Antimony Resources Corp (CNSX: ATMY) (OTCMKTS: ATMYF) (FRA: K8J0) listed shares on OTCQB market this week to help boost its exposure in the United States. The junior critical mineral miner thinks the move will help increase liquidity while broadening its base of investors in American capital markets.
The company revealed the strategic move on Nov. 18. Antimony is in high demand in the U.S. at the moment and the decision is not surprising considering the current market dynamics.
“This uplisting [to the mid-tier OTC Markets Group Inc (OTCMKTS: OTCM) market] marks an important step in our growth strategy,” said chief executive Jim Atkinson in a press release announcement.
The Canadian mining company is solely focused on antimony and has one flagship exploration project in New Brunswick. Earlier this month, the junior explorer filed an NI 43-101 Technical Report at the Bald Hill property. This formalized document is required for projects operated by Canadian stock exchange-listed mining firms.
It includes a comprehensive record of previous work and an up to date log of recent activities. The report determined that Bald Hill could potentially yield up to 108,000 tonnes of contained antimony (Sb).
Antimony Resources is in the midst of completing a 6,000 metre drill program. The company will determine the viability of producing a mineral resource estimate once that is completed. High-grade cores containing up to 11.7 per cent Sb have recently been intercepted at the site.
Antimony Resources currently trades an average of 471,000 shares per day at C$0.43 apiece on the Canadian Securities Exchange and has a market cap sitting at C$16.25 million.
Despite the optimism associated with the new listing, report and drill results, antimony prices are cyclical and can swing sharply. A significant decline in its price could undermine the project’s economics and be detrimental to the early-stage operator.
Transitioning from exploration to producing involves extensive permitting, environmental assessments and funding. These obstacles could delay or curb development if the current pricing environment changes.
Antimony is critical mineral needed for an array of military tech, ammunition, lead-acid batteries, flame retardants, semiconductors and solar equipment. Its price has risen sharply since early 2024 and the commodity has been drawing unprecedented attention in the mining sector.
Read more: NevGold surges after closing C$10M financing deal
Follow Rowan Dunne on LinkedIn
rowan@mugglehead.com
