InvestSMART

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 8:22AM
Price at Release
$0.014
Full Release
download
Summary
Maverick Minerals Australia has announced the acquisition of 90% of Lyza Mining Pty Ltd from Rincon Resources Ltd. This acquisition includes eight tenements in the West Arunta region, Western Australia, believed to be rich in niobium, rare earths, and IOCG mineral deposits. Lyza Mining will complement Maverick's Viper Project. The acquisition deal includes an initial consideration of $600,000 and shares to be issued subject to shareholder approval. Conditions precedent include due diligence and regulatory approvals. A joint venture will be formed post-acquisition, with Maverick holding a 90% stake, free-carrying Rincon until a mining decision is made. Yelverton Capital Pty Ltd will receive a facilitation fee for their role in the acquisition.
Key Points
  • Maverick acquires 90% of Lyza Mining from Rincon Resources.
  • Includes eight tenements in the West Arunta region.
  • Potential for niobium, rare earths, and IOCG deposits.
  • Initial payment of $600,000 and shares issuance.
  • Requires due diligence and regulatory approvals.
  • Joint venture with Maverick at 90% and Rincon at 10%.
  • Yelverton Capital to receive a facilitation fee.
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.