OD6 - metwork shows acid-grade fluorspar suitable for AI chip production, batteries and defence
Our USA fluorspar Investment OD6 Metals (ASX: OD6) has just unlocked another piece from the historic dataset it acquired earlier this month - this time on the processing side.
Firstly, OD6 is hosting a webinar today at 12:00PM AEST to update on the project and progress made - register for the Webinar here: OD6 Webinar registration link
Today OD6 showed that metwork done back in 1957 on material from two of the old open pits mined on the project COULD be processed into acid-grade fluorspar.
What is Acidspar and why is today’s announcement actually important?
Because acid-grade fluorspar is what's used in AI chips, nuclear fuels and defence tech…
It’s also what the US government is looking for and gave an open-ended US$250M purchase order to another small cap fluorspar company in the US…
First a fluorspar 101:
Over 97% grade is known as ‘acidspar’. 60-96% grade is known as ‘metspar’.
Both sell for similar prices BUT acidspar is the type of stuff the US government is chasing.
Especially right now with the war happening in the Middle East.
Because, fluorspar is one of nine materials with the highest shortfall risk for the US military in a major conflict scenario. (source)
It's what goes into hydrofluoric acid production that then goes to produce AI semiconductor chips, advanced battery tech, nuclear fuel processing, plus aerospace and defence applications.
(source)
Over the last ~4 months, US government agencies (mostly military related) has:
- (on 20th of January 2026) (source), AND; Issued a US$250M contract to purchase fluorspar from a pre-revenue micro cap - Ares Mining. (issued by the US Pentagon)
- (on 30th January 2026) (source). Included fluorspar on its list of critical minerals that are a priority for sourcing (US Defence Logistics Agency DLA)
Two signals within the last 4 months from the US government trying to incentivise domestic production.
Why did the Pentagon give a US$250M contract to a Canadian small cap?
Because Ares was the only fully-permitted, ready-to-restart fluorspar mine in the United States.
Ares' project in Utah is currently designated as the sole domestic supplier of acid-grade fluorspar to the US government. (source)
Ares is now capped at ~A$102M and that contract for up to US$250M from the Pentagon is worth potentially ~2.3x its market cap.
The interesting part is the way the contract is structured. The Department of War orders the product as Ares delivers it.
No acidspar produced = no payment.
We think that now OD6 can show its metwork results and put itself in the conversation as an alternative domestic supplier of fluorspar…
AND maybe… the Department of War could issue a similar contract to OD6.
It’s hard to see the DoW put all its eggs in one basket (which is one small Canadian listed company) for the supply of a critical mineral that it is 100% reliant on imports for.
We already know OD6’s assets produced fluorspar back in the 1950s.
We also know OD6 has historic drill results that are right up there with Ares’ too:
And now we know material from OD6’s project can be processed into acid-spar grade fluorspar:
(source)
In an announcement last month, OD6’s Managing Director commented on the exact thing we are talking about how proving OD6 could produce acidspar…
...COULD mean OD6 can apply to the White House for FAST41 status for its project:
(source)
FAST-41 is a special accelerated USA permitting and development framework for projects considered “critical” and essential for US national security. (more on Fast-41 status here)
Only ~50 projects have been awarded FAST-41 status by the US government since the program's inception in 2015.
At a very high level its a program designed to cut red rape and get projects online to reduce US reliance on foreign adversaries for the supply of critical minerals.
Especially during times of war.
We think that any US government engagement OR FAST-41 status could be a game changer for OD6.
What's next for OD6?
🔄Complete the acquisition of its US fluorspar project
We want to see OD6 complete the acquisition of the US fluorspar project. This will give it full unencumbered access to help it progress the asset.
Milestones:
- 🔄 Due diligence process completed
- 🔲 Option to acquire exercised
- 🔲 Acquisition completed
🔄 Target generation for US fluorspar project
We want to see OD6 sample in and around the old workings on its project, run some geophysics and generate high priority drill targets ahead of its maiden drilling program.
Milestones:
- ✅ Rock chips
- ✅ Channel sampling
- ✅ Historic drill results
- ✅ Metallurgical testwork showing OD6’s material can be processed to acid-spar grades.
- 🔄 NEW: Digitisation of scanned paper maps and cross-sections into a 3D geological model
- 🔄 Soil/channel sampling
- 🔲 Geophysics
- 🔲 Drill targets generated
OD6 has taken samples which will be sent to Tomra in Germany to progress met testwork to verify and hopefully expand on the historic works, so we wait for an update on when this gets underway. (source)
🔲Strategic / Government Engagement for fluorspar in the US
- 🔲 Engage with US Department of War, Department of Energy, or DLA regarding domestic fluorspar supply
- 🔲 Explore strategic partnerships or offtake discussions
