“With an estimated value of $120M at present”
Sorry but that is pie in the sky stuff.
Broker reports .. ignore.
Raiden reported their MRE for Mt Sholl on 3/4/2023.
My post was the 1st one after the report on HC that day. I state in my post RDN’s MC was $6M .. it finished the day unchanged.That’s what Mr Market valued the deposit at then and although I disagreed, that is the fact.
The Nickel price at the time was US$22,710 now
US$16,512.
The Copper price at the time was US$8,966 now
US$8,386.
Raiden announced an Exploration Target at that time based on a Ni price of US$13.30 per lb. now US$7.58 per lb. and a Cu price of US$4.20 per lb. now US$3.77 per lb.
The A$ v US$ is probably more favourable now but in no way does it offset the fall in price now of both Nickel and Copper to then.
I bought into Raiden because I thought the value ascribed to the Mt Sholl was undervalued and I still do however we all need to listen to Mr
Market as painful as that can be sometimes.
Dusko recognised early on that the Commodity boom for Ni, Cu and PGE’s was on the wane and hence the almost total focus for Raiden is now on the Lithium. That’s what shareholders want and the increase in MC is due entirely to the exciting prospects that Raiden holds in the Li space and if we have drilling success this is what the market will recognise and all shareholders will be rewarded handsomely.
@OceanView I don’t have much more to contribute but will reply to your post separately later.
GLTAH.
Jim.
(20min delay)