INVESTOR NEWSLETTER
JUNE 2024
Dear Investor,
This month was dominated by third party deal making, the Eid holiday and that inevitable complement to our exploration activities; permits and licenses. Drill permits at Alouana in Morocco have passed a crucial initial regulatory stage and are now on the agenda for local community approval, and newly identified copper gold applications have been filed and are in process in Saudi Arabia.
It’s been 18-months since our strategic shift and the Company has been absorbed by and become completely miscible with its new surroundings. We do however still hold the rights to some impressive exploration assets in Colombia and interestingly, as an aside, we have seen third party interest this month coupled with some engagement with government and regional players over perhaps unlocking some of the porphyry copper potential under our applications in the south of the country.
Exploration Update
Saudi Arabia Our field reconnaissance teams continue to identify new copper and gold opportunities across the Arabian Shield. Our four new exploration license applications submitted towards the end of May are continuing to be processed. All three Exploration Licenses at Jabal Sahabiyah were fully awarded allowing us to submit our application for the Exploration Enablement Program which aims to support Greenfield Exploration in the KSA, as well as starting the Environmental permitting process for potential drilling in Q4.
As part of our commitment to develop the next generation of national geological talent, we welcomed eight undergraduate students from two Saudi Universities for our first Summer Internship Program in the Kingdom. These students are currently participating in our planned exploration activities at Jabal Sahabiyah including our geochemical program. Permits for drone-borne surveys have been submitted.
Next in Saudi Arabia
Morocco
At Alouana our activity has been focused on drill-permitting and awaiting results of infill soil and drainage geochemical sampling from neighbouring titles.
In terms of acquisitions our interest is focusing on a district hosting three neighbouring properties where we have uncovered some interesting copper and gold potential.
Next in Morocco
CEO Spotlight We invite you to watch our CEO, Tim Coughlin, discuss the upcoming drilling plans, expected news flow, and the challenges our company is currently navigating. |
World Risk Report 2023
MineHutte and Mining Journal Intelligence's latest annual mining investment risk assessment recognises Saudi Arabia for its exceptional mining investment environment. The report provides a valuable tool for comparing investment risks across 121 jurisdictions, based on legal, governance, social, fiscal and infrastructure categories.
The Global Risk Report 2023 highlights Saudi Arabia as a top-performing mining jurisdiction both regionally and globally, with significant improvements in reducing mining investment risk over the past five years, placing it among the top 10 countries with the lowest legal and financial risks.
These favourable results are a consequence of the comprehensive sector reforms initiated in 2018 to attract mining investment.
Upcoming Events
We will be attending the Precious Metal Summit in Beaver Creek from September 10-13.This event presents a perfect opportunity for us to meet and provide you with an update on our latest developments. We look forward to seeing you there
As always, we appreciate your confidence in our vision. Let’s continue building this story together.
Yours sincerely,
Camila Gutiérrez
In Colombia Royal Road Minerals operates through its wholly-owned Colombian companies Minerales Camino Real SAS founded in 2015 and Exploraciones Northern Colombia SAS acquired from previous owners in 2019. In Argentina Royal Road Minerals operates through its wholly owned Argentinian company, Minerales Camino Real Argentina. In Saudi Arabia and Morocco the Company operates through its 50% owned Saudi Arabian registered subsidiary, Royal Road Arabia.
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