Hard to figure this one.
On the one side their South Telfar tenement looks compelling with good historical drill results.
However, management agreed to sell everything to ASX:ARV for a total cash and script of $2.7m, and this was only in mid-2019.
Furthermore, from the IPO prospectus, the South Telfar tenement was acquired Mr John Williams for a total of $306,684 if February 2019 (refer to page 22 and 23 of the IPO prospectus).
Do Your Own Research. This is not an advice.
IPO - Rincon Resources Limited - 10 December 2020 #, page-13
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