True North Copper

*Reminder* TNC's Share Purchase Plan is closing tomorrow, Tuesday 17 December at 5pm AEDT. The recapitalisation of TNC extinguishes all lender debt and enables the company to focus on the exploration upside at our Cloncurry Copper Project and Mt Oxide Project in Queensland, a Tier-1 mining jurisdiction with a long-history of successful copper exploration. Read the letter to Shareholders: https://lnkd.in/ge6Vwv3m

Managing Director, Bevan Jones has written a letter to Shareholders, addressing TNC's recapitalisation and revised business strategy focused on exploration at Cloncurry Copper Project and Mt Oxide Project. Upon completion of the recapitalisation, TNC will be debt free, with a robust balance sheet. To support the next phase of growth, last week TNC opened a Share Purchase Plan (SPP) to raise up to $5 million. The SPP gives shareholders the opportunity to invest in the company’s future on the same terms as our recent A$50.3 million Conditional Placement, which received strong support from key stakeholders: Tembo Capital Holdings, Regal Partners and Glencore Australia. Under the SPP, TNC is offering Eligible Shareholders the opportunity to acquire up to A$30,000 worth of shares at A$0.005/share. The SPP is currently due to close at 5.00pm (AEDT) on Tuesday, 17 December. Shares under the SPP are expected to be issued on 24 December 2024 and to commence trading on ASX on 7 January 2025. Read the letter to Shareholders: https://lnkd.in/ge6Vwv3m #TNC #copper #exploration

Managing Director Bevan Jones discussed TNC's renewed exploration focus, "one of the things this pause has done is given us the opportunity to say, well, where would our capital be better focused." TNC has released the Share Purchase Plan (SPP), outlining the offer to Eligible Shareholders. The SPP Offer is scheduled to close at 5.00pm (AEDT) on 17 December 2024. Watch the full interview with Kerry Stevenson on Making Money Matter: https://lnkd.in/gngsJazY #TNC

A True North revitalisation I Australian Mining "True North also opened a share purchase plan (SPP) on December 4 to raise up to a further $5 million at the same offer price as the conditional placement. The SPP gives existing shareholders an opportunity to participate in True North’s new strategy, which following the pause of its Cloncurry ramp-up, will include a reverse circulation drill program at the project, before commencing drilling at the Mt Oxide project once seasonal conditions permit." https://lnkd.in/gHng9hSm

True North Copper is set to re-emerge on the ASX following completion of a recapitalisation of the company with funds raised to enable TNC to embark on a material drilling campaign to further define the existing resources at our Cloncurry Copper and Mt Oxide Projects.  Following the successful completion of the fully underwritten A$50.3 million Conditional Placement, True North Copper is pleased to present the Share Purchase Plan (SPP) Prospectus. The SPP Prospectus provides details of the offer to Eligible Shareholders of up to 1,000,000,000 Shares at an issue price of $0.005 per Share to raise up to $5,000,000 (on pre-Consolidation basis) (SPP Offer). The SPP Offer is currently scheduled to close at 5:00pm (AEDT) on 17 December 2024. Valid applications must be received by that time. Managing Director Bevan Jones spoke to Kerry Stevenson to discuss the company's renewed focus on exploration and resource definition drilling strategy. View the Share Purchase Plan Prospectus: https://lnkd.in/gHwPSahV Watch the full interview with Kerry Stevenson: https://lnkd.in/gj6hnW4t

We are pleased to share the Recapitalisation and Equity Raising Presentation following the completion of the fully underwritten $50.3m conditional placement. The equity raising, planned to extinguish all debt and provide funding for a revised exploration and resource definition drilling strategy, has received strong support from key stakeholders. Paul Cronin, co-founder and previous Managing Director of Adriatic Metals Plc, is proposed to be appointed as Non-Executive Chairman following completion of the Recapitalisation and has committed to participate for A$500,000 in the Conditional Placement, subject to shareholder approval. Managing Director, Bevan Jones, said: “The successful completion of the fully underwritten A$50.3 million Conditional Placement to recapitalise True North is a great outcome and a testament to the strength of the company’s outlook and highly prospective portfolio of copper assets. With a strong cash position, zero debt and a new experienced board and leadership team, we now have the opportunity to refocus our strategy and explore growth opportunities. The new True North strategy is to pause, drill and optimise our existing highly prospective lease package. The recapitalisation process has given us the opportunity to revise the company’s direction and set it on a revitalised path. We have recently completed extensive surface mapping at Mt Oxide including rock chip sampling and a very successful GIS IP survey. We have found that there are previously unknown, multiple mineralised zones that point to a district size mineral system much bigger than just the Vero deposit. At Cloncurry we have paused mining and have moved into a low-cost base while we rethink the original, small scale starter pit strategy. Surface exploration has identified multiple new targets at our Cloncurry Copper Project. Geophysical surveys have produced potential mine-scale-changing targets within our current mining leases. Exploration around our Wallace North lease package has also led to potential underground extensions to the ore body. We look forward to undertaking our extensive drilling programs at Cloncurry and Mt Oxide, commencing in Q1 2025. True North is entering into an exciting exploration phase focused on the growth of our two most prospective regions.” Read the "Fully Underwritten A$50.3 million Conditional Placement" announcement: https://lnkd.in/gnAi_7CZ #TNC #copper #exploration

𝗨𝗻𝗲𝗮𝗿𝘁𝗵 𝘆𝗼𝘂𝗿 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝗮𝘁 𝗧𝗿𝘂𝗲 𝗡𝗼𝗿𝘁𝗵 𝗖𝗼𝗽𝗽𝗲𝗿 Are you looking for a challenging and rewarding career? We're seeking a dedicated Mine Site Accountant to join our team at the Great Australia Mine (GAM) in Cloncurry. As a Mine Site Accountant, you'll play a crucial role in driving operational efficiency. You'll work closely with our senior management team on-site to manage costs, budget, forecast, and report on financial performance. WHAT WE OFFER: Permanent full-time position with a Monday-Friday work week Competitive salary and benefits Opportunity to contribute to a dynamic and growing mining company Ideal candidates will have previous experience in the mining and resource sector. Ready to embark on a rewarding career journey? Apply now: https://lnkd.in/gD2X-EHV #mining #accountant #career #TrueNorthCopper #GAM #Cloncurry

Operations ramp up at Cloncurry I Australian Resources & Investment "True North Copper (TNC) continues to make significant strides at its Cloncurry copper project (CCP) in Queensland. Operations are ramping up according to plan, positioning the company to become Australia’s next copper producer and critical metals supplier by the first quarter of 2025, with sulphide processing expected to commence in the new year." https://lnkd.in/gWR7QzCm

"Within a few days, we are actually going to see the first copper starting to go into the solvent extraction plant that is part of the restart that we've done at Cloncurry." Managing Director Bevan Jones spoke to Mining.com.au's Shae Russell from the heap leach pad at our Cloncurry Copper Project. https://lnkd.in/gY8Pt5Ee #TNC