Bald Hill Permitting Takes Centre Stage as Antimony Resources’ Stock Sheds Recent Gains

Shares fall 7.84% to €0.43 as market shrugs off minister's visit. Down 21% in 30 days but up 561% YoY. Company shifts focus to permitting for antimony project.

Antimony Resources saw its shares fall another 7.84% on Friday to close at €0.43, as the market shrugged off the company’s latest political milestone at the Bald Hill antimony project in New Brunswick. The stock has now dropped 21.20% over the past 30 days, though it still sits 33.27% higher year-to-date and an eye-watering 561.09% above its level twelve months ago.

That spectacular run-up explains the current fragility. After such a surge, investors are demanding more than political photo-ops. The company delivered one on 4 June, when New Brunswick’s Minister of Natural Resources, John Herron, toured the Bald Hill property. The delegation inspected drill areas in the Marcus and Main zones and visited the core processing facility in Penobsquis.

The visit underscores a strategic shift at Antimony Resources. The focus at Bald Hill is moving away from individual drill results and toward the permitting and environmental studies needed to turn a high-grade discovery into a mine. The company already set that process in motion on 6 April, when it engaged GEMTEC Consulting Engineers and Scientists to map out the regulatory landscape.

GEMTEC’s mandate is to identify the relevant laws, authorities, requirements and timelines, including whether the project will require a provincial or federal environmental assessment. The company aims to submit its formal permit application between the fourth quarter of 2026 and the first quarter of 2027.

Until then, Antimony Resources must translate political goodwill into hard documentation. The minister’s visit signals that Bald Hill is gaining traction in provincial resource policy, but without a completed environmental baseline and a robust project plan, that attention remains just a door-opener.

Bald Hill is a high-grade antimony deposit located in southern New Brunswick. Previous drilling in the Main Zone has traced mineralisation over at least 600 metres of strike and to depths of 350 metres, with the system open in all directions. The mineralised zones average between 4 and 5 metres in thickness and typically grade 3% to 4% antimony.

A technical report from 2025 estimated a conceptual exploration target of roughly 2.7 million tonnes. That figure is not a defined mineral resource — more exploration and reliable modelling are required to upgrade it. The company is now working on that, with a 13,000-metre drilling programme planned for the Main Zone, 6,000 metres of first-pass exploration drilling, and more than 1,500 soil samples. Metallurgical testing and technical and environmental baseline studies are also under way.

Antimony is a critical mineral used in flame retardants, batteries, specialty glass, photovoltaics and military applications. Global production is heavily concentrated in China, Russia and Tajikistan, and China’s export controls have intensified interest in Western projects like Bald Hill. That strategic backdrop gives Antimony Resources a strong narrative, but the market is clearly waiting for tangible data.

The next catalysts are expected to come from two directions: new assay results from the ongoing drilling campaign and concrete progress on the permitting front. Until one or both deliver, the stock is likely to remain volatile, caught between long-term promise and short-term impatience.