Resolution Minerals (ASX:RML) has received a $225 million unsolicited, indicative, and non-binding offer from Snow Lake Resources (NASDAQ:LITM) to acquire the Horse Heaven Project.
The offer comes within a week of Resolution completing the acquisition of the antimony-tungsten-gold-silver project in Idaho, US.
Snow Lake is proposing purchasing Horse Haven via a combination of cash and shares, with the ratio to be mutually agreed at a later date.
The suitor has also requested a period of exclusivity to conduct due diligence and finalise negotiations with Resolution on the terms of the offer.
Resolution is currently assessing the offer and the company notes that shareholders do not need to take any action at this stage.
Horse Heaven has a “rich history of past antimony, tungsten, and gold production”, and has supplied the US Government with antimony and tungsten for its World War I, World War II, and the Korean War efforts, Resolution says.
Horse Heaven is located directly adjacent to Perpetua Resources’ (NASDAQ:PPTA) Stibnite Antimony & Gold Mine.
Meanwhile, Resolution has now appointed Roth Capital Partners as its exclusive North American capital markets advisor in relation to US listing alternatives. These may include a traditional Nasdaq listing or via special purpose acquisition company.
Minining.com.au previously reported the company is seeking to list on the Nasdaq, as part of its dual-listing strategy, as Resolution seeks to expedite the development of its Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho.
The listing is expected to occur during Q4 2025.
Write to Adam Orlando at Mining.com.au
Images: Resolution
