Bindi Metals progresses its Lisa Project application with Serbia’s Ministry while identifying promising gold and antimony drill targets, maintaining a solid cash position of $1.734 million.
- Lisa Project application advancing with Serbian Ministry of Mining and Energy
- High-grade gold and antimony targets identified for drilling upon license grant
- Historic mining yielded up to 20% antimony grades and notable gold-silver mineralisation
- Cash balance steady at $1.734 million as of 31 March 2025
- Exploration expenditure of $56k with no production activities during the quarter
Steady Progress on Lisa Project Licensing
Bindi Metals Limited (ASX:BIM) has reported ongoing progress in securing the Lisa Project licence in Serbia, with its legal team actively engaging the Ministry of Mining and Energy. This regulatory milestone is critical for unlocking the potential of the project, which is strategically positioned within the Tethyan Magmatic Belt, a region known for significant gold and base metal deposits.
The company’s methodical approach to navigating statutory requirements reflects a disciplined strategy to advance exploration in a jurisdiction that offers promising geological prospects.
Exploration Data Highlights High-Grade Targets
Concurrent with the licence application, Bindi Metals has been rigorously reviewing historical and public exploration data. This has revealed several high-grade gold and antimony target zones, with mineralisation widths between 4 and 10 metres. Historical mining activity in the area produced ore with antimony grades ranging from 5% to as high as 20%, alongside gold grades up to 2.5 g/t and silver up to 87 g/t.
These findings underpin the company’s readiness to initiate fieldwork and drilling programs as soon as the licence is granted, positioning Bindi to rapidly advance the project towards resource definition.
Broader Portfolio and Financial Position
Beyond Serbia, Bindi Metals continues to evaluate complementary exploration opportunities, with a focus on precious metals. The Australian Biloela Copper-Gold Project remains under desktop study and targeting review, while Canadian tenements in Ontario are also part of the company’s diversified portfolio.
Financially, Bindi Metals maintains a healthy cash balance of $1.734 million as at 31 March 2025, supporting ongoing exploration activities. The company reported exploration expenditure of $56,000 for the quarter and no mining production or development activities, consistent with its exploration stage status.
Additionally, the issuance of 10 million unlisted options to Joint Lead Managers as part of placement compensation reflects prudent capital management and shareholder-approved corporate governance.
Outlook and Strategic Implications
With the Lisa Project licence application advancing and high-grade targets identified, Bindi Metals is poised for a potentially transformative phase. The company’s focus on critical minerals such as antimony and gold aligns well with global demand trends driven by energy transition and technology sectors.
However, the timeline for licence grant remains uncertain, and the transition of Serbian tenements to Bindi is ongoing. Investors will be watching closely for regulatory updates and the commencement of field programs that could validate the promising exploration data.
Bottom Line?
Bindi Metals stands at a pivotal juncture, with regulatory progress and high-grade targets setting the stage for its next exploration chapter.
Questions in the middle?
- When can investors expect the formal grant of the Lisa Project licence?
- What are the planned timelines and budgets for initial drilling campaigns at Lisa?
- How will Bindi Metals prioritize and fund exploration across its diversified portfolio?