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TerraCom Limited ( (AU:TER) ) has issued an update.
TerraCom Limited has reached an agreement with the Australian Securities and Investments Commission (ASIC) to resolve civil proceedings related to a contravention of the Corporations Act 2001. The agreement, pending Federal Court approval, includes TerraCom paying a $7.5 million civil penalty and $1 million in ASIC’s legal costs. This resolution is significant as it allows TerraCom to move forward from the legal proceedings, potentially stabilizing its operations and reassuring stakeholders.
More about TerraCom Limited
TerraCom Limited is an Australian-based mining resources company with a global presence, operating primarily in the coal sectors in Australia and South Africa. The company is recognized as a low-cost producer, focusing on delivering high returns from its diversified asset portfolio for investors.
Average Trading Volume: 2,469,329
Technical Sentiment Signal: Sell
Current Market Cap: A$46.46M
See more insights into TER stock on TipRanks’ Stock Analysis page.