Thomson Resources (ASX: $TMZ) June 2024 Quarter Update

Thomson Resources (ASX: $TMZ) has released its quarterly activities report for the period ended 30 June 2024. The company continued planning resource definition and expansion drilling at its 100% owned Webbs and Conrad Silver Projects in the New England Fold Belt. In the Lachlan Fold Belt, the company focused on exploration program planning, with the Harry Smith gold prospect being a high priority. Additionally, Thomson Resources resolved outstanding issues with the Texas project, lodged renewal applications for two exploration licenses, and entered into an option to sell one of its licenses. The company is currently running a strategic review of all current projects, assessing new projects, and planning a capital raising to enable active exploration activity and trading on the ASX. Thomson Resources is in advanced discussions with multiple parties regarding the capital raise, which will be announced in the short term.

Executive Commentary

The Company's focus during the quarter was on resolving outstanding issues with the Texas project and renewing exploration licenses. We are pleased to have entered into an option to sell one of our licenses, which aligns with our strategic review of all current projects. The capital raising we are planning will enable us to recommence active exploration activity and trading on the ASX. We are in advanced discussions with multiple parties regarding the capital raise, and we are confident that it will be successful.

Summary

Thomson Resources (ASX: $TMZ) continued its exploration and planning activities during the June 2024 quarter, with a focus on resolving outstanding issues, renewing exploration licenses, and conducting a strategic review for a capital raising. The company's cash position at the end of the quarter was $4k, and it is in advanced discussions with multiple parties regarding the capital raise, which will enable it to recommence active exploration activity and trading on the ASX. Thomson Resources aims to create value for shareholders through reviewing business opportunities in the technology, base, and precious metals spaces.