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Rincon Resources Limited (ASX:RCR)

ALERT: Price-sensitive ASX Announcement for RCR
Current share price for RCR : $0.013 -0.001 (-7.14%)+
Announcement
Release
1 Jul 2026 8:24AM
Price at Release
$0.014
Full Release
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Summary
Rincon Resources Limited has signed a binding heads of agreement with Maverick Minerals Australia Limited for a joint venture on the West Arunta Project. Rincon will retain a 10% interest in the project and be free-carried until a decision to mine. The agreement involves an initial consideration of $600,000, comprising $100,000 in cash and $500,000 in Maverick shares, with additional deferred consideration of $500,000 in shares upon completion of drilling programs. This transaction enables Rincon to focus on its core projects while maintaining a stake in future exploration success at West Arunta.
Key Points
  • Binding heads of agreement signed with Maverick Minerals Australia Limited.
  • Rincon retains 10% interest and is free-carried until a decision to mine.
  • Initial consideration of $600,000 with additional deferred consideration of $500,000.
  • Focus on Telfer South Gold-Copper Project and Crackerbox Project.
  • Joint venture formed with Maverick Minerals on West Arunta Project.
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.