Diablo Raises $2M, Targets U.S. Growth via OTCQB Dual Listing
Diablo Resources is broadening its North American footprint by preparing for a secondary listing on the U.S. OTCQB market, complementing its recent acquisition of a high-grade silver-antimony project in Utah.
- Commencement of OTCQB market listing preparations in the U.S.
- Recent $2 million capital raise to acquire Star Range Silver-Antimony Project
- Portfolio includes high-grade Star Range and Phoenix Copper projects in Utah
- Dual listing aims to engage U.S. investors aligned with critical minerals supply chains
- Plans underway for drilling and exploration programs at key U.S. assets
Strategic Dual Listing to Broaden Investor Base
Diablo Resources Limited has taken a significant step in its North American expansion by initiating preparations for a secondary listing on the U.S. OTCQB market. This move is designed to open direct channels to U.S. investors, funds, and media focused on critical minerals essential to energy, defense, and advanced manufacturing sectors. The dual listing complements Diablo’s existing Australian Securities Exchange (ASX) listing, enhancing transparency and compliance with both markets’ disclosure standards.
Acquisition of High-Grade Star Range Project
Central to Diablo’s U.S. growth strategy is the recent $2 million capital raise that funded the acquisition of the Star Range Silver-Antimony Project in Utah, a Tier-1 mining jurisdiction. Historic sampling at Star Range has revealed exceptionally high silver grades, reaching up to 8,760 grams per tonne, alongside antimony concentrations exceeding 1% at surface. This acquisition positions Diablo to tap into critical minerals that are increasingly vital to America’s domestic supply chains.
Expanding U.S. Critical Minerals Portfolio
Alongside Star Range, Diablo’s U.S. portfolio includes the Phoenix Copper Project, where drilling at the Fair Dinkum Prospect is imminent. These projects collectively expose the company to multiple battery and defense-critical minerals, aligning with the U.S. Department of the Interior’s focus on securing essential commodities. The dual listing is expected to facilitate further strategic initiatives such as acquisitions, joint ventures, and project-level financing within the U.S. market.
Management Perspective and Next Steps
Non-Executive Chairman Paul Lloyd highlighted the significance of the OTCQB listing as a milestone accelerating Diablo’s U.S. growth. He emphasized the company’s strong technical team, promising exploration results, and alignment with America’s resource independence goals. Looking ahead, Diablo plans to finalize its OTCQB registration, mobilize detailed field programs at Star Range, receive assay results from Phoenix Copper drilling, and continue evaluating additional critical mineral opportunities across the U.S.
Bottom Line?
Diablo’s dual listing and strategic acquisitions set the stage for a deeper U.S. presence amid rising demand for critical minerals.
Questions in the middle?
- When will Diablo’s shares officially begin trading on the OTCQB market?
- What are the expected timelines and results for the upcoming drilling programs at Star Range and Phoenix Copper?
- Could Diablo pursue further acquisitions or partnerships to expand its U.S. critical minerals portfolio?
