Top Page
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 | TTM | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 665.00K | 665.00K | 2.39M | 1.50M |
| Gross Profit | -12.49M | -14.11M | 497.59K | 1.18M |
| EBITDA | -13.17M | -17.85M | -21.53M | -33.80M |
| Net Income | -25.06M | -28.42M | -25.06M | -34.05M |
Balance Sheet | ||||
| Total Assets | 101.09M | 98.69M | 111.69M | 75.30M |
| Cash, Cash Equivalents and Short-Term Investments | 19.12M | 12.81M | 15.48M | 3.49M |
| Total Debt | 0.00 | 0.00 | 25.79M | 406.21K |
| Total Liabilities | 24.41M | 24.61M | 66.24M | 45.74M |
| Stockholders Equity | 76.68M | 74.08M | 45.45M | 29.56M |
Cash Flow | ||||
| Free Cash Flow | -15.61M | -19.55M | -34.82M | -45.14M |
| Operating Cash Flow | -15.50M | -19.43M | 0.00 | 0.00 |
| Investing Cash Flow | -2.97M | -5.35M | -28.37M | -38.16M |
| Financing Cash Flow | 22.11M | 22.11M | 64.22M | 46.90M |
True North Copper Peers Comparison
True North Copper Corporate Events
True North Copper has reported an updated JORC 2012 mineral resource estimate for its Cloncurry Copper Project in northwest Queensland, driven by advanced grade control drilling, recent exploration and refined geological modelling. The overall project resource has increased by about 7% to roughly 109,000 tonnes of contained copper and 9% to 84,000 ounces of contained gold, with a notable 13.5% tonnage rise at the Great Australia deposit and higher confidence in the largely indicated Taipan resource.
The upgraded resource base provides a stronger technical foundation for ongoing pre-feasibility study work in 2026, including assessment of development options and underground potential. Management highlights a clear pathway for further growth, with additional drilling planned to test extensions of existing deposits, evaluate near-mine and regional targets, and gather more metallurgical and geotechnical data, which could enhance the project’s economic case and future production profile.
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.
Director Paul Cronin increased his holding by 2 million shares, split between his own account and Admiralty Resources Fund, via participation in a shareholder-approved placement priced at A$0.50 per share, lifting his stake to 4.19 million shares and demonstrating insider support for the company’s capital-raising strategy.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.57 price target. To see the full list of analyst forecasts on True North Copper stock, see the AU:TNC Stock Forecast page.
The Australian-listed miner True North Copper operates in the copper mining sector, focusing on exploration and development assets to supply the resources market. The company has lodged an Appendix 2A application to quote 7.6 million new fully paid ordinary shares on the ASX, expanding its listed capital base and signalling continued execution of previously flagged financing initiatives that could support project funding and investor liquidity.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.57 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 market that a tranche of its listed options has been cancelled by agreement with the holder, resulting in a small adjustment to its issued capital structure. The company reported that 92,000 TNCAJ options, which were due to expire in June 2028 with an exercise price of $30.00, ceased to exist effective 31 January 2026, a move that marginally simplifies its capital base and may slightly reduce potential future dilution for existing shareholders.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.59 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 reported that all resolutions put to shareholders at its 30 January 2026 Extraordinary General Meeting were passed by poll, with strong levels of support recorded across the register. The approvals cover Tembo’s participation in a share placement, director Paul Cronin’s participation in the same capital raising, and the ratification of both tranche one and tranche two placement share issues, collectively endorsing the company’s recent equity funding activities and reinforcing shareholder backing for its current capital and growth plans.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.62 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 has updated the Mineral Resource Estimate for its Wallace North copper-gold deposit within the Cloncurry Copper Project in Northwest Queensland, incorporating additional 2025 drilling and depletion from minor 2024 mining. The revised estimate shows net resource growth despite depletion, with tonnage up about 12%, contained copper up 9% and contained gold up 11%, while grades and geometry remain consistent, providing a more robust technical baseline for the ongoing Pre-Feasibility Study, future development planning and targeted drilling to test underground and resource extension potential, alongside an expected resource update for the nearby Great Australia Mine in early 2026.
The most recent analyst rating on (AU:TNC) stock is a Hold with a A$0.60 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 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.