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Tempest Minerals (ASX:TEM) updates on Tolu Minerals’ proposed IPO on ASX - Kalkine Media

February 07, 2023 11:49 AM AEDT | By Ankit Sethi
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Highlights

  • Tolu Minerals, in which Tempest Minerals has an investment, is looking to raise up to AU$15M through IPO on ASX
  • Tolu, which is pursuing high-grade gold opportunities in Papua New Guinea, is looking for a listing in Q1 2023
  • TEM became a shareholder in Tolu by investing AU$1 million in September last year

Tempest Minerals (ASX:TEM) has released an upbeat update concerning Tolu Minerals, which has commercial interests in high-grade gold sites including the Tolukuma Gold Mine in Papua New Guinea. 

Tolu is looking to raise between AU$10 million and AU$15 million with an intent to list on the ASX in February 2023. The prospectus for the offer was filed by Tolu in December 2022. 

Tempest Minerals made an investment of AU$1 million in Tolu Minerals in September 2022. 

More to come…


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