shares and options to raise AUD 400,000.
- 100 million shares issued at AUD 0.004 with 25 million free attaching options.
- Funding to advance the Remorse Iron discovery and WA gold projects.
Tempest Minerals Ltd (ASX:TEM), an Australia-based mineral exploration company, has confirmed the allotment of 100 million ordinary fully paid shares at AUD 0.004 per share, together with 25 million free attaching options, to raise AUD 400,000 (before costs).
The options are exercisable at AUD 0.01 each and expire on 31 May 2027. Of the shares issued, 62.7 million were allocated under the company’s existing placement capacity under ASX Listing Rule 7.1A. The remaining 37.3 million shares, along with the 25 million options, were issued under Listing Rule 7.1.
As per the company, proceeds from the placement would be used to fund ongoing exploration activities across its Western Australian gold portfolio, advance the development of its recent Remorse Iron discovery in the Yalgoo Region, and support general working capital requirements.
Shares of TEM last traded at AUD 0.005 on 05 May 2025.
