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Riedel Resources Limited (ASX:RIE)

ALERT: Price-sensitive ASX Announcement for RIE
Current share price for RIE : $0.021 0.002 (10.53%)+
Announcement
Release
21 Jul 2026 9:13AM
Price at Release
$0.019
Full Release
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Summary
Riedel Resources Limited has announced the completion of its acquisition of a majority and controlling interest in two belt-scale gold exploration projects, Cosmo and Mt Venn, in the Laverton Gold District of Western Australia from Sarama Resources Ltd. This acquisition positions Riedel as a multi-project explorer, adding to its existing high-grade Kingman Gold Project in Arizona. The Cosmo and Mt Venn projects occupy strategic positions in under-explored greenstone belts, providing significant exploration opportunities. The transaction involved issuing 150 million ordinary shares and 100 million performance rights to Sarama, along with project-related expenses up to A$300,000. The management team has been strengthened with the addition of experienced mining executives to advance the projects, supported by Sarama's 32% equity interest in Riedel.
Key Points
  • Riedel Resources completes acquisition of Cosmo and Mt Venn gold projects.
  • Acquisition covers approximately 1,000km2 in the Laverton Gold District, WA.
  • Projects offer exposure to two Tier 1 mining jurisdictions.
  • Completion involves issuing 150 million shares and 100 million performance rights to Sarama.
  • Riedel strengthens management team with experienced executives.
  • Aboriginal cultural heritage clearance received for Cosmo Project.
  • Sarama retains a 32% equity interest in Riedel.
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.