American West Metals Raising $7m to Support West Desert Indium Project Development
American West Metals (ASX: AW1) has received firm commitments to raise $7 million to advance its high-class West Desert indium project in Utah.
The project’s reputation as one of the largest and highest-grade undeveloped indium resources in the US helped American West receive strong support from institutional, sophisticated, and professional investors—including globally renowned Tribeca Investment Partners, which has taken $2m of the placement.
The company will use the new funds on its future drilling plans for testing of follow-up targets at West Desert for indium, gallium, silver, and other critical metals.
Significant Exploration Upside
The mineralisation at West Desert remains open along a 2.5-kilometre mine corridor, with American West currently defining targets for its follow-up drilling program.
Managing director Dave O’Neill said that – with only 10% of the project area drilled and gallium and molybdenum not yet in the JORC resource – the company believes there is outstanding potential for resource growth and value creation at West Desert.
“West Desert is a rare critical metals opportunity that is strategically located […] in Utah, one of the world’s top mining jurisdictions by the Fraser Institute,” he said.
“Work has begun to exploit this immediate opportunity with drill permitting in place.”
Domestic Supply Chains
Indium is crucial to the US critical metals supply pathway due to its use in the production of semi-conductors, solar panels, military equipment, smartphones, and other high-end technology products.
“The Trump administration has sent a clear message that it will support the establishment of domestic supply chains for critical metals,” Mr O’Neill said.
“With the US being a 100% importer of indium and gallium, West Desert stands out as an opportunity to contribute to the domestic supply chain that will eliminate the reliance on foreign sources of these critical metals.”
American West is continuing to engage with various US government agencies to explore opportunities for funding support to advance the project.