Raiden Resources Limited announced that it will retain full ownership of its Mt Sholl Project after First Quantum Minerals formally withdrew its optional rights under the previously agreed Memorandum of Understanding. The withdrawal comes with a further cash payment of A$135,000 to account for a 534‐meter shortfall in the 3,000-meter drilling commitment, adding to an initial A$250,000 received as a signing bonus. As a result, Raiden now has complete control—not only of the project’s asset rights but also over the work completed by First Quantum Minerals, which includes approximately 2,500 meters of drilling, extensive geophysical surveys, field mapping, soil sampling, and preliminary engineering studies that uncovered the new Keel prospect. The technical details of Mt Sholl reinforce its potential, with a significant JORC mineral resource estimated at 40 million tonnes at 0.45% nickel equivalent and a high-grade component of 5.8 million tonnes at 0.94% nickel equivalent. The deposit’s outcropping nature, combined with its proximity to key infrastructure near Karratha, supports the company’s view that the project could be amenable to open-pit mining. Moreover, Raiden is currently evaluating regional development pathways to unlock further shareholder value, building on the historical 85,000 meters of drilling and the robust geological data generated by First Quantum Minerals. From a market sentiment perspective, bullish arguments revolve around Raiden’s enhanced control over a promising asset, the technological advances and data now in-hand, and the potential for open-pit mining. The acquisition of comprehensive technical work free of cost and the identified targets within the Keel area offer a solid basis for future growth. On the opposing side, bearish sentiment may focus on the inherent risks associated with early-stage project development, commodity price volatility, and the uncertainties connected with advancing exploration projects in challenging environments. While the recent developments restore full project rights to Raiden, the path to commercial production remains subject to market and operational challenges. This move marks a strategic refocus for Raiden Resources Limited as it intensifies its efforts to maximize value in the base metals sector, positioning itself to benefit from further exploration successes and potential development approvals in the near term.