Tempest Minerals Limited ( (AU:TEM) ) has issued an update.
Tempest Minerals Ltd has announced a private placement to raise AUD$1,000,000, with Cambrian Limited, an international natural resources investor, committing AUD$250,000 as a cornerstone investor. The funds will be used to advance the company’s exploration projects in Western Australia, particularly the promising Remorse Project, which has shown potential for significant iron ore deposits. The placement will occur in two tranches, with shareholder approval sought for the second tranche, and a pro-rata rights issue planned for existing shareholders.
More about Tempest Minerals Limited
Tempest Minerals Ltd is an Australian-based mineral exploration company with a diverse portfolio of projects in Western Australia, focusing on precious, base, and energy metals. The company is led by an experienced board and management team with a track record of exploration, operational, and corporate success, aiming to maximize shareholder value through focused, data-driven exploration and development.
Technical Sentiment Signal: Buy
Current Market Cap: €1.83M
For an in-depth examination of TEM stock, go to TipRanks’ Stock Analysis page.