STTCOMP RNX FA LONG
Renegade Exploration (QLD... copper)
MC $23M
SP 2.1 cents
With thanks to @Bomber78 who brought this to the forum ( https://hotcopper.com.au/posts/73838694/single )
RNX raised @ 1 cent several weeks ago to fund a deep DD hole into their Mongoose prospect. The SP has already doubled since but it has a good look about it and if the hole is successful this is a good gamble.
The CR was the first one they have done in 3 1/2 years. A lot of preparation has gone into determining where they are going to drill. The prospect is a large gravity/magnetic anomaly which is surrounded by copper deposits and mines. The potential is the prospect is the feeder for the whole area. If so it will be a major tier1 discovery.
These are the 2 relevant announcements
https://announcements.asx.com.au/asxpdf/20240509/pdf/063dqcx3sxbgdw.pdf
https://announcements.asx.com.au/asxpdf/20240514/pdf/063k0b810kvlf5.pdf
