Increase in Shareholding - Rincon Resources

RNS Number : 6713M

Gunsynd PLC

25 January 2021

 

Gunsynd plc

("Gunsynd" or the "Company")

Increase in Shareholding - Rincon Resources Limited 

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has invested an additional  A$149,500 (approximately  £85,000 ) in Rincon Resources Limited ("Rincon"), one of Gunsynd's existing investee companies, an ASX listed Australian gold and base metals exploration company (ASX: RCR).

This further investment in Rincon was executed via purchase of shares in the market:

· Purchase of 438,057 shares at an average price of A$0.34

· Gunsynd now holds 8,900,000 shares in Rincon representing approximately 17.34% of Rincon's issued share capital.

Hamish Harris , Gunsynd Plc Director, commented: "Gunsynd is pleased to continue to add to its existing investment in Rincon Resources. Rincon has what we believe to be a very exciting portfolio of copper/gold projects. We look forward to Rincon advancing its highly prospective projects in Western Australia."

About Rincon Resources

Rincon Resources is a Western Australian ("WA") focused gold and base metals exploration company. It currently holds the rights to three highly prospective projects in WA, the most significant of which, South Telfer, a 50,000-hectare project in the Paterson province, is approximately 12km south from Newcrest Limited's Telfer mine. The two others are highly prospective copper-gold projects - Laverton and Kiwirrkurra.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The Directors of Gunsynd accept responsibility for this announcement.

For further information please contact:

Gunsynd plc Hamish Harris/ Peter Ruse	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray / Mark Rogers	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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