Trump shout out puts Dateline US gold-REE project | Australian Markets

ASX-listed Dateline Resources’ price rocketed 233 per cent increased to three cents as we speak on a huge turnover of 370 million shares after the company’s Californian Colosseum gold and uncommon earths project acquired mining approval. United States President Donald Trump publicly endorsed the gold and uncommon earth factor (REE) project, hailing it as “America’s second rare earths mine”.

The bombshell point out was delivered by way of a weekly replace on Trump’s Truth Social platform, sending ripples by way of investor circles and spotlighting the strategic significance of the California-based project.

“The Colosseum Mine, America’s second rare earths mine, has been approved after years of stalled permitting,” Trump posted.

The presidential seal of approval has unlocked a golden alternative for the company. Dateline can now check a compelling idea that the rocks surrounding its 1.1-million-ounce Colosseum gold project are geologically an identical to these at Mountain Pass, which is simply 10 kilometres north of Colosseum and home to America’s solely working uncommon earths mine.

Production at Mountain Pass began in 1952 with an eye-watering grade of 7 per cent whole uncommon earths. The mine continued to provide the overwhelming majority of the world’s uncommon earths from Nineteen Sixties to the Nineties, when Chinese manufacturing charges began to blow up.

The high-profile recognition of Dateline’s project has come sizzling on the heels of a game-changing inexperienced gentle from the US Interior Department (DOI), which final month upheld the validity of the company’s historic mining leases on the web site.

The DOI affirmation explicitly acknowledged Dateline may discover and extract each gold and REE from the project, which it stated was essential to “reducing dependence on foreign adversaries like China” for supplies important to power and defence industries.

With a bankable feasibility examine underway and uncommon earth exploration formally built-in into its fieldwork, Dateline can now formally resurrect the location as a twin gold-REE operation.

We have seen growing curiosity out of the US, significantly after latest milestones at our Colosseum project.

Colosseum is a uncommon geological gem, combining a confirmed gold system with promising uncommon earths potential. The deposit at the moment hosts a 27.1 million tonne JORC useful resource grading 1.26 grams per tonne (g/t) gold for 1.1 million ounces, with 67 per cent of that within the measured and indicated classes.

The company picked up the project from Barrick Gold in 2021 after the US mega-miner produced 344,000 ounces of gold earlier than operations had been suspended within the early ’90s as a consequence of a price collapse to US$350 per ounce.

Scoping examine work in October final yr outlined a strong eight-year mine life producing 75,000 ounces of gold per yr and delivering a tasty pre-tax web current worth of US$235M (A$367M) at a US$2200 (A$3443) per ounce gold price.

Dateline’s project is shaping up as a severe money-spinner, with all-in sustaining prices pegged at a lean US$1490 (A$2313) an ounce.

With gold now trading 47 per cent increased at a jaw-dropping US$3253 (A$5077) an ounce, management says Colosseum’s economics might be in for a main re-rate. Management says it’s now eyeing a project growth to increase the mine’s life and absolutely capitalise on the booming gold market.

With the federal authorities throwing its weight behind Colosseum, Dateline has wasted no time capitalising on the momentum. The company has kicked off its utility to uplist to the US’s OTCQB Venture Market to make its stock more accessible to North American traders.

From political podiums to Wall Street boards, Dateline’s Colosseum project seems to be gaining some severe traction.

With federal backing, a sizable gold useful resource, uncommon earth potential and a US itemizing in sight, the little Aussie battler is fast changing into a star participant within the American essential minerals area.

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