In a sharp move to boost its profile in the world’s biggest capital market, ASX-listed Chariot Corporation has thrown its hat in the ring for a dual listing on the United States OTCQB Venture Market, as the Trump administration moves to secure its domestic lithium stakes in nearby players.
The Perth-based lithium explorer holds a hefty US-focused portfolio and says its move to the OTC opens doors to North America’s hungry critical minerals market.
Chariot’s decision comes hot on the heels of growing buzz from US investors eyeing the company’s Wyoming and Nevada lithium projects.
To grease the wheels, the company has tapped the US-based Viriathus Capital LLC as financial advisor to steer its latest listing venture.
The OTCQB is a go-to for early-stage international outfits and has recently offered many of Chariot’s ASX-listed kin a low-fuss way to reach institutional and retail investors across the US without the red tape of major exchanges such as the NYSE.
It’s a natural fit for the company, its early production Black Mountain hard-rock lithium project in Wyoming and its Resurgent claystone play straddling Nevada and Oregon.
The company’s share price rocketed 225 per cent from 10 cents to 32.5 cents a share last week after the Trump administration said it was considering taking a 10 per cent equity stake in the company’s neighbour - Lithium Americas - as part of a US$2.26 billion (A$3.4 billion) government loan renegotiation.
Aussie punters were quick to react, identifying the Chariot-controlled Resurgent project sitting right next door to Lithium America’s Thacker Pass as the next potential benefactor.
The company’s landholding shares the same ancient caldera basin, which is the very geological bowl that has already coughed up billions of dollars’ worth of lithium-bearing claystone at its famous neighbour.
The US listing move mirrors a playbook straight out of the critical minerals race. Peers Locksley Resources and Dateline Resources recently debuted on the OTC to push their respective Mojave antimony-rare earths and Colosseum gold-rare earths projects near MP Materials’ renowned Mountain Pass mine. Chariot is now joining the fold, eyeing a broader investor pool to fuel its next steps.
More players in the game means more liquidity, potentially giving Chariot’s shares a livelier ticker and unlocking value for its Aussie and US shareholders.
The listing also syncs with US market hours, giving global investors a second daily trading window alongside the ASX.
It’s a savvy way to keep the ball rolling across time zones.
With the US government reportedly sniffing around lithium investments to secure domestic supply, Chariot’s US assets - Black Mountain’s spodumene-rich pegmatites and Resurgent’s claystone potential -put it square in the frame.
Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au
By Andrew Todd
