Riedel Resources Completes Strategic Acquisition of WA Gold Assets
Riedel Resources Ltd (ASX: RIE) has finalized the transaction to secure majority control over Western Australia's Cosmo and Mt Venn gold ventures from Sarama Resources Ltd (ASX: SRR). Located in Western Australia's Laverton Gold District, these two belt-scale assets cover approximately 1,000 km² over an unexplored 100 km strike length. The transaction transforms Riedel into a multi-project explorer with active projects across Tier 1 mining regions in Western Australia and Arizona, USA.
Under the agreement, Riedel acquired 100% of Yikarri Resources Pty Ltd by issuing 150 million ordinary shares, 100 million milestone-based performance rights, and reimbursing up to AU$300,000 in expenses. Consequently, Sarama now holds an initial ~32% equity interest in Riedel. Alongside the transaction, Riedel restructured its leadership team, appointing Paul Schmiede as CEO, Andrew Dinning as Non-Executive Director, and Jack Hamilton as Special Advisor – Exploration.
With Aboriginal cultural heritage clearances obtained, Riedel is preparing for reconnaissance drilling at the Cosmo Project while advancing geological models and surveys for Mt Venn and its Kingman Project in Arizona.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Riedel Resources Completes Strategic Acquisition of WA Gold Assets
Riedel Resources Ltd (ASX: RIE) has finalized the transaction to secure majority control over Western Australia's Cosmo and Mt Venn gold ventures from Sarama Resources Ltd (ASX: SRR). Located in Western Australia's Laverton Gold District, these two belt-scale assets cover approximately 1,000 km² over an unexplored 100 km strike length. The transaction transforms Riedel into a multi-project explorer with active projects across Tier 1 mining regions in Western Australia and Arizona, USA.
Under the agreement, Riedel acquired 100% of Yikarri Resources Pty Ltd by issuing 150 million ordinary shares, 100 million milestone-based performance rights, and reimbursing up to AU$300,000 in expenses. Consequently, Sarama now holds an initial ~32% equity interest in Riedel. Alongside the transaction, Riedel restructured its leadership team, appointing Paul Schmiede as CEO, Andrew Dinning as Non-Executive Director, and Jack Hamilton as Special Advisor – Exploration.
With Aboriginal cultural heritage clearances obtained, Riedel is preparing for reconnaissance drilling at the Cosmo Project while advancing geological models and surveys for Mt Venn and its Kingman Project in Arizona.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au