Antimony Resources: Drill Results Defy Gravity at Bald Hill, But 21 Million New Shares Keep the Stock Grounded
Published on 07/12/2026 at 05:04 | Redaktion boerse-global.de
The timing could hardly be more frustrating for Antimony Resources investors. The company has just delivered some of the highest-grade antimony intercepts ever recorded at its Bald Hill project in New Brunswick, with one drill hole returning 33.40% antimony. Yet the stock closed at €0.37 on Friday, down 3.66% on the day and marking a seventh consecutive weak session. The disconnect between exceptional geology and a sinking share price stems from a plain structural reality: 21 million additional shares hit the market when a lock-up period from a private placement expired at the end of June, amplifying selling pressure from profit-takers who rode the stock up from last year's lows.
The weekly loss of 14.42% brings the month-to-date decline to 9.80%, and the stock now trades 65.08% below its 52-week high of €1.05 set on March 17, 2026. Those looking for perspective can note that the shares remain 379.17% higher than a year ago, a reminder of the explosive rally triggered by China's tightening grip on antimony supply chains. But the near-term price action tells a story of supply overwhelming demand in the equity itself, even as the underlying commodity thesis strengthens.
China has restricted export licenses for antimony in 2026 and 2027 to just 11 designated firms, building on earlier curbs on dual-use materials destined for U.S. military buyers that took effect at the end of 2024. With Chinese refineries controlling nearly 90% of global processing capacity, North American sources of stibnite — the primary antimony ore — have become strategically critical. Bald Hill is positioning itself as a potential Western alternative, and the drilling results from the Main Zone offer compelling geological evidence.
Four recently completed holes delivered consistently high-grade mineralization. BH-26-20 returned 13.14% antimony across a 4.5-metre interval, while BH-26-25 produced two exceptional intercepts of 16.65% and 33.40% antimony. BH-26-27 cut 15.9 metres of continuous mineralization. These widths and grades are rare in antimony exploration and, analysts argue, significantly reduce the geological risk attached to the deposit.
Should investors sell immediately? Or is it worth buying Antimony Resources?
The German research house GBC AG sees enough promise to maintain a "Buy" rating with a target price of C$3.00 per share, unchanged from its last update in May. The firm notes that repeated confirmation of high antimony grades across multiple drill holes is systematically improving the confidence for resource modeling. The market appears to be looking past this view for now, waiting for a more concrete economic proof point.
That proof point is expected to arrive in the third quarter of 2026, when SRK Consultants delivers the first NI-43-101 resource estimate for Bald Hill. Unofficial chatter has floated July 23 as a possible preliminary update, though the company has not confirmed that date. The target outlined in geological models envisions a resource of 2.7 million tonnes grading between 3% and 4% antimony, which would imply contained metal of roughly 70,000 to 123,700 tonnes — figures consistent with the exploration targets disclosed in earlier company statements.
Chart technicians see a stock in clear near-term distress. The €0.37 close sits 20.10% below the 50-day moving average of €0.46 and 21.45% below the 200-day average of €0.47. The 14-day relative strength index of 41.2 signals selling pressure without yet reaching oversold territory — the 30-point threshold that would typically attract bargain hunters remains some distance away. The 30-day annualized volatility of over 100% underscores the speculative nature of the name.
Antimony Resources at a turning point? This analysis reveals what investors need to know now.
For the week ahead, the key test is whether the €0.37 level holds as support or gives way to a retest of €0.35. The stock's historical 52-week low of €0.07 from July 14, 2025 offers a reminder of how far the shares have traveled, but the more immediate challenge is the overhang of 21 million free-trading shares. Until that supply is absorbed, even outstanding drill results may struggle to lift the stock decisively. The upcoming resource estimate, if it confirms the scale and grade of Bald Hill, could be the catalyst that finally shifts the balance.
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