Royal Road Minerals Ltd (TSX-V:RYR, OTC:RRDMF) CEO Tim Coughlin talked with Proactive's Stephen Gunnion about the company's joint venture in Saudi Arabia, Royal Road Arabia, and its qualification for the country's Exploration Enablement Program. This initiative is designed by the Saudi government to promote grassroots exploration, reimbursing expenses up to $2 million for the first five years of exploration licenses.
Coughlin discussed the significance of this program for the company's Jabal Sahabiyah project, which includes three exploration licenses, all of which qualify for the program. He mentioned that this support is crucial, especially in a financial sector that has largely overlooked early-stage exploration in favour of advanced projects in recent years.
Coughlin emphasised the need for financial sectors to refocus on exploration, citing a recent S&P report indicating that only 14 significant copper discoveries were made in the last decade. He expressed optimism that interest in exploration is reviving, not only from Saudi Arabia but also from other sectors.