The Latest TEM News
Tempest Minerals has recently finalised the sale of 2 million shares in Tolu Minerals Limited (ASX: TOK), generating $1M in proceeds. This strategic move not only bolsters TEM’s financial position but also allows the company to maintain exposure to TOK’s promising gold project portfolio. With this infusion of capital, TEM is poised to accelerate its exploration efforts, particularly focusing on the upcoming drill program at the Remorse copper target in Yalgoo.
TEM Exploration Plans:
TEM is actively advancing its exploration plans across various projects. In addition to drilling activities at the Remorse and Sanity targets in Yalgoo, TEM will initiate fieldwork across other projects. This proactive approach underscores TEM’s commitment to unlocking the potential of its mineral assets across its portfolio.
Copper Supply Crunch:
Amidst the backdrop of a looming copper supply crunch, TEM’s focus on the Remorse copper target gains even greater significance. With global demand for copper on the rise, driven by the transition to renewable energy and electric vehicles, securing new sources of this essential metal has become paramount. In an ARF article, Citi and Goldman Sachs have both said that “copper’s time is now,” as supply risks continue to mount and claim that copper will reach at least $10,000 by year end and $12,000 by Q1 next year. Read more here.
TEM’s proactive approach to copper exploration positions the company to capitalise on the growing demand and contribute to alleviating supply constraints in the market.
TEM’s strategic sale of TOK shares and concerted efforts in advancing exploration activities highlight the company’s proactive stance in navigating the dynamic mineral exploration landscape. With a solid financial foundation and a clear roadmap for exploration, TEM is poised for growth and success in pursuing its mineral exploration objectives.
