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Renegade Exploration Limited (ASX:RNX)

ALERT: Price-sensitive ASX Announcement for RNX
Current share price for RNX : $0.002 -0.001 (-33.33%)+
Announcement
Release
20 Apr 2026 8:26AM
Price at Release
$0.003
Full Release
download
Summary
True North Copper Limited has strategically strengthened its Cloncurry Copper Project by acquiring Renegade Exploration Limited’s interests in the Carpentaria Joint Venture. This acquisition, pending a right of first refusal by Glencore’s subsidiary, aims to integrate the Mongoose Resource with TNC's Taipan deposit, enhancing the project’s scale and economics. The transaction, valued at $2.88M, involves cash, shares, and performance rights, and positions TNC to optimize project development through collaboration with Glencore and further exploration potential.
Key Points
  • Renegade Exploration Limited (RNX) is involved in a joint venture with True North Copper (TNC) for the Cloncurry Copper Project.
  • TNC has entered into a binding agreement to acquire Renegade's ~22% interest in the Carpentaria Joint Venture (CJV) and ~35% in EPM 8588.
  • The acquisition is subject to a 40-day right of first refusal by Mount Isa Mines Limited, a subsidiary of Glencore plc.
  • The Carpentaria JV includes the Mongoose Inferred Resource, which is adjacent to TNC's Taipan deposit.
  • This transaction aims to consolidate the resources at Cloncurry, optimizing the project scale and economics.
  • The transaction involves a cash value of $2.88M, including cash payment, TNC shares issuance, and performance rights to Renegade.
  • The joint venture is governed by a management committee with equal representation from the partners.
  • There is potential for further exploration and resource growth within the Cloncurry Copper 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.