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Torque Metals Ltd. ( (AU:TOR) ) has provided an update.
Torque Metals Limited has successfully raised $16.2 million through a $15 million institutional placement and an additional $1.16 million from early option exercises. This funding strengthens Torque’s balance sheet, enabling an aggressive drilling program at the Paris Gold Project starting in early January 2026. The funds will primarily support drilling efforts to explore high-grade lodes and new targets, with a small portion allocated to working capital and corporate costs. This financial boost positions Torque to significantly advance its exploration activities and potentially increase its resource base, reflecting strong investor confidence and support.
The most recent analyst rating on (AU:TOR) stock is a Hold with a A$0.29 price target. To see the full list of analyst forecasts on Torque Metals Ltd. stock, see the AU:TOR Stock Forecast page.
More about Torque Metals Ltd.
Torque Metals Limited is a company operating in the mining industry, focusing primarily on gold exploration and development. The company’s flagship project is the Paris Gold Project located in Western Australia, where it aims to expand its exploration activities and assess production pathways.
Average Trading Volume: 2,103,319
Technical Sentiment Signal: Buy
Current Market Cap: A$165.1M
For detailed information about TOR stock, go to TipRanks’ Stock Analysis page.