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Raiden Resources (ASX:RDN/DAX:YM4) announces sale of Majdanpek West project for $300K and royalty

April 13, 2023 10:41 AM AEST | By Manisha
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 Raiden Resources (ASX:RDN/DAX:YM4) announces sale of Majdanpek West project for $300K and royalty
Image source: RDN presentation

Highlights

  • Raiden Resources has inked a binding agreement with Konstantin Resources for the sale of its 100% owned Majdanpek West project in Serbia.
  • Under the agreement, Konstantin will pay AU$300k in cash or stock to Raiden to complete the deal.
  • RDN will now hold a 1% NSR over the project area, as per the agreement.
  • According to Raiden, the sale of the project aligns with its strategy of building a strong balance sheet via divestment of non-core projects.
  • The company will be focusing on progressing development at Mt Sholl in Western Australia.

ASX-listed exploration and development company Raiden Resources Limited (ASX:RDN, DAX:YM4) has signed a binding sale agreement with Konstantin Resources Limited for the sale of its 100% owned Majdanpek West project in Serbia. As per the agreed terms, Konstantin will secure a 100% interest in the project, on completing transactions in cash or stock (at Konstantin’s election) to Raiden.

Data source: Company update

More to come…


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