Antimony Resources Prepares for Make-or-Break Resource Report

Investors in Antimony Resources are counting down the days until late April, when the company expects to deliver its first formal resource estimate for the Bald Hill antimony project in New Brunswick. The timing is no coincidence — the definition drilling campaign that kicked off in February wraps up on April 28, clearing the way for SRK Consulting to finalize the NI 43-101-compliant assessment.

The Toronto-based consultancy has been crunching numbers from over 13,800 metres of cumulative drilling data. Management is targeting a release by the end of April or early May. A conceptual technical report already outlines an exploration target of roughly 2.7 million tonnes grading between 3% and 4% antimony, extending 700 metres along strike and reaching 350 metres in depth. That figure, however, remains a conceptual target rather than a confirmed resource under NI 43-101 standards, and additional work will be required to validate it.

Historical estimates had pointed to a resource range of 70,000 to 124,000 tonnes of antimony. The Bald Hill zone remains open to the north, south and at depth, suggesting room for expansion beyond the initial calculation.

Two drill rigs are currently active on site, pushing the main zone eastward and westward. Rock samples are being dispatched to a laboratory in Ontario, with the final batch of assay results feeding directly into the SRK report.

Permitting work accelerates alongside drilling

While the drill crew finishes its campaign, Antimony Resources is laying the groundwork for regulatory approval. GEMTEC Consulting Engineers and Scientists, based in Fredericton, has been contracted to develop a "roadmap to permitting" complete with a timeline for Bald Hill. Baseline environmental surveys are slated to begin in the spring of 2026.

The company expects a provincial environmental assessment will be required, with a federal review also possible. Regulatory discussions remain ongoing. Antimony Resources has already initiated contact with the Ministry of Indigenous Affairs and local municipal councils to identify affected Indigenous groups and stakeholders.

Geopolitical tailwinds remain intact

Should investors sell immediately? Or is it worth buying Antimony Resources?

The commodity backdrop continues to support the Bald Hill thesis. Antimony currently trades at $51.80 per kilogram, roughly 36% below the June 2025 peak but still more than 170% above early 2024 levels. The structural demand drivers — flame retardants, solar panels and defence applications — show no signs of weakening.

China imposed antimony export restrictions targeting the United States in December 2024, but suspended them for one year in November 2025. That pause runs through the end of November 2026. Should the curbs be reinstated, Western projects like Bald Hill would likely move back into the spotlight. The United States and European Union both classify antimony as a critical raw material, and nearly 90% of global production came from China, Russia and Tajikistan through the end of 2024.

Stock consolidates ahead of catalyst

GBC AG initiated coverage of Antimony Resources in April 2026 with a buy rating and a C$3.00 price target, citing New Brunswick's mining-friendly regulatory environment as a strategic advantage. The stock last closed at C$1.25, well below its all-time high of C$1.65 from mid-March. Technical resistance sits at C$1.35.

On a weekly basis, the shares have slipped roughly 5%, and the monthly decline stands at about 12%. Despite the near-term pullback, the stock remains well above its 200-day moving average, with a year-to-date gain of nearly 150%.

The company says it is fully funded for its 2026 exploration and development plans, meaning near-term dilution risk is minimal. The upcoming SRK resource estimate will provide the next hard valuation benchmark for Bald Hill. If the numbers land within the targeted range, the planned environmental assessment will move to centre stage as the next operational milestone.

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