From Stonk head this morning : RAIDEN RESOURCES (ASX:RDN):...

From Stonk head this morning :


RAIDEN RESOURCES (ASX:RDN): Another one looking to swing the bat on lithium exploration in a big way at its Andover South project in the Pilbara. As the name suggests, the project is immediately south of the Andover lithium (and nickel) discovery of Azure and Mark Creasy, a 60:40 joint venture.

Gina Rinehart and Chile’s SQM have recently teamed up to launch a $1.7 billion takeover offer for Azure, valuing 100% of the Andover discovery at $2.8 billion even though there is no formal resource estimate just yet.

Raiden has mapped outcropping pegmatites on its own ground and sampling of rock chips has returned high grade lithium values. It is crying out to be drilled but first consents and approvals have to be secured.

It will be one to watch in 2024. Having said that, Raiden is more than Andover South. It has extensive ground positions prospective for lithium elsewhere in the Pilbara, as well as the Mt Sholl nickel-copper-PGE project which has attracted the attention of the heavyweight miner First Quantum for a potential farm-in deal.