Tambourah Metals Ltd (ASX: TMB) has announced the successful completion of its oversubscribed 1-for-8 pro-rata non-renounceable entitlement offer to eligible shareholders. Tambourah Metals is a West Australian exploration company established in 2020 to develop gold and critical mineral projects. The offer, priced at A$0.02 per share, closed on Monday, 7 July 2025, and was outlined in the Prospectus dated 3 June 2025.
The Entitlement Offer saw strong demand, with applications for 20,867,465 new shares received from eligible shareholders, representing approximately 113% of the total shares offered. This oversubscription resulted in a scale back of 2,481,467 shares. After the scale back, the company will issue 18,385,998 shares, raising a total of $367,720 in new equity.
As part of the offer, shareholders who applied for new shares will receive one free attaching option for every two new shares applied for. These options are exercisable at $0.04 and expire on 14 July 2027. Allotment of the new shares and options will take place today, bringing the total number of ordinary shares on issue to 165,476,044.
The funds raised from the Entitlement Offer will be allocated to drilling programs at the Tambourah Gold Project and Beatty Park Gold Project, progressing drill target generation at Speewah Nth, exploration activities across the company’s other exploration projects, and for general working capital purposes, according to the company announcement.
