Tempest Minerals Wraps Up Shortfall Offer, Boosting Exploration Funding

June 26, 2025 11:20 AM AEST | By Team Kalkine Media

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Tempest Minerals Wraps Up Shortfall Offer, Boosting Exploration Funding — Image source: shutterstock

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Highlights

Tempest Minerals completes shortfall offer, raising nearly $896K

Funds directed to Yalgoo Project and related developments

Offer structure includes shares with free-attaching options

Tempest Minerals (ASX:TEM) has successfully concluded a shortfall offer, raising approximately $895,968, complementing the earlier proceeds of $605,553 from a pro-rata non-renounceable entitlement offer. This brings the total capital raised to about $1.469 million, a significant boost toward advancing its Yalgoo Project and broader exploration goals in Western Australia.

Offer Structure and Participation

The shortfall offer formed part of a broader entitlement offer extended to existing shareholders. Eligible participants were offered one new share for every two shares held, priced at $0.004 per share, along with a free-attaching option exercisable at $0.01, expiring on 31 May 2027. These options were granted at a rate of one option for every four new shares issued.

Despite the uptake of the initial entitlement, a shortfall of around 39.01% remained. This portion equated to approximately 223.99 million shares and 56 million options, all of which have now been allocated, showcasing continued support and confidence in the company’s resource potential.

Strategic Use of Funds

The raised capital will primarily be directed toward exploration activities at the Yalgoo Project, a flagship asset for Tempest Minerals located around 400km north of Perth. Spanning 1,000 square kilometers, this site is rich in exploration potential, being prospective for a range of commodities including copper, gold, base metals, precious metals, and iron ore.

In addition to fieldwork, the funds will also support ongoing iron development initiatives and cover associated project expenses, strengthening the company’s operational readiness and technical capabilities.

Outlook in the ASX Landscape

Tempest Minerals continues to focus on its diversified portfolio of mineral projects with strategic potential across precious, base, and energy metals. While not part of the S&P/ASX 200 list currently, the company’s progress in capital raising and exploration milestones underscores a growth trajectory that aligns with broader trends in Australia’s dynamic mining sector.

As the demand for critical minerals rises globally, particularly across energy transition and infrastructure sectors, Tempest’s developments at Yalgoo could play a crucial role in shaping future opportunities within the junior explorer space on the ASX.

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