True North Copper Limited (ASX:TNC) has been placed into a trading halt with immediate effect on Wednesday 10th April 2020.
The resource-based exploration and mining company, which operates in Northern Canada, announced to the ASX that the pause in trading of its shares is in place “pending the release of an announcement regarding its share transactions”.
The latest news arrives just after True North Copper’s shares hit a new 52-week high in the last few days. With a recently increased resource estimate for its PLS Project located in Canada’s Northwest Territories, combined with the persistent surge in copper prices, True North Copper’s market operations looked to be booming.
Branding itself as a “red-metal explorer”, the mining company has risen to become one of the largest copper explorers listed on the ASX.
The company had been in the process of identifying Tier 1 scale mineral deposits in proven mining districts throughout North America. At present, its most advanced project is the PLS Project, which envisions a major resource development in the Northwest Territories of Canada.
The trading halt applies to the purchase and sale of securities in True North Copper and will remain in effect until the announcement of True North Copper’s share transaction is released.
All investors are instructed to carefully monitor the ASX announcement. If the share transactions is successful, then True North Copper Limited could be set to rapidly benefit from the increase in copper prices global markets are witnessing right now.
It will be interesting to see how the company’s share price is affected depending on the outcome of the transactions. All that is left to do is wait until True North Copper’s plans are publicly revealed.
True North Copper Limited (ASX:TNC) has been placed into a trading halt with immediate effect on Wednesday 10th April 2020.
The resource-based exploration and mining company, which operates in Northern Canada, announced to the ASX that the pause in trading of its shares is in place “pending the release of an announcement regarding its share transactions”.
The latest news arrives just after True North Copper’s shares hit a new 52-week high in the last few days. With a recently increased resource estimate for its PLS Project located in Canada’s Northwest Territories, combined with the persistent surge in copper prices, True North Copper’s market operations looked to be booming.
Branding itself as a “red-metal explorer”, the mining company has risen to become one of the largest copper explorers listed on the ASX.
The company had been in the process of identifying Tier 1 scale mineral deposits in proven mining districts throughout North America. At present, its most advanced project is the PLS Project, which envisions a major resource development in the Northwest Territories of Canada.
The trading halt applies to the purchase and sale of securities in True North Copper and will remain in effect until the announcement of True North Copper’s share transaction is released.
All investors are instructed to carefully monitor the ASX announcement. If the share transactions is successful, then True North Copper Limited could be set to rapidly benefit from the increase in copper prices global markets are witnessing right now.
It will be interesting to see how the company’s share price is affected depending on the outcome of the transactions. All that is left to do is wait until True North Copper’s plans are publicly revealed.
