Riedel Resources strengthens investment

Riedel Resources (ASX:RIE) has increased its ownership in Flagstaff Minerals (USA) Inc. by 39%, now holding 90%. This was accomplished by renegotiating agreements, aligning expenditure conditions with incurred costs, and making an additional payment.

Riedel Resources strategic outlook

Riedel Resources has strategically increased its stake in Flagstaff Minerals, enhancing its influence in the Kingman Project. This move aligns with Riedel's focus on gold and base metals exploration. The company aims to further analyze the Tintic Project's feasibility and optimize mineral processing. The announcement underscores Riedel's dedication to expanding its exploration efforts and resource development in Arizona. Riedel remains committed to evaluating opportunities and enhancing its project portfolio.

Riedel Resources leadership remarks

We are pleased to have successfully renegotiated the agreements, which now better align with the project’s incurred costs. The Kingman Project holds high-grade gold and significant silver resources, and we see substantial potential in further exploration and development.