- Tempus Resources (TMR) has completed the second phase of its $4 million capital raise by raising just over $3 million
- Phase one saw more than 7.7 million shares issued at a price of 13 cents to raise just over $1 million
- Phase two issued more than 18.4 million shares issued with prices varying between 13 cents and 18.5 cents
- Tempus will specifically use the money from phase two for its Blackdome-Elizabeth Gold Project in British Columbia, Canada
- Tempus is up an even four per cent and shares are currently trading for 26 cents each
Tempus Resources (TMR) has completed the second phase of its $4 million capital raise and has raised $3,000,170.
On May 4, the company announced that it was looking to raise $4 million for its exploration projects in Ecuador and Canada.
Phase one saw 7,739,843 shares issued at a price of 13 cents each to raise $1,006,179.
Phase two consisted of 2,307,700 shares being issued at a price of 13 cents to raise $300,001, and 5,649,217 shares issued at 13.5 cents to raise $762,644.
A total of 10,473,108 shares were then be issued at a price of 18.5 cents to raise the remaining $1,937,525.
Aesir Capital and Clarus Securities acted as joint lead managers. To thank them, Aesir was issued with three million unlisted options with an exercise price of 15 cents and an expiry date three years from issue.
Meanwhile, Clarus was issued 338,953 unlisted options with an exercise price of 13.5 cents and 514,873 unlisted options with a price of 18.5 cents. All shares will expire two years from issue.
Tempus will specifically use the money from phase two for its Blackdome-Elizabeth Gold Project in British Columbia, Canada.
This project lies within the gold producing area of British Columbia and it is made up of two separate mineralisation styles, the Elizabeth Zone and the Blackdome Zone.
The Elizabeth Zone is located 200 kilometres north of Vancouver and it has a historical inferred mineral resource estimate of 206,000 ounces of gold at 12.26g/t.
The Blackdome Zone is situated 30 kilometres north of the Elizabeth Zone and it has an indicated resource of 52,600 ounces of gold at 11.29g/t, and an inferred resource of 25,000 ounces of gold at 8.79g/t.
Tempus is up an even four per cent and shares are trading for 26 cents each at 11:39 am AEST.