Kidajh,
If I had any concerns about raidens chances of success, I would sell, announce that and move on.
I have doubled down and accumulated at the 0.7c area.
Here we have.
1. Vuzel.
With little spend, they can move to 70%.
It is a very open resource. As not many decent deposits in that country compared to here.
It will be an easy sell. I put a 100m price on it, with the right resources. A deposit did sell over there for around 100m.
2. Arrow.
Shallow drilling surface to bedrock detected secondary gold in multiple places.
I do not care that grades were low being on bedrock. The gold detected came from a primary source.
So we look under bedrock for it, in the very early days with degrey, there shallow aircor, also got only indicators.
3. Mt scholl
3 zones exist. What is interesting, is those zones are arranged more in a circular fashion, not parallel or long and narrow.
Target there is 125m tonnes of ore. Already the deposit is the largest unmined open pittable in WA.
The jv partner is a large nickel miner, they would not be involved if they did not think viable to mine.
Yes nickel is in the dumps, but metals are cyclical. Meaning at some point in the future nickel will once again be valuable.
4. Andover.
Initial drilling targeted surface interpretations.
Viable lithium was not found, but lithium was detected and pegmatite large.
Meaning magma flowed into raidens tenaments, just that it did not crystalize to form lithium, a few odd patches did.
That I wht is important. A few hundred metres south, south/east of campaign one drilling is a channel.
That channel existed and was identified prior to drilling more north of it.
They would not have drilled it, because surface indicators exited elseware.
In exploration you have to start somewhere and blind.
I've mentioned in my early exploration it is average or null result.
Each step rules in and out and you keep doing that in stages.
We know in the present area, not to go north or west.
So we have ruled in south and East.
The next campaign will be more targeted as already less blind to targets not in sight as mentioned above.
To explore, the biggest thing you need to be is beyond patient.
Never get put off by average or bad results.
I mentioned degreys average initial rc, but azure also early stage was average.
If we look at cadia, they discovered that very late stage. Meaning they got alot of bad results.
In Vic, fosterville. That was all shallow pits. Was on care an maint when I was there.
I asked have you drilled under. No point I was told, just shallow oxides.
Then comes along a wmc geo and he sunk holes up to 800m under it. End result 8m ozs after it was called no good.
The crux is exploration, never ends and if you give up you loose.
Ie. Fosterville no 8m Oz and cadia never found.
Raiden has 16m cash, that is very handy across two projects. It buys around 50,000m of diamond drilling.
Certainly enough meters to fully explore Andover south.
North I do not know enough about to comment on it.
So all in all I'm a very patient b*astard and I do know good ground when I see it.
A lot of experience mining and prospecting gathered over 40 years, you do not get it from a book or uni degree.
Important note - exploration does not always produce a viable deposit.
So we either loose our money or we make above average profit. Anyone investing in the likes of raiden need to accept looses if they occur.
It is the risk we take in effort to get a 200%, 500%, 1000% Profit.
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