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September 10, 2025

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Locksley Resources LimitedAdvances Antimony Supply Strategy

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Perth, Australia (ABN Newswire) – Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is pleased to advise it has moved to secure additional beneficiated ore supply to complement development of its Desert Antimony Mine at Mojave, California. This initiative forms part of the Company’s broader mine to market strategy targeting supply for the U.S. defense and energy markets, while also strengthening the commercial pathway for its DeepSolv(TM) processing technology being developed with Rice University.

Highlights

– Locksley seeks to strengthen the commercial pathways for DeepSolv(TM) processing method, by entered into a Non-Binding Heads of Agreement with EV Resources Limited (EVR) to purchase EVR’s Antimony material via an Ore Sales Agreement

– Availability of 3rd party material is a key element for the development of DeepSolv(TM) and access to the USD $1bn+ domestic US Antimony market

– Expands and diversifies ore feedstock available for the processing development and downstream validation being conducted by Rice University on the DeepSolv(TM) product

– Enables Locksley to integrate both domestic ore from Mojave and additional North American supply into U.S. refining, accelerating the availability of critical materials

– Access to multiple ore supplies is complementary to the development of the Desert Antimony Mine at Mojave and advances Locksley’s strategy of providing domestic security of USA antimony supply necessary for defence security

– Will provide priority access to antimony samples from EV Resources’ Los Lirios operations for Rice University DeepSolv(TM) testwork, promoting a diversified and resilient North American supply chain

– Contingent on Locksley and EVR successfully negotiating a binding Antimony Ore Sales Agreement and subject to EVR shareholder approval, Locksley will make a strategic investment of A$0.75 million in EV Resources Limited (ASX:EVR)

Strategic Rationale: DeepSolv(TM) Processing Pathway

The securing of EVR beneficiated ore will underpin Locksley’s ability to accelerate deployment of DeepSolv(TM), a proprietary solvometallurgical process developed with Rice University, by ensuring additional steady and diverse feedstock supply. This strengthens the Company’s position to:

– Provide immediate beneficiated ore supply to complement Mojave ore and bridge U.S. requirements until domestic mining commences

– Validate the DeepSolv(TM) process across multiple ore types, ensuring resilience and efficiency in downstream refining

– Secure 3rd party material as a key element for establishing the scale of DeepSolv(TM) and access to the USD $1bn+ domestic US Antimony market

– Advance production of defense-grade and energy-grade antimony products for U.S. applications

– Demonstrate to U.S. Government stakeholders the practical delivery of non-Chinese feedstock through advanced U.S.-based processing

– Position Locksley as a leading partner in reshaping North American supply chains for critical minerals

Strategic Locksley Investment and Ore Sales Agreement

LKY and EVR have entered into a non-binding Heads of Agreement. Contingent upon LKY and EVR entering into a binding Ore Sales Agreement, and subject to EVR shareholder approval,

LKY will make a strategic investment of A$0.75 million. This agreement provides a framework for EVR to supply antimony concentrate from its Los Lirios operations to Locksley, with the following key points:

– Purpose: The Agreement sets out the non-binding commercial framework under which EVR and LKY will cooperate to establish a strategic relationship for material testwork and develop production and value creation.

– Testing and Validation: EVR will send representative samples of ore to Locksley’s refining facility to test and confirm ore properties and processing viability.

– Pathway to Binding Agreement: The parties will seek to enter into a binding Ore Sales Agreement which will set out the commercial framework for a long-term supply partnership, with an initial focus on offtake to support downstream processing studies.

– Mutual Strategic Benefit: The cooperation secures a potential long-term customer for EVR’s concentrate while reinforcing Locksley’s access to a secure supply of antimony for its proprietary refining technology.

Pat Burke, Chairman of Locksley Resources, commented:

‘This agreement potentially strengthens our mine-to-market strategy by complementing our Mojave development with additional concentrate supply from EVR. By securing nearshore feedstock alongside our fast-tracked mining plans in California, Locksley will be well positioned to accelerate the U.S. return to domestic antimony processing. With Rice University’s support and the deployment of our DeepSolv(TM) technology, our pathway demonstrates that Locksley is assembling the resources, partnerships, and technology to ensure secure, scalable, and independent antimony supply for the United States.’

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (OTCMKTS:LKYRF) (FRA:X5L) is an ASX-listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development of critical minerals for U.S.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 240 claims across two contiguous prospect areas, namely, the North Block-Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With surface samples grading up to 46% Sb as well as silver up to 1,022 g/t Ag, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Source:
Locksley Resources Limited

Contact:
Locksley Resources Limited
T: +61 8 9481 0389
E: info@locksleyresources.com.au

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

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Navigating Uncertainty: How to Manage Jurisdictional Risk for Mining Stocks

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In the high-stakes world of resource extraction, a nation’s mineral wealth is a powerful magnet for investment, fueling economic growth and national prosperity. But not all countries are created equal.

