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Red Mountain Mining Limited (ASX:RMX)

ALERT: Price-sensitive ASX Announcement for RMX
Current share price for RMX : $0.011 -0.004 (-26.67%)+
Announcement
Release
28 May 2026 8:45AM
Price at Release
$0.015
Full Release
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Summary
Red Mountain Mining Limited has completed the acquisition of the Pioneer Tungsten Project, securing 100% ownership. The project, located in the US, includes several key prospects with historical tungsten mineralisation. This acquisition aligns with Red Mountain's strategy to advance its role in the critical minerals sector, especially as the US seeks to secure domestic tungsten supplies amidst rising prices and global shortages. Red Mountain plans to initiate further drilling to explore the potential of the Greenstone prospect, which shows promising mineralisation based on historical data.
Key Points
  • Red Mountain Mining Limited (ASX: RMX) has secured 100% ownership of the Pioneer Tungsten Project.
  • The acquisition is seen as a strategic move to strengthen Red Mountain's position in critical minerals exploration and development in the US and Australia.
  • The Pioneer Tungsten Project includes the Greenstone, Mammoth, and Lost Creek prospects with historical tungsten mineralisation.
  • Historical drilling at the Greenstone prospect revealed significant tungsten mineralisation, comparable to Almonty's Gentung deposit.
  • Red Mountain plans to conduct a drilling program at Greenstone to explore further mineralisation.
  • The US government is actively looking to secure domestic tungsten supplies due to global shortages and Chinese control of supply chains.
  • Tungsten prices have surged significantly, positioning Red Mountain well for future developments and partnerships.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.