EV Resources Raises $1.52M for Antimony Production Push

EV Resources launched a $1.52 million rights issue to fund its dual-track antimony strategy in Mexico, covering the Tecomatlán processing plant and the Los Lirios project.

The non-renounceable offering gives eligible investors one new share at $0.005 for every 10 held, with a free attaching option exercisable at $0.0075 and expiring in August 2030. The first $1 million of the raise is underwritten by Indian Ocean Securities, a boutique firm where EV director Luke Martino is a director and shareholder. The company said the underwriting provides funding certainty as it moves toward near-term antimony production.

Proceeds will strengthen the balance sheet as EV advances staged circuit commissioning at Tecomatlán and a proof-of-concept at Los Lirios. A portion will also secure an initial 200 tonnes of stockpiled high-grade ore from the third-party Chinantla antimony mine and fund new offtake and supply agreements.