Tempest raises exploration cash
PERTH (miningweekly.com) – Junior Tempest Minerals has completed a A$8.44-million capital raise to fund exploration work in Western Australia.
The ASX-listed company said on Tuesday that it will place 99.3-million shares, at a price of 8.5c each, under its existing placement capacity, with the placement cornerstoned by several leading domestic and international institutional investors and funds.
“It is pleasing to receive a very positive response from high net worth, sophisticated and professional investors who see the value in our projects,” said chairperson Brian Moller.
“Our recent mineralised discovery in the Yalgoo region highlights only one example of the huge potential that Tempest is able to unlock. With the strengthened cash position, we’ll have great flexibility to scale up our drilling and other activities to provide more strong newsflow to shareholders,” he added.
Funds raised will be used to progress the company’s exploration portfolio, with initial focus on fast-tracking exploration at the Yalgoo projects, including the recent high profile Meleya discovery.
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