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
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