Tartana Minerals Limited (TAT), an ASX-listed copper producer with mining and exploration projects in Far North Queensland, focused on silver, copper, zinc and gold, has announced a $4.5 million placement to fund exploration activities. The placement, led by Alpine Capital, will primarily support a targeted exploration program for the company’s critical and strategic metals prospects in 2026, with a focus on the Nightflower Silver-Lead-Zinc-Antimony project in Queensland. The company anticipates drilling over 10,000 metres this year.
The placement was priced at $0.03 per share. Subject to shareholder approval, the company will also issue one option, exercisable at $0.055 and expiring three years from the issue date, for every two shares subscribed by placement participants. Alpine Capital acted as Lead Manager for the raise, with Oakley Capital as Co-Manager. The managers will receive fees totaling 7% and one option for every four shares placed. Reign Advisory will receive 4,500,000 options in the same class as the placement options for advisory services.
Proceeds from the placement will also be used for working capital and to improve production quality and throughput at the company’s Copper Sulphate plant. In addition to the funding, Tartana Minerals has appointed Sonny Didugu as a non-executive director, effective immediately. Mr. Didugu, Managing Director of Reign Advisory, brings expertise in corporate strategy, capital markets, and governance.
Directors have committed an additional $0.255 million to this placement, supplementing the $0.275 million already committed in December 2025. The directors will receive options on the same terms as the new placement. The company will shortly convene a shareholder meeting to seek approval for the issue of these options and other matters related to the placement.
