HIGHLIGHTS
- The processing mill and stockpiles sit on 25 acres of private land directly adjoining RML’s Horse Heaven Gold-Tungsten-Antimony Project, situated adjacent to Perpetua Resources Inc’s A$4 billion Stibnite Project in Idaho, USA.
- Acquisition includes antimony and tungsten processing mill located on the land, including existing tungsten stockpiles, to fast-track production capability in the U.S.
- Acquisition delivers RML several potential material strategic advantages including:
- Potentially fast track to antimony and tungsten production
- Allows RML to advance U.S. offtake discussions
- Potentially elevates RML’s position for fast-tracking permitting and obtaining U.S. Department of War (DoW) funding
- Positions Horse Heaven as a potential major U.S. hub for critical metal production
- Springboard for solving the Pentagon’s need to secure immediate U.S. supply of antimony for defense applications
- Enables RML to seek partnerships for further downstream integration such as smelting, refining and product offtakes
- Secures a strategic location for base camp to facilitate anticipated expansion in exploration, mining and processing activities
- The past-producing processing mill site includes a mill facility, storage buildings, industrial water rights, and electrical power.
- The mill, once it is up and running, will make RML one of the few antimony, tungsten and gold companies in the U.S. with its own processing capability.
- The acquisition is critical to RML as there is little to no available private land in the area and the site will provide, among other things, a location to conduct future processing activities, a hub for exploration and drilling activities, suitable land for staff accommodations, facilities for storage, core cutting and related activities and industrial water rights.
- 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.
I see this as a pivotal point for RML to establish itself as a leader in solving the U.S. Administration’s immediate need to secure antimony and tungsten for its national security requirements. Horse Heaven is a unique deposit as it has demonstrated strong evidence of 3 valuable commodities present on site – antimony, tungsten and gold. This move toward production status catapults RML into pole position when approaching the U.S. Government for permitting funding and offtake negotiations.
