Tempest Minerals (ASX:TEM) to Raise AU$1M for Western Australian Exploration

April 02, 2025 11:59 AM AEDT | By Sonal Goyal

Tempest Minerals (ASX:TEM) to Raise AU$1M for Western Australian Exploration — Image source: Company update

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Highlights

Tempest aims to raise AU$1 million through a placement at AU$0.005 per share.

Cambrian Limited, an international investor, commits AU$250,000 to the placement.

The two-tranche placement will be followed by a pro-rata rights issue.

Funds raised will support exploration at Tempest’s Western Australian projects, with a focus on the Remorse Project

Tempest Minerals Ltd (ASX:TEM) plans to raise AU$1 million through a placement of new shares at AU$ 0.005 per share, to be issued in two tranches. As part of this initiative, the company has entered into a binding agreement with Cambrian Limited, a renowned international natural resources investor.

Cambrian is linked to high-profile corporate executive Mr Neil Herbert—Executive Chairman of Atlantic Lithium Ltd, which is listed on the ASX, AIM, and GSE. Cambrian will participate in the capital raise by committing AUD$250,000 and will assist with the remainder of the placement.

Following the placement, Tempest plans to offer a pro-rata rights issue to existing shareholders.

Use of Funds

Proceeds from the placement will be directed toward the ongoing exploration and development of Tempest’s Western Australian exploration assets. A key focus will be advancing the company’s highly prospective Remorse Project.

TEM shares were trading at AU$0.005 apiece at the time of writing on 2 April 2025.

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