Resolution Minerals has announced the receipt of an unsolicited A$225m ($164.8m) offer from Snow Lake Resources for its recently acquired Horse Heaven antimony-tungsten-gold-silver project.
The proposal, received on 2 August 2025, includes a combination of cash and Snow Lake Resources shares, with the ratio to be determined at a later date.
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The acquisition offer from Snow Lake Resources, a NASDAQ-listed company, is indicative and non-binding.
It also includes a request for an exclusivity period to conduct due diligence and finalise the terms of the offer with Resolution Minerals.
The Board of Resolution Minerals has advised shareholders that there is no certainty the offer will lead to a binding agreement or any transaction.
Horse Heaven, a site with a rich history of antimony, tungsten and gold production, is located in Idaho, US. The project has contributed critical materials to the US during significant wartime periods.
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By GlobalDataThe project is adjacent to Perpetua Resources’ Stibnite Antimony & Gold Mine, which boasts a market capitalisation of approximately $3bn.
Resolution Minerals’ shareholders have been informed that no action is required from them at this stage regarding the offer.
This development follows the formation in March of a joint venture (JV) between Snow Lake Energy and Global Uranium and Enrichment, aiming to acquire the Pine Ridge Uranium Project in Wyoming, US, from Stakeholder Energy.
The JV, named Powder River Basin, will be equally owned by Usuran Resources and Snow Lake Exploration and involves a payment of $22.5m in three instalments to Stakeholder Energy.
