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Raiden Resources Limited (ASX:RDN)

ALERT: Price-sensitive ASX Announcement for RDN
Current share price for RDN : $0.003 -0.001 (-25%)+
Announcement
Release
9 Jun 2026 8:25AM
Price at Release
$0.004
Full Release
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Summary
Raiden Resources Limited announced a binding Option and Sale and Purchase Agreement with Forgent PLC for the potential sale of an 80% interest in the Mt Sholl nickel-copper-PGE Project in Western Australia. The agreement includes an initial A$100,000 Option Consideration in Forgent shares and a further A$2.7 million consideration upon exercise of the option, split equally between cash and Forgent shares. Raiden will retain a 20% interest in the project, which is free-carried through up to A$4 million in project expenditure. This transaction aims to strengthen Raiden's financial position and aligns with its strategy of divesting non-core assets while focusing on priority projects.
Key Points
  • Raiden enters agreement with Forgent PLC to sell 80% interest in Mt Sholl.
  • Option Consideration of A$100,000 in Forgent shares.
  • Additional A$2.7 million upon exercise of option, split between cash and shares.
  • Raiden retains 20% interest with free-carry up to A$4 million in project expenditure.
  • Transaction aligns with strategy to divest non-core assets and focus on key projects.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.