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True North Copper
(Sydney:TNC)
True North Copper (TNC) vs. iShares MSCI Australia ETF (EWA)
True North Copper Business Overview & Revenue Model
True North Copper Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 665.00K | 2.39M | 1.50M |
| Gross Profit | -14.11M | 497.59K | 1.18M |
| EBITDA | -17.85M | -21.53M | -33.80M |
| Net Income | -28.42M | -25.06M | -34.05M |
Balance Sheet | |||
| Total Assets | 98.69M | 111.69M | 75.30M |
| Cash, Cash Equivalents and Short-Term Investments | 12.81M | 15.48M | 3.49M |
| Total Debt | 0.00 | 25.79M | 406.21K |
| Total Liabilities | 24.61M | 66.24M | 45.74M |
| Stockholders Equity | 74.08M | 45.45M | 29.56M |
Cash Flow | |||
| Free Cash Flow | -19.55M | -34.82M | -45.14M |
| Operating Cash Flow | -19.43M | 0.00 | 0.00 |
| Investing Cash Flow | -5.35M | -28.37M | -38.16M |
| Financing Cash Flow | 22.11M | 64.22M | 46.90M |
True North Copper Peers Comparison
True North Copper Corporate Events
True North Copper has reported Phase 2 drilling results from its Mt Oxide Project in northwest Queensland, confirming the geometry, scale and continuity of copper-silver-cobalt mineralisation at the Aquila discovery and validating Acanthis as a parallel mineralised trend. Drilling at Aquila has defined thick, near-vertical mineralisation with true widths of roughly 45–60 metres over a central 250-metre zone and more than 1,000 metres of strike, while first-pass drilling at Acanthis intersected copper mineralisation coincident with geophysical anomalies, supporting the regional geophysical model and the district’s broader potential. These results strengthen the technical foundation for True North Copper’s fully funded 2026 exploration campaign, which will include extended IP surveys, diamond and reverse circulation drilling to expand Aquila at depth and along strike, refine geological models and systematically test parallel trends such as Acanthis and Apollo, with the aim of advancing Mt Oxide into a multi-target, district-scale copper district and guiding capital allocation within the company’s staged growth strategy.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.65 price target. To see the full list of analyst forecasts on True North Copper stock, see the AU:TNC Stock Forecast page.
True North Copper Limited has disclosed a change in director Paul Cronin’s interests in the company’s securities. The filing with the ASX shows that 5,000,000 options previously held by Cronin, exercisable at A$0.60 and due to expire on 31 December 2025, have lapsed, leaving him with 3,194,564 fully paid ordinary shares and no remaining options. The change modestly alters the director’s exposure to future equity upside without affecting his existing shareholding, and signals the expiry of a significant block of options previously on issue to a key board member.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.52 price target. To see the full list of analyst forecasts on True North Copper stock, see the AU:TNC Stock Forecast page.
True North Copper Limited, an ASX-listed copper exploration and development company, has adjusted its capital structure following the expiry of a tranche of listed options. The company announced that 5 million TNCAO options, each exercisable at A$0.60 and due to expire on 31 December 2025, have lapsed unexercised, resulting in the cessation of these securities. The expiry reduces the pool of potential future share dilution tied to these instruments, modestly simplifying the company’s capital base and clarifying the current equity position for existing shareholders.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.52 price target. To see the full list of analyst forecasts on True North Copper stock, see the AU:TNC Stock Forecast page.
True North Copper Limited has notified the ASX of the issue of 850,000 unquoted performance rights under its employee incentive scheme, effective 19 December 2025. The new securities, which are not intended to be quoted on the ASX, form part of the company’s approach to staff and executive remuneration, aligning employee incentives with long-term shareholder value and reflecting standard capital management practices in the Australian resources sector.
True North Copper has called an extraordinary general meeting (EGM) for its shareholders to be held virtually on 30 January 2026 at 10:00am Brisbane time via the Automic online platform. The meeting notice outlines that only registered shareholders as at 7:00pm AEST on 28 January 2026 will be eligible to vote, and it sets out the procedural details for accessing the virtual platform, creating or using an Automic account, lodging proxy votes and participating in real-time voting and Q&A, underscoring the company’s push to facilitate broad shareholder participation in governance despite the fully online format.
True North Copper Limited has announced successful assay results from its Aquila project in the Mount Oxide district, confirming high-grade copper mineralization along a 250-meter depth and 60-meter width. The results highlight the potential for further exploration and discoveries in the area, with the mineralization remaining open along strike and at depth. The company plans to continue its exploration efforts with a 2026 drilling program aimed at extending the Aquila footprint and testing additional high-priority targets. This development positions Mount Oxide as an emerging copper district, potentially comparable to other major deposits in the region, and aligns with True North’s strategic growth objectives.
True North Copper Limited has announced a proposed issuance of 25 million ordinary fully paid securities, scheduled for January 30, 2026. This move is part of the company’s strategic efforts to enhance its financial standing and support its operations, potentially impacting its market position and offering opportunities for stakeholders.
