The situation is becoming critical everywhere! Are the next 300% gains already lurking at Antimony Resources, Rheinmetall, Hensoldt, or CSG?

Antimony Resources – Strategic reserves in the arena of global power politics

The investment thesis surrounding Canadian explorer Antimony Resources is fueled by a tectonic shift in the global commodity landscape, in which antimony has risen from a long-neglected by-product to a key strategic metal. This revaluation has been triggered by geopolitical tensions and export restrictions imposed by China, which controls around 70% of global production and has thus contributed to price movements from around USD 15,000 per ton to over USD 60,000 at times. Antimony is essential for military applications, special alloys, flame retardants, and selected high-performance batteries. It is officially considered a critical raw material with increased supply risk in the US, Canada, and the EU. The US government's announcement that it will build strategic raw material reserves underscores that security of supply is increasingly seen as a core industrial policy objective and that government actors are acting as well-capitalized investors. In this environment, projects in politically stable jurisdictions are coming into focus, especially when they reach significant scale.

Antimony Resources' core asset is the Bald Hill project in New Brunswick, which is considered the largest known antimony deposit in North America and has an exploration target of approximately 2.7 million tonnes with an average grade of 3-4% Sb. The more than 13,800 meters of drilling completed to date confirm a high-grade, structurally consistent system with mineralized thicknesses averaging three to four meters along a zone that has been traced for over 700 meters to date. A key operational step is the ongoing definition drilling program, which will use multiple drill rigs to achieve sufficient drill density to report a robust NI 43-101 compliant resource for the first time. Additional momentum was recently generated by the discovery of massive stibnite mineralization in the newly identified Marcus Zone, which was exposed at surface over a length of approximately 25 meters and is interpreted as a distinct structure. This expansion, adjacent to the Main and South Zones, not only increases the geological upside but also improves the strategic optionality of the project.

CEO James R. Atkinson describes key parts of his strategy in an interview with IIF host Lyndsay Malchuk.

https://youtu.be/6bjeA5Be2F0

Financially, the company is solidly positioned to consistently implement its ongoing drilling program following CAD 9.45 million in financing and an additional CAD 1.21 million from recent warrant exercises. The capital measures signal investor confidence in a market where strategic commodities are once again seeing increased inflows. Parallels to the early development of Almonty Industries Inc. can be seen in that a metal that was initially underestimated came to the fore due to geopolitical factors and triggered a significant revaluation. While tungsten has already gone through this cycle, antimony is still in the early stages of a structural supply shortage outside of China. The successful conversion of the exploration target into a proven resource remains crucial for the next valuation stage. With a market capitalization of only CAD 76 million, ATMY shares should be in line for a sharp revaluation. Stock up!

Rheinmetall and Hensoldt – Strong valuation figures already reflected in 2027

The defense sector is one of the key global consumers of strategic metals, as modern weapon systems would not be functional without specialized alloys, high-performance electronics, and precision-guided munitions. Leading European defense companies such as Rheinmetall and Hensoldt AG, which cover different segments of the security architecture, illustrate how pronounced this dependency has become. In recent years, Rheinmetall has consistently evolved from an automotive supplier to a diversified defense contractor and is benefiting significantly from rearmament within Europe and NATO. A record-high order backlog gives the company several years of revenue visibility, while billions in investments in new production lines are intended to alleviate bottlenecks in ammunition and armored vehicles. Management is promising a massive increase in revenue by the end of the decade, but this is already reflected in ambitious valuation figures. After an exceptionally strong price rally, the stock has entered a consolidation phase, meaning that further potential must first be underpinned by operational performance. CEO Papperger expects revenue of approximately EUR 35 billion by 2029, compared to just EUR 7.2 billion in 2023. At the same time, the group is investing billions in capacity expansion and new production lines to reduce bottlenecks in artillery ammunition and combat vehicles. In terms of valuation, however, the current price level with a 2026 P/E ratio of 40 already reflects high growth expectations. After a rally of over 2,000%, there has been no further chart high since October 2025. The stock, therefore, appears somewhat fatigued and seems to be waiting for a catalyst that could trigger a downward correction. From an investor's perspective, there is no need to wait for such a development, as it entails considerable downside risk. In terms of valuation, an entry level below EUR 1,400 would become attractive again. Wait and see – patience is required!

Hensoldt positions itself as a technological enabler of modern defense, particularly in the areas of radar, sensor technology, and electronic reconnaissance. The increasing importance of integrated air defense systems and digitally networked combat operations is strengthening demand for real-time data processing and complex system integration. At the same time, the company is highly dependent on critical intermediate products such as semiconductors, gallium, germanium, and rare earths, the availability of which remains subject to political influence. The increasing share of higher-margin service and software revenues, which generate recurring income and mitigate cyclical fluctuations in the project business, is having a positive effect. Here, too, the valuation signals a high level of confidence in a sustained increase in defense spending within the EU. Two additional aspects are therefore essential for investors. First, the question of government participation or industrial policy intervention is becoming increasingly important, as governments may increasingly view key companies as strategic assets. Second, the long-term financing structure is coming into focus, as the massive expansion of capacity requires considerable upfront investment, which can have a lasting impact on cash flow, debt, and return on capital. The valuation is comparable to Rheinmetall at a high level, with a 2026 P/E ratio of 41 and a revenue multiple of 3.8. Try your luck in the EUR 68 range – because that is where solid technical support lies!

CSG – Addition to the defense sector with a good stock market debut

The Czech CSG Group N.V. made its debut on Euronext in January with a valuation of over EUR 35 billion, immediately establishing itself as a heavyweight in the European defense sector. Under the leadership of major investor Michal Strnad, targeted acquisitions in the areas of ammunition and missile systems have created a broadly based defense group. However, after a dynamic stock market debut with a significant premium, the share price quickly cooled off. Operationally, the company plans to increase revenue from EUR 5.2 billion in 2024 to a total of EUR 7.6 billion by 2026, a very ambitious growth path that relies heavily on integration and economies of scale. With an expected price-to-sales ratio of over 4, the valuation is already challenging at the outset and already prices in a smooth expansion. Entries below EUR 25 are favored!

Global capital allocation is increasingly focused on strategic resilience, government security of supply, and control over critical value chains. Antimony Resources directly addresses this paradigm shift by developing a security-relevant commodity within a politically stable jurisdiction. For an investor portfolio, this creates a dynamic defense exposure in combination with established defense and security stocks, which is less dependent on the economy and more strongly supported by long-term industrial and security policy priorities.