Resolution positioned for US DoW funding following acquisition

Resolution Minerals (ASX: RML) will acquire 100% of the shares in Remington Capital Corporation which holds an option to acquire the Johnson Creek tungsten and antimony mill and antimony camp properties in Idaho, US.

This acquisition would cement Resolution as one of the few US-based antimony, tungsten and gold companies with its own in-house processing capability.

The timing of the acquisition, alongside the US’ aggressive strategy towards critical minerals, is no coincidence. Resolution sees this as a “springboard” for solving the Pentagon’s need to secure immediate US supply of antimony for defence applications.

The company is also looking to position itself for fast-tracked permitting and US Department of War (DoW) funding.

Resolution Minerals senior strategic advisor Brett Lynch comments on the acquisition.

“I see this as a pivotal point for RML to establish itself as a leader in solving the US administration’s immediate need to secure antimony and tungsten for its national security requirements,” he said.

“Horse Heaven is a unique deposit as it has demonstrated strong evidence of three valuable commodities — antimony, tungsten and gold.

“This move toward production status catapults Resolution Minerals into pole position when approaching the US Government for permitting, funding and offtake negotiations.”

The acquisition includes two historic stockpiles of tungsten ore previously mined at the former Golden Gate tungsten mine located at Horse Heaven but never processed. It also includes key infrastructure such as industrial water rights, electrical power and multiple processing and support buildings.