- Raiden Resources (RDN) has completed its purchase of a significant gold and nickel portfolio in the Pilbara from Pacton Gold
- Located in northern Western Australia, the assets include the Arrow, Boodalyerrie and Yandicoogina gold projects
- The company also issued 207 million fully paid ordinary shares to wholly acquire Pilbara Gold Corporation, a subsidiary of Pacton Gold, which holds a 75 per cent stake in the projects
- C$500,000 (roughly A$507,290) in cash and a further 129 million shares will issued to Pacton Gold, as well as an additional C$500,000 (roughly A$507,290) on the first anniversary of the transaction
- All of the tenements are subject to a 1 per cent net smelter royalty, and all share-based payments are subject to a six-month escrow period
- Raiden Resources is currently down 3.85 per cent to 2.5 cents per share
