Great Northern Minerals Acquires Catalyst Ridge Rare Earth-Antimony Project in Mountain Pass District

Great Northern Minerals (ASX: GNM) has announced its proposed acquisition of the Catalyst Ridge project in the “hot” Mountain Pass district in California’s Mojave Desert.

Home to the only operational facility in the US for mining and processing rare earth elements (REEs), Mountain Pass has been attracting significant new exploration interest and investment since the Trump administration made critical minerals a major political focus.

Comprising 119 mineral claims prospective for REEs and antimony, Catalyst Ridge sits less than 6 kilometres from Dateline Resources’ (ASX: DTR) Colosseum project and is a neighbour to Bayan Mining and Minerals (ASX: BMM), Locksley Resources (ASX: LKY), and leading US REE company MP Materials.

US Government Support

Due to concerns over China’s domination of REE and antimony markets, the strategic critical metals hub surrounding Catalyst Ridge is receiving support through a number of US government initiatives, as well as investment funding from the Departments of Defense and Energy, aimed at securing domestic rare earth supply chains.

“This area is emerging as the focal point of the US critical minerals supply chain, with major recent developments reinforcing its importance,” non-executive chair Eddie King said.

Tech behemoth Apple recently committed to purchasing rare earth magnets from MP Materials, with the two planning to establish a rare earth recycling operation immediately adjacent to the Catalyst Ridge project.

“With these global technology and defence leaders operating next door, Catalyst Ridge is strategically positioned to capitalise on the surging US demand for rare earths and antimony, and to advance its exploration program in a market increasingly focused on secure, local supply,” Mr King added.

Capital Raising

To help fund the acquisition, Great Northern is planning to raise $2.6 million via a two-tranche share offer of 200 million shares at an issue price of $0.013.

The company will initially issue up to 38.66 million shares, with the balance of 161.34 million shares issued separately, subject to shareholder approval at an extraordinary general meeting in mid-October.

Participants will also receive one free-attaching listed option per every three shares subscribed for, exercisable at $0.02 and expiring two years from the date of issue.

In addition to Catalyst Ridge, Great Northern continues to progress its existing assets in Douglas Creek and the Golden Ant joint venture (JV), working with JV partner Great Eastern Gold to mobilise technical consultants for an imminent exploration program.