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Highlights
- Tempest has completed the sale of the Yalgoo Project to Capricorn Metals for a total consideration of AUD 4.5 million in cash and shares.
- The agreement features contingent payments triggered by JORC resource upgrades and formal mining commencement decisions.
- Tempest retains iron rights over eastern tenements, including the Remorse Deposit and the Halo Target.
Tempest Minerals Ltd (ASX:TEM) has completed the sale of its Yalgoo Project in Western Australia to ASX-listed Capricorn Metals Limited for a total consideration of AUD 4.5 million comprising cash and shares, with additional milestone-based payments potentially to follow. The divestment allows Tempest to retain iron rights over key tenements while advancing its broader exploration and development portfolio across Western Australia.
Transaction Completed with AUD 4.5M Consideration
The deal structure included an initial AUD 100,000 cash deposit paid in December 2025. At settlement, CMM provided a further AUD 400,000 in cash and issued 294,811 CMM shares to Tempest. The share component, valued at AUD 4 million, was calculated based on the five-day volume weighted average price (VWAP) of CMM shares prior to completion.
The agreement also outlines potential contingent payments tied to future development milestones at Yalgoo. CMM has committed to:
- A cash payment of AUD 750,000 upon the announcement of a JORC-compliant Mineral Resource Estimate >75koz.
- A further AUD 750,000 in cash following the Board’s formal resolution to begin commercial mining operations.
- Resource milestone payments, capped at three payments, once per tenement.
At the time of writing on 16 February 2026, Tempest shares were trading at AUD 0.0060.
