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Tempest Minerals Limited (ASX:TEM)

ALERT: Price-sensitive ASX Announcement for TEM
Current share price for TEM : $0.005 0.001 (12.50%)+
Announcement
Release
30 Jul 2026 2:44PM
Price at Release
$0.004
Full Release
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Summary
Tempest Minerals Limited reported no substantive exploration activities in the Five Wheels and Range projects for the quarter ending June 2026. The company terminated its involvement in the Elephant Project Joint Venture and a project in New Zealand after due diligence. Tempest's investment activities included the sale of their Yalgoo Project to Capricorn Metals for a total of $4.5 million, comprising both cash and shares. They also sold some shares in Capricorn Metals, maintaining a significant shareholding. Tempest retains an interest in Argosy Minerals' lithium project in Nevada. The company estimates it has sufficient funding for approximately 3.41 quarters based on current cash flow, with upcoming plans to explore data from the Range Project and assess iron potential at the Halo Target in the Yalgoo region.
Key Points
  • No exploration work was undertaken in the Five Wheels Project and the Range Project this quarter.
  • Tempest withdrew from the Elephant Project Joint Venture.
  • The binding agreement for a project in New Zealand was terminated after due diligence.
  • Tempest's investment portfolio includes a sale of the Yalgoo Project to Capricorn Metals for $4.5 million.
  • Tempest sold shares in Capricorn Metals for $699,005 and holds remaining shares valued at over $3 million.
  • Tempest retains an interest in Argosy Minerals' Tonopah Lithium Project in Nevada.
  • Estimated funding available is 3.41 quarters based on cash flow analysis.
  • Exploration activities planned for September 2026 quarter include data review at the Range Project and Iron potential assessment at Halo Target in Yalgoo.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.