Raiden Resources signs MOU for Mt Sholl Ni-Cu-PGE project

Raiden Resources Limited (ASX: RDN) has entered into an MOU with First Quantum Minerals Australia Ltd (FQMA) for the Mt Sholl Ni-Cu-PGE project. FQMA will exclusively fund the project until the Decision to Mine (DTM), leaving Raiden with a 30% free-carried interest. Raiden retains gold and Lithium-Caesium-Tantalum rights. This partnership follows Raiden's intended acquisition of the remaining 20% project interest.

During a 12-month due diligence period, FQMA has the option to earn a 70% project-level position through staged investments and cash payments. FQMA will pay Raiden AU$250k in cash and invest a minimum of AU$1.5m during due diligence, including ground-based EM & IP and 3,000m drilling. FQMA must solely fund a minimum of AU$25m over 8 years for exploration and studies to attain a 70% equity stake, with Raiden receiving AU$10m in staged cash payments throughout the exploration cycle.

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