InvestSMART

Taiton Resources Limited (ASX:T88)

ALERT: Price-sensitive ASX Announcement for T88
Current share price for T88 : $0.037 -0.033 (-47.14%)+
Announcement
Release
2 Oct 2025 9:05AM
Price at Release
$0.070
Full Release
download
Summary
Taiton Resources Limited announced a successful capital raising of $2 million through a placement of new shares, aimed at funding drilling programs for the Challenger West and Highway projects. The placement will be conducted in two tranches, with 33,408,000 new shares issued at $0.06 per share, including options for every three shares subscribed. A shareholder's loan conversion and an employee securities incentive plan are also part of the corporate update. The funds will support exploration and working capital needs. The company is gearing up for drilling activities before summer, with plans to test gold and gravity anomalies at their project sites.
Key Points
  • Placement of new ordinary shares to raise $2 million.
  • Funds to be used for drilling programs at Challenger West and Highway projects.
  • Conversion of shareholder’s loan to shares.
  • Options under Taiton Employee Securities Incentive Plan.
  • Placement involves issuance of 33,408,000 new shares at $0.06 per share.
  • Placement to be conducted in two tranches.
  • Shareholder meeting for approval of Tranche 2 shares is scheduled.
  • Funds directed towards exploration programs and working capital.
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.