US antimony rush boosts Felix and AT4
Felix Gold has been selected by the US Department of Energy to negotiate up to $18 million in federal funding for its Treasure Creek antimony pilot plant in Alaska. The funding is part of a $162 million government program targeting technologies and projects capable of expanding US mining and mineral processing capacity.
Treasure Creek was one of only nine projects selected nationally, following the DOE’s technical, financial and security evaluations. Felix will now work with the DOE to finalise the scope of work, budget and schedule for the pilot program.
Antimony Production
Treasure Creek hosts an 831,000oz gold resource, but current activities are focused on antimony production – a mineral with applications across defence, electronics and other strategic industries. The company is already extracting antimony at the project under a 1600t bulk sample permit.
Management believes the direct shipping ore being produced exceeds the specifications required for military-grade concentrate. It is now seeking a multi-year production permit, with the start of full mining operations targeted for the first half of next year.
Testwork, plant engineering and site selection for a pilot plant are all also well advanced as Felix looks to deliver a US-based antimony smelter by the end of 2027.
American Tungsten & Antimony
American Tungsten & Antimony also saw its stock rise, despite not having any fresh news. Like Felix, the company is pursuing a strategy focused on supplying domestically sourced critical minerals for the American defence and industrial sectors.
It recently entered an agreement to acquire the Del Sol hydrometallurgical antimony flake refinery in Nevada, which also includes the White Spar antimony mine. The company plans to restart the Del Sol antimony flake circuit using White Spar feedstock in the current quarter, subject to completion of the acquisition.
The proposed restart is planned on a phased basis, with initial batches used to establish circuit performance before throughput is progressively increased. Del Sol is permitted to process up to 18,500 tonnes of feed annually, with plans underway to significantly expand capacity.
AT4 is targeting expansion to about 100,000tpa, alongside permits that would enable tungsten refining. The acquisition is expected to add downstream processing capability to the company’s portfolio of American antimony and tungsten assets.
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These include its Antimony Canyon project in Utah, which management believes is one of the country’s largest and highest-grade undeveloped antimony systems. AT4 also operates the Dutch Mountain project in Utah, which hosts historical tungsten mines and the region’s only fully permitted and operationally proven tungsten processing plant.
As the US government continues to support the development of domestic critical mineral production, companies like Felix and AT4 may benefit from increased investment and funding opportunities. This could potentially lead to an increase in antimony production and a reduction in reliance on foreign imports.
In the context of the US government’s efforts to expand domestic mining and mineral processing capacity, the selection of Felix’s Treasure Creek project for funding is a significant development. The project’s focus on antimony production aligns with the government’s goals, and the funding will likely play a key role in the project’s advancement.
Other Gains
European Lithium rallied after the terms of its proposed merger with US-listed Critical Metals Corp were sweetened. Its shareholders are set to receive more CRML shares under a revised agreement, with the duo replacing a previously fixed ratio with a floating alternative that is subject to a floor and ceiling.
Hawk Resources flew higher without divulging any news in today’s session. That said, the company recently fired up the rig to test near-surface mineralisation at its Cactus copper-gold project in Utah.
Ore Resources saw shares increase after a series of notable strikes at the Kangaroo Hills lithium project in WA, within its broader Coolgardie landholdings. The diamond drill campaign entailed seven holes for about 640m of drilling.
Five of the holes returned significant intervals, confirming the shallow, high-grade nature of the Big Red pegmatite system at Kangaroo Hills. One hole delivered 27m at 1.33% Li2O from 4m. It was sunk between two previously drilled other holes and returned about twice the anticipated mineralised thickness.
Investors are watching these developments closely, as they may impact the gold value and the overall mining industry.
