Resolution Minerals (ASX:RML) has flagged its intentions to list on Wall Street’s NASDAQ exchange with the help of one firm that reportedly employed Donald Trump’s sons, Dominari Securities LLC.
Dominari Holdings, the parent company, is reportedly located in a Trump Tower, and that could be part of why the market has responded favourably to the news on Tuesday, given this implies the company may secure a privileged spot in the listings approvals chain.
Another firm, Revere Securities LLC, is part of the NASDAQ strategy; between Dominari and Revere the company will issue 79.3M shares. If the market was bothered by that, it wasn’t evident on Tuesday.
“A dual-listing on the NASDAQ will strengthen Resolution’s emerging status as a potential future American supplier of critical metals for the defense needs of the U.S. and its allies,” the company wrote on Tuesday.
“The Company believes the NASDAQ to be a natural ‘home’ for RML … North American investors are becoming increasingly aware of RML’s position to potentially offer a much needed solution to the U.S. Government’s need for critical minerals.”
Getting past the spin, the company is moreso looking at the NASDAQ’s higher liquidity and trading volumes; likely a push to Americanise itself given the current US political climate, and, Resolution’s also looking at greater analyst exposure (and “capital raising flexibility.”)
For now, Dominari and Revere are on a six month contract that will be extended upon a successful NASDAQ listing, suggesting the earliest we could see RML hit Wall Street may be Q4 CY2025.
RML last traded at 8.3cps
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Disclaimer: Resolution Minerals were a client at the time this article was crafted and publIshed.