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Rincon Resources Limited (ASX:RCR)

ALERT: Price-sensitive ASX Announcement for RCR
Current share price for RCR : $0.014 -0.002 (-12.50%)+
Announcement
Release
30 Apr 2026 9:06AM
Price at Release
$0.016
Full Release
download
Summary
Rincon Resources Limited provided a comprehensive quarterly report ending 31 March 2026, highlighting its financial and project developments. The company reported a cash balance of $2.216 million, with net cash used in operating activities of $133,000. Exploration expenditure was $334,000, focused on the South Telfer Project. Rincon raised $3.1 million for exploration activities and entered an agreement to sell Laverton assets to Galleon Metals Limited for $500,000 in shares. The Telfer South project showed promising high-grade gold and copper results, particularly in the Hasties Zone, which extends over 1.1 km, indicating significant mineral potential.
Key Points
  • Rincon Resources Limited reported a cash balance of $2.216 million at the end of the quarter.
  • The net cash used in operating activities was $133,000 for the current quarter.
  • Total exploration expenditure for the quarter amounted to $334,000 primarily related to the South Telfer Project.
  • The company successfully raised $3.1 million through a placement to sophisticated and professional investors.
  • A binding agreement with Galleon Metals Limited was reached for the sale of Laverton assets, expected to yield $500,000 in shares.
  • Rincon holds 100% ownership of the Telfer South, Crackerbox, and Monument projects.
  • Historic rock-chip samples indicate high-grade gold and copper zones in the Telfer South project.
  • The Hasties Zone extends over 1.1 km and remains open in both directions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.