For investors in the mining sector it’s key to understand that jurisdictional risk can be profoundly impacted by political changes, as new administrations can swiftly alter the regulatory landscape. These policy shifts can present both opportunities and setbacks, introducing a complex layer of uncertainty to even the most promising ventures.

At the same time, regions traditionally seen as stable and secure for resource development can face their own challenges, including rigorous permitting regimes that can slow mine development activity.

Read on for three case studies on jurisdictional risk and how to navigate this type of complexity.

Case study: First Quantum’s Cobre Panama mine

Perhaps the most notable example in recent years of how politics can affect operations is the closure of First Quantum Minerals’ (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine in Panama.

As with many mining operations, Cobre Panama took decades to bring into production. First Quantum received approval to begin work at the site in February 1997; however, it would take 22 years and US$10 billion to build the mine and the required infrastructure before production commenced in September 2019.

When it was placed on care and maintenance in November 2023, the mine was one of the largest in the world, accounting for approximately 1 percent of total copper supply.

The closure came after Panama’s government faced intense public backlash for granting First Quantum a 20 year mining contract; it was quickly declared unconstitutional by the Supreme Court.

The Panamanian government also introduced an indefinite moratorium on all mining concessions. The move put the country’s mining sector in a state of limbo and led other companies to cease activities in Panama. For example, Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) decided to halt funding of its Cerro Quema project until it had “greater certainty with respect to the mining concessions, as well as fiscal and legal stability in Panama.”

Cobre Panama’s closure and the subsequent moratorium led Fitch to downgrade its investment outlook for Panama in March 2024, from BBB- to BB+. The credit agency cited fiscal governance challenges that arose following the mine’s closure, noting that Cobre Panama accounted for 5 percent of the nation’s GDP.

Although the International Monetary Fund expects Panama’s GDP to rebound to 4.5 percent in 2025 as non-mining sectors of the nation’s economy grow, the changes have already had a significant impact on the national economy, with GDP growth slowing to 2.9 percent in 2024, from 7.4 percent in 2023.

Case study: Barrick Mining’s Loulo-Gounkoto complex

Another recent example is the impact of unrest on Barrick Mining’s (TSX:ABX,NYSE:B) operations in Mali.

The African nation has experienced a prolonged period of instability, with the government being overthrown in three coup d’états within a 10 year span, in 2012, 2020 and 2021.

The most recent two came following months of turmoil after election irregularities and accusations of corruption in 2020, then calls for a more legitimate government to be installed in 2021.

Ultimately, the government was replaced by a military junta, and in 2022, it was announced that elections would be held in 2024. However, these were delayed until early 2025, at which time they were again postponed.

This past July, Malian military authorities granted current leadership a five year mandate, renewable as many times as necessary without requiring an election, which guarantees control of the government until 2030.

The impact on the mining sector has been notable. In 2022, the new government ordered an audit of the mining sector, which led to Mali adopting a new mining code in 2023 after limited industry consultation.

The code aims to generate more revenue for the government from mining operations by increasing government ownership to 35 percent from 20 percent and removing tax-exempt status for some operations.

Existing mining contracts were also reviewed, which limited the ability to renegotiate, leading to a protracted negotiation process between the Malian government and Barrick over its Loulo-Gounkoto complex.

While Barrick has said its commitment to Mali remains firm, going so far as to make a good-faith payment of US$83 million, the two parties were unable to reach an agreement. The stalled negotiations led the government to arrest or issue arrest warrants for key personnel over unpaid taxes and contract disputes, including Barrick CEO Mark Bristow.

With no resolution, Barrick was ultimately forced to shut down the mine in January of this year. Although arbitration proceedings continue, the operation was placed under provisional administration on June 16, and government helicopters were seen onsite removing more than 1 metric ton of gold on July 10.

According to the Extractive Industry Transparency Initiative, the mining sector makes a significant contribution to the nation’s economy, representing 79 percent of exports and 9.2 percent of GDP. Although other companies haven’t ceased operations in the country, the government’s action has created tensions for investors, with CEOs suggesting that the new rules make it economically unfeasible for new mines or takeovers in the country.

The Fraser Institute gave Mali a policy perception score of 14.94 in its 2024 Annual Survey of Mining Companies, a significant decrease from 2023, when it achieved 33.34, and a precipitous decline from 2020’s score of 78.18. In the overall ranking, Mali fell to 74 out of 82 countries included in the survey, down from 37 out of 77 in 2020.

The institute notes that companies say policy accounts for about 40 percent of their decision when choosing where to establish operations. The other 60 percent is based on the mineral potential. In this regard, Mali improved to 55.26 from 41.18 in 2023; however, it remains in the bottom half of all jurisdictions, ranking 40 out of 58.

The institute uses these scores to determine the overall investment attractiveness of jurisdictions. In 2024, Mali scored 39.13 and ranked 72 out of 82. Respondents to the survey suggested that the rejection of gold mining permits and the lack of transparency created uncertainty and deterred investment.

Even when investment is in the national interest, underlying issues can be hard to overcome.

Case study: The DRC

The Democratic Republic of the Congo (DRC) is endowed with a vast wealth of minerals, ranging from copper to cobalt and diamonds, but a lack of infrastructure and geopolitical instability have hindered investment.

