16th Sep 2025 12:57
(Alliance News) - Harena Resources PLC on Tuesday reported plans to cross-trade in London and the US by listing on the OTCQB Venture Market.
The mining company targets rare earth deposits to supply the renewable energy production and defence manufacturing sectors. It took full ownership of Madagascar's Ampasindava ionic clay project back in August.
Harena said it intends to file an application with the OTC Markets Group for admission to its premier venue, in an effort to increase access for North American investors.
The firm has appointed Donohoe Advisory Associates LLC as its sponsor. Donohoe's services are exclusive to listings on the Nasdaq Stock Market, New York Stock Exchange and OTC Markets, Harenda noted.
Non-Executive Chair Ivan Murphy said the move recognises "ever-growing US critical mineral demand and breaking the reliance on China."
"Cross-trading on the OTCQB Market is an important step for the company as we seek to connect with key US stakeholders, including not only investors seeking exposure to our strategically important rare earth project, but also institutions and corporate partners," Murphy added.
The company's shares were flat at 1.80 pence on Tuesday afternoon in London, and have fallen 40% in the past 12 months.
Back in March, Citius Resources PLC was renamed Harena Resources after completing a reverse takeover. The same month, Harena praised an executive order from US President Donald Trump "mandating immediate action to enhance domestic mineral production".
Chair Tim Morrison commented at the time: "I believe that the Harena's Ampasindava project, with its existing large scale and defined rare earth element resource, is perfectly positioned both geographically and in its stage of development to feed this expanding market."
By Holly Munks, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Harena Resources