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Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic
Managing Director, Dusko Ljubojevic
Source: The Market Herald
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  • Raiden Resources (RDN) completes the acquisition of the nickel-copper-platinum group element tenements adjacent to its Mt Sholl project in Western Australia
  • On September 13, the company announced it would be expanding Mt Sholl by acquiring an 80 per cent interest in the adjoining tenements from Welcome Exploration
  • Raiden is now allocating the vendor shares and has settled the $100,000 payment to Welcome
  • The company will now issue $500,000 worth of vendor shares to Welcome Exploration now that the agreement has been executed
  • Raiden is up13 per cent on the market with shares trading at 2.6 cents

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

On September 13, Raiden announced it would be expanding its Mt Sholl project by acquiring an 80 per cent interest in the adjoining tenements from Welcome Exploration.

This land adds a further 27 square kilometres to Raiden’s existing tenements.

Both the Mt Sholl and Welcome’s nickel-copper-PGE project are located 22 kilometres southeast of Karratha in Western Australia’s Pilbara region.

Raiden has now received statutory consents, mining information and signed transfers.

The company is now in the process of allocating the vendor shares and has settled the $100,000 payment to Welcome Exploration.

The company will now issue $500,000 worth of ordinary shares to Welcome now that the agreement has been executed.

Managing Director Dusko Ljubojevic is pleased with the completion of the acquisition.

“This acquisition significantly expands the prospectivity of the company’s Mt Sholl project, which is now defined through approximately 80,000 metres of historical drilling across the tenements,” Mr Ljubojevic commented.

“We are expediting our review of the historical drill data, modelling and previous geophysical surveys across all these tenements.”

“In conjunction with the mapping and target generation conducted earlier in the year, the company will be announcing the result of our evaluations and the program to progress the project in the near term.”

Raiden was up 13 per cent on the market with shares trading at 2.6 cents at 1:25 pm AEDT.

RDN by the numbers
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