Locksley Resources has successfully transitioned to the OTCQX Best Market in the United States, just three months after its debut on the OTCQB Venture Market. This rapid advancement allows the ASX-listed company to attract a broader base of North American investors, coinciding with a heightened urgency in the U.S. to secure domestic supplies of critical minerals, particularly antimony.
The OTCQX is exclusive to established companies that adhere to stringent financial and governance standards. By qualifying for this market, Locksley Resources stands to benefit significantly as Washington intensifies efforts to bolster domestic production of materials essential for national security. The company aims to become a key player in the U.S. critical minerals supply chain, particularly through its operations at the Mojave project located in California.
Locksley Resources’ flagship Mojave project is strategically situated adjacent to MP Materials’ Mountain Pass rare earths mine. This location is critical, as the project is believed to contain one of the highest-grade occurrences of antimony in the United States. The Desert antimony mine, which last operated in 1937, is now being reconsidered as the U.S. seeks to reduce reliance on foreign sources for this essential metal. Following an export ban by China, which produces approximately 78 percent of the world’s antimony, prices surged by 400 percent to reach US$60,000 (approximately A$91,000) per tonne.
Despite the high demand for antimony, the U.S. currently does not produce any domestically, making Locksley Resources well-positioned to potentially revive its historic mine and address the supply gap. The Mojave project encompasses nearly 500 claims, divided into two significant zones: the North Block and the El Campo prospect. The North Block is adjacent to MP Materials, while El Campo is strategically located along strike, with several claims completely surrounded by MP’s tenements. Early geological assessments indicate promising signs of continuity and exploration potential at both locations.
Nathan Lude, Locksley Resources’ Head of Strategy, Capital Markets & Commercialisation, emphasized the importance of this market upgrade, stating, “Graduating to the OTCQX Market in record time since our initial listing just over three months ago is a significant milestone for Locksley as we broaden our visibility and accessibility to U.S. investors.”
Locksley’s project is not only strategically located but also symbolizes a broader mission to reestablish the U.S. on the global critical minerals map. The company plans to enhance its value chain by linking the Mojave project with downstream partnerships at leading U.S. research institutions, including Rice University in Houston. This collaboration aims to integrate exploration, processing, and separation into one cohesive strategy, enhancing the project’s overall potential.
As drilling operations commence, Locksley Resources aims to capitalize on the global shift away from reliance on Chinese-controlled supply chains for critical minerals. Trading under the ticker symbols LKY on the ASX, LKYRF on the OTCQX, and X5L in Frankfurt, Locksley Resources is expanding its international investor exposure. With a solid operational presence in California and a project that aligns with strategic national interests, Locksley is poised to emerge as a pivotal player in the race to secure the future of America’s critical minerals supply.
As developments unfold at the Mojave project, industry observers are keenly monitoring Locksley Resources’ next steps in this crucial sector.