However, the mining sector has seen steady growth in recent years as the government looks to attract investment. One project is the construction of the Lobito Corridor, Africa’s first open-access transcontinental rail link. It connects Zambia and the DRC with the port of Lobito in Angola, providing improved shipping opportunities for producers.

Among the operations that have signed on to use the rail link is Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula mine. The asset is one of the world’s largest copper mines, producing 964 million pounds in 2024.

In February 2024, the company signed a term sheet to access the corridor, allowing it to transport between 120,000 and 240,000 metric tons of copper concentrates per year for a five year term, commencing in 2025.

In a press release, Robert Friedland, Ivanhoe’s founder and executive co-chair, said the corridor is “fast becoming one of the most important trade routes for vital copper metal in the world.”

He added that the rail link will unlock projects due to the lower logistical costs.

While development in the DRC is moving in the right direction, it’s not without its problems. Tensions remain with neighboring Rwanda, as Rwanda has backed anti-government M23 rebels. The groups have been warring since 2022, with much of the violence occurring in the Eastern DRC, a mineral-rich area of the country.

In April 2024, M23 seized the town of Rubaya, the center of coltan production in the DRC; coltan is a critical mineral for the tech sector. While Ivanhoe’s mine has avoided the violent uprisings elsewhere in the country, it still highlights key security challenges for operations in the country and underscores the fragility of stability.

Like Mali, the DRC declined in the Fraser Institute’s survey last year.

It dropped to 12.97 on policy, down from 24.93 in 2023, ranking 77 out of 82. However, its mineral potential ranked much higher, scoring 73.53 — that’s up from 55 in 2023 and a rank of 14 out of 58.

On overall investment attractiveness, the DRC was middling, scoring 49.31 and ranking 58 out of 82. The report points to issues such as disputes over land tenure ownership, which have led to uncertainty and deterred investment.

Is there any truly safe mining jurisdiction?

The mining community has looked mainly to North America, Europe and Australia to minimize jurisdictional risk.

Canada, the US and Australia are widely considered safe places to invest in due to the stability of their governments and the absence of cross-border conflicts. Despite changes in government, political parties in these nations tend to support extractive industries through tax credits and investment programs.

As a whole, challenges in these jurisdictions tend to be more regulatory than geopolitical in nature, with strict environmental and social regulations adding years to development timelines.

Recently, however, there have been some moves to break down these barries.

The US and Canada have both made promises to streamline the permitting process to decrease timelines for critical minerals. Additionally, under the Biden administration, the US Department of Defense, increased funding for projects deemed critical to national interests, including those involving Canadian companies Fortune Minerals (TSX:FT,OTCQB:FTMDF) and Lomiko Metals (TSXV:LMR,OTC Pink:LMRMF).

The program has continued under US President Donald Trump, with the most recent award being announced on July 22, for US$6.2 million in funding for Guardian Metal Resources (LSE:GMET,OTCQX:GMTLF).

Although challenges in these regions still exist, in general they remain stable. For investors, it can help to de-risk portfolios and avoid the geopolitical tensions and uncertainty that arise elsewhere.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Questcorp Mining Provides Update on Its Maiden Drill Program at La Union

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Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to provide an update on the Phase I drilling program at its La Union Gold and Silver project in northwest Sonora, Mexico. Drill holes have now been completed at two of the 4 target areas:

  • The initial hole was completed beneath the historic Union Mine itself, intersecting the favourable carbonaceous Clemente and Caborca formations, including the microconglomeratic carbonate unit which hosted mineralization at the bottom of the past producing Union Mine.
  • Drilling then shifted focus to the El Cobre Mine area and the Union Norte Mine area, testing vertical feeder zones above the Clemente formation dolomites and carbonaceous sandstones. Hole two intersected more quartzites than interpreted from the geophysics, with the quartzites carrying more extensive hematitic oxides, possibly indicative of oxide gold mineralization potentially related to sulfides which have been oxidized through supergene weathering.

Saf Dhillon, President and Chief Executive Officer, states: ‘The drilling is indicating oxidation is consistent with past mining and targets are coming along with a positive exploration drilling so far. The drilling is intersecting more quartzite than expected which is favorable for fracture-controlled mineralization. The Riverside operations team is progressing the current exploration program working with the surface rancher and the drilling company to efficiently progress a high-quality exploration program.’

Drilling has now moved to the Famosa Target to progress exploration program. The Mexico Mining Ministry has approved many permits and are actively supporting the environmentally, socially conscious mineral exploration practices as a key aspect for the new Mexican government initiatives.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry’, P.Geo (BC) a Director of the Company and a Qualified Person under National Instrument 43-101.

About Questcorp Mining Inc.

Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property, on Vancouver Island, B.C., subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

Questcorp Mining Inc.
saf@questcorpmining.ca
Tel. (604-484-3031)

Suite 550, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6.

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding completion of survey work at the North Island Copper project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265741

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This post appeared first on investingnews.com

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