Torque’s $15M Placement Fuels Ambitious Paris Gold Exploration—What’s Next?

A Transformational Capital Raise

Torque Metals Limited (ASX, TOR) has announced a $15 million placement priced at $0.30 per share, marking its largest funding initiative since listing on the ASX. The raise attracted strong support from leading global precious metals and natural resource funds, underscoring institutional confidence in Torque’s flagship Paris Gold Project.

The placement price reflects a modest 3.2% discount to the last traded price but a 7.6% premium to the 10-day volume weighted average price, indicating robust demand. With 50 million new shares issued, Torque is now well capitalised to pursue an aggressive exploration and development program.

Accelerating Exploration at Paris

The proceeds will primarily fund an expanded drilling campaign across the Paris Gold Project, located approximately 90km southeast of Kalgoorlie in Western Australia. This project covers a 57km strike within a prolific greenstone belt and currently hosts a mineral resource estimate of 250,000 ounces of gold at an average grade of 3.1 grams per tonne.

Torque plans to deploy modern drilling techniques, including DHEM-guided targeting, to test multiple lodes that remain open in all directions. The company’s managing director, Cristian Moreno, highlighted the project’s proximity to established multi-million-ounce operations and nearby processing infrastructure, which could provide valuable development optionality.

Strategic Positioning and Institutional Support

Chairman Evan Cranston described the capital raise as a “transformational step” for Torque, enabling a bold, multi-rig drilling campaign designed to rapidly unlock the potential of this largely unexplored mineralised trend. The involvement of specialist precious metals funds with a long-term investment horizon adds credibility to Torque’s growth strategy.

Beyond drilling, the funds will also support early-stage feasibility workstreams and assessments of production pathways leveraging the project’s granted mining licences. This financial foundation positions Torque to pursue value-accretive activities with a disciplined approach to capital allocation.

Looking Ahead

With multiple high-grade intercepts reported in recent drilling and significant exploration upside across the Paris Gold Camp, Torque is poised for a potentially transformative year. The company’s focus on expanding the resource base and accelerating discovery could reshape its valuation and market profile.

Investors will be watching closely as the drilling campaign unfolds and early feasibility results emerge, providing clearer insights into the project’s development potential.