It is barely three weeks since shares in Raiden Resources, previously known as Subzero Group, resumed trading on the ASX and already they are close to a deal with Rio Tinto.
Rio is expected to be announced as Raiden's new partner in a Serbian exploration venture, which could be formalised as early as Wednesday.
Rio has growing interest in Serbia, given the nation is home to its Jadar borates project, which in recent times has created more excitement for its potential by-product lithium.
But it's neither lithium nor borates that have attracted Rio to Raiden, rather it is the potential to find copper and gold in Raiden's Serbian tenements.
If the deal is taken to its full extent, Rio would fund $US31.5 million worth of exploration on Raiden's acreage to assume 75 per cent ownership of the tenements.