Mount Ridley Mines (ASX:MRD) has been admitted to the OTC Markets platform in the US under the ticker ‘MRDMF’ to broaden its capital market exposure.
The company holds three JORC 2012 inferred mineral resource estimates at its Grass Patch Complex, located approximately 25km from the deepwater port of Esperance.
The resources include a heavy rare earth elements (HREE) resource of 122.5 million tonnes (Mt) at 889 parts per million (ppm) total rare earth oxides (TREO) with 41% heavy rare earth oxides composition; a scandium resource of 367.98Mt at 57.2 ppm scandium; and a gallium resource of 838.7Mt at 28.3 ppm gallium.
Mount Ridley notes all three commodities are formally designated as critical minerals by the US Government, with its scandium resource representing one of the largest defined scandium resources globally.
The company maintains an institutional relationship with Lawrence Livermore National Laboratory (LLNL), providing direct connectivity to the US national laboratory and critical minerals supply chain ecosystem.
Managing Director and CEO Allister Caird says the US is the most strategically important capital market for critical minerals.
“The alignment between what MRD holds in the ground and what the US needs from its allies is clear,” Caird says.
“OTC Markets quotation gives US investors a direct and accessible entry point to our story.
“Combined with our institutional relationship at LLNL and our proximity to a deepwater export port, we believe MRD is well placed to attract long-term strategic capital from the US as we advance our downstream program.”
Mount Ridley confirms it will retain its primary listing on the ASX.
Mount Ridley Mines is a critical minerals explorer focused on the discovery and development of HREEs, gallium, and scandium across its projects in Western Australia.
Write to Paula Fabe at Mining.com.au
Images: Mount Ridley Mines
