May. 15 at 8:44 PM
$TBN raises
$55.4M via stock sale and offloads 100K Beetaloo acres for
$15M. While the capital infusion extends their runway, existing shareholders face dilution. The asset sale streamlines their focus but reduces acreage. Regulatory and shareholder approvals still pending - critical for the remaining
$11M funding. Cash burn continues unabated.
https://www.sec.gov/Archives/edgar/data/1997652/000162828025025997/trc-20250512.htm