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TWENTY SEVEN CO. LIMITED - Corporate Spotlight

Twenty Seven Co. Limited (TSC) 's core objective is primarily gold-exploration across its... Twenty Seven Co. Limited (TSC) 's core objective is primarily gold-exploration across its three highly prospective properties in Western Australia’s goldfields comprising Mt Dimer, Yarbu and Rover Gold Projects.More

Corporate Spotlight

Twenty Seven Co. Limited (TSC) 's core objective is primarily gold-exploration across its three highly prospective properties in Western Australia’s goldfields comprising Mt Dimer, Yarbu and Rover Gold Projects.
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Twenty Seven Co (ASX:TSC) eyes $2.65M rights issue

TSC EYES $2.6M RIGHTS ISSUE

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Twenty Seven Co (ASX:TSC) eyes $2.65M rights issue

Mining

ASX:TSC    

  • Twenty Seven Co (TSC) will be undertaking a partially underwritten renounceable rights issue to raise up to $2.65 million

  • To raise the funds, shareholders will be offered one new fully paid ordinary share for every four held 
  • Shares will be priced at 0.5 cents, a 21 per cent discount to the 30-day volume-weighted average price of 0.63 cents
  • Participants will also receive one attaching option for every two shares subscribed for, exercisable at 0.9 cents with expiry on October 31, 2023
  • TSC will use the funds to assess exploration and mining activities at the Mt Dimer Mining Lease and accelerate work at the Rover Project
  • TSC is up 8.33 per cent and shares are trading at 0.7 cents

Twenty Seven Co (TSC) will be undertaking a partially underwritten renounceable rights issue to raise up to $2.65 million. 


To raise the $2.65 million, shareholders will be offered one new fully paid ordinary share for every four held as of April 16. 


Shares will be priced at 0.5 cents, a 17 per cent discount to TSC's last close of 0.6 cents and a 21 per cent discount to the 30-day volume-weighted average price of 0.63 cents.


Shareholders will also receive one attaching option for every two shares subscribed for, exercisable at 0.9 cents with expiry on October 31, 2023. 


The rights issue will be partially underwritten by Mahe Capital to the tune of $1.5 million. 


TSC will use the funds to assess exploration and mining activities at the Mt Dimer Mining Lease, progress exploration at Mt Dimer and accelerate work at the Rover Project. 


"TSC is pleased to announce funding for the next level of work across its expansive suite of exploration projects," CEO Simon Phillips said. 


"TSC's Board and management are excited for the opportunities that this funding will bring to shareholders through maximisation of its current and future exploration and mining activities," he added. 


The offer opens on April 21 and closes on May 5. Shares will be issued on May 12 and begin trading on the ASX on May 13.

TSC is up 8.33 per cent and shares are trading at 0.7 cents at 11:27 am AEST.


Read the full article on The Market Herald here. 

TSC MT DIMER HIGH GRADE POTENTIAL

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Twenty Seven Co (ASX:TSC) confirms Mt Dimer’s shallow, high-grade potential

Mining

ASX:TSC 
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  • Twenty Seven Co (TSC) has confirmed the Mt Dimer mining lease in WA has strong potential to contain a shallow, high-grade gold–silver system
  • The company received the final batch of results from drilling completed in February
  • Pleasingly, assays have returned grades of up to 23g/t gold and 29.2g/t silver
  • When combined with historical data, Twenty Seven Co has enough drilling data to put together a JORC-compliant mineral resource for the Mt Dimer mining lease
  • The company will now prioritise this alongside its soil sampling program at another part of the Mt Dimer Project
  • TSC's shares are up 8.33 per cent and trading at 0.7 cents

    Twenty Seven Co (TSC) has received final assays from drilling at the Mt Dimer mining lease which is part of the Mt Dimer Project in WA.

    TSC conducted a 26-hole drilling program in February, which extended gold and silver mineralisation, provided a better understanding of the mining lease and gave enough evidence for a potential mineral resource estimate.

    The final 16 drill holes have returned pleasing results, confirming the Mt Dimer mining lease has great potential to be a shallow, high-grade gold–silver system.

    Latest and best results include eight metres at 13.55g/t gold from 80 metres including four metres at 23g/t gold, six metres at 7.07g/t gold and 6.93g/t silver from 45 metres including one metre at 22.9g/t gold from 49 metres and one metre at 1.5g/t gold and 29.2g/t silver from 130 metres.

    Encouragingly, these assays validate historical results including seven metres at 3.19g/t gold and 14g/t silver from 106 metres including three metres at 6.5g/t gold and 25.4g/t silver from 106 metres and one metre at 8.15g/t gold and 26.9g/t silver, o.6 per cent lead and 0.62 per cent zinc from 84 metres.

    "Assessing the assays holistically verifies the integrity of legacy data and delivers clear evidence the Mt Dimer mining lease is a possible shallow, high-grade gold-silver system," CEO Simon Phillips said.

    "As such, the board's next goal is to have the geology team model up a JORC-compliant resource which will determine next steps for the Mt Dimer mining lease," he added.

    Twenty Seven Co's immediate priority is to complete a JORC-compliant mineral resource for Mt Dimer, while it progresses soil sampling over an exploration licence at the Mt Dimer Project.

    Company shares are up 8.33 per cent and trading at 0.7 cents at 10:10 am AEST.


    Read the full article on The Market Herald here.


ABOUT US

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Twenty Seven Co. Ltd (TSC) is a principally a gold-focused explorer, with highly prospective assets in  Western Australia’s goldfields


Formed in August 2018 initially as a diversified ‘new-energy’ focused explorer, Twenty Seven Co. Limited (TSC) has since re-shaped its strategic agenda.


After a strategic review in mid-2019, TSC’s core focus re-oriented towards the Rover Gold Project in the WA’s goldfields. Targeting a 20km strike extent over the Maynard Hills greenstone belt, TSC’s inaugural drilling campaign intersected shallow, high-grade gold at the Creasy 1 Prospect. Ongoing soil sampling and geophysical surveys have identified multiple targets for follow up drill-testing moving forward.


Subsequently, TSC has expanded its footprint in WA’s goldfields with the acquisition of the Mt Dimer – comprising a mining lease and exploration licence – and Yarbu Gold Projects.


TSC’s experienced management team, headed by CEO Simon Phillips, have a proven track record across the resource value chain from exploration, discovery, development and establishing mining operations.


Project Overview


From 2021, TSC has committed to focus entirely on three prospective projects Western Australia’s goldfields which are owned outright:  


ROVER GOLD PROJECT: A strategic tenement holding in the Central Yilgarn that is 460km2 covering two parallel linear greenstone belts. Since development work commenced in 2020, comprising several drilling campaigns, an amazing array of gold mineralisation has been discovered. Overall, TSC views the Rover Gold Projectas highly prospective and “drill ready” moving forward.


MT DIMER GOLD PROJECT: Located around 125kms north-east of Southern Cross, the Mt Dimer Gold Project comprises a mining lease, with historic production and known mineralisation, and adjacent exploration license. The inaugural drilling campaign, which was completed in February 2021, will provide fresh data for TSC’s geology consultants to model into a JORC compliant resource and critical input on determining if mining operations should recommence.


YARBU GOLD PROJECT: Located on the Marda-Diemals greenstone belt, adjacent to Ramelius Resources (ASX:RMS) Marda Gold Project. TSC’s tenure covers a 22km long zone on the Clampton Fault which is priority to be developed, given it is highly prospective for gold mineralisation. 

VIDEOS

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SHALLOW HIGH-GRADE GOLD CONFIRMED MT DIMER


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