Highlights

  • Tartana Minerals shares rose 17.07% on 10 February 2026, followed by the company’s capital raising update
  • The company secured AUD 4.5 million via a placement to fund exploration during 2026.
  • A targeted drilling programme of over 10,000 metres is being finalised for key projects.
  • The company appointed Sonny Didugu as a non-executive director, with effect from 10 February 2026.
  • Directors committed an additional AUD 0.255 million under the current placement.

Tartana Minerals Ltd (ASX:TAT) shares jumped by 17.07% to AUD 0.048 on 10 February 2026, the share price has also surged by 60% over the past six months. Today’s move followed the company’s announcement of a capital raising and updates to its exploration plans and board composition, which outlined funding arrangements for its 2026 work programme.

The company reported that it has received firm commitments for a AUD 4.5 million placement, led by Alpine Capital. The placement was priced at AUD 0.03 per share and is subject to shareholder approval. Under the offer, participants will receive one option for every two shares subscribed, with each option exercisable at AUD 0.055 and expiring three years from the issue date.

The placement will be completed in two tranches. The first tranche involves the issue of 32,346,915 shares under ASX Listing Rule 7.1, raising AUD 970,407, with settlement scheduled for 18 February 2026. The second tranche and all options remain subject to shareholder approval. The placement price represented a 27% discount to the last closing price prior to the trading halt.

Funding set to support expanded exploration activity

Funds raised from the placement are primarily earmarked for exploration across the company’s portfolio of critical and strategic metals projects during 2026. The main focus is the Nightflower Silver-Lead-Zinc-Antimony project in Queensland, where a detailed exploration programme is being finalised.

The company indicated that the current plan includes more than 10,000 metres of drilling over the year. In addition to exploration expenditure, funds will be allocated to working capital and process improvements at the company’s Copper Sulphate plant, aimed at enhancing production quality and throughput. Ongoing cash inflows from Copper Sulphate production are expected to supplement exploration funding. 

Board changes and director participation outlined

Tartana Minerals also announced the appointment of Sonny Didugu as a non-executive director, effective immediately. The appointment is intended to support the company’s governance and strategic objectives during the coming months.

Separately, the company confirmed that directors have committed AUD 0.255 million under the current placement. This is in addition to the AUD 0.275 million director commitment associated with the December 2025 placement at AUD 0.05 per share, which remains subject to shareholder approval. The terms of the December 2025 placement have been updated so that participants, including directors, will receive options on the same terms as the current placement.

Investor Takeaway

Looking ahead, Tartana Minerals is directing its attention to advancing exploration across its silver and critical metals portfolio during 2026. The company’s planned activities are supported by funds raised through the recent placement, supplemented by ongoing Copper Sulphate revenues, and the finalisation of a drilling programme expected to exceed 10,000 metres. Together, these elements frame the company’s near-term operational focus as it moves into the next phase of exploration activity.

Frequently Asked Questions (FAQs)

Why did Tartana Minerals shares rise on 10 February 2026?

The shares moved higher after the company announced a AUD 4.5 million placement to fund exploration activities and disclosed updates to its board and funding plans.

How will the funds from the placement be used?

The funds are primarily allocated to exploration across Tartana’s silver and critical metals projects in 2026, with a focus on the Nightflower Silver-Lead-Zinc-Antimony project, along with working capital and process improvements.

What board changes were announced?

Tartana Minerals appointed Sonny Didugu as a non-executive director, and directors confirmed participation in both the current placement and the previously announced December 2025 placement, subject to shareholder approval.