TechGen Raises AU$1.2 Million to Advance Copper and Gold Exploration

Highlights:

• TechGen Metals Limited (ASX: TG1) raises AU$1.2 million via top-up placement to fast-track exploration.
• Funds to advance drilling and surveys at Mt Boggola (Cu-Au-Sb) and Blue Devil (Cu-Au-Ag) projects in WA.
• Strong backing from institutional investors and MD Ashley Hood underscores confidence in TG1’s discovery potential.

Strong Investor Backing for Placement

TechGen Metals Limited (ASX: TG1) has successfully raised AU$1.2 million through a top-up placement, following the company’s heavily oversubscribed rights issue earlier in the week. At the time of writing, the placement has drawn strong demand from institutional and sophisticated investors, along with support from Managing Director Ashley Hood, who committed $100,000 subject to shareholder approval.

Use of Funds

The additional capital will be directed towards advancing exploration at two key Western Australian projects: the Mt Boggola Copper-Gold-Antimony Project in the Ashburton region and the Blue Devil Copper-Gold-Silver Project in the Kimberley. Both projects have reported encouraging copper occurrences with associated gold and silver, strengthening the case for large-scale mineralisation. Planned programs include ground geophysics, heritage surveys, and drilling campaigns set to begin in late 2025.

Placement Structure

The placement consists of 66.7 million shares at an issue price of $0.018 each, accompanied by one free listed option (TG1OA) for every two shares subscribed. The raise will be completed in two tranches: Tranche 1 under ASX Listing Rule 7.1 for approximately $428,000, and Tranche 2, subject to shareholder approval at the upcoming AGM, for the remaining $772,000.

Strategic Outlook

Cumulus Wealth Pty Ltd and Anadara Asset Management Pty Ltd acted as Joint Lead Managers, receiving standard management and placement fees. The strong backing for both the rights issue and placement highlights investor confidence in TechGen’s near-term exploration strategy.

According to the company, the new funding extends its financial runway and provides the flexibility to pursue high-impact discoveries. With drilling approvals underway, TechGen is well positioned to capitalise on its exploration portfolio and unlock potential value in Western Australia’s resource-rich regions.

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