RML - Brett Lynch joins the board ahead of NASDAQ listing, drilling AND Fast-41 permitting update
Our US critical minerals and gold Investment Resolution Minerals (ASX: RML) just brought onboard Brett Lynch as a Non-Executive Director.
Brett’s now going from strategic advisor to an official board member.
We covered his appointment as strategic advisor here.
We think Brett’s appointment comes at just the right time for RML with all of the following coming in the next ~60 days:
- A NASDAQ listing - RML in its April 4th announcement said it would happen within the next 45 days.
- Drilling to start on Gold/Tungsten discovery from last year - RML said that would start in May.
- Permitting timelines for FAST-41 status Antimony Ridge project - the US government has a permitting timeline due for the project on or before 21st of April (in the next ~4 days). That could unlock a 250 hole drill program on the asset.
So a very big second half of the year coming up for RML.
The reason we like Brett coming onboard is because he was behind Sayona Mining which after merging listed onto a US exchange for its lithium asset in Canada.
We note Brett came on board with performance incentives tied to RML’s share price reaching the 10-25c range, here are Brett’s performance rights from back in July:
(source)
What else has RML been up to recently?
RML has had a big few weeks:
- FAST-41 status from the US government for its Antimony Ridge project - only ~50 projects have ever received this status. (source)
- Produced antimony trioxide from its project, proving it can be a viable domestic US antimony source again. (source)
- 3D geological modelling identified ~100 high-grade veins across a 1,000m x 700m area at Antimony Ridge. (source)
- Phase 2 drilling at its Golden Gate gold discovery (45 holes, 13,700m) starting in early May. (source)
You can see our recent deep dive article following the FAST-41 project designation which covers the above updates: RML gets FAST-41 status from US government to fast track nationally strategic project. NASDAQ listing in 45 days.
What we want to see next from RML
🔲 Phase 2 drilling at Golden Gate gold discovery (gold & tungsten)
RML has permits for a 45-hole follow-up program - up to 45,000 feet (13,700m) of core drilling at Golden Gate.
This is the program that should lead to a maiden JORC resource later in 2026.
RML has confirmed drilling is expected to begin early next month. (source)
Here are the milestones we are tracking:
- ✅ Phase 2 permits secured (45 holes, 13,700m)
- 🔲 Phase 2 drilling commences (early May)
- 🔲 Phase 2 assay results
- 🔲 Maiden mineral resource estimate (targeting Q1 2027)
🔲 First ever drill program at Antimony Ridge (FAST-41 status now in place)
We also want to see RML drill test Antimony Ridge for the first time.
RML is planning up to 250 holes on the project.
Here are the milestones we are tracking for that project:
- ✅ FAST-41 status granted by White House
- ✅ Plan of Operations submitted to US Forest Service
- 🔲 FAST-41 permitting process - (RML expects to have a firm timetable laid out “on or before the 21st of April).
- 🔲 Bulk sampling of near-surface high-grade antimony from existing workings
- 🔲 Drilling of up to 250 holes to define scale of antimony system
🔄 NASDAQ listing
RML has already submitted its registration statement to the SEC and launched its ADR facility through Bank of New York Mellon.
RML expects to have its listing completed in “approximately 45 days”:
(source)
🔄Tungsten processing opportunity
After RML’s latest tungsten announcement, we are also looking forward to seeing RML progress its tungsten strategy.
Here are the milestones we are tracking:
- ✅ Johnson Creek Mill and tungsten stockpiles acquired
- ✅ High-grade tungsten assay confirmed
- 🔄 Sampling and assay program to define stockpile grade/tonnage
- 🔲 Offtake discussions with the US government and/or commercial buyers
- 🔲 Metallurgical test work and process flowsheet development
- 🔲 Mill refurbishment assessment
