TG Metals Limited (TG6) has secured firm commitments to raise A$2.5 million via a share placement, issuing 15.625 million new shares at $0.16 each. The capital raise is set to settle on 7 August 2026, with director participation subject to shareholder approval at a meeting expected in late September.

The funding is earmarked for three primary operational objectives. At the Van Uden gold project, the company plans to conduct drilling to expand its Mineral Resource, with a specific focus on laterite gold targets. These results will support an upcoming scoping study for a potential on-site heap leach operation. Concurrently, the proceeds will be used to advance direct shipping ore (DSO) opportunities at the Lake Johnston lithium project to establish a low-capital path to commercialisation.

"We are pleased with the strong support received for this placement, which reflects growing investor confidence in TG Metals strategy and the development potential of both Van Uden Gold Project and Lake Johnston Lithium project."

— Richard Bevan, Chairperson

The company confirmed that the placement was supported by institutional and sophisticated investors, with management and directors also participating. The remaining funds will provide working capital as the developer moves toward these development milestones. The issuance of 3 million broker options is also subject to shareholder approval at the upcoming September meeting.

Read the full announcement: $2.5M Raised to Advance Gold and Lithium Strategies