Royal Road Minerals Ltd (TSX-V:RYR, OTC:RRDMF) president and CEO Tim Coughlin joined Proactive's Stephen Gunnion with news that it and MSB Holdings have been awarded preferred bidder status for the Jabal Sahabiyah Exploration License in the Kingdom of Saudi Arabia’s Asir Province.
Coughlin explained the competitive tender process in Saudi Arabia, highlighting its emphasis on technical capability, financial strength, and a strong ESG track record. Royal Road Minerals' success in this process underscores its proficiency in these areas. The company, having independently identified the area through remote targeting before it was announced for tender, demonstrates its proactive and strategic approach in exploration.
Coughlin detailed the exploration license's initial five-year term, renewable for up to 15 years, with a commitment of $5.5 million over the first five years. The exploration plan is thorough, leveraging the company's advanced geophysical equipment and technology.
Short-term goals for the project include establishing drill targets by Q4, with drilling dependent on the development and clarity of these targets. Additionally, Coughlin mentioned Royal Road Minerals' broader plans in Saudi Arabia, including a comprehensive reconnaissance approach utilizing new data from the Saudi Geological Survey.