{"id":141161,"title":"Tertiary Minerals Raises £1m as AIM Trading Resumes","publisher":"Share Talk","author":"sharetalk","published":"2026-09-30T07:32:59+00:00","modified":"2026-09-30T07:32:59+00:00","canonical_url":"https://www.share-talk.com/tertiary-minerals-raises-1m-as-aim-trading-resumes/","markdown_url":"https://www.share-talk.com/tertiary-minerals-raises-1m-as-aim-trading-resumes.md","json_url":"https://www.share-talk.com/tertiary-minerals-raises-1m-as-aim-trading-resumes.json","category":"Mining","categories":["Mining"],"tags":["COPPER","Exploration","Gold Project","Jacks","mineral","Mushima North Project","Nevada","Project","Richard Belcher","Share Talk","Tertiary Minerals","TYM","USA","Zambia"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/09/8124ca95-a9d4-496b-9cf5-e9798ea5ee0b.png?fit=1727%2C911&ssl=1","format":"news","language":"en-GB","content":"[Tertiary Minerals plc (AIM: TYM)](https://www.investegate.co.uk/announcement/rns/tertiary-minerals--tym/placing-and-restoration-of-trading-on-aim/9797693) has conditionally raised £1 million before expenses through a placing of 1.67 billion new shares with institutional investors and high-net-worth individuals.\n\nThe shares have been placed at **0.06p each**, representing a **14% discount to the five-day average VWAP on 21 September 2026**, when the company’s shares entered a Capital Access Window.\n\nThe Capital Access Window has now closed, with **normal trading in Tertiary’s existing AIM shares resuming at 7.30am on 30 September 2026**.\n\nThe placing itself remains conditional on shareholders approving the necessary share authorities.\n\n**Expected dates:** the company currently expects to hold its general meeting **on or around 27 October 2026**, with admission of the placing shares to AIM expected **on or around 28 October 2026**, subject to shareholder approval. These dates are indicative rather than confirmed completion dates.\n\nFollowing admission, Tertiary would have **8.82 billion shares in issue**, with the placing shares representing approximately **19% of the enlarged share capital**.\n\nNet proceeds will principally support further work at **Target A1 within the Mushima North silver-copper project in Zambia**.\n\nPlanned expenditure includes deeper drilling to test mineralisation beneath the oxide zone, laboratory analysis for critical minerals, expanded metallurgical testwork and environmental and community surveys to support an Environmental Impact Assessment.\n\nManaging director **Richard Belcher** said the company intends to build on progress at Target A1 by testing the depth extent beneath the higher-grade core and completing further assay and metallurgical work.\n\nJoint broker **SP Angel** will also receive **83,333,333 warrants**, exercisable at the 0.06p placing price for 12 months from admission. Full exercise would raise a further approximately **£50,000** before expenses and create additional dilution.\n\nFor investors, the immediate confirmed development is the **£1 million conditional placing and restoration of normal AIM trading**. The next milestones — shareholder approval and admission of the new shares — remain expected rather than completed, while the longer-term test is whether the new capital produces meaningful progress at Mushima North."}