Resolution Minerals Ltd has taken a significant step toward expanding its US market presence, lodging a confidential registration statement with the US Securities and Exchange Commission as it works toward a secondary listing on Nasdaq.
The company has also established a Level 1 American Depositary Receipt (ADR) facility, which is expected to go live on the OTCQB market this week, giving US investors direct access to Resolution shares in US dollars through domestic brokerage platforms.
The move comes amid elevated geopolitical tensions and record prices for gold, silver, tungsten and antimony, which have driven growing US investor interest in defence, critical and precious metals exposure.
“The recent gold discovery at Golden Gate, and encouraging high-grade antimony results, as well as plans to develop our tungsten have driven demand from all corners of the US investor community. Amidst rising global tensions, record high prices for gold, silver, tungsten and antimony, investor interest from the US has been surging in recent times, making the Nasdaq listing and ADR facility very timely,” RML’s managing director Ari Zaetz said.
Nasdaq pathway opens access to deeper US capital markets
Resolution has confidentially submitted a Form F-20 registration statement to the SEC, with the aim of completing a Nasdaq dual listing within the next few months. The application remains subject to review by both the SEC and Nasdaq, and timing is not guaranteed.
If successful, the listing would place Resolution alongside a small group of Australian critical minerals companies with a Nasdaq presence, strengthening its profile as a potential future supplier of critical metals into US defence and strategic supply chains.
The proposed Nasdaq ticker is RML.NASDAQ.
ADR facility simplifies US investment and trading
In parallel with the Nasdaq process, Resolution has launched a Level 1 ADR facility, with each ADR representing 200 ordinary shares. The program is managed by BNY Mellon, with Grant Thornton appointed as auditors for Nasdaq reporting purposes.
The ADR structure allows US institutions, brokers and retail investors to buy Resolution exposure via US brokers, trade during US market hours and settle transactions in US dollars, without trading directly on the ASX.
Resolution expects the ADR facility to broaden its US investor base, improve liquidity and increase its visibility in a key strategic market for antimony and tungsten.
Strategic flexibility ahead of potential Nasdaq listing
Once listed on Nasdaq, Resolution said the ADR facility could also support future capital raisings, facilitate corporate transactions using ADRs as M&A currency and improve access to US broker research coverage.
The company also noted potential alignment with US government funding and development initiatives tied to critical minerals supply chains.
Non-core Alaska asset sold to fund Idaho focus
Alongside its US market expansion, Resolution has completed the sale of its non-core 64North Project in Alaska to a wholly owned subsidiary of Northern Star Resources Ltd for US$1.5 million (approximately A$2.2 million).
Cash proceeds have been received, with funds to be redirected toward advancing the company’s Horse Heaven Project in Idaho.
Resolution has shifted its focus away from 64North following a portfolio review, having held the project since 2019.
Exploration and development momentum at Horse Heaven
Proceeds from the divestment are expected to support multiple workstreams at Horse Heaven, including follow-up drilling at the Golden Gate target after a successful Phase 1 program, with a 57-hole Phase 2 drill campaign planned for H1 2026.
The company is also progressing the acquisition of the historic Johnson Creek Antimony and Tungsten Mill, which includes approximately 2,000 tonnes of previously mined tungsten ore, and advancing metallurgical test work on ultra-high-grade antimony samples of up to 48.7% Sb from Antimony Ridge.
Permitting activities are ongoing, with drilling and bulk sampling planned at Antimony Ridge subject to approvals, alongside continued work under FAST-41 project initiatives.