True North Copper Limited has successfully raised A$12.5 million through a heavily oversubscribed placement to accelerate its drilling and growth activities at the Mt Oxide Project and the new Aquila discovery. The funding will support the company’s strategic pillars of growth, development, and discovery, positioning True North Copper to expand its high-quality copper portfolio and create long-term shareholder value. Key initiatives include targeted drilling at the Cloncurry Copper Project and systematic exploration at Mt Oxide, with significant developments expected in 2026.
True North Copper Limited has requested a trading halt on its securities pending an announcement regarding capital raising plans. The halt will remain in effect until the announcement is made or normal trading resumes on December 8, 2025, potentially impacting the company’s financial strategy and market position.
True North Copper Limited has commenced a Pre-Feasibility Study (PFS) for its Cloncurry Copper Project, following successful 2025 drilling results that revealed high-grade copper-gold intersections at Wallace North and the Great Australia Mine. The PFS aims to build on a low-capital development pathway, utilizing existing infrastructure and toll-treatment agreements to enhance project economics and operational efficiency. The study will focus on optimizing processing configurations and updating economic models to support a potential Final Investment Decision by late 2026 or 2027, with ongoing stakeholder engagement and regulatory progress.
True North Copper Limited announced a change in the director’s interest, specifically regarding Andrew Mooney’s indirect interest through the Mooney Family Trust. The change involved the acquisition of 1,000,000 performance rights approved by shareholders at the recent AGM, with these rights set to expire on November 27, 2030. This move reflects the company’s ongoing strategic adjustments to align with its operational goals and shareholder interests.
True North Copper Limited has announced a change in the director’s interest, specifically concerning Paul Frederiks. The change involves the acquisition of 500,000 performance rights by the Frederiks Family Superannuation Fund, replacing previously held options that lapsed by agreement. This shift, approved at the recent AGM, reflects strategic adjustments in the company’s governance and potentially impacts its market positioning by aligning director interests with long-term company performance.
True North Copper Limited announced that all resolutions proposed at its Annual General Meeting on November 27, 2025, were passed through a poll. The resolutions included the adoption of the remuneration report, election and re-election of directors, approval of a 7.1A mandate, and the issuance of securities and performance rights under an incentive plan. These approvals indicate strong shareholder support and are likely to impact the company’s governance and operational strategies positively.
True North Copper Limited has announced significant progress at its Aquila Discovery, part of the Mt Oxide Project, with the strike length now exceeding 900 meters. The recent drilling results have identified multiple high-grade copper shoots, enhancing the project’s potential to rival the existing Vero deposit. This expansion positions the Mt Oxide Project as a burgeoning multi-deposit copper district. The company plans further exploration in 2026, targeting extensions and additional high-priority zones to expand its resource base.
True North Copper Limited has announced significant drilling success at its 100%-owned Mt Oxide Project, particularly at the Aquila Discovery. The latest drilling results have extended the known mineralized strike by an additional 200 meters, confirming a total strike length of more than 700 meters with mineralization open in all directions. This positions Aquila as a substantial mineral system comparable to significant deposits in the Mt Isa Inlier. The Phase 2 drilling program has been completed, with further assay results pending, and plans are underway for a follow-up drilling program in 2026. This discovery is considered one of the strongest copper intercepts reported this year in Australia, indicating potential for further high-grade copper zones.
True North Copper has announced its strategic plans to develop a staged copper growth platform in Queensland, focusing on its advanced Cloncurry copper-gold project and new discoveries in the Mt Oxide region. The company aims to complete a robust feasibility study by late 2026, highlighting district-scale growth potential and the possibility of a large-scale IOCG system near Cloncurry. This development positions True North Copper as a strategic multi-asset developer with a clear path from discovery to production, potentially impacting its operations and market positioning significantly.
True North Copper Limited has announced significant assay results from its Phase 2 drilling program at the Mt Oxide Project, extending the copper discovery strike to over 500 meters along the Aquila Trend. These results highlight the potential for a large-scale copper-cobalt-silver system, reinforcing the district-scale potential of the project and providing a framework for future exploration and development opportunities.
True North Copper Limited announced significant exploration results for the September 2025 quarter, highlighting major discoveries at the Aquila and Wallace North sites. These findings are expected to enhance resource growth and project advancement, aligning with the company’s strategy to optimize its Cloncurry Copper Project and expand the Mt Oxide resource. The company remains financially robust with A$8.2 million in cash, supporting its multi-stage growth strategy and near-term production readiness.
True North Copper has announced its Annual General Meeting (AGM) scheduled for November 27, 2025, which will be conducted virtually through an online platform powered by Automic. Shareholders are encouraged to register for an account with Automic to participate in the meeting, where they can watch, listen, and vote on proposed resolutions. This virtual format aims to ensure accessibility and engagement for all shareholders, reflecting the company’s commitment to modernizing its shareholder communication and participation processes.