Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) will pursue a dual listing on the NASDAQ stock exchange, to join peer-listed companies including MP Materials Corp (NYSE: MP, market cap A$17.3 billion) and Perpetua Resources Corp (NASDAQ: PPTA, market cap A$2.8 billion).
RML has appointed Dominari Securities LLC, a US investment bank part-owned by Donald Trump Jnr and Eric Trump, and Revere Securities LLC as advisors to facilitate the listing, which is designed to provide access to the world’s largest capital market and expand the company’s exposure to US investors, strategic partners and government-linked funding.
Notably, Dominari and Revere were behind the best-performing NASDAQ initial public offering (IPO) of the past decade. Diagnostics company DGNX, which listed in January this year, surged as much as 3,680% from its IPO price at its peak.
RML’s decision follows the company’s imminent over-the-counter (OTC) listing in the United States and supports its strategy to fast-track development of the Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho.
The NASDAQ listing is targeted for the fourth quarter of 2025.
“We are extremely pleased to have Dominari and Revere backing us as we develop our US strategy,” RML MD Ari Zaetz said.
“Their support for our plans and vision to restore the US critical metals supply chain is extremely encouraging. We are also deeply honoured to have the support of a Dominari and Revere that can leverage their extensive networks and relationships to assist with making Resolution and Horse Heaven more visible to the enormous North American investment market and enhance the Horse Heaven project to its full potential. RML being listed on the NASDAQ will stand shoulder to shoulder with other critical mineral miners listed in the US including MP Materials Corp and Perpetua Resources Corp.”
Rationale for NASDAQ dual-listing
Resolution believes a NASDAQ listing aligns with its US-focused strategy and enhances its standing as a potential supplier of critical metals for national defence. The Horse Heaven Project is strategically located next to Perpetua’s high-profile Stibnite Antimony and Gold Project in Idaho.
The company anticipates strong US investor interest given rising recognition of antimony and tungsten’s strategic value, particularly in defence and supply chain contexts. With US government interest in secure domestic supply of critical minerals, RML’s listing is timed to attract institutional and strategic engagement.
Expected benefits from US market entry
A NASDAQ listing is expected to deliver several advantages:
- Access to deep liquidity and broad investor exposure
- Alignment with US strategic and funding initiatives
- Increased valuation and visibility for corporate opportunities
- Broader media and analyst coverage
- Enhanced capital raising flexibility in US dollars
Recent examples include tungsten producer Almonty Industries (ASX: AII, NASDAQ: ALM), which raised US$90 million through an oversubscribed IPO in July.
Advisory engagement terms and equity-based fees
The initial engagement with Dominari and Revere is for six months and will be extended post-listing. The advisors will coordinate investor roadshows, provide strategic analysis, and connect RML with funding partners and institutions.
As consideration, Resolution will issue 79,383,713 ordinary shares — split equally between the two firms — pending shareholder approval. The equity will be escrowed for six months. Additionally, 30 million unquoted options will be issued, exercisable at A$0.1382 and expiring three years from the date of issue.
Horse Heaven project
Located in Idaho, Horse Heaven has a legacy of supplying critical metals to the US government during major wars.
The project lies adjacent to Perpetua’s A$3 billion Stibnite Project and shares a similar geological profile.
RML is committed to restarting operations to help restore a secure US critical minerals supply chain.