Terramin Australia Launches $38.3 Million Rights Issue to Fund Key Projects

Terramin Australia Limited ( (AU:TZN) ) has shared an announcement.

Terramin Australia Limited has announced a non-renounceable rights issue to raise up to A$38.3 million by offering new shares at a 20.2% discount to existing shareholders. The funds will be used to repay debt, develop the Tala Hamza Zinc Project, cover costs related to the Bird in Hand Gold Project, advance the Kapunda Copper Project, and support exploration and working capital. Asipac Group Ltd, holding a significant stake in Terramin, will underwrite the offer up to A$15 million, ensuring financial backing for the company’s strategic initiatives.

More about Terramin Australia Limited

Terramin Australia Limited is a company in the mining industry, focusing on the exploration and development of mineral projects. Its primary products include zinc, gold, and copper, with significant projects such as the Tala Hamza Zinc Project, Bird in Hand Gold Project, and Kapunda Copper Project. The company operates in Australia and Algeria, aiming to advance its project pipeline and strengthen its market position.

Average Trading Volume: 100,223

Technical Sentiment Signal: Sell

Current Market Cap: A$99.48M

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