TechGen’s (TG1) $2.57m Entitlement Offer Targets Copper and Gold Growth
TechGen Metals Limited (ASX: TG1) has put a fully underwritten, pro-rata, non-renounceable entitlement offer on the table, aiming to raise up to $2.57 million. Eligible shareholders can secure nine new shares at an issue price of 1.8 cents each for every ten shares held.
On top of that, for every two new shares, shareholders will receive one free listed option. The exercise price is 3.6 cents per share with an expiry in September 2028. That is a long runway for potential upside if the company delivers on its exploration targets.
Board and management are backing this offer with their own capital. The Managing Director is committing $223,000 through sub-underwriting, with other directors also taking up their entitlements. This is not window dressing. It is money in the deal.
Where the Money Goes
Funds will be channelled into a high-impact exploration program at TechGen’s 100 per cent owned Blue Devil and Mt Boggola projects in Western Australia. This includes:
- Advancing exploration, geophysics and drilling at Blue Devil (copper, gold, silver) and Mt Boggola (copper, gold, antimony)
- RC drilling at El Donna and other TG1 assets
- Working capital, offer costs and pursuit of new growth opportunities
Managing Director Ashley Hood says this raise is the launchpad for a decisive year. The company will target large-scale EM conductors supported by high-grade surface copper, gold and silver. Heritage surveys are expected to clear the way for RC and diamond drilling in the fourth quarter.
Why This Matters Now
TechGen holds projects previously controlled by major miners but never tested with modern geophysics. Blue Devil sits in the Halls Creek Orogen mineral province, with rock chip results showing up to 50.5 per cent copper, 18.5 grams per tonne gold and 53 grams per tonne silver. Diamond drilling is on deck once heritage work is complete.
Mt Boggola, about 60 kilometres south of Paraburdoo, boasts rock chip results including 48.8 grams per tonne gold, 32.6 per cent copper and 3.92 per cent antimony. New IP chargeability anomalies have been defined in ground that once attracted Newcrest, Goldfields and Northern Star.
Both projects are positioned to benefit from a bullish outlook for copper and gold. Copper inventories are near record lows while demand from decarbonisation and infrastructure spending is climbing. Goldman Sachs has called copper “the new oil” and sees potential for prices to exceed US$15,000 per tonne. Gold remains in a strong uptrend, with central bank buying, geopolitical instability and currency weakness underpinning demand. Analysts tip gold could push towards US$3,700 per ounce by the end of 2025.
Who’s Running the Show
Ashley Hood brings more than two decades of mining and exploration experience, from native title negotiations to ASX listings. He is joined by directors and technical specialists with deep capability in geology, geophysics and corporate governance. They have each put personal capital into the business. They have skin in the game.
About TechGen Metals
TechGen Metals Limited is an Australian explorer targeting high-grade copper, gold and critical minerals in Western Australia and the Northern Territory. Its portfolio is 100 per cent owned, with flagship assets Blue Devil and Mt Boggola leading the charge. The company’s approach combines modern exploration techniques with a hands-on technical team, aiming to build shareholder value through resource growth and discovery success.
Frequently Asked Questions
1. Who can participate in the entitlement offer?
Only eligible shareholders on the record date can participate. If you hold shares as of that date, you can acquire nine new shares for every ten you own at 1.8 cents each, plus receive free listed options.
2. How will the funds be used?
Proceeds will drive drilling and exploration at the 100 per cent owned Blue Devil and Mt Boggola projects in Western Australia, along with RC drilling at El Donna, working capital, offer costs and new growth opportunities.
3. Why is now a strategic time for this raise?
Copper and gold markets are in strong uptrends, with supply constraints and rising demand from decarbonisation, infrastructure and central bank buying. This positions TechGen’s high-grade targets for maximum leverage.
4. Are the directors personally invested?
Yes. The Managing Director has committed $223,000 via sub-underwriting, with other directors also taking up their entitlements.
Cheers,
Stevo – Armchair Banker MAppFin, AdvDipFP, ADA
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