++Red Mountain Mining (ASX: RMX)++ has announced it is working with a US-based advisory team on the final stages of a listing on the mid-tier OTCQB equity market.
The listing builds on the company’s aggressive acquisition strategy that has seen it secure the ++Yellow Pine++, ++Utah++ and ++Silver Dollar++ antimony assets in Tier-1 mining districts adjacent to high-value, major developments such as Perpetua Resources' Stibnite project in Idaho and ++Trigg Minerals’ (ASX: TMG)++ Antimony Canyon project in Utah.
Red Mountain has also made significant progress at multiple prospects across its ++Armidale antimony-gold project++ in New South Wales, which sits near ++Larvotto Resources’ (ASX: LRV)++ Hillgrove project—Australia's largest antimony deposit, and the target of a recent acquisition proposal by United States Antimony Corporation.
Increased US Interest
After several US investment banks showed encouraging interest in the company, Red Mountain believes the planned listing will provide numerous value-accretive opportunities.
Along with positioning Red Mountain alongside its US peers in the critical minerals sector, potentially further improving valuation metrics and attracting specialised US resources investors, the listing will providing US retail and institutional investors direct access to invest and trade in its shares on the OTCQB under the US stock code RMXFF.
The company also expects the move to improve its strategic alignment with the US government’s push to secure a domestic supply of critical minerals, and better positioning it to benefit from strong US financial support for critical mineral projects targeting antimony.
Global Antimony Production
China, Russia, and Tajikistan control approximately 90% of global antimony production, creating significant supply risks for Western nations such as Australia and the US that do not have any producing antimony mines.
The metal – which plays a critical role in defence applications, including armament manufacture and semiconductor technologies – is experiencing increased global demand.
With China’s current export ban creating acute supply shortages and the antimony price recently reaching US$60,000 per tonne, the US government has issued emergency declarations and announced significant funding for domestic production.
This month, the US and Australian governments executed a ++critical minerals framework agreement++ to invest a minimum US$1 billion to support the supply of raw and processed critical minerals and rare earths crucial to addressing commercial and defence industry needs.
