Renaissance Gold (REN:TSX.V) is a prospect generator exploring for gold and silver deposits in the Great Basin of the western US. RenGold is the spinout of the highly successful AuEx Ventures, Inc. (XAU:TSX) that brought the Long Canyon deposit and the Pequop Gold District to prominence and created tremendous shareholder value. The key to our success is the integration of our extensive Great Basin exploration experience with our effective use of our substantial Great Basin exploration database. Today we have just 37 million shares outstanding.
The tight share structure allows for a very meaningful per share value appreciation that will result from discovery using the joint venture business model. Our current portfolio of exploration properties in Nevada and Utah includes a mix of advanced and grassroots exploration targets. The portfolio approach reduces the exploration risk associated with any one property and allows for a higher probability of success. Historic gold drill intercepts at several of the projects present potential opportunities to delineate NI 43-101 compliant resources in the near-term with further infill and step-out drilling.
The Company believes that its prospect generator/joint venture business model is the most effective strategy for junior explorers without positive cash flow. Renaissance employs leading edge exploration technology and has developed proprietary techniques for processing satellite, geophysical, and geochemical data to identify alteration and geologic features related to mineral deposits. Renaissance is confident that its extensive exploration experience and state-of- the-art technical capability that guided AuEx to a major discovery at Long Canyon will continue to direct the Company toward new opportunities and new discoveries resulting in strong growth potential for shareholders.