Talonx opens A$1 million SPP for Botswana copper and Viking gold work

Shareholders offered access to A$0.005 placement price

Talonx Resources Limited (ASX:TXR) is giving retail shareholders a chance to join its latest funding round, with a non-underwritten Share Purchase Plan targeting up to A$1 million before costs. The offer price of A$0.005 per share matches the price paid by institutional and sophisticated investors in the company’s recent placement.

The SPP follows the A$775,000 share placement, which included A$665,000 of shares allotted on 6 November and a proposed A$110,000 director tranche requiring shareholder approval. Eligible holders can apply for parcels ranging from A$2,500 to A$30,000, with no brokerage or transaction costs charged by the company.

Kihabe and Viking to receive exploration funding

Talonx says the proceeds will fund a significant ramp-up of copper and base-metals exploration at the Kihabe Project in Botswana, alongside further drilling at the Viking Gold Project in Western Australia. The company also intends to use part of the money for general working capital and the costs of the placement and SPP.

The allocation places Kihabe at the centre of the company’s exploration push. Earlier coverage described the project as hosting established zinc-lead-silver resources and historical copper intersections, but the current filing does not provide a new drilling result, copper resource estimate or development decision. At Viking, the funding is intended to support the next phase of the Viking maiden resource drilling, which was previously planned to test extensions and improve drilling density at the Beaker 2 prospect.

Non-underwritten offer leaves funding outcome open

The SPP is not underwritten, so the full A$1 million target is not assured. Talonx may accept oversubscriptions, subject to the ASX Listing Rules and the Corporations Act, while retaining broad discretion to reject or scale back applications.

The issue price represents no discount to the A$0.005 closing price cited in the booklet, but a 6% discount to the five-day volume-weighted average price of A$0.0053. The company warns that the market price could move below or above the issue price before the new shares are issued, and that the offer document is not a prospectus. The SPP is scheduled to close on 11 December 2026, with the results and share issue expected on 17 December and trading expected to begin on 18 December, although the timetable is indicative.