Antimony Resources: Bald Hill Drilling Ramps Up as Market Puts the Stock Through a Correction

The antimony market is sending mixed signals. The strategic metal remains firmly on the radar of Western governments and industries alike, but the price has pulled back 36% from its mid-2025 peak, settling at $51.80 per kilogram as of May 29. That is still a 171.77% gain from the start of 2024, but the cooling trend is unmistakable — driven by substitution effects, fresh supply, and a temporary easing of the geopolitical pressure that had ignited the rally in the first place.

For Antimony Resources, this macro backdrop creates both an opportunity and a tension. The company is pushing ahead with the largest drilling campaign in its history at the Bald Hill project in New Brunswick, where 19,000 metres of expansion drilling are now underway. The strategy has shifted from simply delineating known zones to actively testing three new target areas with 6,000 metres of dedicated drilling, while 13,000 metres are allocated to the Main Zone. The work is complemented by regional soil surveys across the 37-square-kilometre property.

The project’s potential was outlined in a concept study last year that flagged a preliminary target volume of roughly 2.7 million tonnes at grades of 3% to 4% antimony — explicitly described as non-resource at the time. That caveat is now the most closely watched catalyst. Investors are waiting for the first NI-43-101 compliant mineral resource estimate, being compiled by SRK Consultants of Toronto with sample processing at Actlabs in Ontario. Originally expected in April or early May, the release is now overdue, and the anticipation has begun to weigh on sentiment.

That wait has been especially costly for the stock. After touching an all-time high of C$1.65 on March 17, shares of Antimony Resources have more than halved, closing at C$0.76 on May 28 — a gain of 8.57% on the day but still a 21% weekly loss and roughly 40% below the month-ago level. The correction has been amplified by thin liquidity typical of a junior explorer. On the US OTC market, the last trade was US$0.52, with volume barely exceeding 30,000 shares, and the daily range has been as narrow as US$0.50 to US$0.55.

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

The company’s financial profile reflects its early-stage status. In the half-year report through February 2026, Antimony Resources recorded no revenue, operating expenses of C$10.19 million and a net loss of C$10.33 million. Cash stood at C$8.24 million, with liabilities just under C$917,000. Exploration spending totalled C$2.64 million, of which C$1.59 million went directly into drilling and the balance into geological consulting at Bald Hill. As is normal for pre-revenue miners, future capital needs are expected to be met through private placements.

Behind the stock’s turbulence lies a geopolitical story that remains structurally bullish. China controls at least 60% of the global antimony market and has tightened export controls in successive waves. In October 2025, Beijing announced a sweeping new package of restrictions, only to suspend them for a year as part of a US-China trade truce. That suspension expires in November 2026. Importantly, the trade deal did not repeal the controls — exporters still need licences, and sales to US military end-users remain banned outright. The timer is ticking.

Both Washington and Brussels classify antimony as a critical mineral, and with no significant antimony mines currently operating in the United States, projects outside China’s orbit are drawing heightened attention. That structural tailwind is tempered, however, by the interim removal of immediate supply panic, which has taken some short-term heat out of the narrative.

Technically, the stock is bruised but not broken. It still trades more than 20% above its 200-day moving average, and weekly volatility has moderated from 28% to 19% over the past year — though it remains elevated relative to three-quarters of Canadian-listed equities. The market capitalisation sits at roughly C$75.4 million, while analyst coverage is thin. GBC AG initiated coverage in early April with a Buy rating and a C$3.00 price target; no other published targets have emerged.

Antimony Resources at a turning point? This analysis reveals what investors need to know now.

The next weeks will decide whether the correction proves to be a healthy reset or the beginning of a deeper de-rating. Three specific catalysts are lined up: the overdue resource estimate from SRK, initial assay results from the expansion drilling programme, and any progress on offtake negotiations. Meanwhile, the company intends to submit a formal permit application for Bald Hill by late 2026 or early 2027.

The market is pricing anticipation, not production. With the geopolitical clock reset to November 2026 and the balance sheet still carrying enough cash to fund near-term work, the fate of the stock rests squarely on the data from Bald Hill — and on whether the resource number, when it finally arrives, can rekindle the confidence that has so clearly evaporated over the past six weeks.

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Antimony Resources Stock: New Analysis - 31 May

Fresh Antimony Resources information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.

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