True North Copper Ltd
True North Copper Limited engages in mineral exploration and development activities in Australia. The company primarily explores for copper, cobalt, gold, and silver deposits. It holds 100% interests in the Cloncurry project located near Cloncurry, Northwest Queensland; and Mount Oxide project located in North-West Queensland, as well as the Bundarra project located in Central Queensland. The com… Read more
True North Copper Ltd (TNC) - Net Assets
Latest net assets as of June 2025: AU$74.08 Million AUD
Based on the latest financial reports, True North Copper Ltd (TNC) has net assets worth AU$74.08 Million AUD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$98.69 Million) and total liabilities (AU$24.61 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$74.08 Million |
| % of Total Assets | 75.07% |
| Annual Growth Rate | 104.53% |
| 5-Year Change | 369.18% |
| 10-Year Change | N/A |
| Growth Volatility | 307.74 |
True North Copper Ltd - Net Assets Trend (2019–2025)
This chart illustrates how True North Copper Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for True North Copper Ltd (2019–2025)
The table below shows the annual net assets of True North Copper Ltd from 2019 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$74.08 Million | +62.99% |
| 2024-06-30 | AU$45.45 Million | +53.76% |
| 2023-06-30 | AU$29.56 Million | +63.76% |
| 2022-06-30 | AU$18.05 Million | +14.32% |
| 2021-06-30 | AU$15.79 Million | +60.10% |
| 2020-06-30 | AU$9.86 Million | +875.46% |
| 2019-06-30 | AU$1.01 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to True North Copper Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 9078457700.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$161.53 Million | 218.05% |
| Other Comprehensive Income | AU$3.79 Million | 5.11% |
| Total Equity | AU$74.08 Million | 100.00% |
True North Copper Ltd Competitors by Market Cap
The table below lists competitors of True North Copper Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Alphaville S.A
SA:AVLL3
|
$14.14 Million |
|
Hamilton Global Opportunities PLC
PA:ALHGO
|
$14.14 Million |
|
Reliance Home Finance Limited
NSE:RHFL
|
$14.14 Million |
|
Equital
TA:EQTL
|
$14.14 Million |
|
Desert Mountain Energy Corp
OTCQX:DMEHF
|
$14.14 Million |
|
Chiu Ting Machinery Co Ltd
TW:1539
|
$14.13 Million |
|
Future Retail Limited
NSE:FRETAIL
|
$14.13 Million |
|
Versatile Creative Bhd
KLSE:4995
|
$14.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in True North Copper Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 45,451,052 to 74,082,000, a change of 28,630,948 (63.0%).
- Net loss of 28,422,000 reduced equity.
- Share repurchases of 53,139,000 reduced equity.
- Other comprehensive income increased equity by 868,156.
- Other factors increased equity by 109,323,792.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$-28.42 Million | -38.37% |
| Share Repurchases | AU$53.14 Million | -71.73% |
| Other Comprehensive Income | AU$868.16K | +1.17% |
| Other Changes | AU$109.32 Million | +147.57% |
| Total Change | AU$- | 62.99% |
Book Value vs Market Value Analysis
This analysis compares True North Copper Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.35x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.14x to 0.35x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-06-30 | AU$2.81 | AU$0.38 | x |
| 2020-06-30 | AU$0.11 | AU$0.38 | x |
| 2021-06-30 | AU$51.32 | AU$0.38 | x |
| 2022-06-30 | AU$35.80 | AU$0.38 | x |
| 2023-06-30 | AU$14.72 | AU$0.38 | x |
| 2024-06-30 | AU$8.11 | AU$0.38 | x |
| 2025-06-30 | AU$1.08 | AU$0.38 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently True North Copper Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -38.37%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -4273.98%
- • Asset Turnover: 0.01x
- • Equity Multiplier: 1.33x
- Recent ROE (-38.37%) is above the historical average (-45.37%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -8.70% | 0.00% | 0.00x | 1.07x | AU$-2.95 Million |
| 2022 | -9.50% | 0.00% | 0.00x | 1.04x | AU$-3.52 Million |
| 2023 | -115.18% | -2275.19% | 0.02x | 2.55x | AU$-37.00 Million |
| 2024 | -55.13% | -1050.06% | 0.02x | 2.46x | AU$-29.60 Million |
| 2025 | -38.37% | -4273.98% | 0.01x | 1.33x | AU$-35.83 Million |
Industry Comparison
This section compares True North Copper Ltd's net assets metrics with peer companies in the Copper industry.
Industry Context
- Industry: Copper
- Average net assets among peers: $39,872,798
- Average return on equity (ROE) among peers: -6.31%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| True North Copper Ltd (TNC) | AU$74.08 Million | -8.70% | 0.33x | $14.14 Million |
| Alma Metals Ltd (ALM) | $12.51 Million | -39.25% | 0.02x | $9.87 Million |
| Austral Resources Australia Ltd (AR1) | $901.74K | 355.70% | 0.11x | $12.69 Million |
| Castillo Copper Ltd (CCZ) | $3.03 Million | -58.54% | 0.10x | $9.90 Million |
| Culpeo Minerals Ltd (CPO) | $-601.52K | 0.00% | 0.00x | $1.83 Million |
| Copper Strike Ltd (CSE) | $19.10 Million | -6.32% | 0.02x | $4.95 Million |
| Caravel Minerals Ltd (CVV) | $4.60 Million | -139.17% | 0.20x | $89.58 Million |
| Greenx Metals Ltd (GRX) | $11.81 Million | -30.96% | 0.33x | $115.59 Million |
| Hot Chili Ltd (HCH) | $79.08 Million | -10.89% | 0.17x | $111.71 Million |
| MAC Copper Ltd (MAC) | $268.03 Million | -53.93% | 3.87x | $943.30 Million |
| Noronex Ltd (NRX) | $260.73K | -79.78% | 0.02x | $2.26 Million |