RDN - Raiden Resources Limited (RDN.AX) Arrow to Receive $0.5M in Cash and Shares for Tenements
Perth, Australia (ABN Newswire) - Arrow Minerals Limited (ASX:AMD) advises that Raiden Resources Limited (ASX:RDN) has elected to exercise the Upfront Option to acquire 100% of the lithium-caesium-tantalum (Li-Cs-Ta) mineral rights in tenements E47/3476 & E47/3478 located in the Pilbara, Western Australia (Mineral Rights). Pursuant to the terms of the Agreement, Arrow will receive $250,000 in cash and $250,000 in RDN shares.
Arrow will retain a 1% Net Smelter Royalty (NSR) over the Mineral Rights, with Raiden retaining the first right of refusal if Arrow wishes to sell the NSR.
ABOUT ARROW MINERALS
Arrow Minerals has a strategy of delivering long-term value to shareholders through the discovery and development of economic mineral deposits in West Africa. Arrow has beneficial rights to 33.3% of the Simandou North Iron Project, Guinea and can increase this to 100% through meeting project and expenditure milestones. Arrow aims to systematically advance the Simandou North Iron Project over the coming months to identify areas of high-grade iron within the project area and realise the potential value released through the major infrastructural upgrades, rail and port, underway in the region.
Arrow will retain a 1% Net Smelter Royalty (NSR) over the Mineral Rights, with Raiden retaining the first right of refusal if Arrow wishes to sell the NSR.
ABOUT ARROW MINERALS
Arrow Minerals has a strategy of delivering long-term value to shareholders through the discovery and development of economic mineral deposits in West Africa. Arrow has beneficial rights to 33.3% of the Simandou North Iron Project, Guinea and can increase this to 100% through meeting project and expenditure milestones. Arrow aims to systematically advance the Simandou North Iron Project over the coming months to identify areas of high-grade iron within the project area and realise the potential value released through the major infrastructural upgrades, rail and port, underway in the region.
About Raiden Resources Limited:
Raiden Resources Limited (ASX:RDN) (DAX:YM4) is a dual listed exploration and development company which is advancing the Mt Sholl Nickel-Copper-Cobalt-Palladium deposit in the Pilbara. The Company's portfolio host metals and commodities considered critical for the revolution of the energy and electrification revolution.
Source:
Raiden Resources Limited
Contact:
DUSKO LJUBOJEVIC
Managing Director
RAIDEN RESOURCES LIMITED
dusko@raidenresources.com.au
www.raidenresources.com.au