RCR 4.76% 10.0¢ rincon resources limited

IPO - Rincon Resources Limited - 10 December 2020 #, page-13

  1. 1,477 Posts.
    lightbulb Created with Sketch. 137
    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.
 
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