Tempest Minerals (ASX:TEM) has successfully closed a non-renounceable entitlement offer, raising AUD 605,553 to fund its Yalgoo Project in Western Australia. The offer, structured at one new share for every two held (at $0.004/share), attracted 127.35 million entitlement applications, plus 24.04 million additional shares from shortfall applications. Each new share was paired with a free-attaching option exercisable at $0.01 before May 31, 2027.
The funds will be directed towards advancing exploration at Yalgoo—particularly iron development at Remorse—alongside ongoing greenfield gold and base‑metal drilling Cygnet Capital acted as the lead manager for the raise and may allocate the shortfall over the next three months
