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An update from Red Mountain Mining Ltd ( (AU:RMX) ) is now available.
Red Mountain Mining plans to restart exploration at its U.S. antimony portfolio as winter conditions ease, beginning with systematic geological mapping and surface sampling at the Thompson Falls project on the Montana-Idaho border. Initial rock chip work at the historical Eastern Star Mine has already delivered high-grade antimony and detectable gold, and the company aims to define drill targets by tracing the mineralised vein system and sampling other historical workings across the claims.
The company has strengthened its technical capability by appointing experienced geologist Dr Max Baker as an advisor and engaging Montana-based KC Harvey Environmental to help expedite environmental approvals for rapid progression to drilling and resource definition. Red Mountain also intends to extend mapping and sampling to its Yellow Pine and Silver Dollar projects in Idaho, as U.S. government backing for critical minerals, including nearby antimony developments, underpins the strategic importance of its portfolio and may open avenues for non-dilutive funding support.
The most recent analyst rating on (AU:RMX) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Red Mountain Mining Ltd stock, see the AU:RMX Stock Forecast page.
More about Red Mountain Mining Ltd
Red Mountain Mining Ltd is an ASX- and US OTCQB-listed critical minerals exploration and development company with projects in Tier-1 mining districts in the United States and Australia. The company is focused on antimony, a key critical metal, with a portfolio of projects in Montana and Idaho positioned near existing processing infrastructure and established mining operations.
YTD Price Performance: -24.00%
Average Trading Volume: 4,918,751
Technical Sentiment Signal: Sell
Current Market Cap: A$18.05M
For a thorough assessment of RMX stock, go to TipRanks’ Stock Analysis page.