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True North Copper Limited (ASX:TNC)

ALERT: Price-sensitive ASX Announcement for TNC
Current share price for TNC : $0.355 -0.075 (-17.44%)+
Announcement
Release
17 Aug 2026 9:30AM
Price at Release
$0.430
Full Release
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Summary
True North Copper Limited (ASX:TNC) has announced firm commitments to raise A$18 million through a share placement and an additional A$2 million through a Share Purchase Plan (SPP) to accelerate its copper growth projects. The funding is aimed at finalizing the A$7.5 million deferred payment for the Mt Oxide Project acquisition and supporting growth initiatives across both the Mt Oxide and Cloncurry Copper Projects. The placement involves the issuance of 48,648,649 shares at A$0.37 each, with a two-tranche settlement approach. Key shareholders, including Tembo Capital, are participating, and the funds will facilitate ongoing drilling at Mt Oxide's Aquila site, completion of a pre-feasibility study at Cloncurry, and further exploration efforts. The initiative is part of TNC's strategic growth pillars: GROW, DEVELOP, and DISCOVER, focusing on expanding resources at Mt Oxide, developing cash flow from Cloncurry, and exploring regional targets.
Key Points
  • True North Copper Limited to raise A$18 million via share placement.
  • Additional A$2 million through a Share Purchase Plan.
  • Funds to finalize Mt Oxide Project acquisition and support growth.
  • Placement involves issuing 48,648,649 shares at A$0.37 each.
  • Tembo Capital and other institutional investors participating.
  • Funds support drilling and exploration at Mt Oxide and Cloncurry projects.
  • Strategic growth aligned with GROW, DEVELOP, and DISCOVER pillars.
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.