Apr. 13 at 7:17 AM
$MILIF $MP $UAMY $PPTA $USAS
Fellow resource chads, miners, and anyone tired of chasing Chinese supply chains,
Antimony prices are on absolute fire right now. Today (Apr 12) it hit
$46,075 per tonne – the highest in the past 30 days. That's a clean ~38% rip higher from the March 13 low around
$33K, with a steady, low-pullback grind the entire way up. Just look at the 30-day chart: beautiful upward channel, minimal dips, and a nice breakout feel as we head into spring.
What's driving the surge? Simple supply/demand imbalance on steroids:
China (which controls ~85% of global processing) has slammed on export restrictions, especially on dual-use materials.
Exploding demand from solar/tech (sodium antimonide in PV panels), flame retardants, semiconductors, and massive military applications (ammunition hardening, night vision, etc.).
Western governments are now in full scramble mode for secure, non-Chinese antimony supply. This is a critical mineral moment.
And right in the middle of it sits Military Metals Corp (MILI) – the only meaningful antimony developer in all of Europe.
Their flagship Trojárova (Trojarova) project in Slovakia just dropped a maiden Inferred Resource (announced April 8) that screams "multi-bagger potential":
6.5 million tonnes at 1.02% Sb + 1.06 g/t Au
Containing 67,000 tonnes of contained antimony and 222,000 ounces of gold
Largest modern (NI 43-101) antimony resource in the entire EU
Why this is ridiculously bullish (Scott's own words in the update):
Massive historical dataset: 63 drill holes already done before they even showed up. They only needed 7 additional holes to validate and publish the resource. That alone tells you how continuous and high-confidence the mineralization is.
The system is wide open along strike and at depth — every indication points to significant growth in both size and grade.
Gold by-product is a game-changer. Based on current data, the gold credits could offset the majority (if not all) of operating costs once in production. This turns Trojarova into a potential low-cost, high-margin beast.
Existing underground infrastructure (1.7 km adit + drives from the 1990s) makes it "plug-and-play" with minimal capex and a super-short timeline to production.
100% owned and now royalty-free.
Valuation? It's actually embarrassing how cheap this is compared to peers:
Company Jurisdiction Tonnes Sb Grade (Sb) Market Cap $/tonne Sb
Military Metals Europe 67,000 1.02%
$40M $597
Larvotto Resources Australia 96,000 1.10%
$627M $6,531
Perpetua Resources USA 67,000 0.06%
$5B $74,627
Military Metals is trading at a fraction of what the Aussie and US peers are getting for similar (or worse) assets. Europe gets the strategic premium + CRMA funding tailwinds, and they have the best infrastructure and by-product credits.
This isn't hype — it's the perfect storm: antimony at all-time recent highs, Europe desperate for domestic supply, a de-risked resource with gold paying the bills, and a market cap that still looks like a junior explorer from 2023.
Position accordingly, friends. MILI is the only pure-play European antimony ticket in the entire sector, and the wind is at its back like never before.
This could easily be a 5-10x as prices keep climbing and they derisk further toward production.
DYOR, NFA, but damn… this one feels special. LFG.
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