Australia's True North Copper slips on discounted placement

True North Copper

08/12/2025 04:29

** Shares of True North Copper TNC.AX drop as much as 11.5% to A$0.5, their lowest level since November 26

** Copper explorer to raise A$12.5 million ($8.30 million) through placement

** Offer price of A$0.5 per share represents a 11.5% discount, as of last trading close on Wednesday before it went on trading halt pending announcement

** Funds to accelerate drilling and growth activities in 2026, with focus on co's flagship Mt Oxide Project in Queensland, Australia

** Stock has fallen nearly 80% this year, including session's moves

($1 = 1.5058 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))