Antimony Resources Ploughs Ahead at Bald Hill as Antimony Supply Squeeze Intensifies

The race to secure antimony supply beyond China’s borders is gathering pace, and Antimony Resources has positioned itself squarely in the fast lane. The Canadian explorer is now well into a 19,000-metre drill programme at its Bald Hill project in New Brunswick, backed by a cash balance that has swelled more than fourfold in six months.

A Thickening War Chest

The company’s treasury held 8.24 million Canadian dollars as of 28 February 2026, a sharp jump from the 1.75 million CAD reported in August 2025. The injection came from a November placement of roughly 21 million shares at 0.45 CAD apiece, which generated gross proceeds of 9.46 million CAD. Management has stated that this liquidity is sufficient to see the entire exploration campaign through to completion and to cover the preparation of technical documents for forthcoming permit applications.

With around 103 million shares now outstanding, the equity raise did dilute existing holders, but analysts at GBC AG have brushed aside concerns. The bank reiterated its “Buy” rating and a 12-month price target of 3.00 CAD, arguing that the value created by the upcoming milestones will more than offset the dilution.

Drilling in Full Swing

The drill rigs began turning in the second week of May. The programme is split into two tracks: 13,000 metres dedicated to expanding the known mineralised footprint in the main zone, and the remaining 6,000 metres earmarked for testing new target areas, including the Marcus and BH Central zones, where recent soil sampling returned promising anomalies. The campaign is expected to stretch through May 2026.

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

The data gathered will form the technical backbone for the construction permit application. Antimony Resources plans to submit that application between the end of 2026 and early 2027.

A Market Under Pressure

Antimony’s strategic importance has been underlined by a structural supply deficit that has persisted since 2022. The metal, used in flame retardants, lead-acid batteries, and increasingly in solar panel manufacturing, currently trades at around 51,800 US dollars per tonne — well above levels seen in early 2024. China, which still controls more than 80% of global output, temporarily suspended its export restrictions to the United States, but Western buyers remain anxious about over-reliance on a single source.

Demand from the solar industry alone has surged more than 300% over the past four years. That backdrop has spurred a wave of activity among junior miners: competitor Larvotto Resources has already reported first ore deliveries from its own project, and other developers are advancing antimony deposits in multiple jurisdictions.

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

Antimony Resources shares were last seen changing hands at 0.658 euros on the German exchange, leaving plenty of room to hit the analysts’ 3.00 CAD target if the Bald Hill drilling delivers the expected resource upgrade and the permitting timeline holds.

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