RML acquires tungsten plant, infrastructure and stockpiles in the US

Our US critical minerals and gold Investment Resolution Minerals (ASX: RML | OTC: RLMLF) just completed the acquisition of the Johnson Creek Tungsten & Antimony Mine

Last year RML announced it was acquiring this nearby camp and processing plant, along with the stockpiled tungsten ore nearby.

Historically, approximately 2,000 tonnes of tungsten ore were mined from the Golden Gate Mine during WW1, WW2, and the Korean War.

Mining last occurred in the 1980s which is what RML will be looking to follow up - at a time of heightened geopolitical tensions.

Every time there was a kinetic conflict, historically, the US turned to RML’s ground for supply…

Which makes RML’s ground even more relevant now after the events over the weekend (US going to war with Iran).

Tungsten and antimony are both used in the military for munitions (bullets), vehicles and body armour, missiles and radiation shields… At the moment the USA is 100% reliant on imports for both minerals.

And Tungsten prices are trading at all time highs - up ~500% in around 12 months (from ~US$300 per tonne to US$1,775 per tonne).

Here is a chart we found from SMM for tungsten concentrate, up over 400% in ~12 months:

(source)

The area RML acquired covers 25 acres of private land, also including industrial water rights and electrical infrastructure - to the east is $6BN capped Perpetua Resources which is developing its Stibnite Gold Project.

The acquisition of the processing mill and tungsten stockpiles sees RML acquire in house processing capability, so now has a rapid path from explorer to potentially producing.

RML confirmed today that it is intending to look into in-house processing for antimony, tungsten and gold.

RML recently made a gold discovery to the north of its project area which we last covered: RML hits a second gold discovery - ending in mineralisation, across 1.5km of strike

Recently RML also announced that the old geologist from this exact site had joined the team, so they will have all of the local knowledge from the area onboard too, we covered that here.

RML included a picture from the site:

(source)

With China having banned exports while controlling around 75% of the market we think that a near term production opportunity such as this could generate US government interest.

Especially now with the US government is investing large amounts into creating domestic supply chains of critical minerals such as most recently the announcement of the US$12BN Project Vault.

Just as RML’s CEO Craig Lindsay does the rounds in New York, check out what he had to say:

What’s next for RML?

🔲 Next round of drilling

Next, we want to see RML back drilling at its Golden Gate discovery and to also expand the drilling to include a program further south at the Antimony Ridge prospect.

RML confirmed in this announcement that a “Plan of Operation” is being done for done for both which will also cover a much larger drill footprint at Golden gate, aiming for the entire length of the Golden Gate Fault Zone. (source).

So we await for this to be completed, submitted and then approved so drilling can get back underway.

(source)

🔄 Complete NASDAQ listing

Prior, RML has hired Roth Capital to support a NASDAQ listing and recently provided an update on this with the initial paperwork lodged with the SEC. (source)

We covered the Roth partnership in detail here: RML NASDAQ listing is being led by the Roth Capital - early backers of Perpetua Resources

RML very recently posted a quick video from the streets of New York by CEO Craig Lindsay who went over a couple of things RML is working on, including the NASDAQ listing.

He confirmed that there has been quite a bit of interest from from a wide range of investors toward the company, check it out here: