http://www.copyright link/street-talk/rio-tinto-to-raid-raidens-serbian-acreage-20180313-h0xf3f
Rio Tinto to raid Raiden's Serbian acreage
It is barely three weeks since shares in Raiden Resources, previously known as Subzero Group, resumed trading on the ASX and already they are close to a deal with Rio Tinto.
Rio is expected to be announced as Raiden's new partner in a Serbian exploration venture, which could be formalised as early as Wednesday.
Rio has growing interest in Serbia, given the nation is home to its Jadar borates project, which in recent times has created more excitement for its potential by-product lithium.
But it's neither lithium nor borates that have attracted Rio to Raiden, rather it is the potential to find copper and gold in Raiden's Serbian tenements.
If the deal is taken to its full extent, Rio would fund $US31.5 million worth of exploration on Raiden's acreage to assume 75 per cent ownership of the tenements.
But first things first, and Rio is initially expected to spend $US2.5 million to acquire 51 per cent of the acreage, under the first of the deal's three stages.
RIO
RIO TINTO FPO (RIO)
$74.00-1.48-1.96%
volume 3069711value 227185353.4
May14GMT+1000 (AUS Eastern Standard Time)Mar13Mar184050607039.9679.464
Last updated: Tue Mar 13 2018 - 4:41:58 pm
View full quote
ASX Announcements Expand
Should the deal deliver Raiden to greatness, former Fremantle Dockers goalsneak Byron Schammer will be among the beneficiaries, given companies linked to him rank as the 18th and 19th biggest shareholders in Raiden with about 5 million shares.
Rio has prefeasibility studies underway at Jadar, and struck a memorandum of understanding with the Serbian government last year to progress the permitting phase of the project.
If imitation is the greatest form of flattery, Rio will have been flattered to notice that ASX-listed South East Asia Resources (SXI) recently changed its name to Jadar Lithium Limited to reflect the fact its exploration focus has relocated a long way north-west to Serbia.
Some of the company's acreage is within 10 kilometres of Rio's Jadar project.
Read more: http://www.copyright link/street-ta...serbian-acreage-20180313-h0xf3f#ixzz59bgbuaR4
Follow us: @FinancialReview on Twitter | financialreview on Facebook
- Forums
- ASX - By Stock
- EVR
- ready to rock & roll
ready to rock & roll, page-110
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EVR (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.981M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
22 | 8502944 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 4328279 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 8502944 | 0.004 |
18 | 13250333 | 0.003 |
9 | 8744963 | 0.002 |
6 | 14268004 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 4328279 | 12 |
0.006 | 5856945 | 11 |
0.007 | 7685000 | 11 |
0.008 | 1715519 | 5 |
0.009 | 1405600 | 4 |
Last trade - 16.14pm 01/10/2024 (20 minute delay) ? |
Featured News
EVR (ASX) Chart |
Day chart unavailable
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
Previous Video
Next Video
SPONSORED BY The Market Online