Diversified mineral explorer American Lithium Minerals (OTC:AMLM) is seeking to raise up to US$20 million ($28.22 million) to deploy across various projects in Canada and Chile. 

Speaking to Mining.com.au, CEO Ryan Cunningham says the company will deploy capital across different projects that are in different stages, whether it be drilling or development and production activities. 

“We have a gold project in British Columbia that’s called the Nugget Trap that is fully permitted and ready to go – so obviously, the capital is going to go there quickly to mine this summer,” Cunningham says. 

“But we have other projects, like our projects in Chile, that we’re looking to start drilling in the next couple of months. So we’ll have things going on in different parts of the world on different projects and a lot of movement.”

The US$20 million offering is running for the next 12 months unless the funds are raised earlier. 

Cunningham adds that as money comes in, it will be deployed. 

“We’re not going to be sitting on money,” he tells this news service. 

“We’ve definitely got firm use for it and we’re really excited to be in production of gold this year.”

Over the past month, gold’s price has risen 7.47% and is up 73.4% compared to the same time last year, as reported by Trading Economics. At the time of writing, gold’s price sat at US$5,027 an ounce. 

Set to uplist

In addition to the offering, American Lithium Minerals is seeking to uplist to either the OTCQB Venture Market or Nasdaq. 

President Frank Kristan explains that the uplisting will give the company access to more capital. 

“You’re limited with the regulation A with the amount of capital coming in, but you could also uplist then for a larger amount of money and it gives you better access to the capital with the audited statements and the uplisting,” Kristan tells Mining.com.au. 

When American Lithium Minerals was acquired, it did not have audited statements. As such, the company is in the process of getting the last two years audited, which was for the year-end 30 September 2024 and 2025. 

“We’re currently having those assets appraised. With that audit being completed, that would then enable us to qualify for an uplisting,” Kristan notes.

The uplisting is contingent on when the audits are completed. Upon completion, American Lithium Minerals expects it would take 30 to 60 days from when it can make the filing. 

As previously reported, the attraction of mining companies listing on multiple exchanges has increased in recent years. 

While there is no single, real-time database tracking all dual-listed mining companies globally, the Toronto Stock Exchange (TSX) and TSX Venture Exchange collectively host around 40% of the world’s publicly listed mining companies. 

From that base, a large portion interlist on offshore exchanges, such as the Australian Securities Exchange (ASX). 

Simon Rear, partner at law firm Gilbert + Tobin, previously explained to this news service that the growing appeal of US markets is driven by government incentives and loans to critical mineral explorers and producers, as well as the “frothiness” created around critical mineral extraction and refining. 

According to HWLE Lawyers, dual listings have been a strategy used by companies to expand their market for a long time. The key benefits include liquidity, longer trading hours, flexible conversion, and reduced exposure. 

“With a re-allocation of investment funds out of other industries such as technology into resources, now would be a good time to enter the US,” Rear explained. 

Cunningham and Kristan say the market has seen a lot of companies wanting to come to the US market for the depth. 

“You have these Australian listed companies that actually have projects outside of Australia, such as Canada, Mexico or Thailand and they get better coverage in the US if they’re a US-based company or even South American rather than the Australian investors who like to take a punt, as they say,” Kristan says. 

A diversifying platform 

American Lithium Minerals began as a Nevada-based lithium explorer and has since expanded into a diversifying commodity acquisition platform – designed to acquire, operate, provide capital and tokenise real-world assets across gold, silver, lithium and rare earths. 

The company has a wholly owned subsidiary American Mineral Resources. 

In January 2026, the company acquired two Chilean projects – La Grande Plata and Furano – from privately held Aeramentum Resources, reflecting a strategic broadening focus rather than a departure from lithium. 

There have been no material new discoveries since the deal closed, the technical team has been able to refine its understanding of the projects by consolidating historical data, surface sampling, and regional geological context. 

“This work has helped prioritise specific target zones and structures that appear most prospective for follow-up drilling,” Kristan previously told this news service. 

“Importantly, the projects are located in well-understood mineral belts, which gives the company confidence that upcoming drilling will meaningfully expand on known mineralisation rather than starting from a greenfield position. 

Over the next three to six months, American Mineral will focus on advancing the projects from an evaluation and permitting phase into active execution. The activities include finalising drill plans, securing contractors, and completing any remaining regulatory or logistical requirements ahead of drilling. 

In parallel, the company expects to provide clear updates on project sequencing, including which assets will be prioritised. 

Original Mining.au article