Resolution Minerals to raise A$20m to accelerate US critical minerals strategy
ASX-listed Resolution Minerals has received firm commitments to raise about A$20-million, before costs, through a two-tranche placement of shares to institutional and sophisticated investors at $0.07 a share.
Funds raised will be deployed to accelerate drilling, metallurgical testwork and permitting activities across the Horse Heaven project, in Idaho, in the US, positioning Resolution to advance multiple near-term catalysts across antimony, gold, silver and tungsten.
About 285.7-million new shares will be issued under the placement.
Resolution is advancing a US-based development platform focused on antimony and tungsten at a time of increasing geopolitical focus on securing domestic supply of critical minerals.
“Following a highly successful drilling campaign last year, today’s successful capital raising marks a transformational milestone for the company as it is about to list on the Nasdaq, as well as launch its second drill campaign in the coming weeks.
“Strong tailwinds from the critical minerals sector, as well as the recent FAST-41 status, are a further endorsement of the project’s quality and potential,” says Resolution executive director Aharon Zaetz.
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