Hmmm. ' Chalcocite ' and a line of Numerous Faults being ' Brecciated ' with a
SECOND fault system potentially precipitating a ' supergene ' copper enriched body from a ' Hematite heavily carbonated rich ridge ....all used in the same breadth of this announcement.....
I mean could they have used any more significant geological ' Buzz ' words together without saying they might even have what looks to be a ' Mini ' Olympic Dam styled IOCG system supported by the string of both past producing and in close proximity connected Pit systems. Who knows , if they're lucky maybe even some accompanying Rare Earths might be up for grabs....but I'll settle for a mini Olympic Dam any day of the week.
No wonder they wanted to ' excise ' this tenement from their current JV with Glencore and perhaps paint the picture of them going it alone to attract more attention from say TNC ( True North Copper - formerly DEX Duke Energy ) , who commences trading on the ASX after much restructuring and of course the acquisition of the RNX nearby past producing Great Australian , Taipan , and Paddock Load Mines.
I wonder if it's merely a coincidence that RNX releases this announcement today ....., the same day as TNC is about to show the Market what this assembly of assorted Copper assets are worth.
Interesting that Comet Resources ( CRL ) shelved its Mount Margaret Copper Project leaving Glencore and its subsidiary Mt Isa Mines off the hood for some A$27 odd million investment including loans and a 10% interest in that resurrection plan.
Mighten , or could we see a similar plan hat hatched with RNX to compliment the push for these assets , and is this why they ( RNX ) don't seem all that fussed about pushing this so far much anticipated capital raising they will need to advance these projects.
Will it be 1.0 cents like I had mentioned , or will they wait until they announce perhaps further lending plans terms and financial backing with Glencore. Could this or is this project now better set up to be ' spun out ' as a separate stand alone listing , and if so does it or will it attract more attention from a JV or even takeover perspective once TNC settles down and finds its own valuation level.
Interesting times indeed here.......
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