Resources Top 5: Trifecta of critical minerals gainers gallop ahead of Albo-Trump talk

• PNN seeks dual-listing on OTCQB to gain greater US exposure
• Pouring 100% American-made antimony ingot marks milestone for LKY
• RML boosts cap raise to $27m with $2m from Tribeca Investment Partners

Your standout small cap resources stocks for Monday, October 20, 2025. 

Power Minerals (ASX:PNN)

There is a growing number of ASX-listed resource companies entering the US as the world’s largest economy seeks to establish domestic supply chains for critical metals, supported by government initiatives, and today’s Resources Top 5 features a trifecta of juniors who have made market gains.

The increases for Power Minerals (ASX:PNN), Resolution Minerals (ASX:RML) and Locksley Resources (ASX:LKY) come on the eve of meetings in the US between Australian PM Albanese and President Trump with critical minerals cooperation high on the agenda.

Power Minerals (ASX:PNN), which is moving to list on the OTCQB to gain greater US exposure for its Gamma rare earths and uranium project in California, closed at 19c, a lift of 5.56% after reaching 21.5c earlier in the day.

The company has increased from 7.2c at the market close on September 11 on the back of positive critical minerals news from the US and Brazil.

PNN is confident the move to list on the Over the Counter Venture Market (OTCQB) will give it greater US exposure for the Gamma rare earths and uranium project in California.

US investors are particularly aware that the Gamma project contains heavy rare earths, which are less prevalent and more valuable than light rare earths.

While retaining its ASX listing, PNN is also mulling a subsequent Nasdaq uplisting, targeting a similar audience as MP Materials, the owner of the nearby Mountain Pass Mine.

The company is looking to tap into a similar investor base that has boosted MP Material’s share price 10-fold since August 2024.

PNN managing director Mena Habib said the OTCQB listing aligned with Power’s vision of becoming a globally recognised developer of heavy rare earths in the US.

“Since announcing the potential acquisition of the Gamma Project, we have seen increasing interest from US institutions and retail investors in the Gamma Project, which is located in the same region as the MP Materials project,” he said. 

“With favourable market sentiment and rising strategic interest in secure supply chains for rare earths generally, PNN is well positioned to offer US investors access to what we consider to be an exciting potential heavy rare earth project.”

Locksley Resources (ASX:LKY)

Locksley Resources (ASX:LKY) passed a milestone for US critical minerals independence on pouring a 100% American-made antimony ingot, marking the country’s first domestically sourced and refined antimony metal in decades.

Sourced from the company’s Mojave Desert Antimony mine in California and refined by Hazen Research in Colorado … the ingot marks the only known mine-to-metal antimony supply chain entirely within the US, independent of Chinese processing.

It validates the company’s strategy to develop a US supply chain and coincides with Australian PM Albanese’s visit to Washington for meetings with President Trump highlighting Australia’s growing role in strengthening US critical minerals self-sufficiency. 

The breakthrough saw Locksley reach 57.5c, a lift of 17.35% on the previous close, before closing at 57c.

Locksley is working closely with its strategic partners and Washington DC-based advisors, GreenMet, to advance permitting and funding initiatives to support the next stage of the company’s commercialisation strategy.

“This is a defining milestone for Locksley and the United States. The successful casting of the first 100% American made antimony ingot in decades demonstrates mine-to-metal production is not only possible but is already underway,” Locksley CEO Kerrie Matthews said.

“We’ve proven the concept, and now our focus turns to scaling this achievement into a sustainable, commercial supply chain that supports America’s industrial and defence sectors.

“This is just the beginning, the foundation has been set, and we look forward to updating the market on the next steps for Locksley and its strategy to support America’s critical minerals independence.” 

With proof-of-concept achieved, Locksley is now transitioning from validation to pilot-scale and pre-commercial operations in the United States. 

The next phase of work will focus on scaling, refining and positioning the company for government and industry engagement.

Resolution Minerals (ASX:RML)

Completing the treble, Resolution Minerals (ASX:RML) has bolstered recent capital raising efforts to $27 million and closed up 33.72% at 11.5c after hitting a 3-year high of 12.7c.

The $2m addition at 8c per share is from Tribeca Investment Partners, a global fund manager focused on natural resources, which has been allocating significant capital to the US critical minerals sector.

Following its well-supported $25m placement earlier this month, this additional $2m placement positions RML for growth and allow it to continue to advance exploration at the Horse Heaven project in the US, while building out its downstream strategy with a view to becoming a key supplier of critical minerals to the US government.

The company said Tribeca’s backing, given its deep focus on critical minerals and US supply chain investment, validated RML as one of the companies potentially in pole position in developing a top-tier US critical mineral asset.

Funds will be used to explore downstream critical mineral initiatives, continue drilling at the Horse Heaven project, future drilling and surface sampling, identification and acquisition of additional strategic assets and progress its other exploration projects.

BPM Minerals (ASX:BPM)

The path is being cleared for the maiden RC drilling program of BPM Minerals (ASX:BPM) at the Forelands gold project in WA.

A program of work for the 3000-metre, 25-hole campaign has been approved, a heritage survey with members of Upurli Upurli Nguratja is scheduled for October 31 and drilling is set to kick off in mid-November 

This campaign will target the high-grade Beachcomber prospect, where historical hits include 3m at 65.8g/t Au, 9.7m at 4.5g/t and 3m at 13.5g/t.

“The upcoming heritage survey marks the final hurdle before we launch our maiden drilling program at the high-grade Beachcomber Prospect,” BPM CEO Oliver Judd said.

“It has been a great effort by the team to get the project into this position over the past few months, with a high-impact drilling program set to deliver for shareholders over the coming months.”

Pivotal Metals (ASX:PVT)

Electromagnetic surveying at Pivotal Metals’ (ASX:PVT) Midrim project within the Belleterre project area in Quebec has revealed a new, untested conductor below the Alotta high-grade deposit.

The fixed-loop time domain electromagnetic surveying delineated a large conductive plate directly below the known zone of massive magmatic sulphide mineralisation at Alotta which hosts very high-grade copper, nickel, platinum and palladium values from surface to about 90m depth.

It extends the deposit’s potential by an additional 150m down-plunge with the plate remaining open to the east due to seasonal limitations in survey coverage.

What’s more important for PVT is the indication that drilling from the northeast is the optimal drill orientation, which contrasts with historical holes that were completed from the southwest.

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Power Minerals, Locksley Resources and Pivotal Metals are Stockhead advertisers, they did not sponsor this article.