Gold, Antimony, Tungsten in Idaho, But Can They Really Mine It? | Resolution Minerals CEO Interview

Antonio (0:00)

This video is sponsored by Terrahutton, who makes the invisible, investible. In this CEO BBQ, we're exploring for a bunch of things. Gold, tungsten, and timiny in Idaho, together with Resolution Minerals. But if you're short on time, subscribe to our free newsletter. And once a week, we'll send you a five-minute summary of all interviews we put out, theresourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and in-personal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on Sitterplus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, Resolution Minerals' flagship is the Horse Heaven project, 100 percent owned project. It's adjacent to Perpetual Resources' Stibnite Gold Project, and that's located in Valley County, that's central Idaho, but 90 kilometers east of Cascade and 200 kilometers northeast of Boise. Horse Heaven is a historically mined, again, gold-intimidated Tungsten district where Resolution is currently testing an intrusion-related structurally controlled gold system at the Golden Gate prospect, while at the same time also drilling for Tungsten and Stibnite at one of their other prospects. Recent drilling has shown broad gold intervals at Golden Gate, that was including about 250 meters at about a gram and a half in the 2025 program. And then in 2026, they went to a different target, and they had over 300 meters at 0.65 at Golden Gate South, that is essentially extending mineralization about two kilometers to the south from that Golden Gate North target. That 2026 program was 42 diamond holes for roughly 12,000 meters, and it was the largest exploration program at this project to date, with the vast majority of it, so 39 holes to be specific.

They still have assays pending for those. At the same time, they were also running some metallurgical work on the gold, as well as the Antimony and the Tungsten, and they are also checking the historical Johnson Creek Mill. There's just about 2,000 tons of Golden Gate Tungsten stockpile for a potential monetization here soon, which of course we will have to talk about later on in the conversation.

In the background, there's some other work happening, like there's some paperwork going on. They're trying to get both of their projects through the federal environmental review process under the FAST 41 regime.

Now, that's all Idaho, but the States is not the only place that they've got projects in. They still have some exploration ground in New South Wales and the Northern Territory in Australia. These assets are not the current focus for the company, not the current focus for the capital spend here either. If we do end up talking about them, it would be the latter part of the conversation today if we have the time, and it would be rather briefly, because again, Idaho seems to be the focus. Now, for some numbers and a bit of the details here, Resolution Minerals is listed as RML, and this is an ASX listed company.

Daily volume over there over the last three months has been about 16 million units. 52-week high is 15 cents and 52-week low is 4 cents. With 2.6 billion shares outstanding and a $100 million market cap, today this is just under 4 cents stock. There are about a billion quoted options, 58 million unquoted options, and 217 performance rights, which means that the dilutive securities, if you don't count the quoted options, there will be about 32%, obviously, much higher if you do count those as well. And there will be about 38.8 billion shares on a fully dilutive basis. So again, that is counting the quoted options there. Again, there's no warrants. This is a failure, but they do options there. So there's that part. Last time they raised capital was in April of this year, raising $20 million Aussie dollars at 7 cents per share with one option per three shares with a strike price at 10 cents on those extending for three and a half years. How much money have they got left right now? What exactly are they going to be spending it on now that they've drilled so much?

And when is the next time that they might have to come back to the market? Those are all questions that I'll be asking later on in the conversation. But for this to actually become a conversation, though, I will have to shut up already. And Craig, I'll give you the word here. First of all, thank you for sitting down with me today.