Breakthrough Minerals’ Bold Antimony Bet Risks Capital Amid Market Uncertainty

• Successful $850,000 capital raising to fund exploration and corporate growth
• Application for a 244.9 km² antimony exploration license in Murchison, WA
• Appointment of two new directors with strong finance and geological expertise
• Ongoing lithium and gold exploration at Maggie Hays Hill Project, WA
• Strategic rebranding to Breakthrough Minerals reflecting critical minerals focus

Corporate Rebranding and Capital Boost

In a decisive move to sharpen its focus on critical minerals, Intra Energy Corporation has rebranded as Breakthrough Minerals Ltd (ASX: BTM). This change, effective December 17, 2024, signals a renewed strategic direction aligned with the growing demand for minerals essential to the energy transition.

Complementing this rebranding, Breakthrough Minerals successfully completed a placement raising $850,000. The funds are earmarked for advancing exploration activities, particularly at the Maggie Hays Hill lithium and gold project, and for corporate initiatives. Notably, company directors demonstrated confidence by committing $129,000 to the raise, underscoring internal belief in the company's growth prospects.

Strategic Antimony Tenement Acquisition in Murchison

One of the quarter’s headline developments is Breakthrough Minerals’ application for a substantial 244.9 km² exploration license (E09/2990) in the Murchison region of Western Australia. This tenement targets antimony mineralisation, a metal that saw a remarkable 200% price surge in 2024, largely driven by Chinese export restrictions.

The new tenement lies along strike from Octava Minerals’ Yallalong Antimony Project, which has demonstrated high-grade antimony mineralisation, including rock chip samples up to 60.1% Sb and drill intersections of 6.83% Sb over 3 meters. This proximity and geological similarity position Breakthrough Minerals to potentially tap into a highly strategic and lucrative resource.

Exploration Progress and Project Portfolio

At the Maggie Hays Hill Project in Western Australia, where Breakthrough holds an 80% interest, the company is preparing for advanced exploration activities in 2025. Previous reconnaissance drilling has identified lithium targets, alongside gold mineralisation potential, reinforcing the project’s significance within the company’s portfolio.

Meanwhile, the Llama Lithium Project in Quebec, Canada, remains on hold for on-ground activities this quarter. However, Breakthrough continues strategic planning, optimistic about the project’s prospects once lithium market conditions improve.

Conversely, the company has relinquished its rights to the Yalgarra Ni-Cu-PGE Project in Western Australia, transferring them to Century Minerals for nil consideration, reflecting a strategic focus on higher-priority assets.

Leadership Enhancements

To bolster its corporate governance and technical expertise, Breakthrough Minerals appointed two new directors during the quarter. Executive Director Peretz Schapiro brings extensive corporate finance and project generation experience, while Non-Executive Director William Dix contributes nearly three decades of geological and management expertise. These appointments replace former directors Benjamin Dunn and Alan Fraser, signaling a refreshed leadership team aligned with the company’s strategic ambitions.

Subsequent to the quarter, Breakthrough Minerals further raised $500,000 through a well-supported placement, with directors again participating, reinforcing market confidence in the company’s trajectory.

Bottom Line?

Breakthrough Minerals’ strategic moves position it well to capitalise on soaring antimony prices and critical minerals demand, but upcoming exploration results will be key to validating this potential.

Questions in the middle?

• When will Breakthrough Minerals receive approval for the Murchison antimony tenement and commence on-ground exploration?
• How will the new directors influence Breakthrough’s exploration strategy and capital allocation?
• What are the company’s plans to advance the Maggie Hays Hill lithium and gold project amid fluctuating lithium market conditions?