Antimony Prices Just Hit $46,075 – Military Metals (MILI.CSE / MILIF) Is the ONLY European Antimony Developer and It's Criminally Undervalued
Fellow resource chads, miners, and anyone tired of chasing Chinese supply chains,
Antimony prices are on absolute fire right now. Today (Apr 12) it hit $46,075 per tonne – the highest in the past 30 days. That's a clean ~38% rip higher from the March 13 low around $33k, with a steady, low-pullback grind the entire way up. Just look at the 30-day chart: beautiful upward channel, minimal dips, and a nice breakout feel as we head into spring.
What's driving the surge? Simple supply/demand imbalance on steroids:
- China (which controls ~85% of global processing) has slammed on export restrictions, especially on dual-use materials.
- Exploding demand from solar/tech (sodium antimonide in PV panels), flame retardants, semiconductors, and massive military applications (ammunition hardening, night vision, etc.).
Western governments are now in full scramble mode for secure, non-Chinese antimony supply. This is a critical mineral moment.
And right in the middle of it sits Military Metals Corp (MILI) – the only meaningful antimony developer in all of Europe.
Their flagship Trojárova (Trojarova) project in Slovakia just dropped a maiden Inferred Resource (announced April 8) that screams "multi-bagger potential":
- 6.5 million tonnes at 1.02% Sb + 1.06 g/t Au
- Containing 67,000 tonnes of contained antimony and 222,000 ounces of gold
- Largest modern (NI 43-101) antimony resource in the entire EU
Why this is ridiculously bullish (Scott's own words in the update):
- Massive historical dataset: 63 drill holes already done before they even showed up. They only needed 7 additional holes to validate and publish the resource. That alone tells you how continuous and high-confidence the mineralization is.
- The system is wide open along strike and at depth — every indication points to significant growth in both size and grade.
- Gold by-product is a game-changer. Based on current data, the gold credits could offset the majority (if not all) of operating costs once in production. This turns Trojarova into a potential low-cost, high-margin beast.
- Existing underground infrastructure (1.7 km adit + drives from the 1990s) makes it "plug-and-play" with minimal capex and a super-short timeline to production.
- 100% owned and now royalty-free.
Valuation? It's actually embarrassing how cheap this is compared to peers:
| Company | Jurisdiction | Tonnes Sb | Grade (Sb) | Market Cap | $/tonne Sb |
|---|---|---|---|---|---|
| Military Metals | Europe | 67,000 | 1.02% | $40M | $597 |
| Larvotto Resources | Australia | 96,000 | 1.10% | $627M | $6,531 |
| Perpetua Resources | USA | 67,000 | 0.06% | $5B | $74,627 |
Military Metals is trading at a fraction of what the Aussie and US peers are getting for similar (or worse) assets. Europe gets the strategic premium + CRMA funding tailwinds, and they have the best infrastructure and by-product credits.
This isn't hype — it's the perfect storm: antimony at all-time recent highs, Europe desperate for domestic supply, a de-risked resource with gold paying the bills, and a market cap that still looks like a junior explorer from 2023.
Position accordingly, friends. MILI is the only pure-play European antimony ticket in the entire sector, and the wind is at its back like never before.
This could easily be a 5-10x as prices keep climbing and they derisk further toward production.
DYOR, NFA, but damn… this one feels special. LFG.