For Australian investors seeking exposure to the next wave of critical mineral themes – and who isn’t after the Albo-Trump pact?) – EV Resources (ASX:EVR) is quietly carving out a strategic runway in antimony. And, it’s doing so with clear steps, solid jurisdictional logic, and a backdrop that says “this matters.”
This article is disseminated in partnership with EV Resources Ltd. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Los Lirios: EV Resources antimony anchor
At the heart of EVR’s pivot lies a key anchor: Los Lirios. EVR holds a 70% interest in the Oaxaca Antimony project in Mexico (which totals three licences across 1,552 hectares) through a joint venture. The project contains historic open pits and underground workings, and grab samples as high-grade as 62% antimony have been reported. In February, EVR reported assays up to 29.17 % stibnite from stockpiles.
Beyond that, EVR has further announced metallurgical testwork: A composite sample returned 4.45 % Sb with exceptionally low impurities and demonstrated the suitability of gravity separation for recovery. The company’s website confirms the Los Lirios project offers “consistent high grades, clean metallurgy, and simple, low-cost processing pathways,” and that this asset is well-positioned to become a meaningful contributor to the global critical-minerals supply chain.
Albo-Trump makes all these moves crucial
Why does this matter to Aussie investors? Because antimony is a red-hot element in the critical minerals narrative. It’s classified as a critical mineral by the U.S., Europe, and Australia alike, and the global supply side is under pressure, notably given China’s dominance and supply restrictions. Heck, look at the headline-grabbing meeting our Prime Minister literally just set up with the U.S. President just to figure out all their plans on that front. If that doesn’t scream ‘red-hot’ to you, then nothing will.
With a premium commodity, a high-grade project in a favourable jurisdiction, and a near-term production pathway emerging, EVR’s Los Lirios story is one of those quiet build plays where the market may gradually begin to wake up. Making sure you’re the first one out of bed is always key in these cases.
The shift: From opportunistic to focused
It’s worth noting EVR hasn’t always had antimony front and centre in its grand plans. In seasons past, the explorer held a broader metals portfolio, including other antimony/copper assets in the U.S and copper-molybdenum-silver in Peru. The pivot into antimony signalled a sharper focus, the company said.
“We see the supply gap, we are stepping in” was the emerging tone, and once EVR spotted the opportunity, it pounced. The divestment of non-core assets helped fund the repositioning, with the Oz company selling its Utah assets and the La Cienega copper project in Arizona to needle in on Los Lirios entirely.
In short, the opportunistic period is over. It’s a new period for EVR with a clear priority and mission objective: Critical minerals supply in North America.
EVR’s steps to execute the antimony strategy
It’s not just been an announcement of intent from the Australian explorer either, with EVR already taking the kinds of actions you’d expect from any company getting on the front foot at just the right time.
These forward-thinking actions included:
- EVR executed a memorandum of understanding with specialist trading company Wogen Resources and capital adviser Xcelsior Capital Advisors in August for a potential secured debt facility of $3.1M to $4.6M and offtake rights for antimony products from Los Lirios,
- Metallurgical testwork; confirming gravity and flotation as likely paths, and planning a pilot 100 tonne/ day (tpd) plant,
- Securing 100% of the Dollar Antimony Project in Nevada in September, aligning with its antimony supply theme,
- Signing a lease-with-option-to-purchase acquisition of the fully-established 150 tpd processing plant in Tecomatlán, Puebla, just 50km from Los Lirios,
- And, appointing Mike Brown as managing director and CEO, explicitly to “drive North American antimony supply strategy.”
These tick some pretty important boxes, not least ownership of a high-grade project, securing processing infrastructure, building a pipeline of key additional assets, setting up funding/offtake frameworks, and guaranteeing a leadership suite that aligns with the company’s ambitious strategy.
What does it mean?
Firstly, the near-term production pathway is real. With that plant acquisition so close to Los Lirios and metallurgical testwork confirming favourable clean metallurgy, EVR is positioned to move beyond exploration to potential early concentrate production. With supply outside China limited, that’s never been more important.
Secondly, the North American supply theme is explicit. By acquiring U.S. assets like Dollar and appointing an MD experienced in the region’s critical minerals, EVR has signalled that it intends to deliver on the U.S. frontline.
Finally, execution risk does still remain – no junior can avoid that. The market will be watching on that front, with maiden drill results at Los Lirios, future resource definition, and the processing plant commissioning all the big milestones the explorer is looking to clear through the coming months.
The prize there: Re-rating, should EVR deliver in spades.
EV Resources: For a long time, as well as a good time
EV Resources has made it entirely clear this is not a short-term pivot but a long-term commitment. The company’s language around “becoming a key supplier of antimony to U.S. markets”, “North American supply security,” and “fast-track production while building exploration depth” underscores this.
That pledge, tied with the U.S. and Mexico focus, leadership, a high-grade project, funding, and leadership, sets the antimony blueprint. Now – delivery is next up.
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