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RAIDEN RESOURCES LIMITED — Capital/Financing Update 2023
Nov 9, 2023
65675_rns_2023-11-09_204dbe0c-c4c4-46dc-bb8b-2b235e67dc95.pdf
Capital/Financing Update
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ASX RELEASE | 10 November 2023
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RAIDEN ADVISES ON THE ISSUE OF SECURITIES PREVIOUSLY APPROVED BY SHAREHOLDERS
Raiden Resources Limited (ASX: RDN, DAX: YM4) (“Raiden” or “the Company”) advises that it has issued a total of 50,232,069 fully paid ordinary shares in the capital of the Company.
The shares have been issued on the basis of previously announced transactions approved by shareholders and in relation to exercise of listed options.
ASX CODE: RDN DAX CODE: YM4
BOARD & MANAGEMENT Non-Executive Chairman
Mr Michael Davy
Managing Director
Welcome Exploration Pty Ltd (“Welcome”)
As announced on the 21 August 2023 Raiden completed the acquisition of its 80% interest in the Welcome permits. Today the Company confirms it has issued the 40,965,208 fully paid ordinary shares (“Shares”) to Welcome for the acquisition of five (5) Andover tenements. The shares issued today were approved by shareholders at the General Meeting of Shareholders held 22 September 2023. The shares were subject to a 6 month voluntary escrow from the completion of the acquisition, they will be released from escrow on 21 February 2024.
The transaction secured Raiden’s 80% interest in the five Andover tenements. The acquired tenements (E47/4061-2-3; E47/3849 and P47/2028) are immediately adjacent to Azure Mineral’s (ASX:AZS), Andover lithium discovery[1] . Subsequent exploration activities undertaken on the project by the Company have defined multiple, mineralised pegmatites, with a significant portion of pegmatites assaying >1% Li2O and with Spodumene mineralisation confirmed[2] through X-Ray Diffraction[3] .
Mr Dusko Ljubojevic
Non-Executive Director Mr Dale Ginn
Non-Executive Director & Company Secretary
Ms Kyla Garic
Chief Operating Officer Mr Warrick Clent
ASSET PORTFOLIO
SERBIA Cu & Au
BULGARIA Cu, Au & Ag
P 08 6158 9990 F 08 6268 4926 Suite 7, 63 Shepperton Road, Victoria Park, 6100 Australia
ASX RELEASE | 10 November 2023
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Figure 1: Raiden’s Andover South Project and adjacent Azure Minerals Ltd.’s Andover Lithium project[1,2]
Issue of shares to Arrow Minerals for the Arrow lithium mineral rights
The Company also issued 8,238,861 shares in the capital of the Company at an issue price of $0.03044 per share following the exercise of an Upfront Option under the Agreement with Arrow Minerals Limited.
As announced on the 6 November 2023, Raiden provided Arrow Minerals Ltd with an election notice to exercise the Upfront Option, resulting in an acquisition of 100% of the LiCs-Ta rights over the Arrow Project. On closing of the transaction, the Company will own 100% rights to all the minerals on the Arrow project, including the gold rights.
Management decided to exercise the Upfront Option on the basis of the discovery of Spodumene bearing pegmatites on the Arrow project[4] , which underscores the potential of the project and provides encouragement for further mineralisation on the project.
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ASX RELEASE | 10 November 2023
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Figure 2: Raiden’s Arrow lithium-gold project showing the recent mapping and sampling area of interest in addition to adjoining lithium projects and discoveries in the district[,4,5,6,7]
Issue of securities on conversion of options
The Company issued a further 1,028,000 shares in the capital of the Company following the exercise of 1,028,000 listed options which have an expiry date of 30 November 2024 and an exercise price of $0.015 per option. The options were issued under the Company’s Loyalty Options Offer, further information is contained in the ASX announcement release dated 26 October 2022.
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ASX RELEASE | 10 November 2023
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Capital structure of the Company
| Description | Number |
|---|---|
| OrdinaryFullyPaid Shares | 2,345,132,029 |
| OrdinaryFullyPaid Shares(escrowed) | 40,965,208 |
| Listed Options@ $0.04 Expiring31/12/2023 | 50,000,000 |
| Listed Options@ $0.015 Expiring31/12/2023 | 605,420,180 |
| Tranche 1 Performance Rights | 21,900,000 |
| Tranche 2 Performance Rights | 7,300,000 |
| Tranche 3 Performance Rights | 25,550,000 |
| Tranche 4 Performance Rights | 18,250,000 |
This announcement is authorised for ASX release by the board of Raiden Resources Limited
DUSKO LJUBOJEVIC
Managing Director
RAIDEN RESOURCES LIMITED
ASX Announcements referenced to directly in this release
1ASX:AZS 13 June 2023 Exceptional Lithium Drill Intersections from Andover
2ASX:RDN 17 October 2023 XRD Confirms High Spodumene Content at Andover South Project
3ASX:RDN 9 November 2023 Exceptional Lithium Results and Additional Spodumene confirmation at Andover South Project
4ASX:RDN 30 October 2023 pegmatites and Spodumene Mapped at Arrow Project
5ASX:1MC 07 December 2022 Drilling Confirms High-grade Lithium Mineralisation at Mallina
6ASX:1MC 25 May 2023 Mallina Drilling Intercepts 23 Metres of Pegmatite, Hosting Visual Spodumene
7ASX:1MC 06 July 2023 Mallina Drilling Increases Strike and Identifies New Zones of Mineralised Spodumene
The information referenced in the announcements footnoted at 2 to 4 above that relate to exploration results have previously been released on the ASX. The Company confirms that it is not aware of any information or data that materially affects the information included in the market announcements, and that all material assumptions and technical parameters continue to apply. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
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ASX RELEASE | 10 November 2023
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Disclaimer:
Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “potential(s)”and similar expressions are intended to identify forwardlooking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forwardlooking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Investors are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and the Company does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
About Raiden Resources
Raiden Resources Limited (ASX:RDN / DAX:YM4) is a dual listed lithium, base metal—gold exploration Company focused on the Andover North-South, Mt Sholl and Arrow lithium projects. The Company also holds the rights to the advanced Mt Sholl nickel-copper-cobalt-PGE and the Arrow gold projects in the Pilbara region of Western Australia. In addition, the Company holds the rights, as well as the emerging and prolific Western Tethyan metallogenic belt in Eastern Europe, where it has established a significant exploration footprint in Serbia and Bulgaria. The Directors believe the Company is well positioned to unlock value from this exploration portfolio and deliver a significant mineral discovery.
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