Raiden Resources (RDN) Q1 2026 TU earnings summary

Executive summary

• Significant gold intersections at Vuzel Gold Project, with high-grade feeder structure identified and widespread mineralisation confirmed across most drill holes in Phases 1 & 2, covering 3,450m of drilling.

• Drilling paused pending permits for the Skarn Silver Anomaly, where historical and recent sampling confirm strong silver mineralisation.

• Retained 100% ownership of Mt Sholl Project after First Quantum Minerals' withdrawal, benefiting from all prior work and cash reimbursements.

• Ongoing evaluation of acquisition, divestment, and JV opportunities to enhance portfolio and cash reserves.

Financial highlights

• Cash balance of $13.25m as of 30 September 2025.

• Net cash outflow from operating activities was $638k for the quarter, primarily due to $783k in exploration expenditure.

• No revenue from mining, production, or development activities during the quarter.

• Payments to related parties totaled $134k, including director fees and company secretarial services.

Outlook and guidance

• Pending permits for Skarn Silver Anomaly expected to enable resumption of drilling, with integrated IP and historical data guiding high-impact targets.

• Continued focus on value-accretive acquisitions and potential divestments or JVs to strengthen financial position.

• Estimated funding available for over 20 quarters at current expenditure rates.