Terrain Minerals Limited (TMX), a Perth-based mineral exploration company focused on its 100% owned assets in Western Australia and one in Queensland, has announced the successful placement of a second tranche of shortfall, raising $190,000. This follows their previous announcement on June 20, 2025, regarding a non-renounceable rights issue (Entitlement Offer). The funds were raised through the issue of 63,333,333 shortfall shares at $0.003 each, accompanied by 63,333,333 free attaching unlisted options, exercisable at $0.005 each and expiring on June 17, 2027.
The placement brings the total amount of shortfall raised to date to $340,000 at $0.003 per share, divided into two tranches of $150,000 and $190,000, respectively. The remaining shortfall under the Entitlement Offer amounts to $633,383, representing 211,127,691 shares and an equivalent number of unlisted options with the same terms. The company intends to place the remaining shortfall before September 17, 2025, prioritizing aligned and strategic participation.
In addition to the shortfall placement, Terrain Minerals provided an update on the pending drilling results from the Smokebush gold/silver project. The company is awaiting results from 19 holes, totaling 4,465 metres, from the recent RC drilling campaign, expected in September 2025. The company previously announced exciting results from a single hole which returned 22m @ 2.71 g/t gold from 105m downhole (hole SBRC074).
Terrain Minerals encourages interested parties to contact Executive Director Justin Virgin for any questions regarding the pending gold drilling results or the Entitlement Offer Shortfall. The company is listed on the Australian Securities Exchange under the code TMX, with a secondary listing on the Frankfurt Stock Exchange Open Market under the code T4Y.
