Antimony Resources at a Defining Moment: High-Grade Hits, a Lock-Up Expiry, and a Falling Antimony Price Collide at Bald Hill
19.06.2026 - 23:25:35 | boerse-global.de
The final days of June are shaping up to be a make-or-break period for Antimony Resources. Two pivotal events are converging at the Bald Hill project: the long-awaited maiden resource estimate under the NI-43-101 standard, and the expiration of a lock-up agreement that could unleash fresh supply of shares onto the market. Investors are left weighing record drilling intercepts against a slumping antimony price and looming dilution fears.
The tension is already visible in the share price. The stock fell nearly 7 percent on Friday to €0.39, extending a one-month slide of roughly 25 percent. Earlier in June the decline had been more contained at 19 percent, but the pace of selling has quickened as the twin deadlines approach. The current level sits well below the 200-day moving average of €0.45 and is a long way from the 52-week high of €1.05. Still, anyone who bought a year ago is sitting on a gain of around 500 percent — a testament to the extraordinary rally that preceded this correction.
Those gains were fueled by a string of high-grade drilling results. The latest assays from the Main Zone returned antimony grades of up to 36 percent over a true width of 13.2 metres. The company is now ramping up its exploration program to 18,000 metres of drilling over the coming months, targeting extensions to the north, south and at depth. New targets are also being tested at the Marcus, BH Central and BH South zones, with 1,500 metres already completed in the central area to confirm surface showings. CEO Jim Atkinson said the discovery of multiple mineralised zones validates the enormous potential of the entire property. A separate southern zone, 900 metres from the Main Zone, delivered an average grade of 19.5 percent antimony, opening yet another exploration front.
Should investors sell immediately? Or is it worth buying Antimony Resources?
The impending resource estimate from SRK Consultants will put a formal number on all these intercepts. Expectations have been shaped by an earlier conceptual target of roughly 2.7 million tonnes of ore. A pre-existing technical report also suggested a range of 70,000 to 93,000 tonnes grading 3 percent antimony, or alternatively 124,000 tonnes at 4 percent. SRK’s assessment will determine which — if any — of those figures holds up to the strict NI-43-101 standard. The report was originally due in April or May, and the delay has tested shareholder patience. A 25,000-metre drill program has already confirmed the Main Zone extends over 700 metres in length and 350 metres in depth, providing a solid foundation for the estimate.
Compounding the uncertainty, a lock-up period expires on June 29. Antimony Resources raised roughly C$9.5 million in a placement priced at C$0.45 per share, with each unit including a warrant exercisable at C$0.75. Since the current stock price of around €0.39 is below the placement price, some investors may look to cut their losses once the holding restriction lifts, adding potential selling pressure at a time when sentiment is already fragile.
The operational narrative remains positive. Antimony Resources is advancing permits toward a formal construction application by the end of 2026, and initial metallurgical tests have shown a high recovery rate of 92 percent. But the macro environment for antimony has turned decidedly less favourable. The metal’s price has dropped 36 percent from its June 2025 peak. China’s decision to suspend its export ban on antimony to the United States until November 2026 has eased supply-chain fears, while new substitute materials are also weighing on demand. Both the US and EU classify antimony as a critical raw material, but near-term price weakness is overshadowing that long-term tailwind.
The next few days will test whether the SRK resource estimate can be compelling enough to soak up the potential overhang from the lock-up expiry. A strong result could validate the project’s scale — Bald Hill may rank among the largest undeveloped antimony deposits outside China — and give buyers a reason to step in. A disappointment, on the other hand, would leave the stock exposed to both weak commodity prices and excess supply. The market is watching the Bald Hill story shift from speculation to a concrete valuation, and the verdict is due any day.
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