InvestSMART

Riedel Resources Limited (ASX:RIE)

ALERT: Price-sensitive ASX Announcement for RIE
Current share price for RIE : $0.020 -0.012 (-37.50%)+
Announcement
Release
29 Jul 2025 2:20PM
Price at Release
$0.032
Full Release
download
Summary
Riedel Resources Limited (RIE) released its Quarterly Activities Report and Appendix 5B Cash Flow Report for the quarter ending 31 March 2024, focusing on its exploration activities at the Kingman Gold Project in Arizona, USA. The company reported successful completion of metallurgical testwork which produced gold and silver doré bars, confirming the potential for conventional gravity and cyanide processing. No drilling was conducted during the quarter, but work continued on planning for possible future drilling subject to permitting and funding. Financially, RIE reported a closing cash balance of approximately $1.1 million, with expenditure primarily dedicated to exploration, administration, and tenement costs. The company also confirmed it has sufficient funding for planned activities and is proactively managing exploration priorities and expenditure. No mining production occurred during the period, and RIE continues to evaluate opportunities to enhance shareholder value.
Key Points
  • Completion of metallurgical testwork confirming gold and silver extraction via gravity and cyanide processing
  • No drilling undertaken in the quarter; planning for future drilling ongoing
  • Primary focus on Kingman Gold Project in Arizona, USA
  • Cash balance at quarter end approximately $1.1 million
  • Expenditure focused on exploration, administration, and tenement maintenance
  • No mining production or sales during the period
  • Funding considered sufficient for upcoming planned activities
  • Active management of exploration priorities and capital allocation
  • Continued evaluation of opportunities to enhance shareholder value
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.