In this episode of Coffee with Samso 188, we have David Groombridge, CEO of Riedel Resources Limited (ASX: RIE) sharing with us an update on exploration activities at the Kingman Project.
The Riedel Resources story is one of the few real exploration plays on the Australian Stock Exchange (ASX). In this episode of Coffee with Samso, David Groombridge gives us a quick update on the project and what shareholders and potential investors should be looking out for in the coming months.
Listen to our coffee conversation with David Groombridge here:
The Riedel journey exemplifies a typical mineral exploration experience. If I had a dollar for every time I mentioned this phrase, "a typical mineral exploration journey," I would be generously compensated. Unfortunately, in today's market, it is disheartening to acknowledge that there is a prevailing misconception within the investing community that profits can be achieved in a matter of weeks.
Investors are solely focused on corporate maneouvers that yield shareholder gains, disregarding genuine mineral exploration outcomes. There is a distinct lack of genuine investor interest in the market. Even the mention of lithium, once considered a magical term, no longer holds the same allure. It is now recognised that possessing a pegmatite with spodumene is no longer a guaranteed path to share price appreciation.
This means recognising that corporate support and favouritism are the only things that truly matter. It emphasises the importance of the individuals driving the narrative. While it may sound pessimistic, there is hope for a positive outcome. I firmly believe that time is the remedy that other "patient" investors must embrace.
The crucial factor for the average investor is allowing projects to develop over time. The current bearish sentiment in the market has led to many companies being significantly undervalued.
The key is to align yourself with a well-managed story that possesses the technical merits to thrive during the next bullish market phase.
In my opinion, Riedel is one of those companies. Mike Bohm is a no-nonsense operator and the Kingman project is full of potential. The company is now established in the US and as David Groombridge puts it, there are opportunities out there for the taking.
It is important to keep in mind that a bear market is a time when projects can be easily dislodged from their positions. The most promising projects are often acquired during bear markets, and they reap the rewards of their hard work when the bull market brings favourable conditions.
Tune in to the Riedel story here.
00:49 Update from David Groombridge.
01:22 Any new Learnings at The Kingman project.
02:24 The Tintic - Jims Structural Corridor.
03:19 Any resemblance to Mineral Park?
05:04 What is the Exploration strategy now?
06:25 Exploration is a long-term proposition.
07:32 Any concerns with regulatory issues?
08:04 What would make investors worry and celebrate the Riedel story?
09:25 Any potential acquisition in play?
10:27 When will the resource come out?
Chief Executive Officer
David is a geologist with a Masters in Economic Geology from the University of Tasmania.
His career incorporates 20 years mining industry experience in multiple ore deposit styles, including nickel sulphides, tungsten, SedEx (sedimentary exhalative) and orogenic gold in both underground and surface roles, primarily in resource development and mineral exploration.
He spent 12 years across senior management roles at Tectonic Resources and Silver Lake Resources before becoming Exploration Manager for Medallion Metals, where he has worked since 2016, focused on the 1.62Moz Au Eq. Ravensthorpe Gold Project. This WA-based project is a structurally hosted, high-grade gold system similar to the Kingman Project.
About Riedel Resources Limited
Riedel Resources (ASX: RIE) is an emerging mineral exploration company focused on advancing the historic high-grade Kingman Gold Project in North-West Arizona.
The Kingman Project covers an area of historic gold-silver-lead-zinc mines that were in production from the 1880’s through to the early 1940’s.
Diamond drilling in late 2019 confirmed the high grades seen in historic mining.
RC drilling in early 2021 hits extensive gold, silver, zinc and lead mineralisation including 3.8m at 98.9 g/t gold and 151 g/t silver from 20.6m at Tintic and 4.6m at 8.39g/t gold from 100.6m at Merrimac.
Further drilling subsequently confirmed gold, silver, zinc and lead mineralisation in multiple veins at Jim’s.
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