Raiden Resources jumps on securing 100% stake of Pacton Pilbara portfolio

Pacton Gold

23/04/2021 05:44

** Shares of copper-gold explorer  RDN.AX  rise as much as
8.3% to A$0.026, marking their best day since April 6
    ** Co secures exposure to 100% stake across the entire
Pilbara Portfolio, through acquisition via its unit Pilbara Gold
Corp Pty Ltd of the remaining 25% equity from Pacton Gold Inc
across the Arrow, Yandicoogina and Boodalyerrie Projects
 urn:newsml:reuters.com:*:nASN0013SL
    ** Says as part of acquisition it will also take over
ownership of a ball mill which was owned by Pacton
    ** Acquisition consideration includes issuance of A$1 mln
($773,200.00) in fully paid ordinary shares of Raiden, and a
cash consideration of A$200,000 to Pacton
    ** Stock down 20% so far this year, as of last close
    


($1 = 1.2933 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))