Trigg Minerals Limited (ASX: TMG), a company focused on advancing critical mineral development in Tier-1 US jurisdictions with a strategic vision to become a vertically integrated, conflict-free supplier to Western economies, has provided an update on its U.S. NASDAQ listing strategy. The company is currently evaluating several potential pathways, including a dual listing with the ASX as its primary exchange, a full redomiciliation to establish a NASDAQ primary listing, or a potential de-SPAC transaction via merger with an existing US-listed entity. The announcement follows significant interest in Trigg’s U.S. critical minerals portfolio, particularly the Antimony Canyon Project in Utah.
Trigg has received preliminary, non-binding proposals and conditional term sheets from U.S.-based SPACs exploring a potential business-combination pathway via merger through the asset sale of the Antimony Canyon Project. The company has also received considerable interest in its Tennessee Mountain Tungsten project. The current de-SPAC offers relate specifically to the Antimony Canyon Project, with Trigg retaining 100% ownership of its Tennessee Mountain Tungsten Project (Nevada) and Central Idaho Antimony Project (Idaho) under these proposals.
While acknowledging the success of other U.S. critical-minerals companies that have listed via SPAC transactions, such as MP Materials, Trigg also recognises potential dilutionary impacts and associated costs. At this stage, Trigg continues to consider a dual listing on the NASDAQ exchange, with the ASX remaining its primary exchange. This approach offers advantages such as no direct dilutionary impact to shareholders, lower establishment costs, and a shorter listing timeline of approximately 4–6 months.
Furthermore, Trigg Minerals has announced plans to change its name to “American Tungsten & Antimony Ltd”, subject to shareholder approval, to reflect its updated strategy and focus. The company will seek shareholder approval for the name change at its upcoming AGM in November 2025. All proposals remain subject to detailed due diligence, negotiation of definitive documentation, regulatory review, and Board approval, and there is no certainty that any binding agreement will be entered into or completed.
