Join our daily newsletter At The Bell to receive exclusive market insights
Raiden Resources (ASX:RDN) has seen its share price jump 11% to 2.9cps as the company confirms it’s lodged its Andover South lithium drilling program of works (PoW) to the relevant department.
In layman’s language – Raiden’s plan to turn the drills on at Andover South is now practically on the Minister’s desk at the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS.)
That was enabled by the company receiving the E47/4062 tenement which allows the PoW to be progressed. The company flagged it expected to receive the tenement a little under two weeks ago.
Raiden continues to review earthworks and drilling contracts ahead of the maiden drill run, expected in mid-October. Diamond-tipped rigs will mobilise to site “as soon as [the] PoW is approved.”
“Management has been striving to achieve this milestone, so with the tenement now granted and with the approval of the PoW the only outstanding step to drill, we are pleased to be in a position to finally test the potential of this exciting project,” Raiden MD Dusko Ljubojevic said.
“As recently announced, management have made significant strides, not only in advancing the Andover South Project, but also over the JV partner funded programs at the Arrow gold and Mt Sholl Cu-Ni-Cu-PGE projects.”
RDN last traded at 2.9cps.
-1200x645-380x200.jpg)