LKY Secures Antimony Supply to Power US Processing Push

Published 10-SEP-2025 12:32 P.M.

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Our US rare earths and antimony Investment Locksley Resources (ASX: LKY | OTCQB: LKYRF) has just made a strategic move to secure additional antimony ore supply.

LKY’s project is right next door to ~A17BN capped MP Materials which owns and operates America’s only rare earths mine.

LKY will be drilling its projects later this year for two critical minerals - antimony and rare earths.

LKY’s project has in the past produced antimony - images of this in a second.

Ahead of this year’s drill program LKY announced a move to go downstream for antimony ahead of drilling.

LKY recently signed a legally binding R&D agreement with Texas based Rice University to develop an antimony processing technology.

The agreement would see LKY use an environmentally friendly, bio-degradable processing solution (DeepSolv™ - developed by Rice Uni) to process antimony feedstock and produce defense-grade and energy-grade antimony products domestically in the US.

Today, LKY signed a deal with EV Resources to purchase antimony concentrate that it can then feed into its tech partnership with Rice University.

By securing additional feedstock, alongside potential feedstock from its own project, LKY is laying the groundwork for scaling up its tech partnership.

IF the deal is negotiated into a binding antimony ore sales agreement LKY is also proposing to take a $750K strategic stake in EV Resources.

We like today’s move because it can help fast track LKY’s downstream tech partnership AND IF it needs to be scaled up, LKY will have another source of feedstock to put through the tech.

Overall, now we have two key catalysts to watch out for over the next 3-4 months - drilling at the company’s projects in the US and the downstream tech partnership.

Why we like the downstream move from LKY

We like the early move to add a downstream component to LKY’s business because the US is serious about downstream just as much as it is trying to encourage more upstream mine supply to come inline.

The US DOE recently announced a US$1BN grant - with most of it earmarked for recycling/processing tech that includes funding for Rare Earth Element demonstration facilities and other Critical Minerals.

(Source, US Department of Energy)

See our weekender on the DOE funding announcement here: The US Department of Energy’s US$1BN push into critical minerals.

LKY’s partner Rice University also has a pretty strong track record in the space.

Rice University is the same university that developed the:

~$600M capped Weebit Nano ReRAM semiconductor technology and
~$400M capped Metallium Flash Joule Heating technology.

Prior to both companies’ transformative Rice University partnerships, Weebit Nano and Metallium were tiny ASX stocks.

Here is how each stock traded in the years following Rice University licencing agreements:

The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

We are looking forward to seeing what comes of LKY’s partnership with Rice - especially now after the EV Resources deal.

What’s Next for LKY?

Drilling (next quarter) 🔄

LKY expects drilling to start next quarter, with first results expected before the end of this year.

Right now LKY is waiting for its expanded Plan of Operations (“POO”) to be approved (which is LKY expanding the size of its currently permitted drill program).

(Source)

Permitting for Phase 2 Drilling 🔄

LKY has lodged permits for an expanded Phase 2 drilling program on the North Block.

In the map below:

Light blue stars = phase 1 drill program (fully permitted)
Dark blue stars = phase 2 drill holes (permit pending)

Secure Licence Agreement with Rice University 🔄

Now that LKY has signed a partnership agreement with Rice University, the next stage 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.

Updates on Potential Funding or Further Opportunities through GreenMet 🔄

With LKY’s appointment of GreenMet we would like to see progress on US funding pathways (such as DOE, DoD, EXIM and DFC) and potential meetings and engagements with policymakers and other potential institutional support which we covered here on the appointment.