Rapid Critical Metals Targets 34.9Moz Silver and High-Grade Germanium with $10m Raise

Strategic Acquisitions in Silver and Critical Metals

Rapid Critical Metals Limited (ASX, RCM) has taken a significant step forward with the acquisition of two high-grade silver projects in New South Wales; Webbs and Conrad; alongside the Prophet River Germanium-Gallium project in British Columbia, Canada. These assets collectively position RCM at the intersection of precious and critical metals, aligning with growing global demand for strategic commodities.

The Webbs and Conrad projects boast a combined JORC 2012-compliant silver resource of 34.9 million ounces silver equivalent (AgEq), with impressive grades averaging around 200 grams per tonne. Notably, these projects have seen limited modern exploration over the past decade, presenting substantial upside potential for resource expansion and new discoveries.

Exploration and Growth Prospects

RCM plans an aggressive exploration program including new micro-gravity and ground magnetic surveys, diamond drilling totaling 2,000 meters, and assessment of advanced mineral processing technologies such as Tomra ore sorting. These initiatives aim to upgrade existing resources and unlock parallel lodes that historical surveys may have missed.

Meanwhile, the Prophet River project offers exposure to zinc, germanium, and gallium; metals critical to the electronics and semiconductor industries. With China controlling approximately 98% of global gallium supply and recently imposing export restrictions, RCM’s 100% ownership of the 2,110-hectare project in a mining-friendly Canadian jurisdiction is strategically valuable. Bulk samples from prior drilling have revealed some of the highest germanium grades recorded globally, underscoring the project's potential.

Capital Raising and Market Positioning

To support these initiatives, RCM proposes a capital raise of up to A$10 million, which would bolster its cash position to nearly A$7 million post-raise. This funding is earmarked for advancing exploration, resource delineation, and feasibility studies. Despite the scale and quality of its silver resources, RCM’s market capitalization remains notably below peers with similar ounces in ground, suggesting room for re-rating as progress unfolds.

The company’s board and management bring a wealth of experience spanning mining operations, corporate finance, and capital markets, enhancing confidence in execution. With a clear strategic focus on future-facing battery and critical metals, RCM is positioning itself to capitalize on supply-demand imbalances and geopolitical risks affecting key commodities.

Looking Ahead

Rapid Critical Metals’ acquisition and exploration plans come at a time when silver demand outstrips supply and critical metals like germanium and gallium are increasingly constrained. The company’s next chapters will hinge on exploration results, resource upgrades, and successful capital deployment to unlock value for shareholders.