Omnia Metals has shifted its exploration focus to US antimony, silver, rare earths and gallium projects, backed by $3.1 million in equity raisings. Early Montana sampling produced follow-up targets, but the company remains loss-making and says the results are reconnaissance-scale rather than evidence of a resource.
- US critical minerals expansion into Montana
- $1.12 million annual loss and $2.60 million cash
- 209 ppm niobium anomaly at Radix
- Stibnite Ridge reduced to 28 retained claims
- No economic mineralisation established
Montana becomes Omnia’s new exploration centre
Omnia Metals Group Ltd (ASX:OM1) used the 2026 financial year to move from an Australian-focused exploration portfolio into the US critical minerals market. The company secured the Stibnite Ridge Thompson Falls antimony and silver project and staked the Radix REE and gallium project, both in Montana, while continuing to hold Australian and Canadian assets.
The pivot was funded by approximately $3.1 million raised through placements during the year. Omnia ended 30 June with $2.60 million in cash and cash equivalents, up from $923,291 a year earlier, although operating activities consumed $921,661. The company reported a net loss of $1.12 million, compared with a $716,164 loss in 2025, and paid no dividend.
Radix sampling identifies a niobium follow-up target
Radix produced the more substantial early exploration signal. Omnia collected 81 samples across its 80-claim, approximately 3,024-acre landholding, including drainage sediment and rock samples. Rock sample R017 returned the program’s highest niobium result at 209 parts per million, while a drainage sample recorded 560.43 parts per million of total rare earth elements plus yttrium, including 146.50 parts per million of neodymium and praseodymium.
The company plans to resample and map the R017 location, undertake mineralogical characterisation and tighten upstream sediment sampling across selected catchments. That work is intended to help identify possible bedrock sources. The figures are useful for target prioritisation, but Omnia explicitly says they are reconnaissance-scale and do not demonstrate continuity, mineral-resource grades or economic mineralisation.
Stibnite Ridge keeps 28 claims after tenure review
Stibnite Ridge delivered a narrower result. Of 24 samples collected during the first-pass program, Omnia reported results for the 17 located within its current tenure. The best result was 16.0 parts per million antimony alongside 40.6 parts per million arsenic, while the highest reported silver result was 0.082 parts per million.
The project was initially described as a proposed 70-claim block, but a tenure review found competing third-party lode claims over part of the area. Omnia chose not to contest those locations and retained 28 claims it considers more prospective. The company says further work on the retained ground remains under assessment, leaving the asset’s exploration case dependent on whether follow-up sampling can produce a stronger geological signal.
Funding supports exploration, not production
Omnia’s accounts remain those of an early-stage explorer rather than a producer. Deferred exploration and evaluation expenditure stood at $8.23 million at year end, while the auditor identified its carrying value as the key audit matter. The company also flagged the familiar risks of future capital requirements, exploration failure, tenure, environmental approvals and overseas operations.
For the 2027 financial year, the immediate catalysts are practical rather than commercial: Radix follow-up work, an assessment of the retained Stibnite Ridge claims and contracting for a planned VTEM survey at the Ord Basin project. The central question is whether the Montana reconnaissance results can be converted into drill-ready targets before the cash balance and exploration commitments begin to narrow the company’s room for manoeuvre.
Bottom Line?
Omnia has secured exposure to sought-after US critical minerals, but the investment case still rests on turning reconnaissance anomalies into repeatable, drill-supported mineralisation without an early return to the equity market.
Questions in the middle?
- Can follow-up work at Radix demonstrate a coherent bedrock source beneath the niobium and REE anomalies?
- Will the retained 28 Stibnite Ridge claims produce stronger antimony or silver results in subsequent programs?
- How long can Omnia fund its expanded US and Australian exploration plans from its reported cash balance?