Riedel Resources Announces Sale of Charteris Creek Project to Proceed

Riedel Resources Limited (ASX: RIE) advised that LMTD Wits Pty Ltd (‘LMTD’) has exercised its Option to purchase the Charteris Creek Project (E45/2763) for $500,000 in cash, exclusive of GST.

Pursuant to the Sale Agreement, the non-refundable option fee of $25,000 and the first instalment payment of $175,000 (plus GST) have now been received in full by the Company.

Executive Chairman, Mr Jeffrey Moore said “Riedel is pleased to advise that the sale of the non-core Charteris Creek Project has now proceeded with LMTD’s Option exercise and payment of the tranche 1 fee. The proceeds from this divestment will be allocated to the Company’s primary focus, which is the exploration and development of its European energy metals assets.”


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