In terms of government assistance via the $300,000 CEI grant, it appears the department awards grants once per year. But given the upside of a major discovery then additional public money could find its way to assist further exploration.
During Round 2 (Feb 2018), Capricorn Copper Pty Ltd received money for drilling, lithogeochemistry & petrology. So it could be possible.
Round 7, was March 2023. In Round 7, twenty-five projects from twenty-five different companies received support up to a maximum of $250,000, under the increased funding provided by the Queensland Resources Industry Development Plan, and the New Economy Minerals Initiative (NEMI).
I would expect RNX is aiming for a major capital raise upon release of comprehensive drill information to fund future drilling at Mongoose Deeps. They have stated they are conservative!!!!
The government funding alone would not be enough to fund future drilling anyway and is capped at $300k. For this amount, it can only partly drill a hole or at least help pay for assaying and any down-hole geophysics works.
Some big trades today with 26 million shares traded, one trade was 5 million at $0.014.
RNX Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
