What is the story about?
What's Happening?
Resolution Minerals has raised $25.1 million through a placement to fund exploration at its Horse Heaven Antimony Project in Idaho, USA. The placement will be conducted in two tranches, with shares priced at $0.05 each. The first tranche will offer 422 million shares, while the second tranche will include 80 million shares and 251 million attaching options, pending shareholder approval. The placement has attracted interest from high net worth individuals and global institutions.
Why It's Important?
The funding will enable Resolution Minerals to advance its exploration efforts at the Horse Heaven Project, which targets antimony, gold, and tungsten. These minerals are critical for various industrial applications, including electronics and renewable energy technologies. The successful placement underscores the project's potential and the strategic importance of securing domestic sources of critical minerals in the U.S. market.
What's Next?
Resolution Minerals plans to continue its drilling program at Horse Heaven, with a focus on the Golden Gate and Antimony Ridge prospects. The company is also considering a potential listing on the NASDAQ to enhance its visibility and access to capital markets. A general meeting in November will address shareholder approvals and further investment opportunities.
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