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Resolution Minerals (ASX:RML) has seen its shares pop nearly +16% in Friday afternoon trades after moving to acquire a processing mill for its antimony-gold project in the U.S., as well as tungsten stockpiles – perhaps putting RML into a position where it could give Almonty a run for its money.
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The processing mill is located directly adjacent RML’s existing Horse Heaven gold-antimony project in Idaho, and the company points out that nearby lies a stibnite (antimony) mine worth some A$4B managed by Perpetua Resources – indicating that the company’s acreage could be equally fertile.
The mill in question, “once… running,” will incorporate existing storage buildings, power lines, and industrial water usage rights, the company explained.
“The acquisition is critical to RML as there is little to no available private land in the area and the site will provide, among other things, a location to conduct future processing activities [and] a hub for exploration and drilling activities.”
However, it was also the pickup of tungsten assets that interested the market on Friday. All cards in order, Resolution would like to be fast-tracked to producing both critical metals antimony/tungsten (heavily required in defence), with U.S. Department of War – formerly Defence – funding a possibility.
“I see this as a pivotal point for RML to establish itself as a leader in solving the U.S. Administration’s immediate need to secure antimony and tungsten for its national security requirements,” RML Adviser Brett Lynch said.
“Horse Heaven is a unique deposit as it has demonstrated strong evidence of 3 valuable commodities present on site – antimony, tungsten and gold. This move toward production status catapults RML into pole position when approaching the U.S. Government for permitting funding and offtake negotiations.”
RML last traded at 9.6cps.
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