Although Dateline acknowledges its current study is still early stage, with a 35 per cent margin of error, it says the results highlight Colosseum’s strength.
While the company’s market cap of US$95M (A$146M) appears modest compared to the estimated US$153M (A$235M) needed for pre-production capital, management says it remains confident it can close the funding gap without diluting shareholder value.
Colosseum is within California’s prolific Walker Lane Trend and doesn’t just tell a gold story. It is 10 kilometres from the world-class Mountain Pass rare earth mine, in a geological setting that also points to rare earths potential. This presents Dateline with a strategic bonus in today’s critical minerals race.
The company made headlines at the start of the month after a high-profile shout out from US President Donald Trump, who publicly backed the company’s Colosseum rare earth credentials in a weekly update on his Truth Social platform, dubbing it “America’s second rare earths mine”.
The endorsement followed a major regulatory win, with the US Interior Department reaffirming Dateline’s right to mine at its historic Californian leases, marking a pivotal moment for the company’s rare earths ambitions.
Riding the momentum, Dateline is now in advanced planning for a dedicated rare earths drilling campaign at Colosseum, led by global rare earths experts Dr Anthony Mariano and Tony Mariano.
The company is also preparing to tap into US capital markets, following strong interest from overseas investors. Management is targeting a listing on the OTCQB Venture Market in the third quarter this year to broaden its investor base and boost visibility in the world’s largest economy.
With feasibility work in full swing, Dateline is gearing up to turn Colosseum into a cornerstone asset, which could become a serious gold and rare earths contender in the US mining revival.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
