LKY adds Lockheed Martin exec to its advisory board

Our US critical minerals Investment Locksley Resources (ASX: LKY) has just appointed a Lockheed Martin strategy and risk manager (Stacy Newstead) to its advisory board.

Stacy is currently responsible for US supply chain risk mitigation at $165BN Lockheed Martin - one of the largest defence contractors on the planet.

Her role focuses on securing domestic and allied sources of critical materials for advanced weapons, aerospace systems, munitions, and battery technologies.

Which means Stacy has experience in the supply chains LKY is trying to supply critical minerals into:

• US Department of Defense acquisition pathways
• domestic sourcing priorities for critical minerals
• supply chain risk and geopolitical exposure
• federal and state-level funding mechanisms
• manufacturing and system production requirements
• onshoring of key battery and defence materials

Today’s appointments comes 6 weeks after LKY appointed a former US Airforce Major General.

That was former Major General (Ret.) Peter J. Lambert who is bringing over 30 years experience in US intelligence, defence, and advanced technology integration, we covered that here.

Also today LKY confirmed it has submitted a US Government White Paper funding request under the Defense Production Act Title III (DPA III), this is a key mechanism used to finance onshore critical mineral supply chains for national security.

We have seen potential funding avenues including the recently announced US$355M in funding from the Department Of Energy (and the US$1BN that was set aside a few months ago).

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LKY offering a US made antimony solution…

To us it looks like LKY is trying to do one thing right now.

Get US made, US processed antimony to market as quickly as possible.

LKY’s project is on the border of California and Nevada.

Nevada is where the US is planning to build a critical minerals stockpiling facility.

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LKY holds the ground where the old Desert Antimony Mine (DAM) which sits beside the now $15BN capped MP Materials and currently has several work programs underway:

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In addition to this, just under 8 weeks ago LKY showed it can produce a high grade antimony concentrate from the DAM.

It produced a 68.1% antimony concentrate from a simple flotation circuit, which was near the theoretical maximum of 71.68% for concentrate from the stibnite mineral.

LKY is also working on further processing/refining in partnership with Rice University.

Hopefully today’s appointment helps get all of the work LKY has been doing in front of the right people (which is basically anyone looking to buy US made antimony).

We note the Pentagon only recently said it is preparing to go on a US$1BN buying spree of critical minerals:

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What’s next for LKY?

Drilling (this quarter) 🔄

LKY expects drilling to start in late Q4 (December) this year. (Source)

With the antimony drill program, LKY plans to test for the extent of mineralisation near and extending out from the historical antimony mine, testing along the recently seen antimony workings from the LiDAR program results showing the existing adits.

(Source)

With the rare earths drill program, LKY plans to test areas where a number of high grade rock chip samples were found, grading 1.20% to 6.87% TREO (rare earths).

Here is where LKY’s initial drilling program is scheduled from a broader view released earlier in the year (antimony in top section, rare earths in the lower):

(Source)

We are especially looking forward to seeing if LKY can prove whether or not its Desert Antimony Mine extends over the entire 1.2km of strike mapped earlier in the year…

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Updates on LKY’s processing tech partnerships 🔄

Now LKY has signed partnership agreements with

• Rice University

The next stage for this partnership will be to secure a larger licence deal over whatever technology is developed from the R&D agreement.

This will take some time to work out the IP sharing and mutual development of the technology.

• Hazen (a leading metallurgical company)

LKY recently signed a MOU to develop for processing of its antimony ore.

Hazen Research is a Colorado based R&D firm with 55+ years’ experience. They can provide global laboratory, pilot plant, and analytical services, specialising in developing processing and refining solutions for base and critical minerals.

LKY has now also signed an agreement with

• Columbia University

This agreement is focused on the REE processing side.

Between the three partners, LKY is working on:

• Pilot plant design and metallurgical test work
• Production of representative samples for US industrial and defence qualification
• Commercial analysis and process optimisation