Power Minerals (ASX:PNN) has begun a process to list on the OTCQB Market, as part of its strategy to become a “globally recognised developer of heavy rare earths”.
The OTCQB is a mid-level market for smaller or new companies from the US and other countries.
Power Minerals, which has a market capitalisation of $38.85 million, says the dual listing will provide the company with further awareness with US-based investors, as well as visibility with US Government bodies as it intends to explore potential funding and fast-track permitting.
The company has appointed Ellis Martin as its US corporate advisor to lead the engagement with the US market.
Managing Director Mena Habib says since announcing the potential acquisition of the Gamma Project, the company has seen increasing interest from US investors.
“With favourable market sentiment and rising strategic interest in secure supply chains for rare earths generally, Power Minerals is well-positioned to offer US investors access to what we consider to be an exciting potential heavy rare earth project,” Habib says.
Power Minerals executed an option agreement to acquire the project earlier this month. The Gamma Project, located in California, US, is considered prospective for heavy rare earths.
Power Minerals is a South America-focused critical minerals explorer and developer. The company is advancing a portfolio of projects considered prospective for rare earths, niobium, and gallium.
Write to Aaliyah Rogan at Mining.com.au
Images: Power Minerals
