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Renegade Exploration (ASX:RNX) Delivers 250% Growth By Strategising Efforts

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Summary

  • Renegade Exploration Limited has been progressing across its project portfolio in line with its strategy.
  • The RXN stock has delivered significantly high returns to its shareholders during the last one year through consistent efforts to advance its projects.
  • The Company undertook major exploration activities at its Yandal East Project and now looks to acquire an interest in CJV.

Minerals explorer and developer Renegade Exploration Limited (ASX:RNX) envisions emerging into a mid-tier resource company that can generate long-term shareholder value. For this purpose, the Company strategises to discover, acquire and develop economic mineral deposits utilising modern and innovative thinking.

In line with its strategy to deliver shareholder value, the Company has been progressing its exploration, acquisition as well as development activities on the ground to generate shareholder value.

Interesting Read: Back to Back Acquisition Agreements Fuelling ASX:RNX’s Evolution Into Mid-Tier Resource Company

Significantly, RNX stock has delivered whopping 250% returns to its shareholders in the last one year till 04 March 2021. The major uptick in the stock price over the year as a result of numerous key developments of the Company aligning with its strategy.

During the past year, RNX has come a long way, navigating strongly through tough times amid financial market downturns due to uncertainty and disruption surrounding COVID-19. The uncertainty has had a notable impact on the financial markets around the globe, turning them topsy turvy.

Important discussion at: ASX:RNX Executes Share Purchase Agreement For Sale of Yukon Project

However, RNX continued to remain on track with its activities, including drilling at the Yandal East Project, agreement to sell the Yukon Base Metal Project, airborne magnetic survey at the Yandal Project and an agreement to acquire joint venture interest in the Carpentaria Joint Venture (CJV) Agreement.

The Company’s RC drilling program at the Yandal East Gold Project focused on identifying primary mineralisation in fresh rock at the Ward prospect. The Company also intended to commence its programs which were delayed due to weather and COVID-19 movement restrictions.

Ward Prospect at Yandal East Project (Source: ASX Announcement 26 November 2020)

September Quarter Update: ASX:RNX Speeding up Exploration at Yandal East Project, Reports September Quarter Full of All Round Progress

Later, RNX successfully concluded the inaugural RC drilling program and received significant intersections, some of which included the following:

Did you read: ASX:RNX Unlocking Potential in Major Gold Province While Seeking Fresh Opportunities

Subsequent to this drilling program, RNX also had several other exploration activities planned at the project, including a gravity survey that was aimed at developing its geological modelling for the project.

In other key development, RNX has inked a letter of Intent for the sale of Yukon Base Metal Project and signed another agreement to acquire interest in the CJV.

Detailed discussion at: ASX:RNX To Acquire ASX:SMV’s Share in Attractive Carpentaria JVA

Overall, the Company’s approach to acquiring and developing mineral assets seems to generate significant value for the Company as well as its shareholders.

On 04 March 2021, RNX stock settled at $0.006 with a market capitalisation of $6.05 million.

*All financials in AUD, unless specified.

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