Resolution Minerals (ASX: RML)
Investment thesis: Resolution Minerals is a US‑focused critical‑minerals explorer with a strategically located Horse Heaven project in Idaho. FAST‑41 federal permitting status and a pending NASDAQ dual listing create a potential step‑change in de‑risking and access to US capital and government funding, while surging antimony and tungsten prices underpin near‑term value catalysts.
FAST‑41 designation for Antimony Ridge — a White House‑level permitting facilitation that signals national strategic significance.
NASDAQ dual listing in progress (Form F‑20 filed) — opens access to US institutional capital and DPA/EXIM funding pathways.
Phase 2 drilling at Golden Gate (45 holes, ~13,700m) starting May 2026 and a targeted maiden JORC MRE in Q1 2027 — primary resource build milestone.
Near‑term monetisation optionality from a 2,000t tungsten stockpile (assays ~1.85% WO3) plus metallurgical and volumetric work in H1–H2 2026 amid a multi‑hundred percent commodity re‑rating.
Recommendation: BUY with a A$0.20 12‑month price target (~284% upside from A$0.052). The convergence of permitting, listing, drilling and policy‑driven demand creates a dense catalyst calendar the market may be underweighting.
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