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True North Copper Limited (ASX:TNC)

ALERT: Price-sensitive ASX Announcement for TNC
Current share price for TNC : $0.380 -0.05 (-11.63%)+
Announcement
Release
18 Jun 2026 8:28AM
Price at Release
$0.430
Full Release
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Summary
Renegade Exploration Limited has completed the divestment of its approximately 22% interest in the Carpentaria Joint Venture (CJV) to True North Copper Limited. This transaction, valued at $2.88 million, involves a mix of cash, shares, and performance rights, with Renegade receiving $300,000 in cash, 3,000,000 TNC shares, and TNC's interest in the Prairie Creek Project. This strategic move allows Renegade to focus its resources on its North American exploration portfolio while retaining exposure to potential future developments in the Mongoose-Taipan copper-gold deposits and other TNC projects. The transaction also eliminates Renegade’s future funding obligations within the CJV.
Key Points
  • Renegade Exploration Limited completed the divestment of its ~22% interest in the Carpentaria Joint Venture to True North Copper Limited.
  • The transaction consideration includes $300,000 in cash, 3,000,000 TNC shares valued at $1.5 million, TNC's 91% interest in the Prairie Creek Project valued at $200,000, and performance rights valued at $880,000.
  • Renegade retains exposure to the Mongoose-Taipan copper-gold corridor and TNC's copper assets.
  • Renegade's divestment strategy aims to concentrate resources on North American exploration opportunities.
  • TNC’s acquisition strengthens Renegade’s financial flexibility and allows for capital allocation towards its North American projects.
  • The Mongoose deposit contains 3.1 million tonnes at 0.55% copper and 0.07g/t gold.
  • The transaction allows TNC to integrate Mongoose and Taipan deposits within its Cloncurry Copper Project framework.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.