TPD) cashed in as exploration results circulate – The Market Herald

Talon Energy (TPD) is cashed in with $13.5m raised through a placement and stock purchase plan as recent drill and flow test results beat expectations.

But despite the latest news, the company’s share price remains stagnant.

Talon holds stakes in two major gas projects: the Walyering gas field with Strike Energy (STX) in Western Australia and Gurvantes XXXV with TMK Energy (TMK) in Mongolia.

Managing Director and CEO Colby Hauser told The Deal Room that the company’s pivotal moments are near.

“The successful placement was a great outcome for Talon and its shareholders as we seek to build on the success to date of Wayering’s onshore gas project in the Perth Basin,” he said.

“Especially with Walyering, investors are probably waiting to see what the risk report looks like in terms of an independent resource assessment, it’s very short term.

“I think then you will see a certain value attributed to Walyering. And then, obviously in Mongolia, we are only two holes out of four so there is still a long way to go.

“I think it’s kind of a risk versus timing and appetite.”

Mr Hauser said a final investment decision was expected for Walyering in the coming months.

Talon Energy has a market cap of over $60 million and shares were trading at 0.7 cents today at 1:56 p.m. AEST.

Meanwhile, Rafaella Resources (RFR) will issue $500,000 worth of shares at a price of 6 cents each and pay $100,000 in cash to secure two new battery metal targets in Quebec.

The Alotta and Lorraine projects sit alongside the company’s existing nickel, copper and platinum group element targets, Midrim and Laforce.

Chief Executive Steven Turner said the deal with Chase Mining Corporation cemented a key strategic move for the tungsten and tin developer in Europe into the battery metals space in Canada.

“We contacted and spoke to Chase, Chase changed focus and so Alotta and Lorraine were perhaps no longer essential to them, so the opportunity arose that we could get together and do a transaction,” Mr. Turner said.

“It went well and we have consolidated a very attractive package which effectively doubles our surface area, we have 157 square kilometres. We have doubled our number of targets to 70 and our high priority targets have also doubled.

“There’s platinum and palladium there, there’s copper, there’s nickel and it’s all been put together very, very, cleanly, which keeps us moving forward.

“This acquisition that we just made is a rebalancing of our portfolio with a real focus and focus on a leading mining jurisdiction in a range of commodities that are very hot right now, which are very exciting and with a government It is really encouraging.

Rafaella Resources has a market capitalization of less than $10 million and shares were trading at 4 cents at 1:57 p.m. AEST.

OzAurum (OZM) announced today that it will raise $2 million via a guaranteed stock purchase plan.

The shares will be priced at 16 cents and will help fund work on the Demag Zone gold discovery at the company’s Mulgabbie North Project.

It will be used for further drilling and exploration testing.

Managing Director and CEO Andrew Pumphrey said reverse circulation drilling work began this week.

“Recent exploration, including the discovery of virgin gold from the Demag Zone, further demonstrates Mulgabbie North’s potential to deliver a significant gold discovery located adjacent to the Northern Star Carosue Dam plant,” said Mulgabbie North. he declared.

“In addition, increased exploration efforts are planned on the high-grade Patricia gold project – working to resolve structural complexity with the goal of targeting high-grade gold mineralization at depth.”

OzAurum has a market cap of over $22 million and shares were trading down more than 5% on the news at 18.5 cents at 2:58 p.m. AEST.

Metrics Master Income Trust (MXT) is making a wholesale investor placement with $2 worth of shares and five other ASX-listed companies are halted trading, ahead of capital raising: Australian Rare Earths (AR3), Edu Holdings (EDU), Greenstone Resources (GSR), HSC Technology Group (HSC) and Navarre Minerals (NML).

Details of these increases will be communicated to the market in the coming days.

Meanwhile, in IPO news, a company with high-purity nickel projects in Finland, Nordic Nickel, will debut on the ASX tomorrow, trading as NNL. He raised $12 million with 25-cent shares.