TNC - True North Copper

[System]

Duke Exploration is an Australian exploration company focused on the development of copper, silver and gold opportunities in Queensland and New South Wales. The Company currently has majority interests in three exploration tenements (plus two more under application) ranging from conceptual to drill-ready as well as up to a 10% free carried interest in four tenements held by listed Emmerson Resources (ERM).

Duke's key assets comprise:

• EPM 26499 – Bundarra Project (100% owned copper exploration project near Mackay, Queensland);
• EPM 26852 – Prairie Creek Project (91% owned (9% Capgold) gold exploration project near Rockhampton, Queensland); and
• EL 8568 – Red Hill Project (100% owned copper exploration project near Red Hill, New South Wales).

The highest priority target for the Company is the Mt Flora Prospect in the Bundarra Project, one of the numerous Bundarra Project's prospects, which has resource development potential for copper, silver and gold. All historic data from the mine at the Mt Flora Prospect has been checked in the field by diamond drilling and ground geophysics, which have confirmed the tenor and scale of copper, silver and gold mineralisation mined previously.

It is anticipated that DEX will list on the ASX during November 2020.

Duke Exploration

Duke Exploration Limited (ASX: DEX) is an ASX listed Australian company exploring for and developing copper and precious metals projects in Queensland and NSW.

duke-exploration.com.au

 

[Dona Ferentes]

listed on Tuesday, ..... a bit ignored for a while, then interest yesterday when presenting at Noosa (!) Mining conference and taking some off the table at EoD?

5 minute chart

 

[System]

On June 6th, 2023, Duke Exploration Limited (DEX) changed its name and ASX code to True North Copper Limited (TNC).

 

[greggles]

TNC just managed to raise $5 million from MP Materials and Mining Group Fund at 12c a share while trading at 7.2c. How did it manage to do this I hear you ask? Well I have no idea but the company said this in its announcement:

The issue price of $0.12 per Share represents a 66.67% premium to the last closing price of $0.072 prior to the Placement, demonstrating strong investor confidence in the Company’s future prospects and growth potential.

I like the sound of this and have decided to take a punt on TNC in the upcoming April stock tipping competition as I think the share price may increase in the coming weeks due to a possible surge in investor interest. A bullish copper price may also help.

 

[kenny]

I'm hoping Greggles was a month early with TNC and the finalisation of the 12c placement will coincide with more news and continued pressure on the global Copper prices and supplies. In the long term there will undoubtedly be consolidation in the sector.

The Update on Placement announcement is curious in the Company allowing an extension on the closure of the placement date to advisors, Millennium (Till 31st May). It makes me wonder what they're waiting for to occur or is it merely a case of delays in getting investor commitment?