Tempus shares tank, Manitoba deal is axed

The Blackdone project is Tempus Resources' flagship project.

The Blackdone project is Tempus Resources' flagship project.

6th November 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online


Font size: - +

The share price of junior Tempus Resources tanked 25% on the ASX on Monday, as the company announced the axing of a proposed lithium acquisition in Canada and the idling of its projects in Ecuador.

In addition, the Perth-headquartered junior said that it would drop its listing on the TSX-V.

The exploration company lost a quarter of its value on Monday, trading at A$0.09 a share late in the afternoon.

Tempus in September announced a heads of agreement for an option to acquire Aurora, a private company that owns the Cormorant and White Rabbit projects, in central Manitoba, Canada.

However, following the completion of due diligence, including two geological site visits and analysis of samples, Tempus said it had decided to not proceed with the proposed acquisition.

The company has also placed its two Zamora projects in Ecuador, on care-and-maintenance status and said it would seek to dispose of them.

The firm’s flagship project is the Blackdone-Elizabeth project, a past-producing gold project in British Columbia.

Tempus explained that it would delist from the TSX-V, citing minimal trading activity of shares on the exchange and the fact that most of its investors were Australia-based.

Following the delisting from the TSX-V, the Tempus board will reduce from five to three directors, with nonexecutive directors Anthony Cina and Colin Russel stepping down.

In addition, CEO Jason Bahnsen will have his salary amended to A$5 000 a month from January 1 and the remaining board members will suspend their fees from the same date.

Edited by Creamer Media Reporter



SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...


Latest Multimedia

sponsored by

Menar MD Vuslat Bayoğlu
Menar advancing on the manganese front
21st May 2024 By: Martin Creamer
On-The-Air (17/05/2024)
On-The-Air (17/05/2024)
17th May 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.195 0.229s - 108pq - 2rq
1: United States
Subscribe Now
2: United States