Red Mountain Mining Ltd: Auditor Appointment and Trading Halt

Red Mountain Mining Limited (ASX: RMX) has announced two significant corporate developments in late November and early December 2025. First, the company confirmed the appointment of Hall Chadwick NSW as its new auditor, effective 1 December 2025. Second, the company requested a trading halt on 2 December 2025, which will remain in place until the later of the commencement of normal trading on 4 December or the release of a full market announcement.

Auditor Transition

Hall Chadwick NSW, a prominent Australian and international auditing, accounting, and corporate advisory firm, will take over the auditing responsibilities previously held by RSM Australia Partners. The firm has a strong track record in the critical minerals sector, having recently completed a US$207 million SPAC IPO on Nasdaq focused on critical minerals, rare earths, and advanced manufacturing. The Australian Securities and Investments Commission has granted consent for the resignation of the former auditor, and the Board expressed gratitude for RSM’s past services.

This transition reflects Red Mountain’s ambition to strengthen its financial governance and audit quality as it pursues aggressive growth. The company maintains its focus on acquiring and developing gold projects in China, leveraging Australian mining methods to improve operations or convert projects into producing assets.

Trading Halt

On 2 December 2025, Red Mountain Mining Limited requested an ASX trading halt for its securities. The halt is effective from the start of trading on that day and will continue until the earlier of:

  • The resumption of normal trading on Thursday, 4 December 2025, or
  • The release of a comprehensive market announcement by the company.

The company’s request was communicated through ASX Compliance, and the announcement is pending release. Investors are advised to monitor the ASX website and the company’s investor hub for updates.

Context

Red Mountain’s share price has remained low, trading at AUD 0.03 on 30 November 2025, with a 52‑week high of AUD 0.048 and a low of AUD 0.006. Its market capitalization stands at approximately AUD 25.99 million, and the price‑earnings ratio is negative at –5.17, reflecting the early stage of its operations and the challenges inherent in critical minerals development.

The company’s strategy centers on joint ventures in China, where it aims to establish itself as an operating gold producer. By applying Australian mining expertise and modern exploration techniques, Red Mountain seeks to unlock the value of projects located in Tier 1 mining districts across the United States and Australia.

Outlook

The auditor appointment signals a commitment to robust financial oversight, while the trading halt underscores the company’s need to communicate material developments to the market. Stakeholders should remain attentive to forthcoming disclosures, which will clarify the company’s progress on project acquisition, development plans, and any impacts on its financial position.