EV Resources locks in historical antimony project | Australian Markets

EV Resources has formally sealed a 70 per cent stake in its high-grade Los Lirios antimony mine in Oaxaca, Mexico. The company now goals to fast-track the essential minerals project in the direction of mine development due to a string of current value-accretive project divestments.

The company has executed a binding project of mining rights over the 1552-hectare project, which incorporates three mining concessions. The three historic open pits and a number of underground workings beforehand churned out commercial-grade direct transport ore (DSO). EVR owns 70 per cent of a new three way partnership entity that holds the project.

It will now look to leverage proceeds from a number of current shrewd divestments to fast-track development at Los Lirios, positioning itself to capitalise on an skyrocketing antimony market amid world, Chinese-controlled provide constraints.

EVR will now steer the ship at Los Lirios, offering management and capital to ramp up manufacturing to a focused 300 tonnes DSO per day.

The company is losing no time, with 30-kilogram samples already present process ore characterisation and mineralogy evaluation. It expects to quickly obtain the outcomes. The samples will feed into restoration check work centered on gravity strategies, which have confirmed efficient for antimony in Mexico.

EVR can also be in talks with house owners of permitted plant websites to determine a pilot processing plant. Its aggressive timeline will look to money in on its staggeringly high-grade ore, which incorporates stockpile assays as high as 29.17 per cent stibnite – the first antimony sulphide ore.

Fuelling this formidable push are the proceeds from the company’s current portfolio rationalisation, together with the current blockbuster sale of its Yanamina gold-silver project in Peru to TSX-listed Daura Gold for up to US$6 million (A$9.3M).

Similarly, EVR lately disposed of its Coyote Creek antimony project in Utah to Trigg Minerals for a useful $450,000 in money and shares, delivering a tidy revenue on an asset acquired for much less than $150,000 only one month earlier.

The sale of the La Cienega copper project in Arizona to Magnum Mining and Exploration, with a 2 per cent royalty on future manufacturing, additional bolsters the company’s future earnings potential.

The savvy divestments have armed EVR with a conflict chest to speed up development at Los Lirios and its Parag copper-molybdenum porphyry project in Peru. The company’s strengthened money place permits it to fund essential exploration and development actions, together with sampling, trenching and drilling applications, that are set to kick off at Los Lirios early subsequent yr.

EVR is eyeing strategic partnerships to unlock Parag’s huge porphyry-style potential, after a earlier drilling program delivered some eye-popping molybdenum intersections comparable to 18 metres working 1.7 per cent copper and 0.4 per cent moly from simply 11m.

As Los Lirios shapes up as a cornerstone asset for the company’s Americas-focused strategy, EVR can now channel its divestment proceeds to fast-track its antimony provide. That might additionally help relieve the unprecedented market strain pushing the price of the essential steel to a huge US$60,000 (A$92,000) per tonne.

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