Australian junior Resolution Minerals has secured firm commitments for a A$25.1-million placement, attracting support from high net worth and institutional investors, as it positions itself to become a key player in the US critical minerals sector.

The placement, priced at 5c a share, will be conducted in two tranches. Tranche 1, comprising A$18.4-million, is expected to settle later this month, while Tranche 2, totalling A$6.7-million, will be subject to shareholder approval at a meeting anticipated in November. Investors will receive one option for every two shares, exercisable at 10c until November 2029.

Resolution said the raise had “institutionalised the company’s register”, with A$7.75-million cornerstoned by international and local investor groups, including John Hancock’s Family Office, Astrotricha Capital SEZC and S3 Consortium. Directors will also participate for A$200 000, subject to shareholder approval.

“We are delighted with the level of interest in RML and with the high quality of investors who believe in our vision, potential and upside of Resolution’s Horse Heaven project. We eagerly look forward to progressing work on both the Golden Gate and Antimony Ridge targets at Horse Heaven. The recent rock chip results are extremely encouraging, and we are hoping that the current drilling programme, which is well underway, will demonstrate to the market the significant potential of our highly prospective antimony, gold and tungsten project," said chairperson Aharon Zaetz.

"With the proposed listing of RML on the Nasdaq, we are aiming to be trading shoulder to shoulder with the likes of our next door neighbour, Perpetua Resources, and other US critical metals giants such as MP Materials Inc.”

The company said proceeds would strengthen its balance sheet, fully fund near-term work programmes and working capital requirements, and support its proposed Nasdaq listing. Funds will also be directed towards downstream critical minerals processing studies.