Timah Resources (ASX:TML) shares have climbed after raising $2.1 million through its initial public offering of 10,605,000 shares at $0.20 each.
Shares in the renewable energy generation company are currently at $0.245 after trading started at 11am today.
This satisfies one of the conditions for the acquisition of Mistral Engineering Sdn. Bhd, a bio-gas renewable energy generation company with a plant in Sabah, Malaysia.
Consideration for the acquisition is the issue of 85.5 million shares priced at $0.10.
The plant uses palm oil mill effluent to produce methane, which is used in a conventional gas electricity generator to produce electricity.
Proceeds from the IPO will be used to upgrade the plant to achieve a net electricity export capacity of 3.5 megawatts from the current 3 megawatts.
Timah Resources (ASX:TML) shares have climbed after raising $2.1...
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Last
2.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.307M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10967 | 3.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.6¢ | 49972 | 1 |
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| Last trade - 16.21pm 13/08/2025 (20 minute delay) ? |
| TML (ASX) Chart |
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