January 27th, 2026 | 07:10 CET
Perpetua Resources and Mandalay as role models: How Antimony Resources is closing China's antimony gap
There are raw materials that have led a shadowy existence for decades, only to suddenly become a matter of national security overnight. Antimony is just such a case. The shiny silver semi-metal was invisible to investors for a long time, but geopolitical shifts have catapulted it into the spotlight. Without antimony, there would be no armor-piercing ammunition, no night vision devices, and no high-performance batteries for the energy transition. Alarm bells have been ringing in Western defense ministries ever since China, which dominates the market, drastically restricted exports of this strategic material, effectively using it as a geopolitical weapon. In this scenario, where physical availability is suddenly more important than price, a huge supply deficit is emerging. While the big mining companies often ignore this niche market, Canadian raw materials company Antimony Resources is positioning itself precisely in this gap. With a strategic project in stable Canada, the Company offers the answer to the question of where the West should source its antimony in the future.
time to read: 3 minutes
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Author:
Nico Popp
ISIN:
ANTIMONY RESOURCES CORP | CA0369271014
Table of contents:
Author
Nico Popp
At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.
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Perpetua and Mandalay: Proof of the sector boom
To assess the potential of Antimony Resources, it helps to take a quick look at the immediate market environment. The case of Perpetua Resources shows that the US government is taking the situation very seriously. The Pentagon is pumping more than USD 80 million into the Company to bring its stibnite project into production – a direct intervention by the state to secure domestic supply. However, Mandalay Resources in Australia proves that antimony mining can be hugely profitable even without government assistance. Thanks to its extremely high antimony content, the Costerfield mine is one of the most profitable projects in industry and serves as a cash cow for the group. However, this project also needs to be expanded in order to continue producing at this level beyond 2027. These two examples define the field: on the one hand, government support for security of supply; on the other, enormous margins due to high prices.
Antimony Resources: Strategic reserve in North America
Antimony Resources is likely to benefit from both. The Company focuses on reevaluating historical deposits in North America and developing them using modern methods. The centerpiece of the strategy is the Bald Hill project in the Canadian province of New Brunswick. For investors, the location is crucial: Canada is considered one of the safest mining jurisdictions in the world, far removed from geopolitical risks or arbitrary expropriation.
According to recent company announcements, Antimony Resources has already submitted a technical report for this project in accordance with NI 43-101 standards. This step is of fundamental importance for exploration companies, as it validates the geological data and elevates the project from the realm of pure speculation to the sphere of tangible resources. The Bald Hill project is not a blank slate – historical data points to significant deposits, which are now to be systematically expanded.
Antimony as a problem solver for the supply chain
The investment story of Antimony Resources is based on the simple logic of supply and demand. With China turning off the tap and Russia no longer a supplier, Western buyers, from the defense industry to battery manufacturers, are desperately searching for sources that are "NATO-compatible." Antimony Resources provides exactly that option: a North American asset with the potential to supply high-purity antimony.
Management is pursuing a clear plan. Instead of developing massive, capital-intensive projects in uncertain countries, it is focusing on deposits that offer a realistic chance of timely development. The latest news about Bald Hill's financing and operational development shows that the Company has a lot to offer in terms of aggressively advancing the project. In a market characterized by a structural deficit, every ton of proven resources is valued at a premium. In a recent interview with Lyndsay Malchuk of the International Investment Forum (IIF), Antimony CEO Jim Atkinson points out that Bald Hill could go into production with investments of between USD 200 million and USD 250 million.
Compared to other projects, this is not an excessive amount.
Conclusion: Antimony Resources has the right market environment and risk profile
Antimony Resources offers investors an attractive starting position. While Perpetua Resources has already priced in the "Pentagon billions" and Mandalay is long established as a producer, Antimony Resources is still perceived by the market as an early-stage explorer. This means that the stock does not yet include a "geopolitical premium," even though it solves the very problem that is currently causing Washington and Brussels the most headaches.
Of course, as an explorer, Antimony Resources is not for conservative savers – the risks of exploration and financing remain. But for speculative investors, the stock offers a rare constellation: a forgotten metal suddenly becomes indispensable, and a small company sits on one of the few possible solutions in a secure region. If the upcoming drilling and exploration results confirm the historical data and drilling already carried out, Antimony Resources could quickly become a takeover target for larger players who need to secure their supply. The stock is a hidden gem for anyone betting that the trends of recent months will continue or even intensify.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") currently hold or hold shares or other financial instruments of the aforementioned companies and speculate on their price developments. In this respect, they intend to sell or acquire shares or other financial instruments of the companies (hereinafter each referred to as a "Transaction"). Transactions may thereby influence the respective price of the shares or other financial instruments of the Company.
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