{australien_flagge}Australian explorer Tennant Minerals (WKN A3ET0R / ASX TMS) has been consistently drilling remarkably high gold and copper grades at its Bluebird discovery, which is part of the larger Barkly project. (We reported.) However, the company is not only continuing to explore Bluebird, but also wants to pursue the thesis that there could be multiple deposits like Bluebird at Barkly. That’s why it has now raised A$5 million – from institutional and sophisticated investors – which should allow a more aggressive approach going foward. The interest among investors was tremendous, apparently!
{australien_flagge}Australian explorer Tennant Minerals (WKN A3ET0R / ASX TMS) has been consistently drilling remarkably high gold and copper grades at its Bluebird discovery, which is part of the larger Barkly project. (We reported.) However, the company is not only continuing to explore Bluebird, but also wants to pursue the thesis that there could be multiple deposits like Bluebird at Barkly. That’s why it has now raised A$5 million – from institutional and sophisticated investors – which should allow a more aggressive approach going foward. The interest among investors was tremendous, apparently!
Or as Tennant Minerals put it, the financing was “heavily oversubscribed.” In any case, the company now has sufficient funds to pursue several objectives at once. Drilling is planned to extend the Bluebird discovery to the east and west, and to test the extent of mineralization to depths greater than 400 meters. The goal is to prove a high-grade copper and gold resource of several million tons here alone.
The company also plans to explore additional targets in the 2.5-kilometer Bluebird-Perseverance corridor generated by induced polarization (IP) programs and deeper drilling. In this way, Tennant intends to make additional high-grade copper and gold discoveries. To classify the term high-grade: Most recently, Bluebird had drilled 30.5m at 6.2% copper and 6.8 g/t gold, including 17.8m at 11.5 g/t gold and 16.1m drilled at 10.5% copper…
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Overall, Tennant intends to prove multiple, copper and gold deposits with a volume of numerous million tons of ore with these now financed programs within the Barkly project. This is also seen as an opportunity to establish a stand-alone gold mining and processing project in the future.
Lage des Projekts Barkly Babbler mit Bluebird: Quelle: Tennant Minerals
Conclusion: We consider it a very good sign that investor interest in this financing round was so high. As we have been hearing, not all investors were able to get all the Tennant shares they wanted… We hope and assume that Tennant Minerals will strike out more aggressively with its freshly filled till and thus an even stronger news flow can be expected in the future. We are excited to see what this very promising – if still risky – explorer can achieve in 2023!
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