Resolution Minerals (ASX:RML) Eyes NASDAQ as Horse Heaven Talks Conclude

2 min read | August 24, 2025 06:00 PM PDT | By Sonal Goyal

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Resolution Minerals (ASX:RML) Eyes NASDAQ as Horse Heaven Talks Conclude — Image source: Company update

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Highlights

Resolution Minerals and Snow Lake have mutually agreed to end talks regarding the Horse Heaven Project.

No material issues were found during due diligence by either party.

Snow Lake’s AUD 225 million offer was deemed less attractive due to its asset-level structure and scrip-heavy terms.

Resolution Minerals will continue to assess potential strategic options for the project and progress its planned NASDAQ listing.

Resolution Minerals Ltd (ASX:RML, OTCQB:RLMLF) has announced that, by mutual agreement, it will not proceed with the non-binding offer from Snow Lake Resources Ltd (NASDAQ:LITM) for the Horse Heaven Project. Although due diligence completed by both companies raised no material concerns, they were unable to agree on key commercial terms.

Exclusivity Period Expires Without Agreement

The short-term exclusivity period has expired without the execution of any binding transaction documents. Resolution Minerals has confirmed that it will continue to explore strategic alternatives for the project.

Snow Lake’s AUD 225 million indicative offer was structured at the asset level rather than the company level, making it less tax effective for Resolution Minerals and its shareholders. Moreover, the predominantly scrip-based proposal, including pricing and escrow conditions, did not align with the company’s preference for a significant cash component. The company stated that it remains open to renewed discussions should Snow Lake present more attractive terms.

Strategic Alternatives and NASDAQ Ambitions

The company remains confident in the long-term value of the Horse Heaven Project and is actively assessing other avenues that may deliver enhanced outcomes for shareholders.

Meanwhile, Resolution Minerals is advancing its plans for a potential NASDAQ listing. This follows the company's successful admission to trading on the OTCQB market last week. The OTCQB listing marks an important milestone in expanding the company’s visibility among North American investors and building a global investor base.

RML shares were trading at AUD 0.060 per share at the time of writing on 25 August 2025.

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