Raiden Resources (RDN) Q4 2024 TU earnings summary

Executive summary

• Heritage surveys completed at Andover South and North with no cultural impediments; drilling at Andover South to commence post-regulatory approval.

• Mt Sholl Ni-Cu Project drilling by First Quantum Minerals expected next quarter, fully funded by partner.

• Entered binding earn-in agreement with Mallina for Arrow gold project; Raiden retains 100% rights to LCT mineralisation.

• Ongoing engagement with potential partners for divestment and partnerships on non-core Australian assets.

Financial highlights

• $431k spent on exploration activities during the quarter; no mining, production, or development expenditure.

• Net cash used in operating activities was $(327)k for the quarter.

• Net cash used in investing activities was $(1,400)k; $253k raised from financing activities.

• Cash and cash equivalents at quarter end were $5.71 million.

• Payments to related parties totaled $161k, covering director fees and company secretarial services.

Outlook and guidance

• Drilling at Mt Sholl and Andover South expected to commence in the next quarter, pending regulatory approvals.

• Arrow project to see minimum $600k exploration spend and 3,000m drilling by Mallina within 12 months.

• Further work at Vuzel (Bulgaria) and Zlatusha (Bulgaria) contingent on regulatory and social license approvals.