American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has selected globally recognised leader in metals and mining financial advisory, BMO Capital Markets (NYSE:BMO) Limited, as its financial adviser.
The company says the appointment is a major step toward its vision to establish the Halleck Creek Project in Wyoming as a cornerstone of the US critical minerals supply chain.
Working with ARR’s subsidiary Wyoming Rare USA Inc, BMO will lead efforts in strategic investments, joint ventures, mergers and acquisitions, and/or offtake agreements that support the accelerated development of the project.
Pivotal step forward
“Engaging BMO Capital Markets (NYSE:BMO) as our financial adviser marks a pivotal step forward for ARR as we work to deliver on our vision for the Halleck Creek Project,” American Rare Earths CEO Chris Gibbs said.
“The timing is ideal, with growing US support for domestic critical minerals and with Wyoming’s significant commitment to this project.
“BMO’s expertise and industry leadership align perfectly with our commitment to unlocking the full potential of Halleck Creek, creating value for our shareholders, and supporting the onshoring and secure supply of minerals critical for the United States economy.”
With the current US focus being on bringing critical mineral production onto US shores and reducing dependence on foreign sources, ARR believes its Halleck Creek Project, recognised as one of the largest rare earth deposits in North America, is well positioned to capitalise.
The company believes its project has the potential to become a major critical minerals mine and processing facility in the US, supported by strong political momentum and demand for secure, US-based rare earth supply chains.