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  5. IN BRIEF: Ormonde Mining acquires stake in Canadian miner TRU

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IN BRIEF: Ormonde Mining acquires stake in Canadian miner TRU

Fri, 30th Jun 2023 21:45

Ormonde Mining PLC - focussed on the evaluation and execution of new opportunities, currently holds 20% stake in battery metals explorer Peak Nickel Ltd - Announces proposed investment in Toronto-listed exploration company, TRU Precious Metals Corp. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada. Ormonde is to buy an initial 36.2% interest in TRU through a private subscription for 60 million shares of TRU at CAD0.05 per share for a total consideration of CAD3 million. Potential to increase shareholding to up to 46.0% through the exercise of warrants.

Current stock price: 0.75 pence

12-month change: down 99%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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