Ann: Raiden enters strategic partnership with FQM at Mt Sholl, page-57

Mvc,

This deal is very good.

For fqma to get to 70%

They need to spend 38.5m and pay Rdn 10m.
Total 48.5m for 70%

Values Mt sholl at 69.28m worst case.

And Rdn retains rights to the gold and lithium there.

The bonus is the 3000m of drilling and surveys at due diligence, whilst Rdn still will have 100%.

The stages are over 8 years.

Does not mean fqma would take that long, they could belt the exploration in half that time.

I'd rather Rdn gets 30% of Mt sholl and saves 38.5m spend and pockets 10m cash.

If we look at what Rdn paid for Mt sholl and there spend, this deal makes them a very large return with zero risk now.