Red Mountain Mining (ASX:RMX)

📌 KEY TAKEAWAYS • Critical minerals explorer-developer, dual-listed ASX:RMX and OTCQB:RMXFF, capped under A$20M with over A$2M cash at end of quarter, focused on antimony-gold across Australia and the US • Four-pillar investment framework — commodity, projects, jurisdictions, timing — and Nic's case for why all four currently align for RMX • Antimony supply sits 85–90% with China, Russia and Tajikistan; classified by the US as a national security issue; end uses (armour-piercing rounds, semiconductors, night vision, infrared sensors, solar PV, fire retardants) are difficult to substitute • China's late-2024 export bans drove antimony ~6x to ~A$95,000/tonne. Controls have since been relaxed; per Nic's understanding, they will be reinstated in September • Armidale Antimony-Gold (NSW) — flagship on the Southern New England Orogen, the same province as Larvotto Resources' (ASX:LRV) Hillgrove, Australia's largest antimony deposit. Nearly 2,000 surface samples completed across 2025–26; results up to ~40% stibnite with 1g/t associated gold; multi-kilometre soil anomaly coincident in Au-As-Sb, five priority targets defined for the maiden drill program • Utah Antimony Project — acquired for proximity to American Tungsten & Antimony's (ASX:AT4) Antimony Canyon Project; claims overlie the same Flagstaff stratigraphy that hosts AT4's resource. Geophysics planned to map controlling N-S faults • Thompson Falls (the project Nic said he's "most excited about") — 4-5km from United States Antimony Corp's Stibnite Hill Mine, recently re-entered production, and proximal to UAMY's antimony oxide smelter. Initial fieldwork up to 37% Sb with 0.5g/t Au; three historical underground adits and one open pit; within the Coeur d'Alene district (~20% of US silver production / ~1.2 billion ounces historically) • Catalyst calendar — maiden Armidale drill program (~2,000m / ~20 holes, deepest 300m, on-site XRF) targeting end of this half / early next pending APO. IP survey trial at Oakey Creek South. US program ~6 months behind on winter; Thompson Falls field team mobilising in the coming weeks, then Utah drone + chargeability survey, then drill • Dr Max Baker (Newmont-era exploration manager, multi-million-oz discoveries) joined the advisory board