Business · Companies · 3 hrs ago
Talonx raises $775,000 for Botswana copper and Western Australian gold work
Talonx Resources secured commitments to raise $775,000 through a share placement to fund exploration at two projects.
Its largest shareholders, Metal Hawk and Falcon Metals, and company directors backed the fundraising.
In Botswana, the money will support work at the 1,000-square-kilometre Kihabe copper project, where the company has identified several targets.
Soil sampling is complete, but results are pending; planned work includes surveys, geophysics and initial drilling.
In Western Australia, Talonx will fund more drilling at the Beaker 2 gold discovery, where a shallow gold zone has been found and remains open.
The placement will be completed in two parts, with the director commitments subject to shareholder approval at a meeting expected in December; Talonx also plans to offer eligible shareholders a share purchase plan.
Talonx Resources has secured firm commitments to raise $775,000 for copper exploration in Botswana and gold drilling in Western Australia.
The funds will support work at the Kihabe copper project and further drilling at the Beaker 2 gold discovery at Viking.
The placement is backed by the company’s largest shareholders, Metal Hawk and Falcon Metals, as well as Talonx directors.
It will issue 155 million new shares at 0.5 cents each in two tranches.
Talonx also plans to offer eligible shareholders a share purchase plan at the same price.
- Who
- Talonx Resources, with commitments from its largest shareholders Metal Hawk and Falcon Metals and from company directors.
- What
- It secured commitments for a $775,000 share placement to fund copper exploration at Kihabe and further gold drilling at Viking.
- When
- The announcement was published on October 30, 2026. The first tranche was expected to settle around November 4.
- Where
- The Kihabe project is in northwestern Botswana; the Viking gold project is in Western Australia, around 30km southeast of Norseman.
- Why
- To advance copper exploration at Kihabe and continue drilling at Viking’s Beaker 2 gold discovery.
This story does not have two clearly opposing sides.
Talonx’s closing share price was 0.7 cents.
Stockhead reported that Talonx had secured firm commitments for the placement.
The first tranche, raising $665,000, was expected to settle.
A general meeting was expected to consider shareholder approval for $110,000 in director commitments.
- Placement total
- $775,000
- New shares
- 155 million at 0.5 cents each
- First tranche
- $665,000, expected to settle around November 4
- Kihabe project
- 1,000km² in northwestern Botswana
- Beaker 2 drilling result
- 4m at 22.1g/t gold
What people are saying
We are very pleased with the strong support from our largest shareholders, Metal Hawk and Falcon Metals, and from the Talonx Board
This funding allows us to significantly ramp up exploration at Kihabe, where we see district-scale copper discovery potential, while continuing to advance the high-grade Beaker 2 gold discovery at Viking towards a maiden Mineral Resource