I contacted the Coy last week to ascertain the current status of Mt Sholl in regards to the 12 months DD to be undertaken by First Quantum and if they intended to progress the MOU to the next stage, notwithstanding that they have only drilled 2,466m of the 3,000m required to date.
.
The reply I received was “In due course, we will inform the market”.
Raiden has never advised the market when the 12 months DD expires and when I enquired as to the date a couple of months ago I was told “I think it’s in May 2025”.
Previously I expected that FQM would extend the MOU but I now think it is only a 50:50 chance at best.
We await.
AIMO.
Jim.
RDN Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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