EV Resources puts two antimony feedstocks into Tecomatlán commissioning
EV Resources has completed its A$1.52 million rights issue as crushing and screening gets underway at the Tecomatlán antimony plant in Mexico. The company now has Vinatas ore and a 200-tonne Chinantla stockpile available for a production-capable proof-of-concept campaign, although first concentrate and binding offtake agreements remain ahead.
- A$1.52 million raised before costs, with shortfall shares and options issued
- Vinatas ore secured alongside a 200-tonne Chinantla stockpile
- Crushing and screening underway at Tecomatlán
- Previously reported testwork delivered recoveries of up to 78.6% and 81.1%
- Prospective buyer and offtake discussions remain ongoing
A$1.52 Million Funds Tecomatlán Commissioning
EV Resources Limited (ASX:EVR) has completed a A$1.52 million rights issue, giving the company funding to move its Tecomatlán antimony processing plant into the next stage: a production-capable proof-of-concept campaign and staged circuit commissioning.
All shortfall shares and options have now been issued. The money is earmarked for plant commissioning, feedstock and supply arrangements, and working capital. EVR’s securities are trading on a deferred settlement basis while the capital structure is consolidated on a 10-for-1 basis approved by shareholders on 2 September.
Crushing Starts With Two Feedstock Sources
The operational update is more tangible than a commissioning promise alone. EVR says first-load testing of the crushing circuit has been completed with antimony ore, and crushing and screening are now underway at Tecomatlán.
The company has also secured Vinatas ore as an additional feedstock source, complementing the 200 tonnes of high-grade ore stockpiled at nearby Chinantla. Earlier metallurgical work reported by EVR produced recoveries of up to 78.6% from Vinatas material and about 81.1% from Chinantla material, with both campaigns using conventional flowsheets compatible with the Tecomatlán circuit. The company stresses that those results were previously reported and that this announcement contains no new metallurgical or exploration results.
First Concentrate And Offtake Still Ahead
EVR says it is in several positive discussions with prospective buyers and offtakers for high-grade antimony concentrate. Those conversations matter because the proposed transition from developer to producer requires more than feedstock and a functioning circuit: it also requires concentrate that can be produced consistently and sold on acceptable terms.
First concentrate has not yet been reported, nor has the company announced a binding offtake agreement, revenue or an economic feasibility outcome. The immediate test is therefore whether staged commissioning can convert the secured ore and encouraging laboratory-scale metallurgy into a marketable product at plant scale. EVR itself cautions that production plans remain forward-looking and subject to technical, commercial, financing and approval risks.
Bottom Line?
The raise removes an immediate funding hurdle, but EVR’s next value-defining step is not another plan: it is evidence of repeatable plant-scale concentrate production and a binding buyer.
Questions in the middle?
- When will Tecomatlán produce its first concentrate, and what grade and recovery will it achieve?
- Will discussions with prospective buyers develop into binding offtake or supply agreements?
- How much of the A$1.52 million will remain after commissioning, feedstock and working-capital costs?
