Highlights
- Raiden Resources is in receipt of shares in Canada-listed Velocity Minerals (TSX-V: VLC)
- Terms of the Definitive Property Option Agreement are being finalised between RDN and Velocity
- Zlatusha Property is fully owned by Raiden, with Velocity planning exploration activities, including mapping, magnetic geophysical and geochemical surveys
Raiden Resources (ASX:RDN / DAX:YM4) -- developing the Mt Sholl Ni-Cu-Co-PGE deposit in Australia’s Pilbara (Western Australia) -- has informed that it has received shares in Velocity Minerals Limited (TSX-V: VLC). The first option payment amounting to C$220,000 in Velocity Minerals' shares has been received by Raiden, with the former company planning magnetic and geochemical surveys and mapping activities over Zlatusha. The Zlatusha Project (195 sq. km) lies northwest of Bulgaria’s capital Sofia.
Raiden's announcement mentions that the two companies are finalising the terms of the Definitive Property Option Agreement.
About Raiden Resources
Raiden is a dual-listed exploration company. It is developing the Mt Sholl Ni-Cu-Co-PGE deposit, which is situated in Western Australia’s Pilbara. Raiden’s gold portfolio includes the Arrow project. The project is in close proximity to and in the same geological setting as the Hemi.
RDN's ASX-listed shares traded at AU$0.004 (market cap over AU$7.4 million) at the time of writing this article on 25 May 2023.