Tartana Minerals Ltd (ASX:TAT) has entered into an agreement with Xingye Gold (Hong Kong) Mining Company Ltd for a A$5.18 million cornerstone investment aimed at accelerating exploration across its Queensland critical and strategic metals portfolio.
Xingye will subscribe for new Tartana shares at A$0.053 each, representing a 165% premium to the company’s last traded price of A$0.02 and a 112% premium to its 15-day volume-weighted average price.
The two-tranche placement would give Xingye a 19.99% interest in Tartana, making the international mining group the company’s largest shareholder and a long-term strategic partner.
Investment to accelerate exploration
The first tranche will raise approximately A$2.30 million through the issue of 43.46 million shares, taking Xingye’s voting interest to about 9.99%.
A second tranche of approximately 54.33 million shares will raise a further A$2.88 million and lift Xingye’s holding to 19.99%.
Completion remains subject to satisfactory due diligence, Chinese regulatory approvals, Foreign Investment Review Board approval for the second tranche and other customary conditions. All conditions must be satisfied by November 16, 2026.
Tartana executive chair Sonny Didugu said the investment represented a strong endorsement of the company’s exploration portfolio and would provide both capital and technical capability to accelerate its development strategy.
Funding focused on silver, tin and base metals projects
The money raised will be directed predominantly toward exploration at the Nightflower and Montalbion silver projects and the Tartana mining leases, which are prospective for copper and zinc.
The company also plans to assess broader tin exploration opportunities in the Montalbion district, including Victoria Amalgamated, Daisy Bell, De Wett, Comeno and Lady Agnes.
Funds will not be allocated to Tartana’s copper sulphate production activities.
Xingye may provide geologists at its own cost to support exploration strategy, geological modelling, drill planning and field execution. Following completion of the first tranche and receipt of FIRB approval, the investor may also nominate up to two directors to Tartana’s board.
About Tartana Minerals
Tartana Minerals is an Australian explorer and project developer focused on critical and strategic metals in the Chillagoe region of Far North Queensland.
Its portfolio includes mining leases and exploration tenements prospective for copper, gold, silver, antimony, zinc and tin, alongside an existing copper sulphate operation.
Xingye’s parent company, Inner Mongolia Xingye Silver & Tin Mining Company Ltd, is a Shenzhen-listed mining group with mineral exploration and development operations spanning silver, tin, lead, zinc, copper, tungsten and antimony.