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Highlights
- RML is acquiring Remington Capital Corporation, which has an option to acquire the Johnson Creek Tungsten & Antimony Mill, and Antimony Camp properties.
- The acquisition includes processing mill and tungsten stockpiles adjoining RML’s Horse Heaven Project in Idaho, USA.
- The transaction positions RML to fast-track U.S. antimony and tungsten production, and advance government and offtake discussions.
- Once operational, the mill will position RML among the limited number of U.S. companies with in-house processing capabilities for antimony, tungsten, and gold.
- The acquisition is expected to be completed by late November or early December 2025, subject to shareholder approval and due diligence.
Resolution Minerals Ltd (ASX:RML) (OTCQB:RLMLF) has entered into a binding sales and purchase agreement to acquire 100% of Remington Capital Corporation, which holds an option to purchase the Johnson Creek Tungsten & Antimony Mill and Antimony Camp properties in Idaho, USA. The acquisition enhances RML’s downstream capabilities within the Horse Heaven–Perpetua region, a premier U.S. critical minerals corridor.
Strategic Site Adjoining the Horse Heaven Project
The 25-acre site of the processing mill and stockpiles directly adjoins the Horse Heaven Gold-Tungsten-Antimony Project, located beside Perpetua Resources’ AUD 4 billion Stibnite Project. The acquisition includes an antimony and tungsten processing mill, and the mill site includes industrial water rights, storage buildings, mill facility and power infrastructure.
The site also includes two historic tungsten ore stockpiles that were previously mined at the former Golden Gate Tungsten mine, situated at Horse Heaven, but were never processed.
The acquisition is vital for RML, as privately held land in the region is extremely limited. The site will serve multiple purposes, including hosting future processing operations, acting as a central hub for exploration and drilling, and providing space for staff accommodation, storage, core cutting, and other related activities, along with access to industrial water rights.
Acquisition to Accelerate Production and U.S. Supply Chain Capability
The acquisition will offer RML multiple strategic advantages, including the potential to fast-track production of antimony and tungsten, advance U.S. offtake discussions, and increase its eligibility for the U.S. Department of War funding. The move positions Horse Heaven as a potential major hub for U.S. critical metal production, aligning with government priorities to secure domestic antimony supply for defense applications.
The acquisition also positions RML to pursue strategic partnerships aimed at further downstream integration, including opportunities in smelting, refining, and product offtake agreements. Additionally, the site provides a well-located base camp to support the company’s plans to boost its exploration, mining, and processing operations.
Details of the Transaction
Under the agreement, RML will reimburse USD 50,000 to Remington in relation to a deposit paid in respect of the option. Upon exercising the option, the company will pay USD 1.25 million to the current property owner and will also issue 70 million shares and 35 million options to Remington shareholders as consideration, subject to shareholder approval.
A 10% facilitation fee will be paid to Oakley Capital Partners Pty Ltd through the issue of 7 million shares and 3.5 million options, or a cash equivalent if approval is not granted. The completion is anticipated by late November or early December 2025, funded from existing cash reserves.
Once operational, the Johnson Creek Mill is expected to make RML one of the few U.S.-based companies with its own in-house processing capabilities.
RML Shares Rally
RML shares were trading 7.23% higher at AUD 0.089 per share at the time of writing on 31 October 2025.
