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Rincon Resources Ltd. ( (AU:RCR) ) has provided an announcement.
Rincon Resources has entered a multi-stage farm-in and joint-venture agreement with Greatland Resources over a large portion of its Telfer South tenements, allowing Greatland to earn up to 75% by funding up to $4 million in exploration and ultimately a decision to mine, with any resulting ore to be toll-processed at Greatland’s nearby Telfer plant. Separately, Rincon continues to advance its wholly owned Hasties Main and Hasties SE gold-copper deposits, where recent drilling returned multiple high-grade gold and copper intersections, extending near-surface mineralisation by about 150 metres along strike, increasing confidence in the continuity of the deposit, and supporting plans to grow the mineral resource estimate while progressing the Hasties SE area from prospecting to a mining lease, which together enhance the company’s development options and strategic positioning in the Telfer district.
The most recent analyst rating on (AU:RCR) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Rincon Resources Ltd. stock, see the AU:RCR Stock Forecast page.
More about Rincon Resources Ltd.
Rincon Resources Ltd is an Australian mineral exploration company focused on gold and copper projects, particularly in the Telfer region of Western Australia. Its portfolio includes the Telfer South Project and the 100%-owned Hasties gold-copper deposits, located close to Greatland Resources’ producing Telfer mine, positioning Rincon to leverage existing regional processing infrastructure and exploration synergies.
Average Trading Volume: 1,468,016
Technical Sentiment Signal: Hold
Current Market Cap: A$5.36M
For a thorough assessment of RCR stock, go to TipRanks’ Stock Analysis page.