Raiden Resources kicks off 2024 with strong lithium shows

The Market Herald01-30

Raiden Resources (ASX:RDN) is shrugging off concerns in the lithium sector with a strong start to 2024 The company wound up the December quarter with $7.7 million in cash A total of 143 chips were ...

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A total of 143 chips were collected across the quarter. During the quarter, Raiden also acquired 100 per cent of mineral rights over the Mt Shol project as well as inking an MOU with First Quantum Minerals . Raiden Resources  is shrugging off concerns in the lithium sector with a strong start to 2024.The company wound up the December quarter with $7.7 million in cash and a raft of strong lithium surface sample results to follow up with exploration in 2024.Raiden highlighted results from Andover South surface sampling with chips clocking in at grades up to 3.80 per cent lithium oxide.Spodumene auctions are what drove Pilbara Minerals  to household fame – that company is set to survive the downturn in the lithium sector according to some analysts with the outcomes for microcap explorers likely to be on a case-by-case basis.That MOU gives FQM the right to acquire a 70 per cent stake. FQM is far more likely to weather a s","collect":0,"end_time":0,"defaultTopTitle":"themarketherald.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BMI":"Badger Meter","BK4157":"电子设备和仪器","BK7507":"资源股","BK7095":"多种金属与采矿","GRE.AU":"GREENTECH METALS LTD","RDN.AU":"RAIDEN RESOURCES LTD","BK7504":"锂钴概念","PLS.AU":"PILBARA MINERALS LTD"},"translate_title":"雷电资源以强劲的锂展示拉开2024年序幕","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BMI":1,"GRE.AU":1,"PLS.AU":1,"RDN.AU":1},"content_text":"Raiden Resources (ASX:RDN) is shrugging off concerns in the lithium sector with a strong start to 2024\nThe company wound up the December quarter with $7.7 million in cash \nA total of 143 chips were collected across the quarter\nDuring the quarter, Raiden also acquired 100 per cent of mineral rights over the Mt Shol project as well as inking an MOU with First Quantum Minerals (FQM)\nRDN shares last traded at 2.5 cents\n\nRaiden Resources (ASX:RDN) is shrugging off concerns in the lithium sector with a strong start to 2024.\nThe company wound up the December quarter with $7.7 million in cash and a raft of strong lithium surface sample results to follow up with exploration in 2024.\nRaiden highlighted results from Andover South surface sampling with chips clocking in at grades up to 3.80 per cent lithium oxide. \nA total of 143 chips were collected across the quarter. The company did, however, issue a notice of caution on the visual identification of any mineral.\nAndover South momentum\nThis comes as the company has inked five new prospective targets on-site at Andover South with spodumene confirmed to be the dominant host rock bearing the battery metal.\nSpodumene auctions are what drove Pilbara Minerals (ASX:PLS) to household fame – that company is set to survive the downturn in the lithium sector according to some analysts with the outcomes for microcap explorers likely to be on a case-by-case basis. \nBenchmark Minerals Intelligence (BMI) expect this new lithium landscape to become the norm until 2028.\nDivestment and consolidations \nIn the meantime, management has “engaged with potential partners regarding the divestment and partnerships regarding non-core assets in Australia”.\nRaiden holds a number of projects in Bulgaria where relatively little work was conducted in the quarter.\nA wave of consolidation (or waves thereof) is expected across the lithium sector broadly in the coming years. \nAt any rate, Raiden also has its eyes on lithium trends in soils found at its separate Mt Sholl project which is along strike of GreenTech Metals’ (ASX:GRE) Osbourne JV pegmatite assets.\nDuring the quarter, Raiden acquired 100 per cent of mineral rights over the Mt Shol project as well as inking an MOU with First Quantum Minerals (FQM).\nThat MOU gives FQM the right to acquire a 70 per cent stake. FQM is far more likely to weather a sustained bottom of the lithium commodity cycle, so for Raiden and its shareholders, this could prove to be a wise move.\nRDN shares last traded at 2.5 cents.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2407873451"}