Tartana Files Prospectus for ASX Quotation of 129.75 Million Options

Options Quotation to Unlock Trading Liquidity

Tartana Minerals Limited (ASX:TAT) has taken a key step in its capital management by lodging an Options Cleansing Prospectus with ASIC, aiming to facilitate the official ASX quotation of 129,750,009 options. These options, issued earlier this year as part of a $4.5 million placement, carry an exercise price of 5.5 cents and expire on 28 April 2029. The company expects to list these options under the ASX code TATO, pending approval.

The move fulfills a commitment Tartana made in February 2026 when the options were first issued, effectively removing trading restrictions on these securities. The Offer also includes a token issue of 1,000 options at nil issue price, designed solely to comply with regulatory requirements and enable quotation.

Invitation-Only Offer with No Immediate Capital Raised

The options are being offered exclusively to invited investors, not the general public, and no funds will be raised from the issue of options under this prospectus. Should all options be exercised, Tartana would receive approximately $55 before costs, underscoring the nominal immediate financial impact. Shares issued upon exercise will rank equally with existing shares, maintaining shareholder rights parity.

While the company intends to secure ASX quotation, it cautions that approval is not guaranteed. Official quotation requires meeting conditions such as a minimum number of holders and marketable parcels, and failure to meet these could leave the options unquoted. Even if quoted, liquidity and active trading cannot be assured.

Capital Structure and Control Unchanged

The options quotation will not alter Tartana’s control structure. The company notes that no shareholder will exceed 20% voting power as options do not carry voting rights. Notably, Xingye Gold (Hong Kong) Mining Company Ltd remains the largest substantial shareholder with a 9.99% stake acquired through a recent placement, though no further securities are planned for this investor at present.

Comprehensive Risk Disclosures Highlight Speculative Nature

Tartana’s prospectus lays out an extensive risk framework, reflecting the inherent uncertainties of mineral exploration and development. Key risks include the need for additional capital, operational and exploration challenges, environmental compliance, and potential dilution from future securities issuance. The company also flags risks related to mining tenure, native title claims, commodity price volatility, and geopolitical tensions.

Directors’ interests and remuneration are transparently disclosed, with Executive Chairman Sonny Didugu holding over 4.8 million options exercisable at the same price. The company emphasizes that investment in these options is speculative and urges potential investors to seek professional advice.

Governance and Ongoing Review Underway

Following recent board changes and management reviews announced earlier this year, Tartana is navigating a period of strategic reassessment. The company has flagged ongoing internal reviews that may lead to further announcements. Meanwhile, the cleansing prospectus and target market determination aim to align the options offering with regulatory standards and investor protections.