EV Resources (ASX: EVR) secures 70% stake in Los Lirios Antimony Mine

EV Resources Limited (ASX: EVR), the Australia-based exploration and development company focused on critical minerals, has finalized its acquisition of a 70% interest in the Los Lirios Antimony Mine in Oaxaca, Mexico. The transaction marks a pivotal move in the company’s strategy to secure early-stage access to antimony supply in the Western Hemisphere, aligning with U.S. and allied critical minerals frameworks.

The joint venture—structured through a newly formed Mexican subsidiary and a dedicated legal entity—positions EV Resources Limited to develop one of the few known antimony prospects with existing historical production and no current processing infrastructure. The share price of EV Resources Limited rose 16.67% on June 12, 2025, closing at AUD 0.007 with over 1 million shares traded, signaling renewed investor interest in the small-cap basic materials developer.

Why is the Los Lirios Antimony Mine acquisition significant?

The Los Lirios Antimony Mine consists of three mining concessions totaling approximately 1,552 hectares in southern Mexico. The site includes three historic open pit and several underground workings, which previously yielded direct shipping ore (DSO) without the need for local processing. The concessions, legally referred to as El Lirio de los Valles Fracción 1 and Fracción 2, are located in a geologically favorable belt known to contain antimony-rich mineralization.

EV Resources Limited executed a binding Promissory Agreement for the Assignment of Mining Rights with the original titleholders, enabling its Mexican subsidiary S9bcorp, S.A. de C.V., to establish a new joint venture entity named Exploraciones Mineras Los Lirios, S.A. de C.V. This entity will hold 100% of the mining rights, with 70% controlled by EV Resources Limited and 30% by the original concession owners.

The terms of the joint venture obligate S9bcorp to manage operations and provide capital until the mine achieves a daily production threshold of 300 tonnes of ore. In return, EV Resources Limited gains legal and operational control, including a power of attorney over all three licences and responsibility for paying associated fees.

What role does antimony play in global critical minerals strategy?

Antimony has become a focus of Western resource strategies due to its role in military-grade alloys, semiconductors, batteries, and flame retardants. It is designated as a “critical mineral” by the United States, the European Union, and Australia—primarily due to limited global supply and high import dependency from countries like China and Russia.

The acquisition of Los Lirios adds a Western-aligned source of antimony to the global supply chain. Given the absence of a processing facility, EV Resources Limited aims to fill this gap with modular gravity-based technology optimized for the ore type commonly found in Mexican antimony deposits.

The miner’s focus on critical materials reflects a broader pivot among ASX-listed junior explorers, many of which are repositioning their portfolios to align with long-term electrification, defense, and decarbonization policies across the OECD.

What are the next development milestones for EV Resources Limited in Mexico?

EV Resources Limited has initiated ore characterization and mineralogical analysis on several 30-kilogram samples collected from Los Lirios in recent weeks. The results, expected imminently, will inform recovery test work using gravity separation techniques.

Parallel to technical analysis, EV Resources Limited is in negotiations with local stakeholders who control permitted processing plant sites in Oaxaca. The goal is to establish a pilot facility with low environmental impact, which could eventually scale up if test results confirm economically recoverable grades and volumes.

In a statement authorized by the board, EV Resources Limited noted that the development strategy would prioritize community engagement and alignment with regional development goals. The use of gravity-based methods—considered more sustainable than chemical alternatives—is expected to help streamline regulatory compliance while supporting local employment.

How are investors reacting to the EVR antimony strategy?

EV Resources Limited closed at AUD 0.007 on June 12, 2025, after rising 16.67% intraday. The firm’s market capitalisation now stands at approximately AUD 13.9 million, based on an issued share count of 1.99 billion. Its 52-week trading range is between AUD 0.002 and AUD 0.008, and it has delivered a 27.27% return over the past year.

Despite ranking 1,649 out of 2,322 on the ASX overall and 607 out of 1,051 in the Basic Materials sector, the stock has garnered increased attention from speculative investors and critical minerals watchers. While EV Resources Limited does not currently report a price-to-earnings ratio or dividend yield, its pivot toward high-demand critical inputs gives it exposure to structural tailwinds.

Market sentiment around junior critical mineral developers has remained buoyant, especially following policy signals from the Biden administration and allied governments that emphasize reshoring of key material supply chains.

Why institutional investors are tracking EV Resources Limited’s Mexican antimony play

Resource analysts have noted that the move into Mexican antimony fits within a broader institutional preference for diversified asset exposure outside high-risk geopolitical zones. The proximity of Los Lirios to permitted infrastructure, combined with past DSO-grade output, increases the asset’s attractiveness for phased development without immediate capex-intensive buildouts.

While no specific commentary from major funds or analysts was cited in the release, observers in the Perth and Sydney resource investment community have pointed to EV Resources Limited’s cumulative strategy across Peru, the United States, and now Mexico as a possible catalyst for future offtake discussions or funding partnerships.

From a jurisdictional risk standpoint, Mexico has remained open to foreign mining investment, provided operators engage transparently with local communities and remain compliant with federal and state permitting regulations.

What’s next for EV Resources Limited after the Los Lirios milestone

Looking forward, analysts expect EV Resources Limited to accelerate its feasibility studies and potentially announce preliminary resource estimates for Los Lirios if test work results validate scalable gravity recovery. The company is also expected to explore funding opportunities via strategic partners or small-cap fund placements to support its pilot plant ambitions.

Beyond Mexico, EV Resources Limited continues to develop its copper and base metals projects in Peru and the United States. The combined portfolio positions the company to benefit from global policy shifts prioritizing secure and ethical sources of critical minerals.

Further developments at Los Lirios, including community engagement outcomes, environmental impact assessments, and early-stage production trials, are likely to define EV Resources Limited’s trajectory for the remainder of 2025.