True North Copper Limited (ASX: TNC) has been placed in a trading halt by the Australian Securities Exchange (ASX).
The halt came into effect on Wednesday, 17 June 2020, following an announcement by the company underlying the request. The company noted that “the Directors intend to make a further announcement to the ASX in due course” and that “the trading halt facilitates that process”.
The company doesn’t provided any further details in its announcement to the market but noted that the trading halt may be extended beyond the date specified if permitted by the ASX.
This is not the first trading halt for True North Copper Limited. The company has previously been placed in a trading halt in December 2018 following an announcement of a capital raising. The company asked investors to provide capital to fund a reorganisation of the existing financial commitment.
True North Copper Limited is an Australian resources company engaged in the exploration and development of base metals in Australia. The company’s current activities include exploration of zinc, lead, and copper in the Mt Isa region and exploration of cobalt, nickel, and copper in the Cloncurry region.
The current trading hiatus will continue until further notice is given by the company or the ASX. Investors and other interested parties are encouraged to stay updated with any new announcements from the company.
In the mean time, the share price of True North Copper Limited will remain under a trading halt and will not be able to be traded. It is advised that investors exercise caution when considering trading in the company’s shares.
