Tempest Minerals

Placement of Shortfall from Rights Issue

Further to the Company’s announcement dated 10 July 2024, Tempest Minerals Limited ASX: TEM) (“Tempest” or the “Company”) is pleased to announce that it has completed the placement of the Shortfall arising from the non-renounceable pro-rata Entitlement Offer (Offer) offered on the basis of 1 new share for every five (5) fully paid ordinary shares held at an issue price of $0.008 per new share and has issued 79,573,471 shares raising a further $636,587, for a total raising of $830,602 from the Rights Issue.


Under the terms of the Offer Issue as outlined in section 1.11 of the Rights Issue Offer Document, the Directors allocated the Shortfall at their discretion to various parties who previously expressed potential interest in taking up the Shortfall.

Tempest welcomes the new shareholders and is excited to further progress our exploration at our Western Australian projects including our upcoming drilling at the Remorse Target, which is expected to begin imminently.

For managing the Shortfall, the facilitator will be paid a 6% fee and has, as part of its compensation, subscribed for 9,946,684 options exercisable at $0.016, expiring on or before 6 August 2026 at an issue price of $0.00001 (‘Options’). The Options were issued under Listing Rule 7.1.

The Board of the Company has authorised the release of this announcement to the market.


Click here for the full ASX Release

This article includes content from Tempest Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

TEM:AU
The Conversation (0)
Tempest Minerals

Tempest Minerals

A diverse portfolio of projects in Western Australia that are prospective for precious, base and energy metals in addition to iron ore.

A diverse portfolio of projects in Western Australia that are prospective for precious, base and energy metals in addition to iron ore. Keep Reading...
Completion of Shortfall Offer

Completion of Shortfall Offer

Tempest Minerals (TEM:AU) has announced Completion of Shortfall OfferDownload the PDF here. Keep Reading...
Further Excellent Metallurgical Results From Remorse-Yalgoo

Further Excellent Metallurgical Results From Remorse-Yalgoo

Tempest Minerals (TEM:AU) has announced Further Excellent Metallurgical Results From Remorse-YalgooDownload the PDF here. Keep Reading...
Entitlement Offer Results

Entitlement Offer Results

Tempest Minerals (TEM:AU) has announced Entitlement Offer ResultsDownload the PDF here. Keep Reading...
Geochemical Sampling Extends Sanity Gold Anomalies - amended

Geochemical Sampling Extends Sanity Gold Anomalies - amended

Tempest Minerals (TEM:AU) has announced Geochemical Sampling Extends Sanity Gold Anomalies - amendedDownload the PDF here. Keep Reading...
Yalgoo - Geochemical Sampling Extends Sanity Gold Anomalies

Yalgoo - Geochemical Sampling Extends Sanity Gold Anomalies

Tempest Minerals (TEM:AU) has announced Yalgoo - Geochemical Sampling Extends Sanity Gold AnomaliesDownload the PDF here. Keep Reading...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: BPM Minerals Gains 111 Percent

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on gold, antimony, lithium and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their... Keep Reading...
World map on red background featuring stock market graphs and numeric data overlays.

Frank Giustra: US Debt, Midterm Elections and Shifting Global Order Highlight Gold and Copper

The US midterm elections may have reshaped the political landscape in Washington, but they are unlikely to change what mining investor and Fiore Group CEO Frank Giustra sees as the country's biggest economic problem: an unsustainable debt burden and a growing loss of confidence in the US... Keep Reading...
Wooden blocks on a gray surface read 2026, with a blue background and a tilted block showing 7 and 6.

Aging Mines, Operational Hurdles Top EY’s 2027 Risk Ranking

The mining industry’s biggest risk for 2027 sits in its own pits, as operational complexity leads EY’s latest ranking of business risks and opportunities for mining and metals, ahead of capital, supply chains and rising costs. According to the consulting firm's recently published report, ore... Keep Reading...
Gold bar with financial graphs overlays.

Gold Price Climbs Above US$4,000 After Democrat Midterm Win

The gold price was on the rise on Wednesday (November 4), climbing above US$4,000 per ounce as the US dollar weakened following midterm elections in the country. Spot gold advanced to US$4,063, while spot silver jumped to US$52.32 per ounce by 4:55 p.m. EST. The US Dollar Index fell around 0.3... Keep Reading...
John Feneck, gold bars.

John Feneck: Gold, Silver, Midterms — Price Impact as US Votes

How will US midterm elections affect gold and silver prices? John Feneck, portfolio manager and consultant at Feneck Consulting, shares his thoughts, saying both precious metals could see further downside in the short term if Republicans lose both the House and Senate; however, the long-term... Keep Reading...
Adrian Day, gold bars.

Adrian Day: Gold Below US$4,000 — Buy Stocks Now or Wait?

Adrian Day, president of Adrian Day Asset Management, shares his thoughts on gold, saying while he's optimistic long term, the price could still fall further. "When do we jump in? You know, if I didn't own a single gold stock today, I would certainly be looking to buy (this) week. But if I've... Keep Reading...

Interactive Chart

Latest Press Releases

Related News