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Highlights
- Resolution Minerals has secured firm commitments to raise AUD 20 million through an institutional placement backed by major global investors.
- The raise was backed by Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund.
- Funds will support drilling, metallurgical work, and permitting at Horse Heaven.
- Phase 2 drilling at Golden Gate begins in May 2026 targeting a 2027 resource estimate.
- The company is preparing for a planned NASDAQ listing.
Resolution Minerals Ltd (ASX:RML) (OTCQB:RLMLF) has received firm commitments for AUD 20 million (before costs) capital raise through an institutionally led placement, marking a key step in advancing its U.S.-focused critical minerals portfolio.
The funding is expected to support exploration drilling, metallurgical work on antimony and tungsten, and permitting activities across its Horse Heaven project, while aligning with broader plans to expand its presence in U.S. capital markets.
Institutional Backing Drives Capital Raise
Resolution Minerals confirmed that the placement attracted participation from institutional and sophisticated investors, with cornerstone support from Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund. The capital raising, at AUD 0.07 per share, indicates a 6.3% premium to the 20-day VWAP and a 12.5% discount to the last trading price of AUD 0.08 as on 20 April. The capital raise is structure in two tranches, with the second phase subject to shareholder approval.
The placement also includes one free attaching listed option for every three share issued with an exercise price of AUD 0.10 and expiry due on 30 November 2029, subject to shareholder approval.
Advancing Critical Minerals Strategy in the U.S.
The company continues to develop its U.S.-based portfolio at a time of increasing focus on domestic supply chains for critical minerals. The Horse Heaven Project, which hosts antimony, tungsten, and gold mineralisation, has received FAST-41 status from the White House, a designation intended to streamline permitting processes, including an application for nearly 250 drill holes and bulk-sampling.
The company also confirmed downstream processing capabilities by achieving high-purity antimony production of 99.38 wt% antimony trioxide. Further optimisation work using pyrometallurgical and hydrometallurgical methods is ongoing, with additional results expected in the near term.
In parallel, the company completed the acquisition of the Johnson Creek Tungsten and Antimony Mill (believed to contain around 2,000 tonnes of tungsten ore), along with associated infrastructure and stockpiles, supporting its operational footprint in the United States.
Exploration Expansion at Golden Gate
At the Golden Gate prospect, a Phase 2 drilling program is anticipated to begin in May 2026, comprising up to 45 holes across nearly 13,700 metres. The program aims at defining the extent of gold mineralisation at Golden Gate and Golden Gate South, while also assessing associated tungsten potential.
The upcoming program is expected to contribute toward a maiden Mineral Resource Estimate targeted for the first quarter of 2027, subject to successful outcomes.
Market Expansion and Leadership Update
Resolution Minerals is progressing toward a planned listing on the NASDAQ, which is expected to broaden its investor base and align the company with other U.S.-listed critical minerals producers such as MP Materials Corp, Perpetua Resources Corp, USA Rare Earth Inc, and Energy Fuels Inc.
Additionally, the company updated that Brett Lynch has agreed to join as a Director, bringing a track record of scaling Sayona Mining from micro-cap to a multi-billion-dollar market capitalisation.
RML shares were trading at AUD 0.075 per share at the time of writing on 23 April 2026.
