Altamin raises 2m for Italian project
Altamin has received a $2 million cash advance from the Victor Smorgon Group for its Italian critical minerals project, avoiding dilution of equity while advancing the Lazio and Gorno polymetallic projects. The funding will help secure rights in the Cesano geothermal area for a proposed processing plant and logistics assets.
According to the company, this non-dilutive funding enables them to pursue a favorable opportunity to negotiate and extend tenure of the Lazio project, in parallel to finalizing the scoping study. CEO Geraint Harris says the company is fortunate to have the financial support of its major shareholder.
The Lazio project is a geothermal brine resource in the Cesano field north of Rome, Italy, and plans to extract critical raw materials like lithium, sulphate of potash, and boron using geothermal energy. This could strengthen Italy’s domestic supply of these materials, reducing reliance on imports.
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Altamin’s project could provide a boost to Italian supply chains, particularly for the agricultural and energy sectors. They have a long-term vision for the Lazio project, which includes delivering shareholder value through sustainable extraction of critical minerals.
American Tungsten & Antimony has made progress with its Del Sol antimony refinery and White Spar antimony mine, with plans to restart and expand operations. They have issued Requests For Proposal to top engineering firms for capacity expansion and the addition of new circuits at Del Sol.
The restart of the Del Sol antimony flake circuit could begin as soon as the September 2026 quarter, aligning with President Donald Trump’s deadline to reduce reliance on Chinese imports. AT4 has also had pre-application talks with the Nevada Division of Environmental Protection on plans to expand permitted commercial antimony refining.
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Operating data from Del Sol is expected to support expansion studies and planned applications for US Government funding programs. While no JORC-compliant mineral resource or ore reserve has been estimated for the White Spar antimony mine, mineralized material has previously been extracted and processed at the Del Sol Refinery.
Albion Resources has received approval for a maiden drilling campaign at its Gidgee gold project in Western Australia, with plans to commence drilling in August. The project sits in the highly endowed Gum Creek Greenstone Belt and has generated numerous high-quality targets through recent soil geochemistry programs.
