Trigg investors ante up into Australian antimony

Trigg Minerals is making a $5m placement to advance on Australian antimony
Several new strategic investors added to the register
Company holds Australia’s highest grade undeveloped resource

Special Report: Trigg Minerals has got the $5m investor backing to advance exploration across its Australian antimony assets as prices continue skyward.

With New South Wales antimony projects at Achilles, Taylors Arm and Spartan, Trigg Minerals (ASX:TMG) had already pushed its chips towards the military-critical mineral – a pot now increased in the wake of further Chinese restrictions.

With plans laid to restate the mineral resource at Achilles, Trigg is confident in its exploration upside, and strategic investors and global funds seemed to agree with the bullish sentiment to the tune of a well-supported $5m in Trigg’s direction.

Done at the price of 3.3c a share, proceeds will underpin advancement of the projects with antimony now trading around US$38,000 – a price tag over 233% higher than this time last year.

Trigg said it was particularly pleased to add several key strategic investors to the register to support its growth and development.

“We are thrilled with the overwhelming response from both strategic investors and global funds, which reinforces the market’s confidence in our business strategy,” Trigg executive chairman Tim Morrison said.

“This capital injection gives us a strong financial platform to continue delivering on our plans and creating shareholder value.

“We look forward to capitalising on this momentum as we advance our projects.”

Achilles antimony

While proceeds will be used to advance the trio, Achilles and the existing JORC 2012-compliant 610,000t at 2.56% antimony estimate stands as an obvious focus.

The project has produced antimony during several periods of operation since its discovery in the waning days of the 19^th century with grades going as high as 46%.

Now-delisted Anchor Resources was the last to work on Achilles, running 23 drill holes and two resource estimation studies among other studies and surveys during its stewardship.

But with cheaper product available from Chinese suppliers alongside a smattering of gold byproduct from Australia’s Costerfield mine, there was little incentive to take a focused asset through to development.

Anchor might have been onto something in the end, but the promise of western production of the new market darling mineral will be somebody else’s’ prize to claim.

Blue Ocean Equities analyst Carlos Crowley Vazquez told Stockhead that anecdotal evidence has traders chasing every available tonne from smaller operators that can deliver, and that Australia stands to benefit from its close US ties and geological endowment.

And while Trigg is hardly alone in the antimony chase, East Coast Research at least believes the company has a real crack at becoming a key player.

This article was developed in collaboration with Trigg Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.