- Renegade Exploration has been thoroughly engaged in the acquisition and divestment of interest in different projects.
- RNX has acquired the interest of Sovereign Metals in the CJV and now holds around 23% interest in the JV.
- RNX has inked an agreement with STK as an opportunity to consolidate its Yandal East Gold Project.
Renegade Exploration Limited (ASX:RNX) operates with an aim to emerge into a mid-tier resource company through engaging in the identification of mineral deposits and further acquiring and developing the same.
In line with its strategy, the Company has fast-tracked its progress and engaged in several key developments.
Acquisition of CJV interest
As an Australia-based minerals explorer and developer, RNX engages in discovering, acquiring, and developing economic mineral deposits across Australia. RNX holds notable interest in prolific land assets, the latest being the acquisition of 23% interest in the Carpentaria Joint Venture (CJV) in December 2020.
RNX and the operating partner Mt Isa Mines Limited, a subsidiary of Glencore plc, hold interest in CJV.
Source: RNX Website
Importance of CJV
The CJV is placed in a prolific region of Queensland and indicates numerous exciting prospects, which warrants additional work to establish economic viability, especially the Mongoose prospect.
RNX has been contributing to the CJV since the acquisition of its interest and is engaged in figuring out a way to undertake additional exploration at selected prospects that have been discovered to date.
Consolidation of Yandal East
Recently, RNX had also inked an agreement with Strickland Metals Limited (ASX:STK) as an opportunity to consolidate its Yandal East Gold Project tenement portfolio with STK’s tenements which include several existing gold deposits.
Source: RNX Website
Moreover, a significant part of its expenditure has been recovered by RNX and holds substantial exposure and leverage to upcoming success through its major shareholding in STK and the Net Smelter Royalty (NSR).
All in all, RNX aims to deliver long-term value for its shareholder while evolving into a mid-tier resource player. All eyes remain on further developments of the Company as it continues to engage in finding, procuring and developing mineral deposits.
RNX stock was noted at AU$ 0.008, up by 14.285% on 27 September 2021.