True North Copper Taps Andrew Mooney to Drive Next Growth Phase
True North Copper has appointed Andrew Mooney as Managing Director, signaling a strategic shift towards advanced exploration and project development in Queensland.
- Andrew Mooney appointed Managing Director and CEO, effective immediately
- Leadership transition marks shift from consolidation to active exploration and development
- Mooney brings 20+ years of mining leadership experience from major companies
- Focus on advancing Mount Oxide and Cloncurry Copper Projects
- Performance rights linked to share price milestones proposed for Mooney
Leadership Transition at True North Copper
True North Copper Limited (ASX – TNC) has announced a significant leadership change with the appointment of Andrew Mooney as Managing Director and CEO, effective immediately. Mooney succeeds Bevan Jones, who stepped down after successfully guiding the company through a critical recapitalisation and an intensive exploration phase. This transition reflects True North’s evolution from a period of consolidation to a more dynamic stage focused on resource expansion and project development.
A Proven Leader for Growth
Andrew Mooney brings over two decades of experience in the mining sector, having held senior roles at industry heavyweights such as OZ Minerals, BHP, and MMG Limited. His track record includes delivering material growth across multiple assets, making him well-suited to lead True North’s ambitious plans. Mooney’s academic credentials; spanning mining engineering, applied geology, mineral economics, and business administration; complement his operational expertise.
Strategic Focus on Queensland Projects
Under Mooney’s leadership, True North aims to accelerate the drill-out and development of its flagship Mount Oxide project and expedite the restart assessment of the expanded Cloncurry Copper Project. Additionally, the company plans to leverage its extensive Queensland portfolio to explore new greenfield opportunities. These initiatives are designed to generate growth across both near-term exploration results and longer-term production prospects.
Incentives Aligned with Shareholder Value
Mooney’s remuneration package includes a $350,000 annual salary plus superannuation, with eligibility for short-term and long-term incentive programs. Notably, the company proposes granting him one million performance rights, contingent on the company’s share price reaching specified milestones of $0.75 and $1.00 for 20 consecutive trading days. This structure aligns executive rewards with shareholder returns and market confidence.
Looking Ahead
Chairman Paul Cronin expressed confidence that Mooney’s appointment positions True North to capitalize on its recent momentum and deliver sustainable growth. The board also extended its gratitude to outgoing Managing Director Bevan Jones for his leadership during a transformative period. As True North embarks on this next chapter, investors will be watching closely to see how the new leadership translates strategic intent into operational progress and market performance.
Bottom Line?
Andrew Mooney’s appointment sets the stage for True North Copper’s ambitious growth trajectory in Queensland’s copper and gold sector.
Questions in the middle?
- How quickly will Mooney’s leadership translate into tangible exploration and development milestones?
- What are the company’s near-term production targets under the new strategy?
- How might the proposed performance rights impact shareholder value and share price momentum?
