RCR rincon resources limited

Hi All,Had a look at this company and it does look interesting....

  1. 1,426 Posts.
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    Hi All,

    Had a look at this company and it does look interesting. I was considering looking closely at the prospectus and looked at some of the mapping.
    Nearby strikes look interesting by established miners as well as the proximity of one of their tenements to Mt Weld.

    I have concerns about the executive chairman Mr Geoff McNamara, who in the documents looks like a previous successful chairman - though his working history has been carefully filtered through to show successes.

    One of his last held positions was on the BOD of Alita Resources, a failed lithium miner. There have been serious concerns by shareholders about how the company was placed into voluntary administration as a result of outstanding debts with breached covenants - without consultation or attempt to seek further capital from shareholders. The company was then attempted to be sold to a shell company in the cayman islands for 10% of its' previous assumed value. These are facts.

    As someone that lost money with Alita, I will be hesitant (not outright avoiding) investing with RCR while a director on my gray list is on there. Geoff in what I can tell was not linked directly to acts against shareholders of Alita (ASX:A40) (unlike other directors of that business) so he makes my "grey" list of directors rather than the black list. My concern is that the executive chairman has a checkered past and this has deliberately been glazed over in this corporate presentation.
 
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(20min delay)
Last
1.4¢
Change
-0.002(12.5%)
Mkt cap ! $4.095M
Open High Low Value Volume
1.5¢ 1.5¢ 1.4¢ $13.77K 940.7K

Buyers (Bids)

No. Vol. Price($)
2 930466 1.4¢
 

Sellers (Offers)

Price($) Vol. No.
1.5¢ 143000 1
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Last trade - 15.59pm 28/07/2025 (20 minute delay) ?
RCR (ASX) Chart
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