Why the Tempus Resources (ASX:TMR) share price is climbing today

We look at what's driving up shares in the Aussie small cap miner.

| More on:
happy mining worker fortescue share price

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Tempus Resources Ltd (ASX: TMR) share price has jumped 4% higher on Thursday following a drilling and funding update.

Why is the Tempus Resources share price climbing?

The Aussie miner has received firm commitments for a $6.28 million placement to issue 24.99 million shares at an average price of $0.251 per share.

That price is a 1.6% premium to the 15-day volume-weighted average Tempus Resources share price. The share placement was oversubscribed and attracted strong demand from international and Australian institutional investors.

Funds raised from the placement will be used to complete the ongoing 12,000-metre drilling program at the Elizabeth Gold Project in Canada. Drilling is continuing at the site with 15 drill holes completed in 2021 so far.

All 15 holes have intersected quartz vein mineralisation between 0.5 to over 6 metres in thickness. The drilling so far has covered approximately 4,300 on the SW Vein.

Assays have been received for the first four holes of 2021. Those results have reportedly demonstrated high-grade and continuity of the SW Vein structure.

The Tempus Resources share price shot higher last Tuesday following its last strong drilling update. That included some "bonanza" grade intersections at Elizabeth.

That included hole EZ-21-04 where the intersection returned 4 metres at 31.2 grams per tonne of gold from 122 metres. This included 1.5 metres at 52.1 grams per tonne of gold (g/t Au) from 123 metres and 0.50 metres at 72 g/t Au from 124 metres.

Foolish takeaway

Today's funding and drilling update has been well-received by the market. The Aussie small cap's shares are up 4% in the early afternoon to 26.5 cents after a strong start to the day.

The Tempus Resources share price has been on a bullish run in August. Shares in the Aussie miner have rocketed 48.57% higher in the past month following a series of updates.

Should you invest $1,000 in Tesla right now?

Before you buy Tesla shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Tesla wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy finish to the week for ASX shares this Friday.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Boss Energy, Capstone, Dimerix, and Platinum shares are storming higher today

These shares are having a good finish to the week. Let's find out why.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

These were the best-performing ASX 200 shares in April

These shares were in fine form in April. Let's see why they outperformed.

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX made it three from three.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Cedar Woods, Orthocell, PEXA, and St Barbara shares are storming higher today

These shares are having a good session on hump day. But why?

Read more »