Highlights

  • Temas Resources shares rose 4.17% to AUD 0.12 on 24 April 2026 following a funding update.
  • The Company closed a private placement raising approximately CAD 1.5 million.
  • 8,333,334 flow-through shares were issued at CAD 0.18 per share.
  • A single institutional investor, Maple Leaf Critical Minerals Fund, participated in the placement.
  • Proceeds will fund exploration across La Blache and Lac Brule projects in Québec.
  • The investor will hold approximately 9.9% equity stake post-placement.

Temas Resources Corp (ASX:TIO) shares advanced 4.17% to AUD 0.12 on 24 April 2026, following the announcement of a completed private placement aimed at supporting exploration and development activities. While the stock recorded gains during the session, it remains down 51.92% over the past year, reflecting broader pressure despite ongoing funding and development initiatives.

Temas Resources is a technology-focused critical minerals company that combines proprietary processing innovation with mineral asset ownership. The Company is advancing its Regenerative Chloride Leaching (RCL) technology alongside development of its Québec-based projects, positioning itself within the broader critical minerals supply chain.

Private Placement Completed at Premium to Market Price

The Company confirmed that it has completed a non-brokered private placement, raising gross proceeds of approximately CAD 1.5 million. The financing was executed at a price above the prevailing market level, indicating pricing set at a premium to the Company’s common shares at the time.

The placement involved the issuance of 8,333,334 flow-through shares at a price of CAD 0.18 per share. These shares were subscribed by a single investor, Maple Leaf Critical Minerals 2026 Enhanced Fund, which is an existing shareholder of the Company.

Following completion of the transaction, the Maple Leaf Group of Critical Minerals Funds is expected to hold approximately 9.9% of Temas Resources’ issued equity, reflecting continued institutional participation.

Use of Funds Focused on Exploration Activities

The Company outlined that proceeds from the placement will be directed towards eligible Canadian exploration expenditures. These expenditures are intended to qualify as flow-through critical mineral mining expenses under applicable Canadian tax regulations.

Funds will primarily support exploration programs at the Company’s La Blache and Lac Brule titanium projects located in Québec, Canada. This includes ongoing work related to critical mineral and rare earth element assaying and re-assaying activities at La Blache.

The Company expects to incur these qualifying expenditures by 31 December 2027, with the associated tax benefits to be renounced in favour of subscribers effective 31 December 2026.

The issued shares are subject to a statutory holding period of four months and one day from the date of issuance, in accordance with Canadian securities regulations. No finder’s fees were paid in connection with the transaction.

Management Commentary Highlights Strategic Focus

Temas Resources’ Chief Executive Officer, Tim Fernback, noted that the participation of an existing institutional investor reflects ongoing support for the Company’s strategic direction.

Management indicated that the funding is expected to support continued evaluation of gallium and scandium potential at the La Blache project. At the same time, a significant portion of resources is intended to be directed toward business development initiatives and the advancement of the Company’s RCL metallurgical platform.

The Company’s approach combines mineral exploration with the commercialisation of its proprietary processing technology, aiming to create integrated value across both segments.

Technology Platform Remains Central to Strategy

Temas continues to advance its Regenerative Chloride Leaching (RCL) technology, which forms the core of its processing and licensing strategy. The platform is designed to process a range of materials, including ores, concentrates, slags, and tailings, with the objective of improving recovery rates and reducing costs.

According to the Company, the RCL platform has demonstrated the ability to deliver significant cost efficiencies compared to conventional processing methods. Reported data indicates potential cost reductions of over 65% for titanium dioxide processing, supported by factors such as reagent recycling, lower energy requirements, and optimised recovery.

The technology also incorporates a closed-loop design intended to minimise environmental impact while improving operational efficiency. The Company highlighted that the platform is capable of handling complex ores and may be applicable across multiple critical minerals, including titanium, nickel, vanadium, and rare earth elements.

Pilot Testing and Product Output

Temas reported that pilot-scale testing has been completed using approximately one tonne of material sourced from its La Blache titanium project. This testing yielded 88 kilograms of titanium dioxide product with a reported purity of 99.8%.

These results form part of the Company’s broader efforts to validate the commercial applicability of its processing technology and support future development initiatives.

Integrated Project and Technology Model

In addition to its technology platform, Temas owns 100% of two advanced titanium-vanadium-iron projects in Québec — La Blache and Lac Brule. These projects are intended to provide feedstock for the Company’s processing operations, creating a vertically integrated model.

The integration of mineral assets with proprietary processing technology is designed to support a mine-to-market approach, allowing the Company to align resource development with downstream processing capabilities.

This dual-business model combines intellectual property licensing opportunities with direct exposure to mineral resources, forming the basis of the Company’s long-term operational framework.

Regulatory and Resource Disclosure Context

The Company noted that resource estimates associated with the La Blache project are classified as foreign estimates under ASX Listing Rules and are not reported in accordance with the JORC Code (2012).

It also stated that no new information has emerged that materially impacts previously disclosed project details, and that underlying assumptions and technical parameters remain unchanged.

However, it remains uncertain whether these foreign estimates will be converted into JORC-compliant mineral resources following further evaluation and exploration work.

What This Means for Investors?

Temas Resources’ latest update reflects a funding milestone that supports ongoing exploration and development activities, particularly across its Québec-based projects.

The completion of the private placement, priced at a premium to market, appears to have contributed to the share price movement during the session. At the same time, the Company continues to operate within a broader context of share price decline over the past year.

With proceeds allocated toward exploration and ongoing development of its processing technology, investors are likely to monitor how effectively the Company progresses both its project portfolio and technology commercialisation efforts in the coming periods.