Dalaroo Metals has opened a new US trading opportunity line after securing a secondary quotation on the OTCQB market under the ticker DALMF.
OTCQB is short for “over-the-counter QB” and is the OTC Markets Group’s venture-style marketplace in New York for developing companies.
For Dalaroo, the move is expected to make its shares easier for North Americans to access, as they can now trade the stock in US dollars during local market hours.
Notably for existing holders, Dalaroo says the new listing is non-dilutive, with no additional shares being issued as part of the process. The company also says the US quotation does not add any extra regulatory burden beyond its existing Australian Securities Exchange reporting requirements.
While the move looks fresh on the tape today, it was flagged earlier as a plan in motion.
In a mid-February market release, tied to the appointment of Greenland rare earths specialist Greg Barnes as an adviser, Dalaroo also flagged its intent to pursue a secondary listing on the OTCQB. The move is designed to raise the company’s profile among North American funders of critical minerals and rare earths supply chains.
Dalaroo is pitching the broader offshore visibility angle as a natural fit for its growing international portfolio across gold and critical minerals. The company’s line-up includes rare earths ground in Greenland, gold projects in Côte d’Ivoire and a suite of Western Australian assets.
Dalaroo Metals chief executive officer John Morgan said: “This marks an important milestone for Dalaroo as we expand our global investor reach and improve accessibility to the Company. The OTCQB listing provides North American investors with a convenient platform to trade Dalaroo shares in US dollars during local market hours.
Dalaroo’s Blue Lagoon project in southern Greenland sits in the Gardar Alkaline Province and is prospective for rare earth elements, zirconium and niobium.
In mid-January, the company unveiled peak results at Blue Lagoon, including zirconium oxide up to 4.42 per cent and total rare earth oxides up to 0.81 per cent.
Dalaroo has also been building early momentum in Côte d’Ivoire, where its initial exploration has outlined a coherent gold footprint over a 2.7-kilometre-long strike corridor at its Bondoukou project. The company is now ramping things up with a major 4400-sample soil geochemical program to expand the anomalous zone.
With US trading now live, Dalaroo looks set for fresh offshore attention to match its on-ground momentum as the company progresses its targets across Greenland and West Africa.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Doug Bright
