Terrain Minerals Announces Rights Issue to Fund Exploration Expansion

Terrain Minerals Ltd ( (AU:TMX) ) has issued an announcement.

Terrain Minerals Limited has announced a pro-rata non-renounceable rights issue to raise approximately $1.8 million, offering eligible shareholders the opportunity to purchase new shares with free-attaching options. The funds will be used to advance exploration activities at several projects, including further drilling at the Smokebush Gold Project and the commencement of exploration at the Biloela Copper Gold project. The company has reported promising drilling results at the Smokebush project and is working towards an initial mineral resource estimate for release in 2026. Board members have shown strong support by participating in the rights issue and underwriting a portion of the shortfall, indicating confidence in the company’s strategic direction.

More about Terrain Minerals Ltd

Terrain Minerals Limited is a mineral exploration company based in Perth, Australia, with assets in Western Australia and Queensland. It is listed on the Australian Securities Exchange under the code TMX and has a secondary listing on the Frankfurt Stock Exchange. The company is focused on exploring and potentially divesting its interests in its assets, with key projects including the Smokebush Gold Project and the Larin’s Lane Gallium and REE prospect.

Current Market Cap: A$5.62M

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