Antimony Resources Stock Gains as Analyst Eyes 100% Upside Amid Project Acceleration

GBC AG initiates coverage on Antimony Resources with a C$3.00 target, citing geopolitics and progress at its Bald Hill project. The critical mineral's price remains strong as the company nears a key resource estimate.

A fresh buy rating from GBC AG has spotlighted Antimony Resources, with analysts setting a fair value target of C$3.00 per share. This implies a near 100% upside from the stock's last close at C$1.53, reinforcing a share price that has already surged over 466% against the Canadian benchmark index in the past six months.

The investment case is tightly linked to geopolitics. Antimony, a metal critical for flame retardants, batteries, semiconductors, and military technology, is currently dominated by China and Russia. With China refining roughly 70% of the global supply, Western nations are aggressively seeking secure sources. The strategic designation of antimony as a critical mineral by both the US and the EU positions projects in stable jurisdictions like Canada as vital alternatives.

Antimony Resources' primary asset, the Bald Hill project in New Brunswick, is advancing on two parallel tracks. The company is nearing a major operational milestone with its first NI 43-101-compliant mineral resource estimate (MRE), expected by late April or early May. Specialists from SRK Consultants are finalizing the report, incorporating data from an ongoing 10,000-meter drill program. Recent discoveries, including the Marcus West zone where trenching has extended mineralization over 80 meters, could add further potential. Three drill rigs remain active to feed data into this crucial estimate.

Simultaneously, the formal permitting phase has commenced. On April 6, 2026, Antimony Resources initiated technical and environmental studies, marking a shift from pure exploration to development preparation. The consultancy GEMTEC Consulting Engineers and Scientists has been hired to develop a structured roadmap through the regulatory process. While desktop studies are wrapping up, field-based environmental baseline studies are slated to begin in spring 2026. The company is already engaged in consultations with provincial, federal, and municipal authorities, including the Department of Indigenous Affairs.

A key near-term decision involves determining whether a provincial environmental assessment will suffice or if a more extensive federal process is required—a choice with significant implications for the project's timeline. The Bald Hill deposit itself spans approximately 700 meters in length and 350 meters in depth, with geological data indicating an antimony content between 3% and 4% within an estimated 2.7 million tonnes of material.

Market conditions provide a favorable backdrop. Although the antimony price has corrected from its summer 2025 peak, it remains robust at US$51.80 per kilogram, still 171% above levels seen at the start of 2024. China's export controls continue to constrain supply. This aligns with recent Western policy moves, including a joint US-Australian investment boost into resource projects exceeding A$5 billion (approximately US$3.5 billion) announced on April 12, 2026.

For investors, the immediate focus is on the final drill results expected ahead of the MRE publication. The convergence of the inaugural resource estimate and the activated permitting engine signals Antimony Resources' concrete transition from an explorer to a project developer.