Antimony Resources Keeps GBC Buy Call Intact as Bald Hill Assays and a C$3 Million Raise Move in Tandem

Antimony Resources is drawing fresh attention on two fronts at once. GBC AG reiterated its buy recommendation on the explorer in a research note published Friday, holding a price target of 2.52 CAD, while the stock added 3.4% to trade at EUR 0.1970. No standalone catalyst was cited for the intraday move; instead, the market has been digesting a run of operational and financial disclosures released over the preceding days.

The most recent session before that brought a sharper advance, with the shares closing at EUR 0.2050 for a gain of 7.6%. Behind both moves sits a company working simultaneously on the drill pad and on its balance sheet, and the market capitalisation now stands at EUR 26.56 million.

High Grades at Bald Hill Main

At the centre of the operational story is hole BHW-26-19 on the Main Zone at Bald Hill, which intersected massive stibnite mineralisation. Assays returned up to 21.45% antimony within a mineralised envelope averaging 4.36% antimony across 13.0 metres. The near-surface intercepts, according to the company, extend the higher-grade mineralisation southward toward the Central Zone — a step that speaks to the continuity of the geological structures and, potentially, to the groundwork for future resource estimates.

A Two-Part Financing Effort

Alongside the drilling, Antimony Resources has been shoring up its cash position. A non-brokered private placement is planned for up to C$3,000,000, structured as a maximum of 10,000,000 units priced at C$0.30 apiece. Each unit pairs one common share with half a warrant, exercisable for two years at C$0.50 per share. The order book has closed, though no confirmation of the total capital actually raised has been disclosed; the transaction is targeted for completion around 21 October 2026.

That placement follows an earlier flow-through financing that has already closed, generating gross proceeds of roughly C$5,000,000 from the issuance of new shares at C$0.47. Those funds are earmarked chiefly for exploration and development work at Bald Hill.

For investors, the question now is how efficiently management converts the fresh capital into demonstrated value in the ground — and whether the southern extension at Bald Hill continues to deliver grades that justify GBC's 2.52 CAD target.