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RIEDEL RESOURCES LIMITED — Capital/Financing Update 2024
Oct 22, 2024
65702_rns_2024-10-22_aeed4c1c-cb27-4a48-b1cd-194036438e5d.pdf
Capital/Financing Update
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23 October 2024
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RIEDEL SECURES 90% INTEREST IN KINGMAN PROJECT
HIGHLIGHTS:
• Riedel gains additional 39% interest in Flagstaff Minerals (USA) Inc, bringing its total interest to 90%
Riedel Resources Limited (ASX: RIE or the Company ) is pleased to confirm that it has successfully secured an additional 39% interest in Flagstaff Minerals (USA) Inc, bringing its total interest to 90%.
The Company achieved the additional interest, through the renegotiation of existing agreements which reduced the stage 2 expenditure condition at the Kingman Project to reflect the expenditure already incurred. The Company also agreed to pay Flagstaff Minerals Pty Ltd A$20,000 upon execution of the amended agreements.
Referring to the renegotiated Agreements, Riedel Chairman Grant Mooney said today:
“The Company is pleased to complete the negotiations to secure the additional interest in Flagstaff Minerals (USA) Inc and the Kingman Project. In addition to the high grade gold profile of Tintic, there is a very significant silver endowment and we look forward to continuing our investigations to evaluate the technical and economic feasibility of the Tintic Project, in addition to identifying the most suitable mineral processing options.”
This announcement has been approved for release by the Board of Riedel Resources Ltd.
-ENDS-
For further information please contact:
Grant Mooney - Chair Riedel Resources Limited 4/6 Richardson St, West Perth, WA 6005 Australia Tel: +61 (08) 9226 0866 [email protected]
About Riedel Resources Limited:
Riedel Resources Limited is an ASX-listed exploration company focused on the exploration for gold and base metals in Australia and Arizona, USA.
Further information can be found at the Company’s website www.riedelresources.com.au
Riedel Resources Limited
Suite 4, 6 Richardson Street, West Perth WA 6005 [email protected] | riedelresources.com.au T: +61 8 9226 0866 | ABN: 91 143 042 022