Nasdaq Listing Risks and Rewards for American Tungsten & Antimony Amid US Market Entry

Progressing Towards Nasdaq

American Tungsten & Antimony Ltd (ASX – AT4) has taken significant steps towards listing on the Nasdaq, aiming to tap into the world’s largest equity capital markets. The company plans a confidential submission of its registration statement to the US Securities and Exchange Commission (SEC) in March 2026, with an anticipated Nasdaq admission in the second quarter of the year. This move aligns with growing investor interest in critical minerals, particularly in the United States, where American Tungsten & Antimony’s flagship projects are located.

Deutsche Bank and the ADR Program

To facilitate US investor access, the company has appointed Deutsche Bank as the depositary for its American Depositary Receipt (ADR) program. This program will initially allow trading over-the-counter, transitioning to Nasdaq once the listing is complete. Deutsche Bank’s expertise in depositary receipts is expected to smooth the process of registering investors and administering the ADR facility, which is anticipated to open in late February 2026. This strategic partnership underscores the company’s commitment to establishing a strong presence in US capital markets.

New CFO Appointment

Supporting this growth trajectory, American Tungsten & Antimony has appointed Graeme Morissey as Chief Financial Officer. Morissey brings a wealth of experience from his previous roles, including CFO at Warriedar Resources, where he played a key role in a major acquisition valued at over $300 million. His background in governance, financial compliance, and capital markets across multiple jurisdictions positions him well to guide the company through its dual listing ambitions and exploration expansion.

Strategic Timing and Market Context

The timing of this Nasdaq listing effort is notable, coinciding with encouraging exploration results at the Antimony Canyon project and the initiation of activities at the Tennessee Mountain tungsten project in Nevada. These developments heighten the company’s appeal to US investors focused on critical minerals, a sector currently experiencing unprecedented investment interest. While no capital raising is planned at the time of listing, the move is expected to enhance liquidity and broaden the shareholder base.

Looking Ahead

American Tungsten & Antimony’s progress towards Nasdaq listing, combined with the establishment of an ADR program and the appointment of a seasoned CFO, marks a pivotal phase in its growth story. The company is positioning itself to capitalise on the US market’s appetite for critical minerals exposure, potentially unlocking new opportunities as it advances its exploration and development projects.