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Highlights
- Tempest Minerals (TEM) raises over $600K via entitlement offer
- Capital to fund exploration at the Yalgoo Project in WA
- Additional free-attaching options offered with shares
Tempest Minerals (ASX:TEM), a Western Australia-based mineral exploration company, has successfully completed a capital raise through an entitlement offer, bringing in approximately $605,553. The company is focused on exploring precious, base, and energy metals, and this latest capital initiative aims to boost progress at its flagship Yalgoo Project, among other ventures.
The entitlement offer, which was announced in May 2025, invited shareholders to participate on the basis of one ordinary share for every two shares held, priced at $0.004 per share. The offer attracted strong investor interest, with a total of 151.39 million shares applied for. This comprised 127.35 million entitlement shares (with 31.84 million accompanying options) and 24.04 million shares (with 6.01 million options) allocated from the shortfall.
The shortfall portion of the offer reflected participation from about 39.01% of the eligible shareholder base. In total, Tempest is expected to issue approximately 223.99 million shares and 56 million options. These free-attaching options are exercisable at $0.01 per share and can be used on or before 31 May 2027, providing additional long-term incentives for shareholders.
Funds raised from this initiative are earmarked to further exploration activities at the Yalgoo Project, along with iron development work and general project costs. The Yalgoo Project, located in a mineral-rich region of Western Australia, is seen as a strategic focus for Tempest as it seeks to expand its footprint in critical minerals essential to the global transition towards clean energy technologies.
In the context of the broader Australian share market, developments like these reflect the dynamic nature of the S&P/ASX200 index landscape, where junior explorers and established resource companies alike contribute to sector performance and investor sentiment. While Tempest is not currently a constituent of the ASX200, its operational momentum and strategic investments place it among the many emerging names on investor watchlists.
Moreover, in a climate where investors are increasingly evaluating income-generating opportunities, many continue to track developments in ASX dividend stocks, which provide regular returns in contrast to the capital gain focus of early-stage explorers.
Tempest Minerals is set to officially issue the new shares and options. This step not only reflects a successful capital raise but also a reaffirmation of its growth trajectory as it deepens its exploration footprint across Western Australia.
