Red Mountain Mining

2026-06-09 15:09:34 ET

?Investor Insight

Red Mountain Mining is rapidly developing a premium antimony and tungsten portfolio across Australia and the US, utilizing a strong cash position and high-impact drilling to address critical Western supply shortages.

?Overview

The Geopolitical Monitor finds that the United States has not mined antimony domestically since the early 1990s, yet the metal remains an essential input for military munitions.

China remains the largest producer of both antimony and tungsten , accounting for nearly 50 percent and approximately 80 percent of global production, respectively.

Red Mountain Mining (ASX: RMX ) is an exploration company moving decisively to address this macro crisis by accelerating the development of its critical minerals projects, particularly focusing on antimony and tungsten. The company's commercial strategy focuses on high-impact drilling programs in key jurisdictions, securing direct landholder access and leveraging government support to maximize shareholder value.

With an approved drilling campaign at its flagship Armadale antimony-gold project, the company is positioned to capitalize on favorable regulatory and investor environments. The company’s projects are advanced by an accomplished capital markets and resources team with deep experience in ASX governance, exploration and deal execution.

?Company Highlights

• Strategic Commodity Exposure: Targeting critical defense and technology-grade metals on the brink of significant price increases due to Chinese export bans and rising Western demand.
• Flagship Near-term Catalyst: Positioned for a significant news cycle at its flagship Armidale antimony-gold project in New South Wales with an approved 2,000-meter drilling program.
• Experienced management: Senior Technical Director Mark Mitchell played a role in the discovery of multiple diamondiferous systems, involved in targeting mineral systems and kick started the development of the world class Kameelburg REE, Nb and Sr carbonatite.
• Well-funded exploration program: Closed Q1 2026 with approximately AU$1.75 million in cash and secured a strongly oversubscribed placement of AU$1.6 million in addition to an AU$1 million standby funding facility.

?Key Projects

Armidale Antimony-Gold Project

Red Mountain Mining’s flagship Armidale project encompasses 391 square kilometers of prospective ground within the Southern New England Orogen (SNEO), recognized as Australia's premier antimony province. It is the company’s sole Australian asset.

Located approximately 100 kilometers west of Australia's largest known antimony deposit (the Hillgrove project), the tenement extends 85 kilometers in length and contains three historical antimony workings where high grades of up to 39 percent antimony have been returned, alongside strong gold prospectivity.

The company is currently securing ground access to high-priority areas to begin a 1,200-sample surface mapping over all four areas and a rock chip sampling program ahead of an approved 2,000-meter drilling campaign.

Thompson Falls projects

Acquired by Red Mountain Mining in February 2026, the Thompson Falls project is positioned in America's "Antimony Heartland" along the Montana-Idaho border. It features high-grade antimony assays of up to 36.5 percent antimony, with additional gold and silver potential. The project is strategically located just 4.2 kilometers from the United States Antimony Corporation’s (NYSE: UAMY) operations, which host the only operating antimony smelter in the United States.

Pioneer Tungsten project

The Pioneer Tungsten Project is located in southwest Montana, adjacent to Almonty Industries' (TSX:AII,NASDAQ:ALM) 6.8 million tonnes Gentung tungsten deposit. The property comprises three claim groups: the Mammoth, Lost Creek, and Greenstone prospects. All of which host known tungsten-bearing garnet skarn mineralization.

Historical drilling at the Greenstone skarn prospect returned mineralized intercepts along their entire trace lengths, averaging between 0.34 percent and 0.48 percent over thicknesses of 5.8 to 10.7 meters. Dozer exposures and mapping indicating that the skarn shallowly dips undercover to the east and remains open along the granodiorite-limestone contact in the existing claims.

Utah Antimony Project

Located in the historical Antimony Mining District of Utah, this project sits in a region hosting more than 30 historical workings. The local antimony mineralization is tightly controlled by north-south fault structures within the Palaeocene Flagstaff Formation. These identical geological elements extend directly into Red Mountain's ground, providing strong structural potential for discoveries.

Yellow Pine Antimony Project

Yellow Pine is situated within the historic Stibnite Mining District, a major source of American antimony in the 20th century that produced 39,930 tonnes of antimony between 1932 and 1952.

The Yellow Pine project is located less than 2 kilometers from Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) Stibnite mine, which is positioned to be America's next active antimony mine.

Silver Dollar Historic Antimony Mine

Located southeast of Yellow Pine in a highly prospective antimony-gold district, the Silver Dollar asset features a geological setting analogous to the massive Stibnite project. The site includes historical mining records showing high-grade antimony averaging 17.7 percent antimony alongside silver. Red Mountain recently expanded its footprint here by more than 80 percent through the acquisition of 24 new claims.

Funding

Red Mountain said that following a heavily oversubscribed $1.5 million placement , the company is well-funded to advance exploration across both US projects while assessing further U.S. expansion opportunities and a potential US stock market listing to support its growing antimony and critical minerals portfolio.

?Management Team

Mauro Piccini – Non-Executive Chairman

A Chartered Accountant (CA) and member of the Governance Institute of Australia (GIA), Piccini specializes in corporate advisory, company secretarial and financial management services. He worked for seven years at the ASX and began his career in the assurance division of Ernst & Young (EY).

Lincoln Liu – Managing Director

Liu has worked in the Australian equities market for 15 years, with success in numerous capital raising, M&A, IPO and private equity deals. He is the founder of a Sydney-based corporate advisory firm and has served on the board of an ASX-listed technology minerals company.

Robert Parton – Non-Executive Director

With over 20 years of experience providing corporate advisory, business analysis, and project evaluation services, Parton’s career management and corporate advisory roles. He previously worked across major entities such as BHP, Crane Group, Kraft Foods, and Schneider Electric's PDL Electronics.

Nic Matich – Director, Corporate Development

A mechanical engineer and finance professional, Matich has over 17 years of experience in the resources sector, providing engineering, risk consulting and insurance services to Tier-1 mining operators. He is the former Managing Director of Pinnacle Minerals, and the former Executive Director of Heavy Minerals, and is currently a Non-Executive Director of Temas Resources.

Mark Mitchell – Senior Technical Director

A graduate of RMIT, Mitchell is an accomplished geologist with over 40 years of global mineral exploration experience specializing in base metals, lithium, gold, rare earth elements and diamonds. He spent 24 years with De Beers Australia Exploration, rising to Exploration Manager and Director where he led the discovery of multiple diamondiferous systems and has experience on early to advanced stage projects.

Max Baker – Advisory Board Member

Baker is a distinguished exploration geologist with more than 40 years of international mining lifecycle experience across Australia, the Americas, Europe and Asia. He has served as Chief Geologist for major producers Newcrest Mining Limited and Mount Isa Mines, alongside senior executive roles at various TSX-V and AIM-listed companies. He was also a Co-founder and VP of Exploration for Integra Resources.

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