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The latest announcement is out from Tambourah Metals Ltd ( (AU:TMB) ).
Tambourah Metals Ltd successfully completed its 1-for-8 pro-rata non-renounceable entitlement offer, which was oversubscribed, resulting in the application for 20,867,465 shares by eligible shareholders. After scaling back, 18,385,998 shares were issued, raising $367,720 in new equity. The funds will be used for drilling and exploration activities at various projects, including the Tambourah Gold Project and Beatty Park Gold Project, as well as for general working capital. This successful capital raising strengthens Tambourah’s financial position, enabling further exploration and development activities, which could enhance its industry positioning and provide potential value to stakeholders.
More about Tambourah Metals Ltd
Tambourah Metals Ltd is a West Australian exploration company founded in 2020, focusing on the development of gold and critical mineral projects. The company is actively exploring for gold and critical minerals at the Tambourah, Shaw River, and Speewah Nth projects, as well as gold at the Bryah project in the Murchison region. Since its listing, Tambourah has expanded its portfolio to include additional critical mineral projects in the Pilbara and gold projects in the Bryah.
Average Trading Volume: 1,202,953
Technical Sentiment Signal: Sell
Current Market Cap: A$3.09M
Learn more about TMB stock on TipRanks’ Stock Analysis page.