What Raiden Resources does

Raiden Resources Limited (ASX: RDN / DAX: YM4) is a dual-listed, pre-revenue mineral exploration company headquartered in Victoria Park, Perth, Western Australia. It identifies and advances early-stage exploration projects targeting copper, gold, lithium, nickel, cobalt and platinum-group elements across two jurisdictions: the Pilbara region of Western Australia and the Western Tethyan metallogenic belt in Bulgaria. Its portfolio comprises six core projects — Andover South Lithium, Mt Sholl Ni-Cu-Co-Pd, and Arrow Gold in Australia, and Vuzel Gold, BG1 Cu-Au and Zlatusha in Bulgaria — with Mt Sholl hosting a defined 40.4Mt @ 0.45% Ni_Eq sulphide resource and 80–150Mt exploration target.

The company does not generate operating revenue. Capital is raised through equity issuance (notably a $10M institutional placement in October 2024 and a $6M raise in August 2023) and supplemented by joint-venture and farm-in structures, most prominently the First Quantum Minerals Australia Ltd MoU on Mt Sholl (FQMA option to earn 70% by sole-funding exploration to a decision-to-mine) and the Velocity Minerals option agreement on Zlatusha (earn-in to 75%). Exploration is conducted using conventional techniques — geological mapping, rockchip and K-Rb fractionation sampling, drone magnetic and IP surveys, structural interpretation, and diamond and aircore drilling.

Raiden's go-to-market is investor-relations-led across ASX and DAX listings and partner-relations-led at the project level. The customer base is institutional and retail mining investors seeking exploration exposure, plus major mining companies entering farm-in arrangements. Tenure totals approximately 377 km² at Arrow, 42 km² at Mt Sholl and 195 km² at Zlatusha, alongside several smaller licences. The leadership team comprises Non-Executive Chairman Michael Davy, Managing Director Dusko Ljubojevic (former Barrick Gold advisor) and CFO/Non-Executive Director Kyla Garic.

Name

Raiden Resources

Legal name

Raiden Resources Limited

Website

https://raidenresources.com.au

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

1–10 employees

Short description

Raiden Resources is a pre-revenue, dual-listed (ASX: RDN / DAX: YM4) mineral exploration company advancing copper, gold, lithium and Ni-Cu-PGE projects in Western Australia's Pilbara and Bulgaria's Western Tethyan belt, funded by equity raises and major-miner farm-in partnerships.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Metal Ore Mining (2122), Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (21222)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industry

Lithium Mining & Brine Extraction (IMAKAFAA)

Keywords

• Mineral exploration services
• Lithium gold nickel copper
• Mining resource discovery
• Exploration project portfolio
• Critical minerals exploration

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Pre-revenue Exploration Stage: Company is in exploration stage with no current revenue from mineral production. Generates capital through equity raises, option agreements, and joint venture farm-in arrangements where partners fund exploration to earn project interests.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Raiden Resources is a dual-listed (ASX: RDN / DAX: YM4) mineral exploration company that identifies, acquires, and advances exploration projects targeting lithium, gold, nickel, copper, cobalt, and PGE (platinum group elements) deposits. The company's portfolio comprises six distinct exploration projects in Western Australia's Pilbara region and Bulgaria, advanced through geological mapping, drilling, and resource evaluation. Projects are funded via equity capital raises and joint venture / farm-in agreements with major mining partners such as First Quantum Minerals and Velocity Minerals.

Product overview

Raiden Resources (ASX: RDN / DAX: YM4) is a dual-listed exploration company offering a portfolio of mineral exploration projects in Australia and Europe rather than a unified software product. The company's product portfolio consists of six distinct exploration projects: three Australian projects (Andover South Lithium Project, Mt Sholl Nickel-Copper-Cobalt-Palladium Project, and Arrow Gold Project) and three European projects (Vuzel Gold Project and BG1 Copper Gold Project in Bulgaria, and Zlatusha Project). These projects are advanced through exploration activities including geological mapping, drilling programs, and resource evaluation, with the company leveraging strategic partnerships (such as the MoU with First Quantum Minerals at Mt Sholl and option agreements with Velocity Minerals at Zlatusha) to advance project development.

Differentiator

Problem solved

Functional benefit

Products and services

• Andover South Lithium Project

Quantifiable outcome

• Mt Sholl resource: 40.4Mt @ 0.45% Ni_Eq containing 183.2kt Ni, 473.0kt Cu, 300,972oz Pd+Pt+Au
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Velocity Minerals Ltd (TSX-V:VLC)coreStrategic or Co-development Partner · 1 January 2024Option agreement entered January 2024 over the Zlatusha project in Bulgaria. Velocity Minerals has the option to earn into a 75% project level position by executing defined drilling, achieving technical milestones, and making cash and stock payments to Raiden.
• First Quantum Minerals Australia Ltd (FQMA)coreStrategic or Co-development Partner · 1 December 2023MoU signed December 2023 where FQMA is conducting due diligence on Mt Sholl Project with an option to sole fund exploration up to a decision to mine to earn 70% of the project, with Raiden's 30% interest free-carried. FQMA involvement provides world-class technical input into ongoing exploration and evaluation.
• Welcome Exploration Pty LtdminorStrategic or Co-development PartnerWelcome Exploration holds 20% interest in Andover South Lithium Project. Raiden's wholly-owned subsidiary Pilbara Gold Corporation holds 80%.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Kalamazoo Resources: ASX-listed junior explorer with Pilbara gold and lithium projects in similar geological terranes. Comparable size, commodity mix, and exploration-stage risk profile.
• Azure Minerals: ASX-listed lithium and base-metals explorer in the Pilbara whose Andover project sits adjacent to Raiden's Andover South ground. Directly comparable commodity focus, geological setting, and exploration stage.
• Dreadnought Resources: ASX-listed junior explorer focused on critical minerals (Ni-Cu-PGE, lithium, REE) in Western Australia, including the Mangaroon project. Comparable commodity mix and Pilbara/Yilgarn geological setting.
• Velocity Minerals: TSX-V-listed Bulgarian gold and copper-gold explorer that holds an option to earn 75% of Raiden's Zlatusha project. Closest peer by jurisdiction, commodity, and project partnership.
• De Grey Mining: ASX-listed Pilbara gold explorer whose Hemi discovery anchors the region and lies ~35km from Raiden's Arrow Gold Project. Highly comparable as a Pilbara intrusive-related gold explorer; now owned by Newmont.
• Haranga Resources: ASX-listed Pilbara gold/lithium exploration junior chaired by the same Chairman as Raiden. Comparable in scale, commodity exposure, and exploration stage.

Broad incumbents

• First Quantum Minerals: Global copper-nickel producer and Raiden's partner at Mt Sholl with an option to earn 70%. Provides a benchmark for major-mining technical and capital criteria relevant to Raiden's flagship asset.

Regional players

• Pacton Gold: TSX-V-listed Pilbara gold explorer whose Pilbara portfolio was acquired by Raiden in 2021. Directly comparable historical peer for the Pilbara gold exploration thesis.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/LtdRaiden
• LinkedInlinkedin.com/company/raiden-resources-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Raiden Resources