TechGen Metals raises A$915,994 in oversubscribed placement

TechGen Metals Limited (ASX:TG1) has successfully secured binding commitments for a A$915,994 Placement, receiving strong support from institutional and sophisticated investors, as well as key industry representatives. The funds raised will primarily be used to accelerate ongoing exploration activities at the highly promising Ashburton projects, Station Creek and Mt Boggola, both of which have recorded numerous elevated antimony occurrences associated with copper, gold, and silver. Additionally, the latest airborne geophysics technology in Australia is set to be deployed at the Kimberley projects in WA, presenting a rare first mover advantage in a region rich in base metals and gold.

TechGen's Managing Director, Ashley Hood, comments on the successful placement

On behalf of the Company, I would like to express our profound gratitude to all our investors, both existing and new, who contributed to this successful placement. This raise will not only strengthen the Company's balance sheet but also position us for future growth. We sincerely appreciate the ongoing collaboration of Cumulus Wealth Management and Viriathus Capital, and we greatly value their continuous support. The return of our dedicated shareholders, along with the addition of new prominent industry supporters including Tony Rovira, recently retired Managing Director of Azure Minerals Ltd, signifies a strong confidence in our management team to leverage and realise the potential of our significant assets, thereby enhancing shareholder value. Your consistent support is immensely appreciated, and we look forward to delivering further discoveries for the benefit of all our stakeholders.

Summary of TechGen Metals' oversubscribed placement and future plans

TechGen Metals (ASX:TG1) has successfully raised A$915,994 through an oversubscribed Placement, reflecting strong support from institutional and sophisticated investors, as well as key industry representatives. The funds will be primarily allocated to accelerate exploration activities at the Ashburton projects, Station Creek and Mt Boggola, which have shown promising antimony occurrences associated with copper, gold, and silver. Additionally, the deployment of the latest airborne geophysics technology at the Kimberley projects in WA presents a rare first mover advantage in a region rich in base metals and gold. The Company's Managing Director, Ashley Hood, expressed gratitude to both existing and new investors, highlighting the strengthened balance sheet and future growth prospects. The raised capital will be instrumental in driving forward the Company's exploration and drilling activities across multiple projects, aiming to deliver economic discoveries and enhance shareholder value. The Placement also includes free attaching unlisted options exercisable at 4.5c, expiring three years from the date of issue, reflecting the investors' confidence in TechGen's trajectory towards its highly anticipated exploration efforts.