REG - Tertiary Minerals - Placing to raise £100,000

Tertiary MineralsAnnouncement

20/10/2025 07:00

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RNS Number : 9989D  Tertiary Minerals PLC  20 October 2025

 

 

20 October 2025

Tertiary Minerals plc

 ("Tertiary" or the "Company")

 

Placing to raise £100,000

 

Tertiary Minerals plc (AIM: TYM), the explorer focussed on energy transition
and precious metals in Zambia and Nevada, is pleased to announce it has
raised, via its joint broker Peterhouse Capital limited, £100,000 before
expenses through a placing (the "Placing") of 153,846,154 new ordinary shares
of 0.01 pence each in the Company (the "New Shares") at a price of 0.065 pence
per share (the "Placing Price") as detailed below. The Placing was made
exclusively with Mr. Stuart Packwood, a significant shareholder, and will be
used to support upcoming exploration on the Company's silver-copper-zinc
prospect, Target A1, on the Mushima North Project, Zambia.

 

Richard Belcher, Managing Director of Tertiary Minerals plc, commented:

"We are delighted that Mr Packwood, a significant shareholder, has increased
his shareholding in the Company and at the current market price. This is a
great endorsement for Tertiary and its portfolio of highly prospective
projects. The funds raised will be used to support further drilling at our
recent silver-copper-zinc discovery, Target A1, at the Mushima North Project.

"This small capital raise will allow us to continue advancing our
silver-copper-zinc discovery at the Mushima North Project. We plan to
aggressively advance Target A1 and this includes additional drilling before
the upcoming rainy season in Zambia. The planned drill programme will provide
additional drill data to support our current goals at Target A1, which
includes expanding the known mineralisation footprint, both along strike and
at depth; particularly in the north where higher-grade copper was intercepted
towards the end of our last drill programme over the summer (e.g. 9m at 124
g/t silver and 0.73% copper), and to work towards an initial mineral resource
estimate.

"I would like to take the opportunity to thank our shareholders for their
continued support and I look forward to providing updates, not only on the
planned drill programme, but also across our exciting project portfolio over
the upcoming months."

 

Placing Details

The Placing comprises a placing of 153,846,154 New Shares at the Placing Price
of 0.065p. The Placing Price is equal to the bid price of ordinary shares at
market close on 17 October 2025 and the New Shares represent approximately
3.01% of the Company's issued ordinary share capital as enlarged by the
Placing.

On Admission of the New Shares, Mr Packwood will hold 465,901,785 ordinary
shares representing 9.11% of the then enlarged share capital.

The New Shares are being issued under the Company's existing share issue
authorities.

Under the terms of its engagement, Peterhouse Capital Limited will be issued
with 7,692,308 warrants, with each warrant entitling the holder to subscribe
for one new ordinary share at the Placing Price at any time within 12 months.

 

Admission

 

The New Shares will rank pari passu with the Company's existing ordinary
shares.  An application has been made to the London Stock Exchange for
admission of the New Shares to trading on AIM ("Admission"). Admission is
expected to occur at 8.00 a.m. on or around Friday 24 October 2025.

 

Use of Proceeds

The net funds raised will be applied to drilling at the Company's flagship
silver-copper-zinc project, Target A1, on the Mushima North Project and for
working capital.

The Company aims to fast-track Target A1 along the exploration evaluation
pipeline. The Company is currently planning a minimum 1,000m Reverse
Circulation drill programme at Target A1. The aims of this drilling include
to:

·    Test for lateral extensions of the known mineralisation, particularly
around the high-grade silver and copper mineralisation in the north.

·    Test for continuation of mineralisation at depth; previously, drill
hole depth averaged only 70m vertically.

·    Establish the continuity of mineralisation between the wider-spaced
drill lines, by obtaining additional mineralisation intercepts.

 

In addition, the Company is also undertaking initial mineralogical work to
understand the character and styles of mineralisation as a prelude to
metallurgical studies. Historically, gold is associated with other deposits
and occurrences with the region, and as such gold analysis is also being
undertaken on selected mineralised intersections to ascertain whether gold
mineralisation is associated with any of the mineralisation styles interested
so far. The Company is also in discussions with external, independent
consultants to determine whether or not there is currently enough drilling
data to support the reporting of an Exploration Target (following the
guidelines of The JORC Code) so as to provide an estimated range of in-situ
tonnes and grade.

The over-arching objective is to define a much larger mineralisation footprint
and have enough data to support a maiden Mineral Resource Estimate, if future
drilling results warrant such an approach, within the next twelve months.

 

Total Voting Rights

Following Admission of the New Shares, the Company's enlarged issued share
capital will be 5,116,855,727 ordinary shares.

 

The Company holds no ordinary shares in treasury. The total number of voting
rights in the Company is therefore 5,116,855,727 and this figure may be used
by shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

 

Further Information:

 Tertiary Minerals plc:
 Richard Belcher, Managing Director  +44 (0) 1625 838 679
 SP Angel Corporate Finance LLP

 Nominated Adviser and Broker
 Richard Morrison/Jen Clarke         +44 (0) 203 470 0470
 Peterhouse Capital Limited

 Joint Broker
 Lucy Williams/Duncan Vasey          +44 (0) 207 469 0930

 

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

Cautionary Note Regarding Forward-Looking Statements

The news release may contain certain statements and expressions of belief,
expectation or opinion which are forward looking statements, and which relate,
inter alia, to the Company's proposed strategy, plans and objectives or to the
expectations or intentions of the Company's directors. Such forward-looking
statements involve known and unknown risks, uncertainties, and other important
factors beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially different from
such forward-looking statements. Accordingly, you should not rely on any
forward-looking statements and, save as required by the AIM Rules for
Companies or by law, the Company does not accept any obligation to disseminate
any updates or revisions to such forward-looking statements.

 

Competent Persons Statement

The technical information in this release has been compiled and reviewed by
Dr. Richard Belcher (CGeol, EurGeol) who is a qualified person for the
purposes of the AIM Note for Mining and Oil & Gas Companies. Dr. Belcher
is a chartered fellow of the Geological Society of London and holds the
European Geologist title with the European Federation of Geologists.

About Tertiary Minerals plc

Tertiary Minerals plc (AIM: TYM) is an AIM-traded mineral exploration and
development company whose strategic focus is on energy transition metals. The
Company's projects are all located in stable and democratic, geologically
prospective, mining-friendly jurisdictions. Tertiary's current principal
activities are the discovery and development of copper and precious metal
mineral resources in Nevada and in Zambia.

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