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Red Mountain Mining (ASX:RMX) has formally completed its first step into U.S. markets, with the “accelerating” Australian explorer to start trading on the OTCQB from 9:30AM Monday in New York. (That’s 10:30PM this evening here).
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This content has been prepared as part of a partnership with Red Mountain Mining Ltd and is intended for informational purposes only.
The Aussie explorer got news that its U.S. Stock Exchange listing application had been successful, with all regulatory approvals signed and sealed.
This, the company declared today, will establish more direct trading access for U.S. investors and give Red Mountain a foothold in the OTC Markets Group’s US$478 billion annual trading volume (last tracked 2024).
“Red Mountain continues to aggressively seek further opportunities to expand its portfolio of high-quality strategic metals projects in tier-one U.S. mining jurisdictions with a goal of building a portfolio of assets to leverage what is an unprecedented critical shortage of Western supply,” the company wrote today.
Red Mountain is also hoping it will now earn “increased visibility within the U.S. Critical Minerals strategic partnership network” as it continues to expand.
This is particularly important for the ambitious Oz explorer because it wants a slice of the $355 million pie the U.S. Department of Energy unveiled on November 14 for companies in the critical minerals sector that can “advance and scale mining, processing, and manufacturing technologies.”
Red Mountain already has a slew of projects it will be using to sell U.S. investors on its offerings, not least Yellow Pine in Idaho, which lies less than two kilometres from Perpetua Resources’ famed Silver Dollar dig sites.
The company is also working on the Utah Antimony Project, which is directly adjacent to Trigg Minerals’ (ASX:TMG) Antimony Canyon in the district.
Back home, RMX’s main feather in the cap is the Armidale Antimony-Gold Project in the New England Orogen. There, the explorer’s already raked in 39.3% antimony through drilling that wrapped up in October.
RMX heads into Monday’s morning trade at 3cps.
In the U.S., the company’s heralding a weighted 4.2 cent average price.
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