Australia's True North Copper set for best day in 7 months after Glencore agreement
23/01/2024 01:12
** Shares of True North Copper TNC.AX rise as much as
38.2% to A$0.094, their highest level since Jan 15
** Stock on track for best day since June 16, if gains hold
** The specialty metals miner signed binding offtake and
toll-milling agreements with Glencore International AG GLEN.L
for onshore project in Queensland
** Co says agreement with Glencore for 100% of copper
concentrate from TNC's project
** Adds agreement for toll-milling services, up to 1 mln
tons of ore per year for project's Life of Mine
** Around 4.7 mln shares change hands, compared with the
30-day average volume of 339,799 shares
** Stock down 35.2% this year, as of last close
(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))