Shares in Energy Transition Minerals Ltd (ASX: ETM) were 25% higher at a fresh 12-month high on Friday morning after the company announced it had appointed advisers in the US.
Energy Transition Minerals has a suite of offshore assets in the critical minerals space, including the large-scale Kvanefjeld rare earths project in Greenland, where it is locked in a legal battle with the Greenland government over its rights to an exploitation licence for the project.
The company recently told the ASX in a statement that the matter would return to court on January 12.
The company also has lithium projects in Canada and a tin and rare earths project in Spain.
Aiming for a US listing
Energy Transition Metals said in a statement to the ASX on Friday that it had appointed Ballard Partners as strategic advisors in the US.
As the company explained:
Ballard Partners' mandate will include advising on public policy and regulatory issues which shape the global rare earths supply chain, with a focus on long-term value creation for shareholders and supporting ETM's role as a responsible commercial participant in critical minerals markets. The appointment reflects Ballard Partners' extensive experience advising clients in the critical minerals sector on how to protect and advance their strategic interests. Ballard's expertise in the critical minerals policy space, and the firm's close connections with key decisionmakers in Washington, underscores its capability to advance ETM's engagement strategy with US investors and strengthen the Company's international position as a commercial entity.
The appointment follows the company's announcement in late December that it had appointed Cohen & Company Capital Markets, which would be advising it on seeking a listing on the Nasdaq Stock Exchange in the US.
Energy Transition Minerals Managing Director Daniel Mamadou said on Friday:
As we look to expand our engagement with US stakeholders and explore ways to list on Nasdaq, it is essential that we have leading specialists to guide us through the unique challenges of this market. Appointing local public affairs experts will help ensure that we have the right support to navigate regulatory and investor relationships, accelerating our North American engagement and furthering our international strategy.
Greenland has been in the news again this week, with US President Donald Trump again reiterating that the US needs the island nation for its defence ambitions.
Energy Transition Minerals shares were 25% higher at a new 12-month high of 20 cents early on Friday.
The company was valued at $317.1 million at the close of trade on Thursday.
