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Tempest Minerals Limited ( (AU:TEM) ) has shared an update.
Tempest Minerals has signed a binding agreement to sell its approximately 1,000 square kilometre Yalgoo Project tenement package to Capricorn Metals for A$4.5 million in cash and Capricorn shares, with additional contingent payments tied to future resource definition and a mining decision. The deal allows Capricorn to consolidate its growing footprint in the Yalgoo region while Tempest retains iron ore rights over key eastern tenements, continues to participate in non-iron upside through milestone payments, and redirects its exploration focus to other Western Australian projects including the Remorse magnetite deposit (via an existing Green Steel and Iron arrangement), as well as its Range, Five Wheels and Elephant prospects.
More about Tempest Minerals Limited
Tempest Minerals Ltd is an Australian exploration company focused on discovering and developing mineral resources in Western Australia, with a portfolio that includes gold, base metals and iron-bearing projects such as Yalgoo, The Range, Five Wheels and Elephant. The company uses data-driven exploration techniques to target underexplored but highly prospective geological domains, and has identified multiple new mineralisation occurrences and the substantial Remorse magnetite deposit within its Yalgoo holdings.
YTD Price Performance: -9.09%
Average Trading Volume: 1,504,713
Technical Sentiment Signal: Sell
Current Market Cap: A$7.71M
Find detailed analytics on TEM stock on TipRanks’ Stock Analysis page.