Companies / TNC

TRUE NORTH COPPER LIMITED

ASX:TNCMaterials
155.4M shares on issueASX (delayed) · as of 28 July 2026$0.39price · delayed$60.6Mmarket cap · indicative
B
Dilution grade

Share count grew 34% in 24 months; 2 cash raises in 24 months

Cash runway8.4 quarters of funding
Share-count growth (24m)34.4%
Raise cadence (24m)2 cash raises
Options & rights overhang0.6% of sharesconsolidation-adjusted
In-the-money supply0.0% of sharesconsolidation-adjusted
Pending proposed issuesnone

TRUE NORTH COPPER LIMITED's ordinary share count grew 34.4% between June 2024 and June 2026 to 155M shares; the share-count figure is adjusted for an approximately 1-for-7.6 share consolidation completed in November 2024. The company raised capital twice in the 24-month window for total proceeds of A$65.9M, most recently a A$12.5M placement in December 2025. Options and rights could convert into 904,705 new shares, equal to 0.6% of the current share count, with none in the money and the nearest expiry in November 2027; these option figures are consolidation-adjusted. At the March 2026 quarter the company reported A$10.6M in cash, covering 8.4 quarters. No proposed securities issues (Appendix 3B) are pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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0.6%
Max option dilution
0.0%
ITM option dilution
1
Raises · last 12 months
8.4 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-7.6 consolidation (25 Nov 2024). Latest count 155.4M per ASX (delayed) (28 July 2026).
133.3M141.4M149.5MJan 25Oct 25July 26Cash raise · 3 Dec 2025

Cash runway

8.4 qtrs
More than four quarters of funding at the recent spend rate.
$10.6M available cash at quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
18 June 20262A · quoted issueTNC : ORDINARY FULLY PAID155.4MAppendix 2A
18 June 20263G · unquotedTNC : ORDINARY FULLY PAID152.4MAppendix 3G
4 Feb 20262A · quoted issueTNC : ORDINARY FULLY PAID152.4MAppendix 2A
4 Feb 20263H · cancellationTNC : ORDINARY FULLY PAID144.8MAppendix 3H
4 Jan 20263H · cancellationTNC : ORDINARY FULLY PAID144.8MAppendix 3H
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

2 cash raises in the last 24 months · 1 in the last 12 months

$12.5M
Placement
3 Dec 2025 COMPLETE
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

consolidation-adjusted Figures rebased for the share consolidation in the last 24 months.

0.6%
Total overhang · of current shares
0.0%
In the money · at current price
905k
Potential new shares
Nov 2027
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
5 Feb 2026Paul CroninBuy2.0M——3Y notice
31 Dec 2025Paul CroninSell—5.0M—3Y notice
27 Nov 2025Andrew MooneyOther———3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

27 July 2026$PHigh-Grade Drilling Confirms Broad Copper System at Mt Oxide
22 July 2026TNC Noosa Investor Presentation - July 2026
19 July 2026$PTNC divests Bundarra Copper Project and retains upside
16 July 2026AusIMM Talk - Mt Oxide Discovery to Development
7 July 2026TNC strengthens leadership as drilling advances Aquila
1 July 2026$PTNC hits 25m @ 4.2% CuEq in new Wallace North structure
23 June 2026Cloncurry PFS Advances with Scale and Integration Upside
23 June 2026Change in substantial holding
18 June 2026Cleansing Notice
18 June 2026Notification regarding unquoted securities - TNC
18 June 2026Application for quotation of securities - TNC
17 June 2026$PTNC Consolidates Mongoose into the Cloncurry Copper Project
1 June 2026$PGreat Australia RC Results Support Cloncurry Development
18 May 2026$PGeophysics extends Aquila discovery
11 May 2026Cloncurry drilling completed for 2026 PFS
29 Apr 2026TNC Investor Webinar
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
27 Apr 2026Mt Oxide drilling commences to expand Aquila Discovery
21 Apr 2026Commencement of Geophysics Program to Extend Aquila
20 Apr 2026Proposed issue of securities - TNC

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.