Resolution Minerals (ASX: RML) has announced plans to complete a secondary listing on the US Nasdaq exchange within the next few months, at a time of growing regional investment in the sector.
The company has submitted a registration statement with the US Securities and Exchange Commission (SEC) and established an American depositary receipt (ADR) facility on the OTCQB venture market, where each ADR represents 200 ordinary shares.
The facility will permit US institutions, brokers, and investors to buy Resolution shares and settle each transaction in US dollars.
It will enable Resolution to raise equity from a broader range of US investors, use the ADRs as mergers and acquisitions currency for corporate transactions, and increase visibility for US government funding and development incentives.
Complementary US Listing
The Nasdaq listing – which is intended to complement Resolution’s listing on the Australian Securities Exchange – will see it join the likes of European Lithium (ASX: EUR) and Almonty Industries (ASX: AII) among the few dual-listed Australian critical minerals explorers.
Resolution managing director Ari Zaetz said it would strengthen the company’s emerging status as a potential future supplier of critical metals for US and allied defence needs.
“The recent gold discovery at Golden Gate and encouraging high grade antimony results, as well as [our] plans to develop our tungsten, have driven demand from all corners of the US investor community,” Mr Zaetz said.
“Amid rising global tensions, record high prices for gold, silver, tungsten and antimony, investor interest from the US has been surging in recent times, making our Nasdaq listing and ADR facility very timely.”
64North Project Divestment
Resolution has completed the sale of the non-core 64North project in Alaska to a wholly-owned subsidiary of Northern Star Resources (ASX: NST).
The $2.2 million transaction followed a review of Resolution’s project portfolio, along with a decision to monetise the asset and allocate additional funds towards advancing the ++Horse Heaven++ project in Idaho.
Proceeds will support a Phase 2, 57-hole drilling campaign at the Golden Gate target and the continuation of tungsten exploration and development activities at the historic Golden Gate mine.
Resolution will also apply the funds toward metallurgical test work on samples from the Antimony Ridge project and completion of the Johnson Creek antimony-tungsten acquisition.
