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IN BRIEF: Ormonde buys stake in TRU Precious Metals for CAD3 million

6th Sep 2023 18:28

Ormonde Mining PLC - focussed on the evaluation and execution of new opportunities - Completes its investment in Toronto-listed exploration company TRU Precious Metals Corp, which is exploring for gold and copper in the highly prospective Central Newfoundland gold belt in Canada. Takes an initial 36% interest in TRU's through a private subscription for 60 million shares of TRU at CAD0.05 per share for a total CAD3 million. Ormonde has the potential to increase its shareholding to up to 46.0% through the exercise of warrants.

Current stock price: 0.60 pence

12-month change: down 18%

By Jeremy Cutler, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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