- Renegade Exploration Limited share price has rallied 300% in the past year.
- RNX has made notable progress and has successfully evolved into a lean and flexible organisation.
- RNX remained focused on developing a better understanding of the Yandal East district and had shared its intention to sell the Yukon Base Metal Project.
- The Company is closely reviewing and assessing fresh business opportunities within the gold sector and seeking to add value via acquisition and development.
Minerals explorer and developer Renegade Exploration Limited (ASX:RNX) focuses on achieving growth through identification, acquisition and development of economic mineral deposits by making use of modern and innovative thinking.
Over the past year till 20 November 2020, RNX share price has increased by a whopping 300%. The stock has a 52-weeks high price of $0.009.
Evolving Into A Lean And Flexible Organisation
The Company has progressed significantly over the past year, and it reflects in its stock performance. Over the period, RNX has successfully evolved into a lean and flexible organisation that has successfully reduced exploration costs and has been at the forefront to respond to new global opportunities.
RNX’s approach towards managing its costs is aligned with the projects it holds and the requirements of these projects like management or exploration funds.
In the short term, RNX’s aims to uncover further resources by way of aggressive exploration of highly prospective targets and identifying and capturing fresh value accretive opportunities.
Significant Intersections Returned At Ward Prospect
Earlier, RNX had shared its plans to undertake detailed gravity across the tenement package. This was expected to begin in September 2020 and was intended at follow up drilling on the basis of projected targets defined by the work.
In addition to this, the Company has been keen towards developing better understanding of the Yandal East district through the development of its geological database and geological models. For this purpose, RNX has engaged well-qualified experts in the field of geological structuring and geological modelling.
Results from the maiden RC drilling program at the Ward prospect returned significant intersections, including:
This program has been completed, and interpretation is also nearing completion through review of primary data that highlighted new structures and identified drill targets. RNX anticipates generating meaningful insights for a better understanding of the geological setting and drilling targets by employing modern exploration techniques.
Agreement for Potential Sale of Yukon Project
For the potential sale of Yukon Project, RNX has inked a Letter of Intent with Scharfe Holdings Inc., where Scharfe was allowed a period of exclusivity until 30 October 2020 to undertake due diligence. During the same time, negotiations for the Share Purchase Yukon Project Agreement to acquire Overland Resources Yukon Limited, RNX’s Canadian subsidiary was also granted by RNX.
The latest update is awaited from the Company regarding the potential sale of the Yukon Project.
Extensively Experienced Management Team
On top of all this, RNX has a management team with extensive experience in the global resource industry. The skilled leadership team at RNX targets exploration areas that have seen very less exploration (underexplored) through modern techniques. The combination of technical, commercial, and corporate knowledge of the team is expected to direct the Company towards achieving its objectives.
Moreover, RNX remains engaged in the reviewing and assessing fresh business opportunities predominantly within the gold sector while seeking to add value through organic development or acquisition.
All in all, RNX aims to generate long-term shareholder value by quickly evolving into a mid-tier resource company by staying committed to its strategy. The Company looks suitably funded at the end of September quarter, having completed a capital raising worth $750,000.
On 20 November 2020, RNX share price quoted at $0.008 with a market capitalisation of $6.90 million.
*All financials are in AUD, unless specified