Another dirt cheap copper Copper Gold explorer, but with a couple of distinctions. The caompany is trading near cash backing with a $1M EV, and have a strong JV with RioTinto, instigated by Rio.
On 10 May 2018
RioTinto formally entered into a JV with RDN in respect to 3 of its mining licenses, prospective for porphyry copper-gold and associated styles of mineralisation , Rio Tinto has completed due diligence to its satisfaction, and an unincorporated joint venture has been formed between the parties (Joint Venture)." Exploration on the joint venture tenements will now commence in earnest" as stated on 10May 2018.
7 months on and i am strating to hear that results could soon be coming out from the 1000's of metres of drilling at the sites by RioTinto. I think we are going to see this JV pull into top gear as Rio contimnues to explore these licences that are located within the Western Tethyan Metallogenic Belt in Eastern Europe, which hosts numerous tier one copper-gold porphyry and associated mineral deposits, including recent discoveries.
RDN has the potential to **promotion blocked** from this level quite easily in my opinion.
I know there are a number of brokers watching the Rio exploration program very closely, and this has many bags written all over it. I am quietly waiting patiently on these anticipated results.
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