Dateline Resources Limited to Boost U.S. Investor Access to Key California Mining Asset
SYDNEY, AUSTRALIA / ACCESS Newswire / May 2, 2025 / Dateline Resources Limited (ASX:DTR)(OTC PINK:DTREF), an Australian mining company with a focus on North American assets, is advancing its strategic Colosseum gold and rare earth elements (REE) project in California. Following recent endorsements from President Donald J. Trump and the U.S. Department of the Interior of the project, the company is pursuing a listing on the OTCQB Venture Market to enhance access for U.S. investors. This initiative aligns with Dateline's goal of developing the Colosseum Project into a key contributor to America's critical minerals supply chain, as emphasized in President Trump's executive order "Immediate Measures to Increase American Mineral Production."
High-Profile Endorsements Highlight Strategic Importance
In a recent Truth Social update, President Donald J. Trump praised the approval of the Colosseum Mine, stating: "The Colosseum Mine, America's second rare earths mine, has been approved after years of stalled permitting." This recognition underscores the project's potential to reduce America's reliance on foreign sources for critical minerals.
The U.S. Department of the Interior also endorsed the project, with the Bureau of Land Management noting: "The resumption of mining at Colosseum Mine supports efforts to bolster America's capacity to produce the critical materials needed to manufacture the technologies to power our future… Interior continues to support industries that boost the nation's economy and protect national security."
These endorsements highlight the strategic significance of the Colosseum Project for U.S. national interests.
OTCQB Listing to Enhance U.S. Investor Access
To capitalize on growing U.S. investor interest, Dateline is pursuing a listing on the OTCQB Venture Market. This move will upgrade the company's current OTC Pink trading status (Ticker: DTREF) to the OTCQB tier, providing improved liquidity and easier access for American investors to trade Dateline shares in U.S. dollars during U.S. market hours.
Stephen Baghdadi, Managing Director of Dateline, commented: "The support from President Trump and the U.S. government underscores the strategic importance of the Colosseum Project for America's future. We're excited to make our shares more accessible to U.S. investors through the OTCQB listing, allowing them to participate in this opportunity to bolster domestic critical minerals production."
Importantly, the OTCQB listing will not impose additional compliance burdens on Dateline. As an ASX-listed company, Dateline already adheres to rigorous reporting standards, which will satisfy OTCQB requirements under the SEC's exemption for foreign issuers.
The push to broaden U.S. market access comes on the heels of significant developments, including the DOI's confirmation of Dateline's mining rights and President Trump's executive order emphasizing the strategic importance of critical minerals. These milestones have generated substantial interest from North American investors, making the OTCQB listing a timely initiative to engage with this growing shareholder base.
Colosseum Project: A Strategic Asset for U.S. Mineral Independence
Located in California's Mojave National Preserve, just 10 kilometers north of the Mountain Pass rare earth mine, the Colosseum Project is uniquely positioned to contribute to America's critical minerals supply. The project hosts a substantial gold resource of 27.1 million tons at 1.26 grams per ton gold, totaling 1.1 million ounces, with 67% in the Measured and Indicated categories[1]. The Colosseum Mine has a history of successful production, having yielded approximately 344,000 ounces of gold between 1989 and 1993.
A 2024 Scoping Study[2] demonstrated strong economics, projecting an 8+ year mine life with annual production of approximately 75,000 ounces of gold. At a gold price of $2,200 per ounce, the study estimated a pre-tax net present value (NPV) of around $235 million and an internal rate of return (IRR) of 31%.
Beyond gold, the project has significant potential for rare earth elements (REEs), which are essential for high-tech industries and national defense. Geological studies indicate similarities with the Mountain Pass mine, suggesting that Colosseum may host valuable REE deposits. Dateline is actively exploring this potential, integrating REE-focused work into its exploration programs.
Executive Order Reinforces Strategic Importance
Further emphasizing the national importance of such projects, President Donald J. Trump signed an executive order titled "Immediate Measures to Increase American Mineral Production" on March 20, 2025. This order aims to boost American mineral production, streamline permitting, and enhance national security by reducing reliance on foreign minerals. It prioritizes the production of critical minerals, including those found at the Colosseum Project, and directs federal agencies to expedite the permitting process for domestic mineral production projects. The order also emphasizes the importance of critical minerals for various industries and national defense, aligning perfectly with Dateline's efforts at the Colosseum Project.
To further advance the project, Dateline has commenced a Bankable Feasibility Study (BFS), building on recent drilling results and updated economic parameters. The company recently raised A$1.4 million to fund the BFS and other critical work at Colosseum.
DOI Approval Clears Path for Development
The U.S. Department of the Interior's confirmation of Dateline's mining rights at Colosseum is a pivotal milestone, clearing the path for the company to advance from exploration to development with federal endorsement. This approval not only validates the project's compliance with U.S. land laws but also highlights its strategic importance for domestic mineral production.
Looking Ahead
With strong backing from the U.S. government and increasing interest from American investors, Dateline is well-positioned to unlock the value of the Colosseum Project. The company is committed to keeping shareholders informed as it progresses towards production and explores the project's rare earth potential.
The OTCQB listing is expected to be finalized in early Q3 2025, providing U.S. investors with a streamlined platform to trade Dateline shares. The company will announce the new OTCQB ticker code once the listing is effective.
About Dateline Resources Limited
Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on mining and exploration in North America. The company owns 100% of the Colosseum Gold-REE Project in California, a strategic asset with significant gold and rare earth elements potential.
For more information, visit www.datelineresources.com.au.
Follow Dateline on X: https://twitter.com/Dateline_DTR
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding the potential of the Colosseum Project, the expected benefits of the OTCQB listing, the company's plans for future development, and the strategic importance of the project for U.S. critical minerals supply. Forward-looking statements are based on the company's current expectations, estimates, and projections, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to: fluctuations in the prices of gold and rare earth elements; changes in regulatory requirements or permitting processes; geological or technical challenges in exploration and development; market conditions affecting the company's ability to raise capital; environmental or social factors impacting operations; risks associated with the OTCQB listing process or trading on a new market; environmental and permitting risks associated with operating in a national preserve; uncertainty regarding the delineation of a mineable rare earth elements resource; risks related to the company's ability to secure necessary funding for project development; and potential changes in government policies or priorities affecting the critical minerals sector. The company cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company does not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Competent Person Statement
The exploration information in this press release has been reviewed by Mr. Greg Hall, a Chartered Professional of the Australasian Institute of Mining and Metallurgy. Mr. Hall has sufficient experience relevant to the style of mineralization and deposit type to qualify as a Competent Person under the JORC Code. He consents to the inclusion of this information in the context in which it appears.
For More Information, Please Contact:
| Stephen Baghdadi Managing Director
+61 2 9375 2353
www.datelineresources.com.au | |
[1] Dateline confirms in the subsequent public report that it is not aware of any new information or data that materially affects the information included in the relevant market announcement and, in the case of estimates ofmineral resources or ore reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
[2] Dateline confirms in the subsequent public report that all the material assumptions underpinning the production target, or the forecast financial information derived from a production target, in the initial public report referred to in Rule 5.16 or Rule 5.17 (as the case may be) continue to apply and have not materially changed.
SOURCE: Dateline Resources Limited
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