Gold and copper explorer Torrens Mining Limited (ASX: TRN) has provided its quarterly activities report for the period ended 31 December 2020, and an overview of the material announcements made post-listing and subsequent to the end of the reporting period.
Torrens debuted on the ASX after completing $10m IPO.
Prospective stratigraphy and gold-bearing structures confirmed in Mt Piper Project area.
Torrens free carried for further $2 million at Elizabeth Creek Copper Project after farminee earns 70% interest by $6.62M expenditure.
Drilling program continues at Elizabeth Creek.
Patrick Say appointed as Exploration Manager.
New Tenement Applications in Victoria and PNG.
Laloki Exploration Licence Application (ELA2557) refused by PNG Minister for Mines.
Torrens lists on the ASX with strong investor support
On 7 January 2021, Torrens commenced trading on the ASX after closing its Initial Public Offer to raise $10 million before costs. Torrens’ IPO closed over-subscribed on 4 December 2020.
Taylor Collison acted as lead manager of the IPO.
The Company issued 50 million shares at 20 cents each, with the proceeds to be used to advance its mineral exploration initiatives in Victoria, South Australia and Papua New Guinea (PNG).
Torrens’ asset portfolio includes the Mt Piper Gold Project in Central Victoria, located just 30km south-east of the Fosterville Gold mine (the world’s most profitable underground gold mine), the Club Terrace Gold Project in Eastern Victoria, the Elizabeth Creek Copper-Cobalt Project in South Australia, which is subject to a farm-in agreement with partner Coda Minerals Limited (ASX: COD) (Coda), and the Laloki Copper-Gold Project in PNG.
Appointment of Patrick Say, Exploration Manager
Torrens announced the appointment of Patrick Say as Exploration Manager on 12 January 2021. A qualified geologist, Mr Say brings strong leadership and project management skills, in a broad range of relevant areas including exploration geology, ore definition, financial evaluation, grade control processes and mining, honed by 20 years’ experience in the gold, copper and nickel sectors.