Australian (ASX) Stock Market Forum

TEM - Tempest Minerals

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Look what TEM did to me last month. This month, please do something different so that I am not last by a massive margin.
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TEM has been a disaster over the two months . Luckily for TEM, I have no time to think of another dog stock. I am picking you again. ?
Maybe I should find out why TEM dropped so fast.
Thank you @debtfree for reminding me which stock I have poorly picked but also for showing everyone how badly I am performing. ?
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Boy, TEM really did get smashed since that spike in late March. I expected that it would retrace, but didn't expect it to get back to 4.7c.

I can't work out whether people are just getting impatient or whether there is real concern about the assay results living up to the expectations set by the visual examination of the core. The fact that it was the first hole drilled also got the market very excited. But the share price collapse has been far greater than I could have anticipated. TEM is either a very good bet at current levels, or something is wrong here.

$9 million cash ($8.44 million raised at 8.5c last month), a market cap of just $24.7 million, and potentially game changing assay results set to be announced in the near future. The next couple of months will be a very interesting time for TEM.
 
TEM signs MOU with Karara Mining Limited to enter into an exploration Joint Venture over Karara's exploration leases along strike from the Karara Magnetite Iron mine in Western Australia.

The MOU provides a non-binding agreement with the aim of entering a Joint Venture over KML exploration ground where TEM has exclusive right to earn up to 70% of the project area over 4 years.

The exploration package includes 138km2 of highly prospective yet underexplored Yalgoo Greenstone Belt which is adjacent to the 100% owned TEM Euro Project.
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Smart strategic move by TEM and another iron in the fire. It looks like TEM's Euro Project extends into Karara's leases so this MOU will enable them to benefit from any extensions of that project that are not within their own exploration leases. TEM can also earn up to 70% of any extensions to Karara's Magnetite Iron mine that fall within the JV area. So overall a net positive for TEM.

Consideration is quite reasonable too:

Stage 1 (commencement): TEM will issue to KML (or its nominee) $30,000 in fully paid ordinary shares or pay $30,000 in cash and will have the right to earn a 51% interest in the Assets (Stage 1 Interest) free from encumbrances by incurring A$800,000 of exploration expenditure on the Tenements over a period of 2 years and 6 months.

Stage 2: On earning the Stage 1 Interest, TEM can elect to carry on to the Stage 2 Earn-in Period to earn the Stage 2 Interest of up to 70% of the Project. TEM will issue to KML (or its nominee) $20,000 in shares or pay $20,000 in cash and will have to spend A$400,000 of exploration expenditure on the Tenements over a period of 2 years.
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Initial assays from the recent drilling at the Meleya Project expected this month.
 
TEM flying this morning, up over 30% on high volume. Someone is accumulating. Those assay reults from the Meleya Project can't be far away.
 
Dona Ferentes said:
now 55% up. $0.058

and @Faramir leading the June comp, pro tem
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TEM on fire and headiing for a strong finish. Currently at 6.3c. The price action so far today indicates that it will likely finish at or near its high for the day. The sell side is thinning out as sellers back off. Has something leaked to the market? An ASX speeding ticket wouldn't surprise me given the huge move today.
 
A pause in trading has just been announced. I expect that it is the long awaited assay results from the Meleya Project. Either that or a response to an ASX speeding ticket.
 
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Looks like there's a lot going on behind the scenes at TEM. Here's the relevant part of their response to the ASX price and volume query:

TEM advises that the following may be contributing to strong interest in the Company:

I. Members of the TEM Board have recently returned from marketing activities in North America - including attendance at the Prospectors & Developers Association of Canada (PDAC) convention in Toronto - where strong interest in the TEM story was expressed by many parties.

II. TEM has a number of previously announced planned upcoming activities at the Meleya Project including downhole geophysics, field sampling, drilling and pending assays from WARDH72 and WARDH73. Unfortunately there have been delays experienced industry wide in WA in being able to finalise assays in a timely manner. Presently, TEM believes that assays for key zones should be available within 2 weeks and complete assays of both holes should be available within 8-10 weeks and TEM will update the market as soon as it is able to do so."

III. As advised in previous reporting by TEM including section 6.4 of the TEM Prospectus released on ASX on 21 June 2022 “...Whilst progressing exploration on its existing projects, the Company also continues to investigate other mining and exploration opportunities in the best interests of all shareholders of the Company, with a primary focus on prospective gold and copper projects. Presently the Company is looking at a number of gold mining and exploration projects in Australasia and North America. No assurance can be given that the Company will be successful in acquiring any further mining and exploration interests…..”

Any such opportunities are in very early stage and as such the Company has no material information which can be disclosed at this time.
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Not sure what this will do to the share price tomorrow, but there are some significant announcements due to be released in the near future.
 
Here we go again. 25 million shares traded in the first 30 minutes today, and share price up another ~30%. This doesn't look like just retail traders.

Stockhead gave TEM a little write up that may have also generated some interest.


TEM230622.png
 
The TEM feeding frenzy continues today. Around 160 million shares have changed hands in the last four trading sessions (32 million today) and the share price is up another ~15% so far today. Very bullish price action that may result in some Change in substantial holding notices in the near future.

Not much else to add right now, but here is a recent interview with MD Don Smith that some may find interesting.

 
Here is the one month chart.

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I can’t remember what time I opened up Aussies Stock Forums but I have missed the deadline.

I would have picked TEM again because I can’t think of anything else. Late night tonight due to me taking my partner back to her home after visiting her Dad in hospital.

It doesn’t matter about missing the comp this month. I will make sure to enter a few days earlier next month.

Thank you TEM for finally helping me win June 2022. ?
 
After flirting with resistance at 10c yesterday, it looks like today is the day TEM powers through it. Still no announcement but based on recent price action it can't be far away and it seems clear to me that something positive has leaked to the market. After 10c, TEM will be going up in half a cent increments so it could move north much faster now.
 
TEM smashed this morning after releasing disappointing initial assay results for WARDH72.

This is what caused the dump:

Initial assays show multiple zones to be highly anomalous in base metals including copper, zinc, molybdenum and silver. Some results received to date are lower than those anticipated from the previously reported visual estimates. The geology team consider this may be due to low copper to iron ratio in chalcopyrite and/or greater percentage of pyrite to chalcopyrite than visually apparent.
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TEM share price is currently down 38.64% to 5.4c. I can't imagine it will see much traction for a while as it will be six to eight weeks until further results are released.
 
greggles said:
TEM smashed this morning after releasing disappointing initial assay results for WARDH72.

This is what caused the dump:



TEM share price is currently down 38.64% to 5.4c. I can't imagine it will see much traction for a while as it will be six to eight weeks until further results are released.
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it does hurt: in at 8c out at 5.4c in the same week..ah well, one lost today more to lose on Monday....:-(
 
TEM currently in a Trading Halt pending an announcement regarding "a new mineral project acquisition".

An interesting development. Hopefully the upcoming announcement will be more impressive than the one released early last month that caused the share price to plummet from 10c to 4c.

TEM_Trading_Halt_page-0002-min.jpg
 

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