Raiden Resources (RDN) Q1 2025 TU earnings summary

Executive summary

• Commenced 5,000m diamond drilling at Andover South Lithium Project, with regulatory approvals and State Deed executed; program may expand to 15,000m.

• Defined new high-priority lithium target (Target Area 7) at Andover South, based on mapping and geochemical analysis.

• Structural interpretation completed for Andover North & South, aligning with adjacent Azure Minerals' lithium mineralisation.

• Heritage surveys completed at Mt Sholl (Ni-Cu-PGE) and Arrow (Gold) projects, with drilling planned for Q4 2024.

• Raised $10 million via placement post-quarter, increasing cash on hand to ~$14.1M.

Financial highlights

• $938k spent on exploration activities during the quarter; no mining, production, or development expenditure.

• $440k raised from exercise of options; $167k paid to related parties for director and secretarial fees.

• Net cash outflow from operating activities was $1.11M; quarter-end cash balance at $5.04M.

• Placement post-quarter added $10M, bringing cash to ~$14.1M.

Outlook and guidance

• Placement proceeds to fund expanded drilling at Andover North & South (up to 15,000m), Vuzel Gold Project (up to 3,000m), and working capital.

• Drilling at Mt Sholl and Arrow projects planned for Q4 2024, subject to final heritage survey outcomes.

• Continued planning for drilling in Bulgaria and Serbia, with Vuzel Gold/Silver drilling targeted before year-end.