Can Terra’s US OTC Listing and Drilling Programs Deliver on High Expectations?

Strategic Rebranding and Portfolio Expansion

In a decisive move to reflect its evolving focus, Terra Uranium Limited has rebranded as Terra Critical Minerals Limited (ASX – T92). This change underscores the company’s expanded exploration portfolio, which now spans tungsten, tin, molybdenum, bismuth, silver, antimony, and uranium across Australia, Canada, and the United States.

Terra’s multi-commodity approach positions it to capitalize on the growing global demand for critical minerals essential to clean energy and advanced technologies. The company’s projects in the New England region of New South Wales (NSW) and the Athabasca Basin in Canada remain central to its growth strategy.

US Market Entry and OTC Listing

Terra has initiated a strategic expansion into the United States by broadening its agreement with Axiom Group. This partnership aims to identify and develop rare earth elements (REE) and antimony assets across the US, tapping into a market buoyed by significant government funding initiatives to accelerate critical minerals development.

To support this expansion, Terra has appointed Alex Sunderland as a US-based technical advisor and commenced the process to list its shares on the US OTCQB market. This listing will enhance liquidity, provide access to a deeper pool of North American capital, and allow trading in US dollars during American market hours, aligning with Terra’s growing US footprint.

Advancing Australian Critical Minerals Projects

Terra’s Australian operations have seen significant progress, notably with the acquisition of Dundee Resources Pty Ltd, which holds the Glen Eden project, the largest undeveloped tungsten project in NSW. The Glen Eden exploration target is estimated at 20 to 30 million tonnes with promising grades of tungsten, tin, and molybdenum, supported by historical drilling and geological modelling.

Other key NSW projects include the Ottery Tin Mine, which has demonstrated high-grade tin, silver, and gold mineralisation in historical drill results, and the Mole River project, where extensive high-grade silver and antimony samples have been identified. The Castle Rag Silver project also revealed new high-grade silver mineralisation, reinforcing Terra’s position in the region.

Canadian Uranium Exploration and Partnerships

In Canada’s Athabasca Basin, Terra holds a substantial portfolio of uranium exploration claims. The company has entered option agreements with ATHA Energy Corp., allowing ATHA to earn up to 60% of the Pasfield Lake project while Terra can acquire up to 70% of ATHA’s Spire and Horizon projects. These collaborations aim to optimize exploration efforts and leverage ATHA’s local expertise.

Drilling programs are planned for 2025 and 2026, targeting high-priority zones identified through advanced geophysical surveys. Terra’s focus on uranium aligns with the rising global demand for clean energy, supported by favorable market dynamics including rising uranium prices and government initiatives in the US and Canada.

Financial Position and Market Outlook

Terra closed the September quarter with a cash balance of approximately A$0.61 million, following a July capital raise of A$864,000. Operating and exploration expenditures remain modest, reflecting a disciplined approach to capital management as the company advances its exploration programs.

Market conditions for both uranium and tungsten remain robust. Uranium prices have recently tested 15-month highs amid increased nuclear energy investments and supply constraints. Similarly, tungsten prices have surged due to tight supply and strong demand for raw materials. These trends provide a supportive backdrop for Terra’s critical minerals strategy.