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Terrain Minerals Ltd ( (AU:TMX) ) has shared an update.
Terrain Minerals has secured binding commitments from sophisticated and professional investors to raise approximately $1.5 million through a placement of about 375 million new shares at $0.004 each, to settle in a single tranche under its existing placement capacity. The capital injection, arranged with Sharewise Capital as lead manager, ends a trading halt and broadens the shareholder base, including new European investors.
Proceeds will fund advancement of the Smokebush – Lightning Project towards a maiden mineral resource estimate and mining studies, alongside further infill and exploration drilling. Additional funds will support progress at the Lort River rare earths and Carlindie lithium-gold projects, as well as other exploration initiatives and general corporate costs, underpinning Terrain’s multi-commodity growth strategy in battery and precious metals.
More about Terrain Minerals Ltd
Terrain Minerals Limited is a Perth-based mineral exploration company listed on the ASX and FSE, with a diversified portfolio of 100%-owned gold, gallium, rare earths, lithium and copper projects across Western Australia and Queensland. Its key assets include the Smokebush Gold & Gallium Project, Biloela Gold and Copper Project, Lort River Rare Earths Project and Carlindie Lithium & Gold Project, with a strategy focused on discovery, resource growth and strategic partnerships.
Current Market Cap: A$15.01M
See more insights into TMX stock on TipRanks’ Stock Analysis page.