Tartana Minerals (ASX:TAT) has announced a significant financial milestone, securing firm commitments for a $4.5 million placement aimed at accelerating its critical and strategic metals portfolio.
Led by Alpine Capital, the capital raising was priced at $0.03 per share and includes a structural incentive of one option (exercisable at $0.055) for every two shares subscribed.
The primary beneficiary of this funding is the Nightflower Silver-Lead-Zinc-Antimony project in Queensland.
Tartana is finalising an exploration program that features over 10,000m of drilling scheduled throughout the year.
The placement will be executed in two tranches: an initial issue of approximately 32.3 million shares under existing listing rules, followed by a second tranche and option issuance subject to shareholder approval.
In tandem with the capital raise, the company bolstered its leadership team with the appointment of Sonny Didugu as director, effective immediately.
Demonstrating further internal confidence, Tartana’s directors have reaffirmed their commitment to a separate $0.275 million placement from late 2025 and pledged an additional $0.255 million under the current placement terms.
At the time of reporting, Tartana Minerals' share price was $0.049.