Rincon Resources Limited – 16.5% Shareholding via A$250,000 equity investment, A$100,000 investment via Convertible Loan Agreement and A$800,000 investment in the Initial Public offering (December 2020).
Rincon is a Western Australian (“WA”) focused gold and base metals exploration company. It holds the rights to three highly prospective projects in WA, with a main focus on the South Telfer Project, covering 50,000-hectares in Paterson province.
The South Telfer Project is approximately 12km south of Newcrest Mining Limited (ASX:NCM) Telfer mine which has produced 27 million ounces of gold since it began operations in 1977.
Newcrest Mining Limited & Greatland Gold (GGP.LN) recent Havieron discovery is located in the same Paterson province in WA.