4 questions lodged at 2026 True North Copper (TNC) virtual EGM
February 3, 2026
Below is the text of the 4 written questions submitted at the True North Copper (TNC) 10am Brisbane time virtual EGM via Automic on January 30, 2026 to approve capital raising. See notice of meeting. Market cap $86m on EGM day after a better year. See notice of meeting and voting results with no protest votes. The proxies were not disclosed early in the formal addresses. They ran a virtual AGM in November 2025 where extra placement capacity was approved and biggest protest was 7.56% against director Paul Cronin. The latest annual report shows it has 2,205 shareholders, $91m in accumulated losses and net assets of $74m.
Q1. Why weren't retail shareholders offered an opportunity to participate in the capital raising on the same terms as Tembo is being granted stock by this resolution? Will the board consider offering an SPP to retail investors before this year's AGM to make up for the dilution we have suffered from the recent placement which included multiple insiders and major shareholders but not the ordinary retail shareholders?
Answer: The chair... Watch video of exchange via Twitter.
Q2. Why didn't Glencore participate in the placement given their existing holding and strategic placement. Are they currently in a state of strategic flux given the Rio Tinto merger negotiation and do we have any concerns about this merger proposal? What are the implications for us if it goes ahead and who are the main people we deal with at Glencore?
Answer: The chair... Watch video of exchange via Twitter.
Q3. It's good that relatively new chair Paul Cronin is buying more shares but how important is True North Copper in his overall portfolio? Does his Gold Coast based fund also own our shares and has he sold down his position in Dundee Precious Metals to free up capital for other investments like in our company. Is he looking to add to his TNC position even after this placement grant is approved?
Answer: The chair... Watch video of exchange via Twitter.
Q4. Why did the webcast require separate registration rather than the usual Automic process whereby shareholders are automatically registered through their system? Will a copy of the webcast be made available for those shareholders unable to tune in live?
Answer: The chair... Watch video of exchange via Twitter.
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